I filed chapter 7 in 2019. I included several loans that were owed directly to the institutions (not gov't backed like Navient/Sallie Mae). These accounts were turned over to collections prior to me filing bankruptcy and were sent a bankruptcy notice. Am I still on the hook for the balances?
It's the nature of the claim itself, and not who holds the claim, at the time of the bankruptcy filing, that determines how it will be handled in the bankruptcy. Claims being pushed by debt collectors are common, and just as commonly, are discharged in bankruptcy.
If it has been more than 4 years since you filed your Chapter 7, you are now eligible for a discharge in a Chapter 13. The portion of your unsecured debt that you will repay in a Chapter 13 will dependent upon your actual current income and expenses.
Get the check for the insurance to get another since I’m paying for the car in the bankruptcy ? Since no one will give me a loan to get a car because my credit is low the first thing that shows up is the ch. 13 bankruptcy so it’s an automatic no. Or is there any option out there for someone in... View More
Owner of business wants to sell company and business assets to me. Business debt is greater than asking price. Asking price takes care of owners personally guaranteed debt, and there would still be $80,000 in an outstanding EIDL loan. Would I be inheriting the debt with the company? Or should I... View More
I pracrice in PA, but almost all states have some version of what's also called a Bulk Sales Law, and by that law, a debtor cannot sell all, or a substantial portion, of his business assets and leave creditors hanging, so the law provides that the debt follows the assets. Even where a state...View More
I own two home. One I use as a rental property for income and it is my only source of income. I also own a house with my husband that we live in. Can I keep both? Not a joint filing, only me. My name is on the mortgage for one house and his on the mortgage for the other. But both of our names are... View More
You'll need to talk to your attorney (or get one if you don't already have one. In many jurisdictions, but not necessarily MI, the first step would be to bifurcate (split in two) your chapter 13 case. Then you and your wife have separate cases. At that point, your attorney can seek to...View More
The statute of limitations starts on the date of last activity on your account. This could be the date you last made payment, but it could also be the date you last used the account, made a promise to pay, entered a payment agreement, or acknowledged liability for the debt.
It would seem to me that both signatures are required since a bankruptcy would affect both people in the marriage. Is it legal that my husband is doing this? He will not disclose the attorney to me so that I can ask.
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