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Mississippi Bankruptcy Questions & Answers
1 Answer | Asked in Bankruptcy for Mississippi on
Q: Am I able to purchase a business in bankruptcy?
Randall R. Saxton
Randall R. Saxton answered on Jan 7, 2017

If the business is in a Chapter 7, you can purchase all of the assets of the business. The Chapter 7 Trustee assigned to the case will advertise an auction.

1 Answer | Asked in Bankruptcy for Mississippi on
Q: If I file for bankruptcy does that clear out my student loan debt?
Randall R. Saxton
Randall R. Saxton answered on Oct 25, 2016

Federal student loans are not dischargeable in bankruptcy.

1 Answer | Asked in Bankruptcy for Mississippi on
Q: Can I sell my home during chapter 7 bankruptcy and keep the proceeds if they are exempt? If so how?
Todd Laster
Todd Laster answered on Jun 9, 2016

If you have an attorney you need to discuss this with them before you take any action. Most Chapter 7 cases only last for 3 to 4 months, so it would be best for you to wait until after your final decree is entered. However, if the house was listed as an asset and properly exempted with no... Read more »

1 Answer | Asked in Bankruptcy for Mississippi on
Q: If my wife and I file a chp 7 bankruptcy in MS can we exempt two vehicles if they are both less than $10,000?

I have a truck worth $4,000 and she has a car worth $3,500 and there are no liens on either vehicle, can we keep both of them?

Robert Gambrell
Robert Gambrell answered on Nov 16, 2015

Each of you are entitled to exempt up to $10,000.00 worth of tangible personal property, including such items as cash on hand, household goods, tools of the trade, animals, motor vehicles, medically prescribed items, and anything other than the listed items that has a value of less than $200.00.... Read more »

1 Answer | Asked in Bankruptcy for Mississippi on
Q: WE filed Chapter 7 in 2003 our land has been coded as filed chapter 7 but their people is telling us now our land

was not cleared with our chapter 7 so what do we do its been 17 years and we still haven't gotten our clear dead back to our land.

They say that land & primary home put up as a secure loan can not be discharged by chapter 7.

they are now telling us we need to talk to their... Read more »

Robert Gambrell
Robert Gambrell answered on Sep 11, 2015

A bankruptcy discharge order discharged your obligation to pay certain debts, but it does not discharge a lien, such the lien created by a deed of trust (another name for a mortgage). There are some types of liens on a homestead that can be avoided in a bankruptcy, but those liens are generally... Read more »

2 Answers | Asked in Bankruptcy for Mississippi on
Q: I had a case dismissed in 2011. I am trying to refinance my house and found out they have a lien on it and I was NEVER

NEVER told about it. I went to my attorney and he told me that he would have to reopen the case to get it taken off. Just wondering is this correct? And why wasn't I told about this 3 years ago? The court was in Oxford, MS. The lien was Ford Motor Credit. Can anybody help?

Christopher Kern
Christopher Kern answered on Aug 26, 2015

There is a provision in bankruptcy law that allows a debtor to "avoid" or remove a judgment lien to the extent it impairs exempt property. This must be done while the case is still pending. If a debtor does not know about a judgment, or does not tell the attorney, then the attorney will... Read more »

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1 Answer | Asked in Bankruptcy for Mississippi on
Q: Can i get a new account before i file bankruptcy and have it included as a creditor.
Christopher Kern
Christopher Kern answered on Aug 24, 2015

You can not do this with the intent to discharge that debt. This would be fraud and make the debt non-dischargeable. If you obtained a new account, and later, even shortly later, decide to file bankruptcy, this would not be fraud.

1 Answer | Asked in Bankruptcy for Mississippi on
Q: I have a loan out three notes behind they want take a single note what are my options

Tried to take them notes twice they say they way all at one time

Robert Gambrell
Robert Gambrell answered on Aug 16, 2015

The creditor has the right to take the position that it will only accept payments if you bring the loan completely current. If the creditor repossesses the collateral or commences foreclosure if the collateral is real property, you can file a chapter 13 bankruptcy. If the collateral is a vehicle... Read more »

1 Answer | Asked in Bankruptcy for Mississippi on
Q: How do I know how many months I have left on my bankruptcy
Robert Gambrell
Robert Gambrell answered on Jun 28, 2015

If your trustee's cases are on the Nation Data Center website, you can create a free account. After setting up an account, you can follow your case as money is paid to the trustee and paid by the trustee to creditors. Try this link to determine if you can set up an account:... Read more »

1 Answer | Asked in Bankruptcy for Mississippi on
Q: Do I need a bankruptcy or real estate attorney? My house was in foreclosure with a sale date of April 16.

The bank stopped the sale because I was willing to work out a plan. The bank and I are still working things out but I found the house is in foreclosure with sale tomorrow June 9. Can they sell? No classified legal notices have been printed in local newspapers in regards to sale.

Robert Gambrell
Robert Gambrell answered on Jun 9, 2015

Unfortunately, I did not see your question yesterday. If the foreclosure sale was set for June 9th, then the sale was probably conducted on the steps of the courthouse for the county in which your home is located at 11:00 a.m. earlier today. To complete the foreclosure, the Trustee's Notice... Read more »

1 Answer | Asked in Bankruptcy for Mississippi on
Q: Can you transfer property while you are in bankrupcy
Robert Gambrell
Robert Gambrell answered on Jun 7, 2015

It is possible to transfer property while in a bankruptcy proceeding. To do that, your attorney must file a motion to authorize the sale or transfer of the property. In some instances, a property can be sold for less than the total amount of the liens which are secured by the property. This... Read more »

1 Answer | Asked in Bankruptcy for Mississippi on
Q: I filled chapter 13 interest was taken of home loan. Can the interest be put back on balance after chapter 13?

I continued to make full payment on the home loan during the three years of chapter 13.

Robert Gambrell
Robert Gambrell answered on May 17, 2015

I think that you are confused about what is happening. A secured claim, and a home mortgage is entitled to receive interest on its debt. However, if you are paying the arrears (back payments that were due at the time you filed your case), the mortgage lender is not entitled to collect interest on... Read more »

1 Answer | Asked in Bankruptcy for Mississippi on
Q: Does a spouse filing bankruptcy individually affect the credit standing of the other spouse?
Robert Gambrell
Robert Gambrell answered on May 17, 2015

No. The mere fact that a spouse has filed bankruptcy does not have any effect on the credit score of the non-filing spouse. However, if the husband and wife have joint debt, only the filing souse receives a discharge of that debt. Thus, if the non-filing spouse does not continue to make the... Read more »

1 Answer | Asked in Bankruptcy for Mississippi on
Q: Can a LImited Liability Company file for CHAPTER 7 in Mississippi?

The limited liability company has about $200,000 of debt, all unsecured, with NO personal guarantees. I want to file ONLY in the name of the LLC and not personally.

Robert Gambrell
Robert Gambrell answered on May 17, 2015

Yes, a limited liability company can file a chapter 7. However, the LLC will not receive a discharge at the end of the case as an individual does when an individual files a chapter 7 bankruptcy case.

1 Answer | Asked in Bankruptcy for Mississippi on
Q: After my bankruptcy case has been confirmed can i still add a creditor that wasnt already included.
Robert Gambrell
Robert Gambrell answered on May 17, 2015

The court charges a $30.00 fee to file an amendment adding one creditor or multiple creditors provided all are added at the same time. There is some case law out there that says that if the creditor was left off the schedules and was not added until after confirmation, then you could be precluded... Read more »

1 Answer | Asked in Bankruptcy for Mississippi on
Q: If I'm 14 months into my Chapter 13 but decide that I want to "cancel" it and reassume my debt, what are the penalities?
Robert Gambrell
Robert Gambrell answered on May 16, 2015

There are no specific penalties set out in the Bankruptcy Code. However, you should review your situation carefully with your attorney before dismissing your case. For example: If you have restructured your auto loan through the chapter 13 plan, the auto lender has probably been receiving much... Read more »

1 Answer | Asked in Bankruptcy for Mississippi on
Q: New Verizon Edge Smartphone Purchase: Filing Chapter 7 in Mississippi, Will I lose the phone?

I am filing Chapter 7 in Mississippi. I am a senior on SSA DisabiIity. My Verizon smartphone kept missing texts/emails/calls but was no longer in warranty (I did not purchase insurance). My contract was not up until 12/15. I had to buy a new smartphone but the only "contract" they would... Read more »

Robert Gambrell
Robert Gambrell answered on May 16, 2015

Your question involves 2 separate issues. The first issue is the service contract. If you file the case and agree to assume the contract, which means that you will continue paying the regular monthly service charges, then your service will not stop. However, if you intend to reject the contract,... Read more »

2 Answers | Asked in Bankruptcy for Mississippi on
Q: Can i file chapter 7 again it has been over six years

In 2008 filed chapter 7 in az moved to Mississippi in 2008 can i file chapter 7 again?

Mr. J. Thomas Black
Mr. J. Thomas Black answered on Aug 28, 2014

You can file again, but you would not be eligible for a discharge in a case filed now.

Under Section 727(a)(8) of the Bankruptcy Code, you cannot receive a discharge in chapter 7 if the case was filed within 8 years of the filing of a prior case under chapter 7.

However, under...
Read more »

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1 Answer | Asked in Bankruptcy for Mississippi on
Q: May i just file bankruptcy without involving my wife?

I just want to stop paying on our motorhome, we both have cancer and heart problems. we cannot use it any more.

Andrew Bresalier
Andrew Bresalier answered on Feb 3, 2014

A: You can file without your married spouse; however, any jointly held debt and property must be disclosed. Additionally, if your spouse works their income must be included in the Means Test and you will have to provide copies of their pay-stubs to the court.

1 Answer | Asked in Bankruptcy for Mississippi on
Q: How to seal a Bankruptcy case

What steps do I need to take to seal an 8 year old Ch7 bankruptcy case? Would I just need to file a "Motion to Seal Case" as well as an "Order to Seal Case" with the Southern District Court of Mississippi in addition to paying any filing fees? Is it that simple?

I... Read more »

Andrew Bresalier
Andrew Bresalier answered on Feb 3, 2014

A: You cannot seal a Bankruptcy Case?

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