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Puerto Rico Bankruptcy Questions & Answers
1 Answer | Asked in Bankruptcy for Puerto Rico on
Q: What would non-exempt property be in a chapter 7 bankruptcy?
Stuart Nachbar
Stuart Nachbar answered on Nov 9, 2018

As Puerto Rico is part of the third circuit, you would follow the federal exemptions listed in the bankruptcy code. https://www.law.cornell.edu/uscode/text/11/522

1 Answer | Asked in Bankruptcy for Puerto Rico on
Q: I lost all of my property because of Hurricane Maria. How do I file for bankruptcy in light of natural disasters?
Timothy Denison
Timothy Denison answered on Sep 7, 2018

You file just like any other case and list the loss under casualty.

2 Answers | Asked in Bankruptcy, Consumer Law and Contracts for Puerto Rico on
Q: Is it safe to give a car under affidavit if I still owe on it?

I'm giving away my car loan but the person interested recently opened up a business and can't get the loan transferred. Is it safe to give him the car for a year (minimum requirement on his business loan until he can get approved for other loans) under affidavit? I am unable to pay the... Read more »

Nelson Jose Francisco Alvarez-Aponte
Nelson Jose Francisco Alvarez-Aponte answered on Jul 3, 2018

Good morning and thank you for using JUSTIA. The two main downfalls are that you will remain the registered owner of said vehicle and the principle debtor to the loan. This means that you are the responsable party for any damage that the vehicle causes and in the party responsable for the monthly... Read more »

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1 Answer | Asked in Bankruptcy for Puerto Rico on
Q: My ex and I co-signed for his car and now he filed for bankruptcy. The auto lender is now expecting me to pay the entire

remainder but I don't even have access to the car! What are my options?

Timothy Denison
Timothy Denison answered on Jun 18, 2018

The answer should be Contained in your divorce and separation agreement. You may be able to use the contempt power of the court. You’ll need to consult a bankruptcy attorney who can guide you through the technicalities involved.

1 Answer | Asked in Bankruptcy for Puerto Rico on
Q: Will I lose my house or car if I file for bankruptcy?
Timothy Denison
Timothy Denison answered on Apr 16, 2018

Not necessarily. Depends on several factors, including equity in each and which chapter of the code you file under. In a Chapter 13 wage earner repayment plan, highly unlikely. Chapter 7 will depend, but maybe not in a 7 either.

1 Answer | Asked in Bankruptcy for Puerto Rico on
Q: If my spouse files for bankruptcy will it affect my credit?
David Earl Phillips
David Earl Phillips answered on Feb 16, 2018

It would if you jointly apply for credit together. Guilt by association. Best to only get credit in your name to avoid this problem. Another problem could be if she had joint debt with you when she alone filed bankruptcy. If she does file bankruptcy, check your credit a few months after her case is... Read more »

2 Answers | Asked in Bankruptcy for Puerto Rico on
Q: How long after filing for bankruptcy will the creditors stop calling me?
Stuart Nachbar
Stuart Nachbar answered on Aug 2, 2017

Creditor calls and mailings should stop within 2 weeks of filing

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1 Answer | Asked in Bankruptcy for Puerto Rico on
Q: Can I include my student loans in my bankruptcy request?
Andrew Bresalier
Andrew Bresalier answered on May 15, 2012

All debts must be listed; however, Student Loans are NOT Dischargable. Additionally, Student Loans are not subject to Statute of Limitations and do not require any due process. Unless, you have them forgiven (Totally Disability/Dead), or pay them, they will never go away and they do not have to... Read more »

1 Answer | Asked in Bankruptcy for Puerto Rico on
Q: If i cant pay me credit cards can i go bankrupt?
Andrew Bresalier
Andrew Bresalier answered on Dec 8, 2011

The only bar to filing is the Means Test. If you can pass the means test (look at my other response for an in-depth explanation of the means test) then you can file. Next you should examine if you should file, by examining the amount owed and exemptions - you would hate to loose your home or... Read more »

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