Rhode Island Bankruptcy Questions & Answers

Q: I am only considering ch 13 due to a second mortgage balloon payment due in early 2021 if I can't refinance

1 Answer | Asked in Bankruptcy for Rhode Island on
Answered on Dec 13, 2018
Timothy Denison's answer
You can do a100% repayment plan over 5 years without incident.

Q: I would like file chapter 7, i do not own any assets, I have considered Chapter 13, can you advise the exacts in 7

1 Answer | Asked in Bankruptcy for Rhode Island on
Answered on Oct 16, 2018
Timothy Denison's answer
Chapter 7 is likely the way to go for you since you have no assets. Chapter 13 is a wage earner repayment plan designed for people who have assets they could not otherwise keep. Contact a local bankruptcy attorney who can guide you through the process.

Q: I had a motorcycle that I defaulted on for the last 6 payments..

1 Answer | Asked in Bankruptcy and Consumer Law for Rhode Island on
Answered on Jul 15, 2017
David Earl Phillips' answer
If there is no lien against the title you would be able to sell the bike in my state, Tennessee. If Rhode Island is a title state also you should be OK with selling the bike. Hope it works out. Good luck!

Q: If I file chapter 13 can my cars be reposessed if the car company is on the bankruptcy

1 Answer | Asked in Bankruptcy for Rhode Island on
Answered on May 21, 2015
Kevin W. Chern Esq.'s answer
One of the primary reasons that people choose to file for Chapter 13 bankruptcy is that a Chapter 13 payment plan allows for keeping property that serves as security for a debt (such as an automobile with a lien on it) and catching up past-due payments over time.

Kevin Chern is an Illinois licensed attorney who has practiced in federal consumer bankruptcy law and consumer protection law for the last 21 years. He is the Managing Partner of UpRight Law. Kevin's law partners are...

Q: How do I write my Bankruptcy #?

1 Answer | Asked in Bankruptcy for Rhode Island on
Answered on Mar 27, 2015
Neville Bedford's answer
When you have a problem like this, contact the provider of the financial management course support line or the attorney you hired to assist you with your bankruptcy.

Q: Financial liability after bankruptcy discharge for difference between short sale amt and amt owed?

1 Answer | Asked in Bankruptcy for Rhode Island on
Answered on Aug 9, 2014
Norma Duenas' answer
If you have listed and included your two mortgages in your bankruptcy then you should not have liability for any difference between the amount of the short sale and what was owed. Your bankruptcy would have removed your personal liability for the mortgages. The only time that you would be responsible would be if you reaffirmed the mortgages in your bankruptcy. It this is not the case then the mortgage companies cannot come after you for the mortgages. For further information on this issue you...

Q: A firm that went bankrupt owes me money. I am not a secured lender, but a subcontractor. The amount is $12,000

1 Answer | Asked in Bankruptcy for Rhode Island on
Answered on Feb 11, 2014
Andrew Bresalier's answer
A: Unless there is unexempt property, usually a Creditor does not receive payment. Even when something is unexempt and administered, Creditors generally only get pennies on the dollar. Unless you can show some fraud in the granting of the loan and have your loan declared nondischargable, the most you can do is file a Proof of Claim and pray. As subcontractor you will be treated as a Schedule F – Unsecured / Non-Preferred Credit, which places you at the bottom of the list to be paid.

Q: Worked for a company who's owners filed bankrupcy and owe back wages. Will courts pay out those wages. How can I know?

1 Answer | Asked in Bankruptcy for Rhode Island on
Answered on Feb 11, 2014
Andrew Bresalier's answer
A: Unless there is unexempt property, usually a Creditor does not receive payment. Even when something is unexempt and administered, Creditors generally only get pennies on the dollar. Unless you can show some fraud in the granting of the loan and have your loan declared nondischargable, the most you can do is file a Proof of Claim and pray. As an employee you will have a Preferred Status as a Creditor, which means if anyone gets pays, you will be paid before most.

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