Bill N Jacob’s Answers

Bill N Jacob

North Andover Bankruptcy Attorney.

Contributor Level 8
  1. Do we need an attorney for a lawsuit even though in a debt negotiation program?

    Answered 14 days ago.

    1. S Mohammad Reza Kazerouni
    2. Bill N Jacob
    3. Mona Amini
    4. Daniel Ray Gamez
    5. Karen L Ware
    5 lawyer answers

    You should consult with an attorney and not rely upon a debt negotiation organization. Unless you have a valid defense to the credit card debt, fighting it may just add additional attorneys fees on the amount you owe. You can either explore bankruptcy as an option, or, if you decide agaist filing, try to work out a reasonable payment arrangement.

    8 lawyers agreed with this answer

  2. I have a letter from our local bankruptcy trustee that our home was surrendered to B of A in 2012. Why is prop still in my name?

    Answered 10 days ago.

    1. Bill N Jacob
    2. Dorothy G Bunce
    3. Robert W Gambrell
    4. Shawn Neely Wright
    5. Robert Ross Weed
    5 lawyer answers

    Although you may have indicated your intent to surrender the property in your bankruptcy case, unless the mortgagee foreclosed and sold the property, or, agreed to take a Deed in Lieu from you. Title remains in Your name.

    6 lawyers agreed with this answer

  3. Business loan and personal bankruptcy quaestion

    Answered over 2 years ago.

    1. Michael T Millar
    2. Peter Joseph Lamont
    3. Herbert Weinberg
    4. Bill N Jacob
    5. Dmitry Lev
    5 lawyer answers

    Section 541(c) provides that an interest of the debtor in property becomes "property of the estate," meaning that the debtor does not lose the property or contract right, despite a provision in an agreement that is conditioned on the insolvency or financial condition of the debtor, on the commencement of a case to effect a forfeiture, modification, or termination of the debtor’s interest in property. Section 365(e)(1), governs ipso facto clauses in executory contracts and provides that...

    4 lawyers agreed with this answer

  4. Husband has done credit checks on me without my consent or knowledge, is this legal?

    Answered 13 days ago.

    1. Bill N Jacob
    2. Stuart M Nachbar
    3. Simon Goldenberg
    4. Brent Francis Vullings
    4 lawyer answers

    The Fair Credit Reporting Act and certain state laws set forth the basic rules that protect your credit information. These laws allow certain entities to gain access to your credit report in certain situations. They also restrict how your credit information can be used. The person or entity that pulls your report must have a “permissible purpose”, such as extending credit, taking collection action, buying insurance, etc., otherwise, they must have your permission before pulling your credit...

    5 lawyers agreed with this answer

    1 person marked this answer as helpful

  5. Credit Card Debt Creditors hurting while working abroad?

    Answered 12 days ago.

    1. Bill N Jacob
    2. Eric Edward Rothstein
    3. Michael J Corbin
    3 lawyer answers

    Since this is a consumer debt, in Massachusetts they would need to sue him where he lives, in Afghanistan. There is a 6 year Statute of Limitations on a contractual debt, so they can wait until he returns to the U.S., however, you should check the Statute of Limitations in New York.

    2 lawyers agreed with this answer

  6. Should I file bankruptcy?

    Answered 14 days ago.

    1. Bill N Jacob
    2. David W. Brown
    3. Wayne B Mortensen
    4. Todd K Bolus
    4 lawyer answers

    You can certainly file bankruptcy in order to stop all State Court proceedings and discharge your debts. Naturally you should discuss your financial situation in detail with a bankruptcy attorney before you decide to file now.

    3 lawyers agreed with this answer

    1 person marked this answer as helpful

  7. Removing a common charge lien from a deed of a condo--who is responsible for following up once payment has been made?

    Answered 13 days ago.

    1. Bill N Jacob
    1 lawyer answer

    Typically, the lien holder (in this case I assume it is the Condo Association) should be responsible for providing you with a Discharge of Lien that is suitable for recording. Once you record a Discharge with the Registry of Deeds the lien has been "removed" , however, the existence of the lien and the Discharge will remain on record in your chain of title. If the lien was wrongfully recorded against your unit, with no notice to you, then the Condo Association may have some exposure to you for...

    1 lawyer agreed with this answer

    1 person marked this answer as helpful

  8. Credit card debt

    Answered 8 days ago.

    1. Danielle M. Callahan
    2. Bill N Jacob
    3. John N. Mansella
    4. JohnPaul Callan
    4 lawyer answers

    Usually credit card companies refer delinquent accounts to a collection agency for collection. They may call you or send you demand letters. Not all accounts end up in a law suit. Depending upon the amount involved and your ability to pay (or assets from which to collect) a suit may be instituted. If so, the account is then referred to a collection law firm. You can either try to settle for a lump sum at less than 100%, or, enter into a voluntary repayment agreement, or, file bankruptcy to...

    1 lawyer agreed with this answer

  9. Cease Communication Letter to Creditor

    Answered 22 days ago.

    1. Kris K. Skaar
    2. Jonathan Todd Mitchell
    3. Glen Edward Ashman
    4. Bill N Jacob
    5. Alan James Brinkmeier
    5 lawyer answers

    The Federal Fair Debt Collection Act regulates collection actions by collection agencies. The attorney generals office in your State may also have rules and regulations regarding debt collection actions. If you believe the collection agency has violated any provisions of these rules you can file a complaint and seek monetary damages. The strength of your case naturally depends upon the facts.

    2 lawyers agreed with this answer

  10. Is it (negligent) if an accident lawyer does not inform the BK court/trustee a year later 9 days before BK discharge date . Cont

    Answered 21 days ago.

    1. Michael Hal Schwartz
    2. Eric Edward Rothstein
    3. Bill N Jacob
    4. Carl H Starrett II
    4 lawyer answers

    I would need additional information from you, however, generally, assuming you disclosed the accident to your bankruptcy attorney, he or she should have spoken with the personal injury attorney to find out the potential value and status of the claim. The claim should be included on your Schedules. In a chapter 7 case, the Chapter 7 Trustee will take control of the accident claim if there is any value in it over and above your exemptions. If the Trustee takes the case, your personal injury...