Skip to main content
William J Mcleod

William Mcleod’s Answers

103 total


  • Don't want to pay for incomplete credits

    Dear Sir or Madam, I had a difficult time in my life that made me unable to attend my MBA classes last year, leading to failed classes. I'm currently struggling financially, I'm in debt management program. I entered the university without stude...

    William’s Answer

    You do not mention as to whether you terminated your attendance pursuant to the school's policy - which is pretty important. If you did not withdraw from the classes or the program in the manner contemplated by the school, or if you have exhausted your rights under whatever internal appeal process might be available to you, then I'm afraid you're stuck with the bill.

    Check the policy, and if you have a doubt, let an attorney review the policy and the facts in more detail.

    Good luck,

    Bill McLeod

    See question 
  • Can I collect money loaned to an ex-boyfriend?

    Over the past 4 years I loaned my now ex-boyfriend over $15,000. The money was used to pay for his divorce attorney, truck insurance, truck repairs, childs tuition etc. Is there any way to re-coop this money? He had agreed to call me to dis...

    William’s Answer

    Unless he's willing to voluntarily repay you - which based on your comments seems unlikely, your only alternative is to file suit in court against him. You should confer with an attorney about doing so - since it's likely going to add additional costs and fees to what is already owed you. Gather your documents demonstrating that your payments to him were a loan and meet with an attorney as soon as possible.

    Good luck,

    Bill McLeod

    See question 
  • Trying to pay my debt.

    I have spoken to debt management couseling firms, lawyers about chapters 7&13, and restructured my budget while working two jobs. I am paying down my credit debts but if in the event I ran into a situation where overtime was limited, I lost my pa...

    William’s Answer

    You say that you have already spoken with "debt management counseling firms" and attorneys about your options in chapters 13 & 7. Without more detailed information, there's little that any attorney can provide by way of advice or recommendations. You state nothing about your income, and your expenses - the statement that you have "restructured your budget" is not enough - more details are needed. You provide nothing by way of facts or circumstances that would enable any attorney to provide any meaningful advice.

    With more, here's the answer to your question- if you're behind on your debt and you attempt to pay it on your own, on your time frame, and in payment you can afford - you do so at your own peril. Creditors can and will exert whatever collection activities they deem fit - unless you elect other remedies and options you have available to you.

    I recommend that you contact the attorneys who you have already conferred with - presumably, they have the information that you did not provide here, and ask them this important question. With that information, they should be able to give you an opinion that you can rely on.

    Good luck,

    Bill McLeod

    See question 
  • Declaration of Homestead Massachusetts

    I had a conversation with someone today who filed for bankruptcy. He told me that I should submit a Declaration of Homestead to protect my home from unsecured creditors attaching liens to it. I read the exemptions for what a D.O.H. includes and ...

    William’s Answer

    You mentioned that your friend filed bankruptcy, and in bankruptcy, the only exemptions and limitations on the homestead exemption are in the bankruptcy code. Provided that there is a properly prepared Homestead Declaration recorded prior to the filing of the petition, the Declaration will protect the homeowners interests up to the amount of exemption. To get this benefit, the Declaration must be recorded prior to the filing of the bankruptcy protection - not after.

    If you have additional specific questions or concerns about your rights and obligations in bankruptcy, or about your ability to protect your home in bankruptcy, you should speak to an experienced bankruptcy attorney.

    Good luck,

    Bill McLeod

    See question 
  • Personal guarantor?

    A large bank is claiming I am a personal guarantor on a line of credit with them. This line was issued to my ex husbands company. I did know about this but do not recall ever signing anything agreeing to be a personal guarantor. Our settlement sta...

    William’s Answer

    This is a tough situation. While the settlement with your ex may provide that he's responsible for the debt, unless the large bank was privy to that settlement agreement, the large bank is not bound by it. So legally, they can collect it from you - assuming of course, that you are the guarantor of the debt. You are then left to seek reimbursement from your ex.

    You might benefit from speaking to a bankruptcy attorney to see if this is something you should consider in order to protect yourself. Gather your documents, and determine what course of action is best for you.

    Good luck,

    Bill McLeod

    See question 
  • How, why could I b listed as a creditor,If I try to sue, can I get charged money due 2 his bankruptcy, Is calling him, stalking?

    I have a (former) friend who I claim(I can't prove it) owes me $13,000. 10 years ago we shared an apartment and were also in business together. Long story short, the business failed and I ended up borrowing money on my car, to pay for "our" rent a...

    William’s Answer

    • Selected as best answer

    You need to speak with a lawyer who knows bankruptcy and can get more details. If your claim arose prior to your former friend's bankruptcy case, and the discharge has entered, your claim against him is discharged and your contacting him could violate the discharge injunction. You do NOT want to violate the discharge injunction.

    Talk to a bankruptcy attorney who can review your former friend's bankruptcy case and give you the final opinion that you can rely on.

    Good luck,

    Bill McLeod

    See question 
  • I received a letter from my mortgage company, saying its been paid off. BUT ITS NOT.

    DEAR MORTGAGOR; Your loan, referenced above was recently paid off. This check represents the remaining balance in your inmpound account and/ or overage of the payoffs funds we received. If you need more information regarding this payoff , pl...

    William’s Answer

    You did not hit "the lottery." Your lender/servicer apparently made an error with regard to your mortgage. While I cannot say I have ever seen it happen this way, mistakes do occur. You might have a claim against the lender/servicer if you believe the loan was paid in full and the lender/servicer was refusing to correctly apply payments - but the fact that they made a mistake doesn't operate as a windfall for you. So it's my opinion that you have no case or cause to bring against your lender/servicer.

    In terms of the repayment of the funds you should not have been paid, I do recommend speaking with an attorney to discuss what options you have, and/or to arrange an acceptable repayment plan.

    Good luck,

    Bill McLeod

    See question 
  • Can I stop making payments on my car?

    Im filing for chapter 7 bankruptcy next week and was wondering if I have to make a car payment thats due at the end of the month?I'm not sure if I'm going to keep the car yet,it all depends if the finance company is going to be willing to give me ...

    William’s Answer

    Of course, if you're not going to keep the car, there's no good reason to continue making payments if you are filing for chapter 7 bankruptcy protection next week.

    As to your other concerns, this is a question you should speak with your attorney about. If you do not have an attorney - get one. Bankruptcy is a complicated process, and going without an attorney is - in one word - unwise.

    Whether you're actually going to be able to get a new loan for your vehicle depends on a number of factors you do not list - such as the current balance of your loan, the make and model of the car, when you purchased the car, what your income and expenses are and whether you can actually afford to keep and maintain a vehicle.

    Good luck,

    Bill McLeod

    See question 
  • Objection to chapter 13 sign off on plan from 2nd mortgage holder

    our chapter 13 was scheduled to be signed off on on the 23rd of this month, i recieved legal notice from mortgage holder that they did an independant appraisal that held our home in value of enough to include 2nd mortgage we were having released b...

    William’s Answer

    If you have an attorney, your attorney should be able to answer this question. If you do not have an attorney and you're representing yourself in chapter 13, then it sounds like you might definitely need an attorney now.

    Without having access to your docket information, it's impossible to accurately respond to your questions. There are procedures that must be adhered to by both debtors and creditors in the chapter 13 process, and your email does not accurate describe whether those procedures have been followed.

    If you are not represented by counsel, you should contact the Pro Se Law Clerk at the US Bankruptcy Court.

    Good luck,

    Bill McLeod

    See question 
  • Credit Card Judgment.

    I have a credit card judgement for 14,000. I don't own any property. I don't recieve a paycheck due I am a waitress being paid 2.63 an hour,and all my check goes to pay taxes.I live in Boston, Ma. what the laws, can they freeze my bank account? I...

    William’s Answer

    Let's be serious: your making $2.63 per hour and it's all going to taxes. But you're also getting cash tips that go directly into your pocket day after day. I got through school waiting on tables - so telling a creditor that you only make $2.63 an hour and it's only going to taxes simply isn't going to fly.

    There is no statute of limitations on a judgment. A judgment lingers until its satisfied - or for 20 years....so that will give the creditor ample time to try and collect the debt from you.

    You may want to consider filing bankruptcy - if after meeting with an attorney - you determine that this is the best course of action for you and your family.

    Good luck,

    Bill McLeod
    McLeod Law Offices, PC

    See question