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William J Mcleod

William Mcleod’s Answers

103 total


  • I own property in another state with other family members. If I file bankruptcy in MA, will this property be a consideration

    65 yrs old, widowed, medical & credit card debt, live with adult children.

    William’s Answer

    If you're considering bankruptcy, it is important to remember that all property that you have an interest in must be accounted for and scheduled. But there are exemptions that may be available to keep the property from the reach of creditors. Whether those exemptions will work for you - or depending on the unique circumstances of your case - whether they will even matter is a determination that should be made by a bankruptcy attorney who can best guide you.

    Whatever you do, I strongly recommend that you not transfer the property to your other family members - that's not likely to help you. As a matter of fact, it could make your present situation far, far worse.

    Good luck,

    Bill McLeod
    McLeod Law Offices, PC

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  • I bought a computer for my daughters father he agreed to pay me back. what can i do to get the computer back?

    so we went to bestbuy and he has bad creadit and i agreeded to use my bestbuy credit card for the computer. and he has agreed to pay me. all was well until the first payment came i havent spoken to him since. can i get the money or the computer le...

    William’s Answer

    Based on your facts, you have no right to the computer. If you went to Best Buy and offered your credit to purchase a computer that he will use and control, then you have either given him (1) a gift or (2) a loan. Based on your facts, you state it is a loan, so gather your documents that prove that it is a loan if you have them. If you do not have anything, and the relationship has broken down, you're going to have to prove it was a loan rather than a gift - which means it might come down to your word against his.

    Good luck!

    Bill McLeod

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  • Discharge of Bankruptcy in Jan/2003

    Hi I was discharged of Ch 7 Bankruptcy in January of 2003. How long will this stay on my record for? I thought it was seven years and if thats the case it should disappear from my credit report in Jan of 2010 right?

    William’s Answer

    First, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 increased the reporting for bankruptcies on credit reports from 7 years to 10. So no, your 2003 discharge can stay on the report for up to 10 years.

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  • Can a vendor I owe money to call my accounts to see if they paid me

    Can a vendor I owe money to call my accounts to see if they paid me?

    William’s Answer

    The Fair Debt Collection Practices Act does not apply to creditors trying to collect their own debt, and it only applies in consumer debts, not business or commercial debts. Is it unlawful, no. Is it distasteful, yes. If you have problems with your debt that are deteriorating to this level, it might be time to talk to a professional to explore all of your options.

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  • Can i be sued for credit card debt after the statute of limitations has passed?

    I have a credit card debt that is 7 years old and no longer appears on my credit report. The debt collector who bought the debt filed a lawsuit against me. Is this a violation? Thank you.

    William’s Answer

    If you believe that the collection of the debt is precluded by the statute of limitations, it is absolutely imperative that you assert that defense in the suit brought against you. The statute of limitations defense must be asserted by the defendant - and it can be waived if it is not. Your belief that suit was brought after the statute of limitations is based not on your belief, but on the facts - and those facts need to be obtained through appropriate discovery tools that may be available to you.

    Talk to a lawyer ASAP as you have only a limited amount of time to answer the complaint and protect your rights.

    Good luck,

    Bill McLeod

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  • Should I sign an agreement for judgement and a monthly payment plan?

    A lawyer has filed a lawsuit against me for $2300.00 in credit card debt. The 20 day time limit for filing an answer has passed. The lawyer sent me an agreement for judgement and an ageeement to pay $50.00 a month on the debt. He says this will av...

    William’s Answer

    I agree with the prior response, but I'd also add that if this credit card debt is just one of many that have finally caught up with you in the court system, you may need to start thinking about other options. Agreeing to a payment plan won't help you if other debts will surface and collectors will start enforcing their rights - leaving you to juggle a number of judgments, liens and potential garnishments. If this is your only debt, $50 a month sounds like a good plan (although paying it off sooner is a better plan). If this is not your only debt, and this court case is a symptom of a larger problem that you don't mention, talk to a lawyer and start exploring some longer term solutions.

    Good luck,

    Bill McLeod

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  • How do I get a friend to pay their debt off of my credit card?

    I was there with her to let her purchase her bike on my credit card. I gave her access to my card, so she can make online payments. Years later, when my husband and I applied for a pre-approval for a mortgage, we discovered that she took the libe...

    William’s Answer

    If you authorized the use of your credit card, you are responsible for the debt to the bank/lender. If you co-signed the credit card agreement, you are also responsible for the debt to the bank/lender. So at that end, if you want this cleared up, write a check to the credit card company.

    As for your friend, or former friend as the case may now be, you're going to have to sue her so you can protect your rights. You do not mention the amount, so I cannot determine if you would benefit from bringing the matter in small claims - which is a more consumer friendly forum and you do not generally need a lawyer.

    Unfortunately, I do not see an easier solution.

    Good luck,

    Bill McLeod

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  • Liquidation of assets in bankruptcy?

    My parents are experiencing financial trouble and received a notice of Trustee Sale for their primary residence in CA. They are afraid to file for bankruptcy because they will be forced to liquidate all of their assets, including 3 investment prop...

    William’s Answer

    Transferring assets in contemplation of bankruptcy will invite a boatload of legal trouble, including, but not limited to, compromising your parents' ability to obtain a discharge of their debts. Since your parents' primary residence is in California, this is an question that you should address with a California bankruptcy attorney.

    However, be mindful, talking about debt with your parents can be a delicate subject. I've written about that and the article is below.

    Good luck,

    Bill McLeod

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  • How long should Chapter 7 bankruptcy take in MA? (Not the discharge time - the whole process.)

    I retained a lawyer 2/11/09. Lawyer finally filed 6/15/09 ONLY because our vehicles were being seized. (We had a court appearance for a creditor that the lawyer advised we "skip" & not worry about). It's now 8/21, our bankruptcy is not complete - ...

    William’s Answer

    In a routine and properly prepared and planned for Chapter 7 case, from the filing time to the issuance of the discharge and the closure of the case should take approximately 4 months, give or take a few weeks. This assume that the debtor has no assets, and there are no other issues that would cause a delay in the progress of the case.

    Simply because you retain a lawyer does not mean that the case will be filed immediately. Read your fee agreement and understand the rights and responsibilities of both you and your lawyer. It is important for you to remember that even if you were filing chapter 7, the filing of the petition would only delay the repossession of your autos if you were not current with your auto loan payments.

    If you want an answer that's more reliable and based on the specific aspects of your case, call a lawyer who can look up your case on PACER, ask you some questions and obtain information, and give you an answer all of your questions.

    Good luck,

    Bill McLeod

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  • We have joint credit card

    We have joint credit card my mom is primary holder and I am secondary holder but I never use this card , my mom declare bankrupt file, now collection agency sue me and now I got default judgments again me what should I do.

    William’s Answer

    I'm sorry to hear about the default judgments - because that would have been a great opportunity for you to try and prove that you are not responsible for the debt. Now that it's gone to default judgment, your options may be limited - but that's going to depend on factors you don't mention - so I recommend that you contact a lawyer to discuss this and what available options you have.

    As far as your mom, you don't mention what chapter of bankruptcy your mother filed under or the status of her case - without that information, it's tough for me to say what rights - if any - you may have under the Bankruptcy Code. Any lawyer with computer access who understands the bankruptcy process should be able to look up your mom's case on line and make that determination.

    Good luck,

    Bill McLeod

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