Skip to main content
William Watt Waldner

William Waldner’s Answers

45 total


  • Still receiving mortgage bills after filing Ch7 in 2011

    Filed CH7BK in 2011, discharged Feb2012. moved to Texas for job and vacated home. Bank of America continued sending monthly bill and charging insurance, sold loan to Nationstar in 2013, started receiving monthly statements and bills from Nationsta...

    William’s Answer

    In very limited circumstances you can transfer ownership of your property in Bankrutpcy. However, in your case you only discharged the amount you owe for your mortgage(s). That being said, it is in your interest to short-sell the property to get the property ownership out of your name. As long as you own the property you may be liable for taxes, insurance, government issued fines and penalties. If someone slips and falls on your property you could be liable for that also. For this reason banks are hesitant to complete the foreclosure process on many homes. They are sometimes referred to as "zombie foreclosures". I am not licensed to practice law in Utah so this information is intended as educational information only. You should contact an attorney in your area for legal advice.

    See question 
  • I filed chapter 13 got to keep my car and keep making payments. Apparently I missed a few payments

    They reviewed my account and sent a letter giving me a credit and the said it was charged off. I still have my vehicle I'm continuing to make my payments. Will I be able to keep my car. I call them and wait and wait and just hang up. What do ...

    William’s Answer

    Yes, you will be able to keep your car. Any pre-petition arrears can be paid in the plan. Usually, you can enter into an agreement with the creditor to catch up on post-petition payments that were missed in something called a conditional order.

    See question 
  • My chapter 7 has been discharged can I file for chapter 13

    I filed chapter 7 and I paid it off 3 moths ago..I had an accident which I might be getting sued , can I file again ..or file chapter 13v?

    William’s Answer

    Yes, but you will not get a discharge. You can file a chapter 13 to pay back the judgment. Or to protect yourself while you wait out the time period to get a discharge in a future 7 or 13.

    See question 
  • Should i expect any issues on a chapter 7 petition because of a consolidation loan about 7 months ago?

    i took a loan 7 months ago for $20,000 from Discover Bank to consolidate credit card debts, $3500 was deposit to my bank account the rest was paid directly to the credit card companies. now i'm planning to go bankruptcy and i'm worry that i will ...

    William’s Answer

    Sometimes waiting a few months to file cases like yours is the key. In Bankruptcy, the longer you wait the less chance an AP will be filled. If the loan was taken over 1 year prior to your filing I think you will have no issues. I have handled many cases like theses and never had an issue.

    If we look at your intent it seems clear that you were not trying to do anything that would jeopardize your discharge. It appears that you took the loan out because you genuinely thought you could manage the debts and in the end you just couldn't manage.

    Discover would have a hard time objecting to the dischargeability of this debt.

    See question 
  • Can unemployment insurance debt be discharged in bankruptcy?

    If unemployment insurance debts were incurred in 2008, and a tax audit occurred in 2011 (which resulted in an assessment that money was owed, in Sept 2011), and Chapter 7 bankruptcy was filed in Jan 2011, is the unemployment debt discharged?

    William’s Answer

    Generally speaking, if you received the UI benefit because of no fault of your own the debt is dischargeable.

    See question 
  • Deadline to file chapter 7 if I was served?

    Dear sir or madam, I am going to file chapter 7 bankruptcy. However, yesterday I received complaint from one of the credit card companies via express mail. It is Los Angeles superior court. My questions are: 1. Is this considered I was ser...

    William’s Answer

    I am not licensed to practice in California and this is not intended to be legal advice.

    I would just add that if you need time to put everything together to file for bankruptcy you should answer the complaint and get an adjournment. Hopefully this will give you more time to hire a lawyer to file for bankruptcy.

    We are a debt relief agency and help people file for bankruptcy.
    Attorney Advertising

    See question 
  • Can we use our IRA money for anything we choose? we have been in chapter 13 for about a year and a half

    We filed for chapter 13 a year and a half ago, We would like to know if we can use our IRA money as we see fit without out permission from the court

    William’s Answer

    This is not intended to be legal advice.
    It depends on your state's exemptions. If the IRA is 100% exempt you can use the funds. However, I do not practice law in Florida so you should contact an attorney in Florida.

    We are a debt relief agency and help people file for bankruptcy under the US Code.
    Attorney Advertising.

    See question 
  • Bankruptcy New York City (attorney needed)

    I live in Downtown Manhattan and I am considering filing for Chapter 7 Bankruptcy. I have run my business in Manhattan for the past 5 years but things are not looking good. My limited research confirms that I needed to have lived in NYC for the ...

    William’s Answer

    • Selected as best answer

    Good question. There are several additional facts I would need to know about your case but I will try to answer your question.

    The Bankruptcy Code establishes that a case should be commenced in the district in which the residence, domicile, principal place of business or principal assets of the debtor have been located for 180 days before (6 months), or for a longer portion of the 180 days than any other district. So in your case you would be able to properly file in Manhattan (Southern District of New York) or in the district you lived in California. Here is why you have 2 districts: You lived in California for the greater part of the last 6 months and your business has been operating for the last 5 years in Manhattan.

    Section 1408 of title 28 of the United States Code lists the criteria for establishing venue in a Bankruptcy case. A Bankruptcy court has Venue if it is allowed to administer the Bankruptcy Estate. These are Federal rules so generally they do not differ from state to state. Regardless of whether you meet the test laid out in 1408 the court can still have jurisdiction over the case regardless if the case was filed in the correct venue. Similarly, the court may transfer a case to a more appropriate venue in the "interest of justice" or " for the convenience of the parties".

    Hope this helps!

    If you live in New York City and have further questions or would like a free debt relief consultation please contact my office at 212-244-2882

    William W. Waldner, Esq.
    www.midtownbankruptcy.com
    We are a debt relief agency and help people file for bankruptcy under the US Code.
    Attorney advertising

    See question 
  • I live in New York City (the Bronx) and I want to file a Chapter 7 or a Chapter 13 Bankruptcy case.

    I am concerned though because I don't want to lose my home because of a Bankruptcy. I was told that by filing a Chapter 7 Bankruptcy they will take my house and I get to keep it in a Chapter 13. The house is worth $425,000 and I have a mortgage ...

    William’s Answer

    • Selected as best answer

    Good question. First, it is important to understand that there is a $150,000 homestead exemption in New York City (this is doubled for married couples). Essentially you are allowed to keep up to $150,000 in the equity that you have in your home. You can determine the equity in your home by taking the value of you house (Appraisal is a good indicator of current value) and subtract the amount remaining on your mortgage(s) (aka. liability). A payoff letter from your lender will determine how much is owed on your mortgage. Even if you have more than $150,000 in equity in your home we can add in the costs of sale and trustees administrative fees to increase the amount of equity you can keep. If you have too much equity in your home or you need time to catch up on your mortgage payments then you would file a chapter 13 Bankruptcy.

    In your case we would take the value of your house : $425,000 and subtract the payoff amount on your mortgage: $500,000 and end up with -$75,000 in equity. Since your house is underwater you will have no problem keeping your home in a chapter 7 Bankruptcy. When you file your Chapter 7 petition in the Southern District of New York your statement of intent will say "retain and remain current" with regards to your mortgage. The beauty of this is that once you receive a discharge in a chapter 7 you will no longer be liable for the mortgage and as long as you remain current on your mortgage you will get to stay there. This is called a bankruptcy "ride-through".

    Thanks for the opportunity to answer your Bankruptcy question.

    William Waldner
    212-244-2882
    www.midtownbankruptcy.com

    We are a debt relief agency and help people file for bankruptcy under the US Code
    Attorney Advertising

    See question 
  • We filed ch.13 in 12/07 this was discharged in 12/10. we were buying a house. received 2 letters of auctions of the house .

    we moved out about 21/2 yrs ago thinking the house was auctioned off and we no longer owned it. about 3mos. age we received letters from a mortgage co. telling us they now own our mortgage. we never received any information that we still owned it...

    William’s Answer

    Your house may not have been properly surrendered in the 13. Your case can be reopened but must be done properly. Either your attorney should have arranged to have it quick claimed to the lender or he/she would have filed a motion forcing the lender to accept a quit claim deed. Regardless, I am sure a good foreclosure attorney can challenge the new lender.

    See question