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Ronald Jay Drescher
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Ronald Drescher’s Answers

191 total


  • How can I file bankruptcy without loosing my car

    Do I have to put my car in the bankruptcy

    Ronald’s Answer

    If you can keep your car payments current you will very likely be able to keep your car. In filing bankruptcy you will have to list all of your assets and all of your debts, so there is no discretion whether to put the car "in the bankruptcy", but that's just as well. The bankruptcy process is always easier when you fully disclose all of the aspects of your financial condition.

    I've attached a link to a video I uploaded about the impact of honest disclosure in your bankruptcy case. I hope you find it helpful.

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  • Why are fees greater for filing chapter 7 if assets are involved, vs no assets?

    Simple question. one of three invested owners in a home

    Ronald’s Answer

    • Selected as best answer

    It depends somewhat on the nature of the assets. If the debtor owns a closely-held business, then the attorney will be expected to collect, review, organize and deliver to the trustee a series of financial documents that will take additional time. If the assets are investment real estate then other documents will be required. In any event, there will be more time spent than expected in a normal no asset case.

    I have uploaded a video about no-asset cases, which you may find helpful. I've attached a link below.

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  • I live in Florida. Can i sell my house now? Have mtg & line of credit. I did chapter 7 and is discharged now

    I did not reaffirm either loan. I want to sell my house now and not sure if i can. i am current on both and not upsidedown if i sold now. Would i be able to get clear title? Would be able to keep any profits? I am confused! Mtg is showing ...

    Ronald’s Answer

    If your bankruptcy case is discharged AND CLOSED you should be able to sell your house even if you didn't reaffirm the debts. The questions is: can you convey clear title to your buyer? To do this, you will have to obtain lien releases from both lenders. If you can do this, then you shouldn't have trouble just because you filed bankruptcy and didn't reaffirm the debts.

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  • Should I ignore the judgement and file for bankruptcy in the future?

    if the collection agency obtains judgement against me (for about 1500), should i ignore it and file for bankruptcy in the future if i have no job, no car, i don't own a home? i have about 4,000+ in debt and all are in collections. the only thing i...

    Ronald’s Answer

    I agree with Michael Goldstein that it pays to have one or more free consultations with local bankruptcy lawyers so that you know your options. It may be that this particular judgment doesn't push you into filing a bankruptcy case now, but things may change for you in ways you don't necessarily like, and it will be good to have a lawyer that you know, like and trust when you need one.

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  • Is it too late to settle with a creditor a day before a civil hearing for unsecured debt in Massachusetts?

    If I owe around 1,300, what would be the least amount a creditor/attorney would accept to settle for? i've never been in this situation but I am trying to figure out if I can settle since I don't have an income and can't afford the entire amount. ...

    Ronald’s Answer

    You can settle any time, before, during or after the trial. However, before you offer any money, you should consider if this is your only debt, or if you have significant other debt. Will settling with this creditor really help you, or is it just a temporary bandaid? Do you have real estate? If not, then the entry of a judgment may not hurt you very much.

    This is a perfect opportunity to see a bankruptcy lawyer and discuss your options.

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  • If the plaintiff wins judgement against me for unsecured debt but I cannot pay, how do they go about satisfying their judgement

    Is there any chance of having the case dismissed? I am college aged but I had to drop out when I couldn't afford to pay for it anymore. what steps would they try and take against me? i want to know what to be prepred for. in case it matters, i don...

    Ronald’s Answer

    You won't be arrested for inability to pay and they won't likely take your personal belongings. If you don't file for bankruptcy and they want to examine you under oath about your income and your assets, cooperate. The only way you can end up arrested is if you fail to show up for a court ordered examination.

    I hope you can find a way to finish college somewhere.

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  • What if mortgage company mistakenly thinks home still in bankruptcy when it's not after refi?

    This is an interesting one. Long story short, I filed for chapter 7 bankruptcy and got it finalized in early 2009. My home I have a mortgage for wasn't reaffirmed for the debt in my bankruptcy. In 2010, I refinanced the home with the approval of t...

    Ronald’s Answer

    What makes this question hard to answer is that there would be no reason for you to have to get approval from the bankruptcy trustee to refinance in 2010 if your chapter 7 was finalized in early 2009.If you refinanced after the bankruptcy petition date you would be fully responsible for that debt. There are holes in your facts, you should verify them and discuss them with your attorney.

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  • I owe the state of Utah back taxes amounting to $22,000. They say I owe them $14,000 for 1998, 1999, 2000 and 2001.

    Can I sue the state of Utah? The will absolutely not negotiate or remove any penalties or interest. I hired tax law firm, but the state of Utah won't even negotiate with them. Also, the law firm itself has faulted; once by not even working my c...

    Ronald’s Answer

    These taxes may be dischargeable in bankruptcy, presuming they are income taxes and not some other kind of tax. Taxes these old are frequently discharged in bankruptcy.

    I have uploaded videos dealing with the discharge of taxes, I've attached links below. Good luck!

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  • Hi, I filed Chapter 7 in 2010. In 2011, I filed a wrongful foreclosure action against my mortgage servicer. The servicer

    alleged I lacked standing because I did not list this lawsuit in my BK schedules. The Judge agreed. I was allowed to reopen my BK case & amend my schedules in order to allow the BK trustee to take a position re: the estate's claims. The trustee...

    Ronald’s Answer

    While it is not likely that anyone will purchase this claim, sometimes defendants offer trustees nominal value, and the trustees accept. If this happens you'll have no choice other than to bid against the defendant. This happens rarely, but it does happen.

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  • My former employer is filing Chapter 7. He owes me 1 wk pay, 3 wks vac, and Insurance payments he never made how can I collect?

    My last day of work was June 15th 2012. I have 3 wks vacation coming. And he took out money to pay for my health insurance and never paid it and I was canceled. Plus he owes me for the last week I worked.

    Ronald’s Answer

    • Selected as best answer

    Both of my colleagues have posted very useful information. What is troubling to me about this picture is that your employer withheld money from your paycheck and did not turn it over to your health insurance provider and you were damaged. You may have claims against the president of the company for fraud and/or breach of fiduciary duty. If the company is insolvent an action against the president may be your best chance for a recovery. You should explore this possibility with your attorney.

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