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Ronald Jay Drescher
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Ronald Drescher’s Answers

191 total


  • How can we get the bank to take our house back?

    We surrendered it in a chapter 7 after a job loss. Lived there mortgage free for a year but after a new job and financial recovery we really wanted to move on with life. Finally we got a sheriff sale auction notice, found a place and moved out. A...

    Ronald’s Answer

    Your troubling story has become a nationwide problem, as more lenders are refusing to consummate their foreclosures of defaulted residential loans. At this point, unless you are willing to be a test case in litigation, there is very little you can do. An aggressive litigating attorney may argue that the bank has caused you to detrimentally rely on the initial sheriff's auction notice, and therefore the bank should be responsible for all charges that accrue after that date, but this is an untested theory.

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  • Chapter 13 Bankruptcy and Car

    So i had two consultations. A free one on Monday and I paid $25 for the one on Thursday. So here is the problem because I need to pick one of these two attorneys. I have a car. Monthly payment of $375 at 10.99% interest. Yikes. Not behind o...

    Ronald’s Answer

    Call back both lawyers. Tell them about the other's advice. Make sure they both explain their answers. From my experience, I agree with the other answers here on Avvo: I don't see how you can have the court modify the car loan and not make the payment through the trustee.

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  • My lawyer will not be able to attend the 341 meeting with me. And I have received 3 notice of appearance from creditors.

    What questions do creditors tend ask? Will I be able to processed the meeting without my attorney?

    Ronald’s Answer

    Don't go to the meeting without your lawyer. Have the lawyer postpone the meeting. It will be worth it.

    By the way, just because creditors enter an appearance in your case doesn't mean they will attend and ask questions at your 341 meeting. That almost never happens. The inquiry at that meeting is done by the trustee about your schedules, statement of financial affairs and other financial issues.

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  • Virginia: When filing personal bankruptcy, will property owned by a corporation in which I am the sole officer be exempt?

    the property is in Virginia, I am a resident of Virginia, property is primary residence or can be turned into a rental.

    Ronald’s Answer

    The question here is: what is the value of your corporate shares? If the house is worth less than the mortgage the likely answer is that the shares are worth $0. If the house is worth more than the question becomes more complex, because a trustee will be able to liquidate the corporation as the owner of the shares.

    You need to answer these questions, see an attorney and plan carefully.

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  • I need to file chapter 7 bankruptcy , but I inherited $18000 last month. What exemptions can I use?

    I am a single person and have no assets. House is WAY underwater. No car. no job. And lots of debt. I want to file ch. 7 and have a fresh start. However last month I inherited about $18000 from an aunt who passed away a few weeks ago. Can I ...

    Ronald’s Answer

    Don't be in a big rush to file bankruptcy. If your wages or assets aren't in danger of being seized, a quick filing is not necessary. Instead, you should get advice on how to properly plan your bankruptcy case to maximize the property you can keep.

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  • What kind of lawyer would be used for counsel on protecting assets from a lawsuit, including equity ownership in an s-corp?

    New jersey based business, being sued. Have an outstanding environmental liability that will be too costly to likely pay on own and want to protect personal assets, including ownership in an s corp.

    Ronald’s Answer

    You should talk to a bankruptcy lawyer about this issue. A primary function of a bankruptcy attorney is to help clients protect the assets they want to keep, if possible. One of the best ways to keep these assets is often to avoid bankruptcy altogether for some time, to best manage available planning methods.

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  • In Chapter 13 bankruptcy, if timeshare is exempt.....

    do you have to pay tax/maintenance fees? Timeshare is paid for.

    Ronald’s Answer

    Yes, tax and maintenance fees are part of the ownership burden of owning a timeshare. The real questions is: will the Chapter 13 trustee let you keep the timeshare? Many trustees view timeshares as luxury items, and so will fight you making these payments at the expense of creditors.

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  • What do you do when Mortgage Company files Chapter 11?

    Our Mortgage Company filed Chapter 11 on May 14, 2012. We just received a letter with the information. Do we start looking for another Mortgage Company? What legal rights do we have in a case like this? Thank you.

    Ronald’s Answer

    This chapter 11 filing has become very big news nationwide but nothing has really changed for the homeowners. Your mortgage is still your obligation to pay and is an asset in the chapter 11 case.

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  • Received summon for a credit card debt

    i have a CC debt for 12000 and it is my debt and i have to pay it. I am not denying the dept, and i am having financial difficulties. Some people are saying deny the debt and let them prove it, but it is wrong. What happens when i send them letter...

    Ronald’s Answer

    It is possible that either chapter 7 or chapter 13 may work for you. Keep talking to local lawyers. You will find one that makes you feel comfortable. It's hard to answer your question without more facts or a better understanding of Florida law. Good luck, bankruptcy may help.

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  • I filled bankrupcy on a credit card eight years ago and that card company bought out my current card can they transfer the amou

    can the old card company reinstate the amount to the card they took over from me

    Ronald’s Answer

    No, that amount has been discharged. It cannot be revived by purchase. Of course, you are still liable for the post-bankruptcy charges. Read the statements carefully, if something seems wrong contact an attorney.

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