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Russell Baird Adams III

Russell Adams’s Answers

97 total


  • I just received discharge from Chapter 7 in California. My house has some equity. Is my 2nd now unsecured?

    My house value is around 425k. I owe 170k on 1st. and 200k on 2nd. My 2nd was included in the BK 7. Now it is discharged. Can I sell my house and pay off the 1st, but ignore the 2nd.

    Russell’s Answer

    The short answer is "NO". Your Chapter 7 discharged served to discharge you of your personal liability on your mortgages but did not have any impact on the liens on your house that secure those mortgage loans. If you sell the property, both the first mortgage and the second mortgage will need to be paid (unless they agree to a short sale).

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  • Had a lawfirm call and threaten a judgement for unpaid payday loan. i paid agreed settlement. they called back said cant accept

    I paid $1800 to a lawfirm claiming to represent a payday loan company I had defaulted payment on. They said that $1800 would settle the account. I got a personal loan and paid it off. They called back and said they can not accept my money becau...

    Russell’s Answer

    That sounds very fishy, to say the least. A creditor would ordinarily be more than happy to take your money and don't give a damn about whether you pay your other creditors. I would recommend talking to an attorney and showing him/her your documentation. They can call the law firm to see what is really going on.

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  • Filed BK, chapter 13, June 2010..HOA fees not added to 13, can I go back and add?

    Filed BK 13 in June 2010. I didnot add HOA as I was current. I then got behind in HOA and also needed to modify 13 in June 2011 due to lowering of income, again, I did not add HOA fees, as I was planning on getting HOA current(the HOA fees were o...

    Russell’s Answer

    Your HOA fees are post-petition debt and therefore not included in you r Chapter 13 case. It may be possible to amend your Chapter 13 Plan to include your post-petition HOA fees, but that generally requires the consent of the HOA. I am hoping that you filed this case using an attorney as Chapter 13 cases should not be filed on your own, though you are certainly allowed to do so. If so, talk to you attorney immediately as he/she may be able to talk to the HOA attorney to work something out. Otherwise, the HOA can seek relief from the stay for failure to make payments and foreclose

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  • I filed a 13 last in July of last year.....when I really wanted a 7....

    My attorney told me that a 7 wouldn't do me any good.... my payments was modified from 585 and is now 779, which makes my payments from each paycheck from 292. to 389. I cant afford that.... I am struggling more now since i've filed than I ever h...

    Russell’s Answer

    It is impossible to say without knowing why you filed a Chapter 13 in the first place. You may be able to convert to a Chapter 7. I would recommend to meet with an experienced bankruptcy attorney to discuss you options. Many will give you at least a free initial consultation.

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  • COMPLAINT OBJECTING TO DISCHARGE PURSUANT TO SECTION 523 AND 727 OF THE BANKRUPTCY CODE

    Is there a judicial counsel form that I can use to answer to a Complaint Objecting to my BK discharge pursuant to Section 523 and 727 of the Bankruptcy Code? If not what would my pleading title be ?? would it be an "opposition" or a "response" .. ...

    Russell’s Answer

    You would file and Answer to the Complaint. I would not recommend doing this yourself. You may think you are saving money by not hiring an attorney, but these cases can be complicated and often hinge on very specific points of law, and the risk is huge! Complete denial of discharge or denial of discharge of the particular debt....not a time to DIY!!

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  • Is there a Virginia lawyer who will collect a judgement for a percentage of funds collected?

    I have two judgements w/6% interest dating back to mid 2010. They currently total about $180,000.00. $!62,000.00 of that has fraud contained in the judgement. I don't have enough money to pay a lawyer to collect and Va. Law does not allow me to...

    Russell’s Answer

    In general, an attorney will take a case lie this on a contingency basis if there is a reasonable chance to collect. Otherwise, if the judgment debtor has no assets and doesn't work, regardless of how big a judgment it is, it is not worth an attorney's time to try to get one-third of nothing.

    That said, if the judgment is in your name personally, you can file Debtor's Interrogatories to see what assets the judgment debtor has, and file garnishments and levies...an attorney is not required for you to do that. However, if the judgment is in the name of a corporation, that corporation must be represented by an attorney in court proceedings.

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  • I have a credit card company wanting to sue me. they want the whole amount now. can i go to jail? what should i do.

    they said they filed against my social security already what do i do?

    Russell’s Answer

    First of all, you generally cannot go to jail for not paying a credit card, unless there was some sort of fraud involved. In most cases non-payment is a civil matter, not a criminal matter.

    Secondly, social security benefits are generally exempt from collection by creditors (other than the IRS and certain student loans). I'm not quite sure what you mean that they have filed against your social security...could you provide more information?

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  • Can payday loans still take money from your checking account after filing chapter 13 bankruptcy?

    I had a payday loan and they withdrew the money I owed months after I filed bankruptcy. What should I do?

    Russell’s Answer

    I agree with Mr. Goldstein. Your attorney should file a motion for stay violation and seek sanctions against the payday lender, assuming they were given notice of the bankruptcy filing. If they were not given notice, your attorney should send a demand letter first, and then if they don't return the funds, file the motion for sanctions. Talk to your attorney

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  • My business partner filed bankruptcy. Some of business debt is being paid in his bankruptcy . Do I still owe the full amount?

    I have tried to avoid filing bankruptcy and have paid alot off, but find it crazy to have to pay for a debt that my partner is paying and the bank owed went under and the new bank got fdic money .

    Russell’s Answer

    If you are liable on the debt then you still owe the full amount...however, whatever the creditors are getting through the bankruptcy will be applied to the balance owed and will reduce the amount you are liable for. The creditors cannot collect more than they are owed. The fact that the original bank went under makes no difference as to whether or not you owe the debt.

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  • My boyfriend and i bought the house both names on the deed. he is moving out. i cannot afford mortgage. what do i do?

    he doesnot care about ruining his credit. i do

    Russell’s Answer

    One more possible option is to try to sell the house. You will need his cooperation on that since he would need to sign the deed. Unfortunately, when you co-sign a loan with someone you hitch your wagon to their star, and if he doesn't care about his credit flaming out, then it is solely up to you with regard to the lender (though you may be able to sue for contribution from your boyfriend, but if he doesn't have any money then that may be worthless). I'd suggest talking to an experienced bankruptcy lawyer immediately.

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