Joshua Bradley Farmer’s Answers

Joshua Bradley Farmer

Rutherfordton Bankruptcy Attorney.

Contributor Level 10
  1. Can you "buy back" excess equity in your home when filing Chapter 7? My home is worth $20,000 more than the exemption.

    Answered over 1 year ago.

    1. Joshua Bradley Farmer
    2. Christian Tyler Spaulding
    3. Myron Wayne Tucker
    4. Matthew Jerome Gilbert
    4 lawyer answers

    The court won't "seize" the house but the trustee may attempt to sell it. You can certainly attempt to bargain with the trustee to keep the house with your exempt funds. DON'T remove the funds from the retirement account until you have reached a deal with the trustee. In return for a payment, he should agree for the estate to abandon the house. He will need to seek bankruptcy court approval of the transaction. Most trustees are glad to bargain with the debtor rather than going through the...

    8 lawyers agreed with this answer

  2. How to get inaccurate information removed from credit report

    Answered over 1 year ago.

    1. Joshua Bradley Farmer
    1 lawyer answer

    Inaccurate information can be removed from your credit reports by the dispute process which can be initiated online or in writing (and by the phone although it is not advised) with each credit reporting agency (CRA). The CRA must then investigate the disputed information by contacting the information furnisher (creditor). You will likely have trouble as it seems the student loan creditor will likely tell the CRA that the information is valid. I have had clients who were successful in sending...

    3 lawyers agreed with this answer

  3. Hello - a debt collector has called my mother-n-law a few times looking for me. she has told them i do not live there.

    Answered over 1 year ago.

    1. Joshua Bradley Farmer
    2. Jayson Lutzky
    3. David Michael Kasell
    4. Jonathan David Warner
    4 lawyer answers

    They appeared to have violated the Fair Debt Collection Practices Act (FDCPA). A debt collector is allowed to contact a third party only to attempt to locate you. They cannot disclose any information about the nature of the matter and certainly cannot tell a third party that you owe them a debt (assuming you qualify as a "consumer"). By telling your M-I-L that they are a credit solution company looking for you, they implicitly told her that you owed them money. Contact an FDCPA lawyer. $...

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  4. If Friend "A" can't pay the outstanding debt to debt collector. Can he be incarcerated in county jail?

    Answered over 1 year ago.

    1. Joshua Bradley Farmer
    2. Myron Wayne Tucker
    3. Dorothy G Bunce
    3 lawyer answers

    It doesn't sound like we have all the details here. Our courts don't put people in jail for owing money. They do put people in jail for violating court orders, subpoenas, etc. It sounds like your friend did not comply with something he was ordered to do

    4 lawyers agreed with this answer

    1 person marked this answer as helpful

  5. What options does my adult son have to deal with a default judgement against him in his former state of residence?

    Answered over 1 year ago.

    1. Cort Ian Walker
    2. Joshua Bradley Farmer
    3. Kenneth Love Jr.
    3 lawyer answers

    He needs to hire an attorney in the state where he was sued in an attempt to overturn the judgment based on lack of service.

    2 lawyers agreed with this answer

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  6. I am President and 51% shareholder of business and have a partner who is VP and owns 49% share. The S-Corp business is failing.

    Answered over 1 year ago.

    1. Joshua Bradley Farmer
    2. Karen Jackson Porter
    3. Dorothy G Bunce
    3 lawyer answers

    You have posed numerous questions here: Firstly, you can - and it sounds like should - file for personal bankruptcy to deal with your personal obligations to the credit card companies and for your personal guarantees on business loans. You need to talk to an attorney about this. Your business partner will have to analyze the situation for himself as to whether he is eligible for bankruptcy relief or whether he will have to satisfy the obligations he incurred/guaranteed from his assets....

    2 lawyers agreed with this answer

    1 person marked this answer as helpful

  7. I had a BK about 8 yrs ago and just received a class action settlement for $5k which went to the BK Trustee. Anything I can do?

    Answered over 1 year ago.

    1. Joshua Bradley Farmer
    2. Frank Paul Pipitone
    3. Sean Patrick Lewis
    4. Alan James Brinkmeier
    4 lawyer answers

    The issue is whether the cause of action which was resolved in the class action suit arose prior to your bankruptcy filing or after your bankruptcy filing (assuming you filed for chapter 7 relief). The analysis is a bit different for other chapters. If the cause of action arose prior to bankruptcy then it will belong to the trustee for the benefits of your creditors unless you can exempt it. If it arose after the bankruptcy filing date, then it does not belong to the trustee. Talk to a...

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  8. Personnal bankruptcy and my buisness

    Answered over 1 year ago.

    1. William B. Short Jr.
    2. Joshua Bradley Farmer
    3. Michael Glynn Busby Jr.
    3 lawyer answers

    The bankruptcy will remain on your personal creditor report for a period of ten years. Since your business is a sole proprietorship then your personal credit will likely get mixed up with your business credit. Consider forming a separate legal entity and build credit for that entity.

    3 lawyers agreed with this answer

    1 person marked this answer as helpful

  9. Foreclosure on my home . Eviction in on week,.need advise.

    Answered over 1 year ago.

    1. Joshua Bradley Farmer
    2. David Jay Sternberg
    2 lawyer answers

    You should discuss with a bankruptcy attorney whether a chapter 13 at this point would save your house. However, your chapter 13 plan would have to propose paying your mortgage payment and catching up any arrears over the next five years. You could perhaps restructure/lower your car payment in chapter 13. My concern based on what you have presented here is that a chapter 13 plan may not be financially feasible. You might consider surrendering the car (if you have other access to...

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  10. Can Assignee of Debt Demand More Than Amount Paid for the Debt?

    Answered over 1 year ago.

    1. Myron Wayne Tucker
    2. Andrea Darrow Smith
    3. Joshua Bradley Farmer
    4. Jeffrey B. Lampert
    5. Scott Richard Kaufman
    5 lawyer answers

    The assignee will not be limited to collecting the amount they paid for the debt. They could pay $100 for a $10,0000 debt and then pursue you for the full "face value" of the debt. If you are sued by an assignee, make sure their paperwork is in order and that they actually are the proper assignee of the obligation.

    3 lawyers agreed with this answer

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