Scott Benjamin Riddle's Answers

Can a person file for bankruptcy if they are paying on two homes

Whether or not you should file for bankruptcy, or what Chapter (7, 11, 13) and whether you qualify for a particular chapter, is going to be based on much more and different information than you provided. Many people have more than one house, whether it is vacation home, rental, etc. Sometimes it is the extra expense that causes them to file. The easiest way to find out is to find a bankruptcy lawyer in your area.

I am overwhelmed by debt and need to file bankruptcy, but I can't afford a bankruptcy lawyer. What can I do?

Contact one or two bankruptcy lawyers, IN YOUR AREA. Most provide a free consultation and perhaps there is a way for you to file, if you need to, with little or no initial payment. You will not know until you ask, and he/she may be able to provide some insight on avoiding bankruptcy. Trying to do it yourself is almost always a bad idea and could possibly end up worse than when you started.

3 people marked this answer as helpful

Question about a Vehicle

Transfers of property to family members for no consideration (i.e., your son does not buy it from you at fair market value), are referred to as "fraudulent transfers" because they are made to shield the asset from the trustee or creditors. The Trustee can often go back several years to reverse the transaction, depending on the particular state law (in GA, for example, it might be 6 years). The 90 day and 1 year limits are for preferential transfers, which is a different issue. In addition,...

1 person marked this answer as helpful

Can bankruptcy trustee come after a car that was transferred to me and I have been making the payments

It is NOT the case that you do not have anything to worry about unless his name is on the title. His Bankruptcy schedules will (or should) disclose property that has been transferred out of his name, and the Trustee might ask about such transfers at the first meeting of creditors. A Chapter 7 Trustee would likely be very interested in the transfer and the value of the vehicle, since from your post, it was the boyfriend's property as far as title is concerned. If the Trustee wants to be...

1 person marked this answer as helpful