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Jeffrey David Solomon

Jeffrey Solomon’s Answers

406 total


  • Chapter 7 or 13 bankruptcy?

    I'm recently divorced. My home irecently foreclosed on. It has 40,000 dollars in equity. My income is approximately 1700 dollars per montmonth. my vehicle was recently repossessed. I'm having a really difficult time making ends meet and credit car...

    Jeffrey’s Answer

    Based on the facts you have provided, with your income and assets, it does appear a chapter 7 would make sense for you. However, you should first consult with an attorney to make this evaluation.

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  • Secured debt (non-consumer), loan applications primary and secondary homes, Chapter 7

    I bought homes in early 2000, first using them as homestead and then converting them into rentals. After 1-2 years of stay each home became a rental. So, the loan applications for mortgages originally stated as primary residences, but the tax fi...

    Jeffrey’s Answer

    • Selected as best answer

    Mortgage secured debt is routinely discharged in chapter 7 bankruptcy. You would surrender your interest to the bankruptcy trustee who could attempt to sell the properties. All creditors have a right to object to discharge. Your question seems to go to this issue, which would involve whether the actual loan applications were fraudulent. But you are permitted to move, so that by itself would not be unusual. Whether the debt is consumer or non-consumer brings in other issues which should be discussed with your attorney(you might not be required to file a means test, for example). You should have good records as to receiving and spending the rental income.

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  • Person Injury settlement

    I was in a car accident in Feb this year. In the state of Florida is this type of settlement exempt from Bankruptcy? The accident settlement is not finalized and the bankruptcy has not been started yet- is is just being talked about as an option.

    Jeffrey’s Answer

    There is no specific exemption in Florida to protect the proceeds of an accident case. If you receive the settlement prior to filing bankruptcy, you will have to disclose the settlement. You will have to account for how you might spend the settlement funds.

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  • Stopping Foreclosure

    I have fallen six months behind on my mortgage payment due to surgery that had me out of work for 3 months. We were just served foreclosure papers today. I will have the funds available this Friday to pay the mortgage and make it current. Once I...

    Jeffrey’s Answer

    Lenders usually will permit you to reinstate the mortgage. However, you also will not have to pay court costs and legal fees of the lender. You will need a written reinstatement letter from the lender. Also, you do not want to ignore the deadline of 20 days from service to file a response at the courthouse. You should consult an attorney to protect your interests.

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  • My BK 7 discharge would I hire attorney to do consent to in REM judgement? And is Rem mean please thank you for time

    The mortgage served foreclosure papers and need to respond please help

    Jeffrey’s Answer

    "In Rem" means the lender is only seeking relief against the property so it can foreclose. They are not seeking a personal money judgment against you. If you are not attempting to retain or stay in the property, this may be a good idea so you no longer have any risk or responsibility as the owner of the property. You may want to consult with an attorney to be sure that what the lender is doing and to review the foreclosure papers.

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  • I had a collection company take me to court in 2001 and would like to have it removed from public record

    A collection company took me to court in 2002. We actually agreed to a settlement at court, and I paid off the debt two months later. The debt collection company informed the court the debt was paid. Since this debt is 13 years old, can I get it r...

    Jeffrey’s Answer

    You cannot erase the public record. However, from your question I am not sure if a Satisfaction of Judgment was filed in the public records. This should have taken place after you settled.

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  • My BK 7 was discharge on dec -2011 today some one show up at my house and he said he here to serve the paper foreclosure I told

    I told him I filling BK7 and was discharged , I no longer owned the property Trustee sold the property to investment company and he said by law the mortgage companies need served me this documentary i told him I need to speak With my attorney and...

    Jeffrey’s Answer

    • Selected as best answer

    By discharging the debt you cannot be sued for money. However, in a foreclosure, it is possible there remains a need to serve you in the foreclosure so that the bank can obtain good title after the foreclosure. An attorney would need to review all of the documents recorded involving the property.

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  • I have a chapter seven issue with poor record keeping. The records of my investments were held by the same individual who

    defrauded me and others and is now in jail. These records are from seven years ago. I do not know the exact amount of what I lent to the above individual, who borrowed money from me and then did not make promised mortgages. Will I get dismissed...

    Jeffrey’s Answer

    It is true that an individual filing bankruptcy has an obligation to preserve records to show what happened to his or her assets. But a transfer or loan from 7 years ago should not be a problem for you. A trustee in Florida, which can use the state fraudulent transfer laws, generally can look back 4 years.

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  • When should I surrender my car before I file for bankruptcy or during

    I plan on filing soon but the finance company said I can surrender the car now

    Jeffrey’s Answer

    There are pros and cons, and you may well want to keep driving the vehicle until after the case is filed and after the meeting of creditors. But you do need to maintain insurance as long as you have possession.

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  • Chapter 7 Bankruptcy in Florida - Federal or Florida Exemptions? Lived in Miami 12 yrs, abroad 3 yrs, back in Florida 9 months.

    Lived in Miami-Dade Florida from 2000 to May 2011. Left USA and lived abroad from June 2011 till August 2014. Back in the US, Palm Harbor, Florida from September 2014 to Present May 2015 (9 months). Rules are confusing. Are Federal or Florida exem...

    Jeffrey’s Answer

    • Selected as best answer

    In bankruptcy court, you must be a resident of the state for 2 years to use the state court exemptions. Since you have not been a resident of Florida for those 2 years, we then consider where you lived for the majority of the 6 months prior to 2 years ago. Actually, this issue then becomes quite technical, but as a practical matter, the likely result is that in bankruptcy court you would use federal exemptions. Under state law, if you do not file bankruptcy, you could use the Florida exemptions in Florida courts.

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