You have discharged the entire mortgage debt on your first mortgage if you did not sign a reaffirmation agreement. However, the bank retains its full lien rights, so you must continue to make your payments on the full mortgage balance or the bank can foreclose.
As a Broward County bankruptcy attorney, one point should be clarified with your question. I do assume you filed a corporate bankruptcy and had a separate personal guarantee. Then I would agree with the responses. You might now be beyond any statute of limitations which in Florida is 5 years on a written instrument. If your prior bankruptcy was in your name and you received a personal discharge after the conversion to chapter 7, then the guaranty should already be discharged.
The trustee would not be objection to the exemption amount you are taking, but this does not mean the trustee cannot make a claim on the equity. The trustee will file a Report of Abandonment on the car or a Report of No Distribution meaning the trustee is not attempting to recover any assets. You might have to check the court docket on this matter.
Reaffirmations can be tricky. There is a special requirement that if you do not reaffirm the car note that the automatic stay is lifted. On the other hand, you do not want to reaffirm a car loan on which you are delinquent. It may be unlikely that the lender will actually repossess the vehicle until after the discharge. This will depend on the lender. If this is a car you cannot afford, you should seriously consider whether reaffirmation is the best option or whether you have the ability...
There are different standards on valuation of vehicles. Some use retail, others trade-in, or in between. Trustees in South Florida typically want the funds immediately after the meeting of creditors. To avoid this issue, you might need to consider a chapter 13. Trustees do vary, even within the same district. You are right in trying to find a local attorney to better advise you on this issue.
The trustees sell all their right, title and interest to the property. This is a sale of your property, whether or not the "title" is good in the sense that the purchaser takes the property subject to the mortgage. These sales by trustees have occurred in South Florida. If the trustee proceeds with this sale, you are no longer the owner.
The landlord does not have to refund your security deposit because of your bankruptcy. A bankruptcy discharges or eliminates your debts. The landlord is holding your asset as security or collateral for possible property damage or for the last month's rent.
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There is no absolute income level as to filing for chapter 7. There is a concept called the means test where we first look at your income compared to the median income for your household size in the state. But depending on your reasonable and allowable expenses, you can be way above median income and qualify for a chapter 7. I have a fuller explanation of the means test at www.solomonlawoffice.com
Law Office of Jeffrey Solomon
You can retain an attorney to file a Motion for Relief from Automatic Stay in the bankruptcy court to complete the foreclosure. There might be other issues if the debtor filed a chapter 13 attempting to save the property, though you could probably prevail on the basis that the debtor has no right to a chapter 13 payment plan to save the property by filing after the foreclosure sale.
I agree with the prior answers. Transferring an asset can create a serious problem for you as to any bankruptcy. An attorney should be consulted an examine issues such as the value of the business including whether the corporation has any debt.