Bruce Richard Epstein’s Answers

Bruce Richard Epstein

Youngstown Chapter 7 Bankruptcy Attorney.

Contributor Level 7
  1. Can I avoid a second mortgage in a chapter 7 bankruptcy if my house is worth less than what I owe on my first mortgage?

    Answered 11 months ago.

    1. Matthew Scott Berkus
    2. Bruce Richard Epstein
    3. Gailyn Wink
    4. Paul Elliot Ross
    5. Scott Russell Needleman
    6. ···
    6 lawyer answers

    Although there has been some allowance of mortgage avoidance in Chapter 7, it has not been permitted in the 6th Circuit, which includes Ohio. You may do so in a Chapter 13. Some courts allow the avoidance by Motion, others require an adversary proceeding. Bruce Epstein

    9 lawyers agreed with this answer

  2. Can I own my home in Ohio, and file bankruptcy with only Social Security income? My only debt is from credit cards. I don't ha

    Answered over 1 year ago.

    1. Bruce Richard Epstein
    2. Paula Brown Sinclair
    3. David Jay Sternberg
    4. Diane L Gruber
    4 lawyer answers

    In addition to what my colleagues already posted, be aware that the exemption (value in the residence that you can protect) increases dramatically around March 21, 2013 from $21,650 to $125,000 for each debtor filing. This may change the advice previously given in a consultation if the issue at that time was the real estate value. Consult again with a Bankruptcy lawyer where you reside.

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  3. If i win a civil lawsuit will the portion my attorney gets be considered preferential payment in a chapter 7 bankruptcy

    Answered over 1 year ago.

    1. Bruce Richard Epstein
    2. Kevin B. Zazzera
    3. Robert Perez Soto
    3 lawyer answers

    A contemporaneous exchange (payment) for value received, as well as payment in the ordinary course of business are exceptions to preference actions which would protect your attorney's receipt of his contingency fee during the 90 day preference period prior to the bankruptcy filing. If the lawsuit is not settled before the bankruptcy is filed, there are other considerations as the trustee may take control of the case (depending on value of your claim and your exemptions).

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  4. Does the co debtor stay apply to me?

    Answered over 1 year ago.

    1. Richard N Gottlieb
    2. Michael J Corbin
    3. Bruce Richard Epstein
    4. Joseph Ryan
    5. J. Thomas Smith Ph.D.
    6. ···
    7 lawyer answers

    If your nephew files a Chapter 13, provides to pay the claim in full, and he was the beneficiary of the loan, then the codebtor stay applies and protects you from collection.

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  5. Filed Banruptcy Chapter 7 in 07, now the city wants back taxes from 2005

    Answered about 1 year ago.

    1. Bruce Richard Epstein
    2. Daniel Boyd Waters
    3. David Michael Benson
    4. Aaron Matthew Tomczak
    4 lawyer answers

    The 2005 income tax was not old enough in 2007 to have been discharged in your Chapter 7. Accordingly the debt was not eliminated and you may be best served by trying to set a payment plan.

    6 lawyers agreed with this answer

  6. I had filed Chapter 13. Decided I needed to do Chapter 7, (new exemptions would save my home. Att. canceld 13 for me in March,

    Answered over 1 year ago.

    1. Bruce Richard Epstein
    2. Dorothy G Bunce
    3. Francis Rowland Pabst
    3 lawyer answers

    Reading between the lines, it appears that your Chapter 13 was dismissed so that you can file a Chapter 7 to take advantage of Ohio's new generous homestead exemption. Had you converted the case from 13 to 7, you would have been limited to the exemptions in effect when the 13 was started. Sometimes it takes a while for the dismissed case to close as the Trustee has to do a final report and may have waited for the final paid-out checks to clear the bank, etc, which your attorney cannot control....

    6 lawyers agreed with this answer

  7. In chapter 7, what are possible grounds to reply to a mortgagor's motion for relief of stay?

    Answered over 1 year ago.

    1. Bruce Richard Epstein
    2. Scott Benjamin Riddle
    3. Hermin A. Dowe
    4. Matthew Scott Berkus
    5. David Jay Sternberg
    5 lawyer answers

    You can still attempt a loan modification after relief from stay is granted. Is there equity in the property? What position is the Trustee taking re: abandonment? You should discuss this with your Attorney, if you do not have one, with rental property, this is probably not a case you should proceed pro se.

    4 lawyers agreed with this answer

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  8. Can my husband be held responsible for a debt I incurred and he knew nothing about

    Answered about 1 year ago.

    1. Bruce Richard Epstein
    2. Scott Russell Needleman
    3. Gary Joseph George Jr.
    4. Dwayne M Farnsworth
    4 lawyer answers

    Liability of your Husband to Amex could only be based on his contractual relationship with them. Since it appears from your comments that he never signed for the account and did not use it, he has no contract with Amex and thus no liability or responsibility to pay. I hope this answers your concerns. It also appears that you are not exposed to successful collection at this time. You may want to consult with an attorney who can determine if there are any missing important facts in your question.

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  9. I filed for chapter 7 bankruptcy - discharged in 3/06. Capital one filed a judgement in '09 for same debt - am I still liable?

    Answered 12 months ago.

    1. Bruce Richard Epstein
    2. Robert J Adams Jr.
    3. Scott Benjamin Riddle
    4. Dorothy G Bunce
    5. Eugene Ray Critchett
    5 lawyer answers

    Be sure to contact your Attorney. If this was an action to collect after the debt was discharged, you may be entitled t damages against the creditor, including your attorney fees for addressing the claim. There are facts that are not in your post which are important in analyzing this information.

    4 lawyers agreed with this answer

  10. Hello i filed chapter 7 in 2010. i just got audit from the rita tax service it came from brecksville where i work i

    Answered over 1 year ago.

    1. Bruce Richard Epstein
    2. David Eli Larson
    3. Alan D. Walton
    3 lawyer answers

    The 2008 through 2010 income taxes would not have been dischargeable in 2010, so adding them now would serve no purpose unless the trustee is still administering assets for distribution to creditors.

    4 lawyers agreed with this answer