Francis N. Soaveā€™s Answers

Francis N. Soave

Saint Clair Bankruptcy Attorney.

Contributor Level 10
  1. We filed Chapter 7, later in the day, landlords filed eviction what about the "automatic stay" rule?

    Answered about 3 years ago.

    1. Francis N. Soave
    2. Norma Nodal Duenas
    3. Dorothy G Bunce
    3 lawyer answers

    The automatic stay does apply. The landlord must file a motion in the bankruptcy court for relief from stay before proceeding in district court. Any notice of the filing which was ignored by the landlord could lead to costs or sanctions.

    1 person marked this answer as helpful

  2. I'm divorced, filed ch 7 on 2 mtgs. ex still in house, served forclosure, i'm still on deed. am i responsible for anything?

    Answered over 3 years ago.

    1. Francis N. Soave
    2. Dean David Paolucci
    3. Theodore Lyons Araujo
    3 lawyer answers

    If the house was built in site condo development, there may be an issue with condominium dues. Otherwise as far as the mortgages, you must check there was no reaffirmation. This is primarily a concern with the second mortgage. Absent unique circumstances, the first mortgage shouldn't be an issue for you either way. Have you reviewed your credit report since your discharge to confirm all debts discharged are being reported correctly? This is the most common post-discharge issue.

    1 person marked this answer as helpful

  3. Does a joint chapter 7 that was discharged and closed in 2010 require additional tax filings other than ordinary yearly filing?

    Answered over 3 years ago.

    1. Francis N. Soave
    2. Theodore Lyons Araujo
    3. Ayuban Antonio Tomas
    3 lawyer answers

    Answers to your question will be much more informative and useful to you, as well as other readers, if you state the facts of your situation. Why are you asking about a 1041? Did you read somewhere that one was required in bankruptcy? Who advised you that a Form 982 was necessary? I assume that in addition to your chapter 7 discharge, you also had a foreclosure, short sale, or deed in lieu of foreclosure in 2010. As a result of the resolution of your home mortage, whatever the case was,...

    1 person marked this answer as helpful

  4. Are assets held in my name only in jeopardy if my wife gets sued?

    Answered almost 4 years ago.

    1. Francis N. Soave
    2. Craig S. Schoenherr Sr.
    3. K. C. Baran
    4. Danielle Jeanne Eliot
    5 lawyer answers

    No you are not responsible for her debts, so your assets would not be exposed to her creditors. Also, property in Michigan that is held by a husband and wife as tenants by the entirety also cannot be attached by a creditor whose claim is against only one spouse.

    1 person marked this answer as helpful

  5. LLC and Liability Insurance

    Answered almost 4 years ago.

    1. Christine Marie Heckler
    2. Francis N. Soave
    2 lawyer answers

    The LLC won't protect you from claims against you for your own negligence. What an LLC can protect against is vicarious liability. In other words, if your company has employees, vehicles, or property, and a third party is injured by an employee, equipment, a vehicle (not driven by you) or on property of the LLC's, and you are not negligent in the causing it in any way, then they may only sue the LLC, and/or the individuals involved, but not you personally. So the protection has to be...

    1 person marked this answer as helpful

  6. Can i break my lease if i dont feel safe?

    Answered almost 4 years ago.

    1. Jared Clayton Austin
    2. Francis N. Soave
    2 lawyer answers

    If you are in fear for your personal safety, you should take the steps necessary to assure your safety. If that means moving out, notify the landlord in writing of the reason you are terminating the lease. If the landlord attempts to pursue you in court, your defense would be the apartment is uninhabitable due to the attempted break ins. Have you filed a police report about the incident? It would be an important piece of evidence in your defense if you have.

    1 person marked this answer as helpful

  7. I filed bankrupcy last April, received discharge in November. At the time I did not reaffirm by Mtg.

    Answered about 5 years ago.

    1. Francis N. Soave
    1 lawyer answer

    It is not in your best interests to sing a reaffirmation, and it is too late to sign it. Contact the credit reporting agency in writing and dispute the payment history. Include proof that you are paying the mortgage on time and demand that they correct the report.

    1 person marked this answer as helpful

  8. Will i b responsible for the difference between the amount of the mortgage and the sale price

    Answered over 1 year ago.

    1. Tara E. Nichol
    2. Francis N. Soave
    2 lawyer answers

    I would strongly advise you to seek legal and real estate broker advise, in that order. You should be negotiating a short sale and actively communicating with the lender to avoid a foreclosure.

  9. Trust information!

    Answered about 3 years ago.

    1. Francis N. Soave
    2. James P. Frederick
    3. James Brian Thomas
    4. Eliz C A Johnson
    4 lawyer answers

    Trust terms are tailored and drafted individually in every case. It is up to the grator/settlor and his/her attorney to determine the terms. The trust terms you describe in your question are examples of terms which could be contained in an estate plan containing the trusts of spouses. There are other options as well. The trusts must be read by an estates attorney to provide an opinion.

  10. How does a family trust work? If he owned a business, does the business goto the trust if his wIll has a pour-over clause .

    Answered about 3 years ago.

    1. Francis N. Soave
    2. James P. Frederick
    3. Scott D Rosenberg
    3 lawyer answers

    Your father's pour over will would only be effective with regard to assets which were part of his decedent's probate estate. If there were no assets to be administered through probate, then the pour over will was never invoked. In the situation you describe, the conventional advise to the client (your father) would have been to title assets in his trust while he was alive, to avoid the assets becoming part of a probate estate. So it would be typical for the stock in the business to have...