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Tricia Stewart Terry's Answers
- 15 Legal Answers
- 1 Legal Guide
5
Attorney answers:
File Bankruptcy
Absolutely. While there are many factors that ultimately go into the decision, it is certainly something that should be explored. Especially if division of substantial debt is one of the issues. Going from one household to two has great economic effects on both parties.
1
Attorney answers:
Defaulting on a $20,000.00 loan for a car hauling trailer.
If you default on the loan it is likely they would repossess the collateral, sell it, and then pursue either you or the friend or both. In order to garnish funds or seize property (other than the trailer) the creditor would have to sue you and obtain a judgment. At that point they could then petition the court to garnish bank accounts. You may have some options as far as working out a settlement with the creditor in lieu of them suing you on the deficiency.
1
Attorney answers:
Is my home in jeopardy if it is in bad shape
Value is determined by what the fair market value of the property is-most trustees will accept a realtor or brokers opinion but the specific circumstance may require an appraisal. The circumstance regarding moving a lien from foreclosed home to a new one may create a dilemma and it is very fact specific. If it is a second mortgage on property you are intending to keep, you need to look to see if there is value supporting the lien or else you may be better off in a Chapter 13 where you could...
1
Attorney answers:
I have a tenant filing bankruptcy - can I be included in the bankrupty if they still live and/or have possession of my apart.
What ultimately happens and what you can do will depend on whether they filed a Chapter 7 or 13. If they filed a 13, you will need to look at the proposed plan treatment. If it is a 7, are they assuming or rejecting the lease? In either case you may need to look at filing a motion for relief from the automatic stay in order to proceed with action against them
1
Attorney answers:
My wife has Credit debt, that my name is not on; can she file bankruptcy alone? Our Morrtgage is the only joint acct.
Your wife can file for bankruptcy without you. The household income will be looked at as far as budget issues and the means test so she will need your employment earnings information but you do not have to file. This is actually a fairly common situation.
1
Attorney answers:
Can chapter 13 take an insurance settelment from my house being broken into to pay the debt in my chapter 13.
The attorney of record in your case will need to contact the trustee, which should be Carl Bekofske, to determine treatment of the proceeds. A stipulation can be entered in to which should satisfy your insurance company.
2
Attorney answers:
I am a year into my Chapter 13 and my payments are up to date. Can I add debt to my Chapter 13 once the plan has been approved?
Well, the short answer is no, you cannot now amend the Chapter 13 plan to include this debt. You should however consult the attorney of record for any questions regarding your specific situation.
1
Attorney answers:
I have student loans that were consolidated and now in collections, can I include those in my bankruptcy?
Student loans are ultimately non-dischargeable in either a Chapter 13 or Chapter 7 bankruptcy. However, in the Eastern District of Michigan in a Chapter 13 student loans have to be treated like other unsecured creditors during the course of the plan. What this means is that for the term of the Chapter 13 you will not have to deal with them separately, they will be a part of the plan, but they will still be there when the bankruptcy is done.
2
Attorney answers:
Can a bankruptcy be amended to include medical bills. filed in march 2007 surgery in july of 2008 bankruptcy dismissed in 08/
It depends on what type of bankruptcy you had filed, 7 or 13, and it also makes a huge difference as to whether you mean dismissed or discharged. If the case was dismissed, you could potentially re-file and include the debts. If it was a Chapter 7 and discharged, then you remain responsible for the medical debt incurred after filing. I would assume however, that based on the dates you listed that it was likely a Chapter 13 and you could re-file if you can show a change in circumstances.
3
Attorney answers:
If my ex wife files for bankruptcy, will creditors come after me?
The prior post is correct as far as liability goes. You are on the hook. You may however be able to pursue your ex on an alimony theory if the debt can be classified as a "domestic support obligation". There are some tricky interactions between divorce decrees and bankruptcy.