Charles J. Schneider’s Answers

Charles J. Schneider

Livonia Bankruptcy Attorney.

Contributor Level 7
  1. Chapter 13 confirmation date

    Answered over 2 years ago.

    1. Charles J. Schneider
    2. Alan D. Walton
    3. Dorothy G Bunce
    4. James Portman Webster
    4 lawyer answers

    Normally, a single unsecured creditor does not receive special treatment in a confirmed chapter 13 plan as it is against the anti-discrimination policy set forth under 11 USC 1322(a)(3). It is hard discern how that creditor ought to specifically receive more money unless it is a priority creditor, secured creditor or a unsecured creditor with a co-signor that you wish to protect. If you reside in Roscommon, MI your case is undoutbtedly located in Bay City,MI - your trustee is Thomas McDonald....

    Selected as best answer

  2. Does my attorney have the right to be a jerk?

    Answered over 2 years ago.

    1. Charles J. Schneider
    2. Derek R. Caldwell
    3. Thomas R. Morris
    4. Walter C Oney Jr
    4 lawyer answers

    This is my public apology to this client if he felt belittled by this conversation on the phone with me. The reason that a synched monitor is used is so that he reviews the information placed in the petition simultaneously with me as I fill in his petition. This client was also informed to seperately review the information by reading it in the waiting room prior to signing it. A copy was then given to the client. I commend the client on further reviewing the documents after they were filed in...

    3 lawyers agreed with this answer

  3. What is the length of time after filing chapter 7 bankruptcy you have to wait until obtaining an asset?

    Answered almost 2 years ago.

    1. Charles J. Schneider
    2. Robert E. Lee Wright
    3. Jeffrey D. Holst
    4. Robert A. Stumpf
    4 lawyer answers

    This is a more complicated question then being answered. It sounds as if you exercized your statutory right of redemption and borrowed money to buy out the redemption. If you have the asset your (home) never left your hands and that you own it free and clear of the mortgage that foreclosed on it. If my assumptions are correct you can transfer the property today provided the Trustee has closed the estate.

    Selected as best answer

  4. I have two homes, second home is underwater, Could Chapter 13 benefit me?

    Answered over 2 years ago.

    1. Charles J. Schneider
    2. Stephen Nathan Doan
    3. Dorothy G Bunce
    4. John A. Steinberger
    4 lawyer answers

    You could surrender the second home in your chapter 13 plan but if it is used as a rental you may be able to cram it down. Yes, cram down is a legal term. In the context of a chapter 13 it means paying the value of the collateral rather than what is owed on it. It is not unusual for the real estate to be underwater. So, if the property is worth $50,000.00 and you owe $90,000.00 you may be able to keep it for $50,000.00 and discharge the remainder of the loan in the chapter 13 payment plan for...

    Selected as best answer

  5. Helping someone going into chapter 7 or 13 bankruptcy

    Answered over 3 years ago.

    1. Charles J. Schneider
    2. Dorothy G Bunce
    3. Raymond A. Kenney
    3 lawyer answers

    There is more than one issue with respect to the situation presented. The receipt of the money or its value in the pre-paid tution can effect your relatives eligibility to file a chapter 7 Bankruptcy as it could constitute income received within the relevant 6 months prior to filing your case thereby making you an above annual median debtor who is ineligble to file under a chapter 7. This is but one factor however in consideration. There are numerous other factors that determine your relatives...

    Selected as best answer

  6. I have a co-signer on car payment. I may be filing for chapter 13 and excluding my house and car and only including my credit

    Answered 2 months ago.

    1. Richard D. Granvold
    2. Charles J. Schneider
    3. Andrew Giles Freda
    3 lawyer answers

    I agree with may of the comments of the above attorneys. There should be no legal consequences to a co-signor by paying the debt in full with interest in a chapter13 plan. If this full payment is approved in your plan, then the automatic stay protects you, your car and an y co-signor on the car loan. What if any impact on the co-signor's credit may be is a different matter and not a matter of law but credit reporting industry standards.

    2 lawyers agreed with this answer

  7. Would the QDRO pension that I receive from my ex-husband be protected in michigan chapter 7?

    Answered over 2 years ago.

    1. Charles J. Schneider
    2. Alan D. Walton
    3. Thomas B. Baynton
    3 lawyer answers

    The QDRO pension may be fully exempted until such time as you receive it as cash. Therefore, it should not be liquidated prior to filing bankruptcy because then it would become cash. Cash is limited in the exemption amount of $11,975.00 by the wild card exemption under 11 USC 522(d)(5) of the bankruptcy code. That amount may be limited as well by other property that requires the use of the wild card exemption.

    2 lawyers agreed with this answer

  8. If home is already discharged in Chapter 7 does mortgage company even have to foreclose?

    Answered over 3 years ago.

    1. Theodore Lyons Araujo
    2. Charles J. Schneider
    3. Nanina Dekyi Takla
    3 lawyer answers

    Your home is not discharged of the debt. You are. The lien against the home for the payment of the mortgage debt survives the bankruptcy discharge. Keeping payments on time does not guarantee that the mortgage company will not foreclose on the home thus depriving you of ownership of the home. Payment of the property taxes will prevent the county from forefeiting the property for unpaid taxes and may encourage the mortgage to allow you retain the home in the form of a non-recourse loan if you...

    4 people marked this answer as helpful

  9. Mortgage not reaffirmed after chapter 7 if we walk away would it hurt my husbands credit score.

    Answered almost 2 years ago.

    1. Charles J. Schneider
    2. Peter Walter Weston
    2 lawyer answers

    Your bankruptcy had nothing to do with your husband's credit score. It only removed your liability for the loan. Bankruptcy does not wipe out the debt for the non-filing spouse. So long as current payments were made on the mortgage your husband should have had good credit based on the good performance of the loan. If he walks away (defaults on the loan) it will be reported as a defaulted loan on his credit report. Again your prior bankruptcy does not play a part in this discussion.

    1 lawyer agreed with this answer

  10. Can my mortgage company (GMAC who is in Ch11 Bankruptcy) change my pmt terms or collect early if I am in good standing?

    Answered about 2 years ago.

    1. Charles J. Schneider
    2. Mitchell Paul Goldstein
    3. James Portman Webster
    3 lawyer answers

    They will not be altering your loan to your disavantage. They may be in all liklihood selling your loan to a third party. You should remain alert to that possibility as future payments may have to be sent to them. I would not worry about it.

    1 lawyer agreed with this answer

734-591-4890