David A. Sebastian's Answers

Foreclosure

The Mortgage Forgiveness Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualify for this relief. This provision applies to debt forgiven in calendar years 2007 through 2012. Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married filing separately). www....

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House in foreclosure and sheriff sale, second mortgage debt discharged in bankruptcy, if I redeem am I still liable to them?

In a Chapter 7 bankruptcy, the house is property of the estate, unless and until the trustee abandons the property or the case is closed. In plain english, this means a debtor has no right to redeem the property, and those rights rest with the trustee, not you. Many of the trustees in our district are keeping the cases open solely to address an "underbidding" of the property at Sheriff Sale, and debtor's subsequent interest in keeping the property. Assuming the trustee had abandoned the...

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Diversion of business / Non-competition agreements.

If she is an at-will employee (meaning she doesn't have an employment contract guaranteeing her employment for a specific duration), then the company can fire her for any reason or no reason, including but not limited to her refusal to sign the noncompete agreement. It would not be a "forced resignation", but a termination.

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When you get married to a man and he is behind in child support or looses his job do you have to pay his child support?

No, you should not be obligated to pay child support under these circumstances.

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How does it affect my credit if my husband files for bankruptcy on dept he had before we were married?

If you do not file for bankruptcy, and you pay in full any debt that is owed by you, there should be no credit implications for you if your husband files a Chapter 7 bankruptcy petition. www.davidsebastianlaw.com. 248-758-2323.

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What kind of lawyer do I need to get a loan modification done.

As mentioned in a previous response, the bank is not required to modify your loan. However, through a bankruptcy proceeding, you may be able to eliminate any home equity/credit lines on the property. For many people, this is a great help and goes a long way towards their ability to keep their home. Feel free to call us for a free consultation. (248) 758-2323. www.davidsebastianlaw.com.

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Severance pay

Was the board vote memorialized in the form of a severance agreement? If so, then the board is bound to comply with the terms of the severance agreement. If the board vote was rescinded prior to you executing a severance agreement, you may still have a claim against your former employer. You need to retain counsel to more thoroughly review the facts and documents associated with your case.

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After 9 years of kids staying with father and not me by their choice i want my custody inforced by courts. what chance do I have

Are you seeking to change physical custody from your children's father to you? If so, you will first have to show that there has been a "change in circumstances" warranting the change in custody, and also that any change in custody is in the "best interests" of your children. If you are seeking to have the existing parenting time arrangement outlined in a court order (assuming it is not already outlined as such), then your hurdles are less and your chance of success is greater.

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What can i do if the non-custodial parent has a record but wants visitation?

Yes, it is possible (probable, given the facts you posted) for the court to require supervised parenting time. You will need an order from the Court setting the dates/times/conditions of the supervised parenting time.

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Is an i.o.u enforceable through the courts

You may enforce a promise to pay you by filing suit against the person that promised to pay you, but has refused to do so.

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