Craig William Andresen’s Answers

Craig William Andresen

Bloomington Bankruptcy Attorney.

Contributor Level 3
  1. Can you use a credit card to pay for legal fees when filing bankruptcy

    Answered 23 days ago.

    1. Becky A Moshier
    2. Craig William Andresen
    3. Brian Christopher Fetzko
    4. Rachel Therese Schromen
    5. Shelley Ann Elder
    6. ···
    8 lawyer answers

    Section 526(a)(4) of the bankruptcy code states that a lawyer may not advise a client to incur a debt in order to pay the lawyer's fees for the bankruptcy. Also, charges on a credit card incurred just prior to the bankruptcy might be found to be non-dischargeable. This is why a lawyer won't let you charge the bankruptcy attorney fees on your own credit card.

    4 lawyers agreed with this answer

  2. Is There Derogatory Impact on Student Loan Cosigner when Borrower Files Bankruptcy?

    Answered 25 days ago.

    1. Craig William Andresen
    2. Shelley Ann Elder
    3. Nathan D McKinney
    4. Sandra A Kuhn Esq.
    5. Richard D. Granvold
    6. ···
    6 lawyer answers

    Once your sister cosigned your student loan, she and you became equally responsible for payment of the student loan. Therefore, your bankruptcy filing cannot shift the obligation over to her, because she was already equally obligated with you to make payments. Of course, if you make the payments, she will never have to make them herself, and if you pay on time, her credit report will never say that the student loan was in default. All of these things are true whether or not you file for...

    3 lawyers agreed with this answer

    1 person marked this answer as helpful

  3. Can a student loan lender confiscate your building lot, if they have a judgement against you in the state of Minnesota.

    Answered 28 days ago.

    1. Paul H. Weig
    2. Craig William Andresen
    3. Maury Devereau Beaulier
    4. Shelley Ann Elder
    4 lawyer answers

    Under Minnesota law, Minn. Stat. sec. 510.01, the land that you own and occupy is exempt from a judgment creditor. Because your son is not occupying the property, it can be seized to pay the debt.

    1 lawyer agreed with this answer

  4. Once the bank has sent the file to the foreclosure attorney, how soon is a sale date set?

    Answered about 1 month ago.

    1. Craig William Andresen
    2. Timothy Casey Theisen
    3. Michael James Wang
    3 lawyer answers

    The foreclosure sale will be scheduled only after the mortgage company's lawyer gives you thirty days to ask for verification of the debt. After that, their lawyer schedules an advertisement to run in your county's legal newspaper. The ad must run for six weeks before the sheriff's foreclosure sale date. Your mortgage company's lawyer may be unusually busy, or any number of other reasons could be causing the lawyer to hold off on scheduling a foreclosure sale.

    1 lawyer agreed with this answer

  5. Home loan and equity loan through same bank . Balloon payment due in 2021 on equity loan .Went bankrupt in 2006.

    Answered 16 days ago.

    1. Michael James Wang
    2. Michael J Corbin
    3. Craig William Andresen
    4. Jeremy S. Davidson
    5. Dane L Hines
    5 lawyer answers

    Whether you reaffirmed on the home equity loan or not, they can foreclose if you don't pay the balloon payment. However, a chapter 13 filing would give you five extra years to pay the balloon, or it could even allow you to strip off the equity loan, if the home is worth less than the balance owed on the first mortgage.

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