Erick J. Bohlman’s Answers

Erick J. Bohlman

Crystal Lake Bankruptcy Attorney.

Contributor Level 11
  1. Why can't I convert my chapter 13 to chapter 7. (my attorney says I can't convert because I filed chapter 13 in 2005)

    Answered about 3 years ago.

    1. Erick J. Bohlman
    2. Mitchell Paul Goldstein
    3. Michael John Primus
    3 lawyer answers

    Although I don't know the details about your specific case, it sounds like you may have had debt discharged within the last eight years. If your 2005 bankruptcy was discharged, then you can't discharge new debt in a Chapter 7 until eight years have passed. This is measured by the date your new case was filed (not the date it would be converted). Thus, you may have to wait until 2013 to file a Chapter 7.

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  2. I owe a $8000 in medical bills. I am a student and a part-time worker. What should I expect

    Answered about 3 years ago.

    1. Erick J. Bohlman
    2. Stephen M Trezza
    2 lawyer answers

    Perhaps you can negotiate an acceptable payment plan with the hospital. In my experience, hospitals are generally more willing to work with debtors than most other creditors such as banks and credit card companies. If not, you can always consider bankruptcy options. Of course, if you have a defense to the sums owed, you may want to fight the hospital (in court or perhaps through an arbitration). In this case, you would definitely want to consult with an experienced attorney.

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  3. I have credit card debt, and an IRA which I draw on to cover expenses.

    Answered about 3 years ago.

    1. Erick J. Bohlman
    2. Dean David Paolucci
    3. Tara Leigh Goodwin
    4. Stephen Clark Harkess
    4 lawyer answers

    Depending on the situation, there are several alternatives that may be available to consumers who are facing financial troubles. If the debt at issue is primarily unsecured debt, debt relief agencies may be able to help consumers by negotiating reduced payments and additional time to pay debts. In most of these programs, the debtor will sign up with a debt relief company who will attempt to negotiate a lesser amount and/or longer terms with creditors. In some cases the reduction in debt can...

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  4. I have not worked in two years. I have an IRA, but no income. I have 8,000 in credit card debt. Can I stop making payments?

    Answered about 3 years ago.

    1. Erick J. Bohlman
    2. Damon Terry Duncan
    3. Dorothy G Bunce
    3 lawyer answers

    The answer depends on a variety of factors. If you qualify for a Chapter 7 bankruptcy and if you intend to file one soon, you may be able to stop making credit card payments now (but you should meet with an attorney first to make sure you qualify and that it is reasonable to file). Once you stop paying, creditors can take you to court. If they obtain judgments against you, they can do certain things that will make life inconvenient (or worse). Although you are not working (so they cannot...

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  5. I filed a chapter 7 bankruptcy may 2003. Can and how do I get this removed from my credit reports

    Answered almost 3 years ago.

    1. Erick J. Bohlman
    2. Shannon E Wynn
    3. Dorothy G Bunce
    4. Jai Prakash Dadlani
    5 lawyer answers

    A Chapter 7 bankruptcy can remain on your credit report for ten years (most other items are just seven years). Once ten years has exired, you should pull your credit report again (from all three credit bureaus) to verify that it is no longer listed. If so, you should write a dispute letter to each bureaus (most bureaus allow you to do this online through their websites).

    2 lawyers agreed with this answer

  6. What are tax consequences of DIL?

    Answered almost 3 years ago.

    1. Erick J. Bohlman
    2. Henry Daniel Lively
    3. Steven Francis Schroeder
    3 lawyer answers

    Generally speaking, debt that was forgiven as a result of a short sale, foreclosure or deed in lieu of foreclosure is not considered income to you for tax purposes IF YOUR HOUSE WAS YOUR PRIMARY RESIDENCE at the time. However, many former homeowners are receiving 1099C forms from their banks after having done a short sale, DIL or gone through a foreclosure. This is because banks may need to issue this form in order to “write off” their loss. Fortunately, most former homeowners sho have gone...

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  7. Co owning a house and bankruptcy.

    Answered almost 3 years ago.

    1. Marc Gregory Wagman
    2. Erick J. Bohlman
    3. John Gerth Merna
    4. Nicholas I Fuerst
    4 lawyer answers

    If the house is your primary residence, you could protect up to $15,000 in equity (out of your half). IIf it is not your primary residence, there is no exemption that would apply. It sounds like you have $25,000 in equity, which means that the house could be sold by the trustee in your case. Your friend would have a right to argue over the sale price and would probably be given a chance to buy out your share, but the house would otherwise be subject to liquidation.

    1 lawyer agreed with this answer

  8. I filed bankruptcy 11 years ago and it is still showing on my credit report, how do I get this removed?

    Answered about 3 years ago.

    1. Erick J. Bohlman
    2. Dorothy G Bunce
    3. Mitchell Paul Goldstein
    4. Stephen M Trezza
    5. David Michael Benson
    5 lawyer answers

    Chapter 7 bankruptcy should remain on your credit report for ten years. Since you filed eleven years ago, you are generally entitled to have this item removed from your credit report. You should file a dispute with all three credit reporting bureaus (transunion, experian and equifax). You can do this online or through the mail. It may take up to six weeks, but then your credit reports should be updated and this information should be deleted.

    1 lawyer agreed with this answer

  9. Can a collection agency freeze your bank account before they take you to court to obtain a judgement

    Answered about 3 years ago.

    1. Erick J. Bohlman
    2. David Matthew Gotzh
    3. Mitchell Paul Goldstein
    3 lawyer answers

    The simple answer should normally be "no." Generally speaking, a creditor cannot take money out of your bank account without your permission (until and unless they first obtain a judgment against you). Therefore, you should carefully review the agreement to see if you authorized them to automatically debit your account -- this is more common with payday loans. Keep in mind that there special exceptions for credit unions (as compared to "regular" bank accounts) which may allow them to offset...

    1 lawyer agreed with this answer

  10. Should I file bankrupcty because my house was foreclose in 2008 and it was also sold in 2008 the second mortgage was never paid.

    Answered about 3 years ago.

    1. Erick J. Bohlman
    2. Dorothy G Bunce
    2 lawyer answers

    You are correct that social security income is exempt from garnishment. With this in mind, you may want to consider alternatives to bankruptcy. Nevertheless, a bankruptcy would discharge the remaining mortgage debt in your case because you no longer own the home. If you have a lot of other debt (like credit cards and medical bills), a bankruptcy may help you to stop the annoying calls and lawsuits. If this is your only debt, though, I would typically recommend that you first contact the...

    1 lawyer agreed with this answer