Joseph Wrobel's Answers

In the process of filing ch13. spouse has good credit. Should we get a legal seperation first?

I am sorry to "put you off" and not really answer the question, but there is too far too much information to be provided in order to give you proper advice. This really calls for advice from a local EXPERIENCED bankruptcy attorney who has completely reviewed all aspects of your finances.

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Just days from my discharge date, I received a notice from a lawyer from one of my credit cards. Do I have a right to fight?

What you are describing seems to be an "adversary complaint". Creditors have the right to file such a complaint within a bankruptcy, seeking a court determination that the debt should not be discharged. Fraud is one of the bases that can be used by a creditor. You are correct. It is not easy for the creditor to prove these allegations. It sounds as if you filed this bankruptcy on your own. If that is the case, you should hire an attorney to represent you with regard to a defense on the...

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I am in a chapter13.Paying back behind payments of my mortgage. I am struggling making my chapter 13 payments plus my mortgage.

Contact the attorney that filed the petition for you and schedule an appointment. Before doing that, gather your pay stubs for the last few months and review the budget that your lawyer filed for you. It is possible to change chapter 13 plan payments under the right circumstances if there has been a change in income, expenses or both since your plan was confirmed. Your own attorney would be in the best petition to advise you whether this is possible.

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Should we file our tax return before we file for Bankruptcy?

Prepare your return. Have it reviewed by your bankruptcy attorney to determine whether or not you can retain the refund that you will have coming if you file the bankruptcy before you receive your refund. A local, experienced bankruptcy attorney will be able to let you know the dollar amount that qualifies in order to be retained. The attorney will also be able to advise you about retaining your home and one car. Bankruptcy is not rocket science but our U.S. Congress has made it...

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I had a permanent modification for 1 year, and then filed chapter 7 without reaffirming the mortgage. Does chap 7 void mod..

As long as you continue to make your payments, you can stay in your home. The bankruptcy discharge eliminated your legal obligation under the promissory note. The bankruptcy discharge did not eliminate the right of the mortgage lender to foreclose. You need not reaffirm the debt; just continue paying and the modified terms will control.

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I owe business credit card $35,000 max limit, I cannot afford to make minimum payment, will my business be foreclosure by bank?

The bank can sue the business, The bank could possibly sue you if you were a co-signor or a guarantor of the card. There is also the remote possibility of the bank suing you by "piercing the corporate veil". With that amount of debt and business being slow ( as are so many businesses nowadays ), contacting a local experienced bankruptcy attorney to review the possibility of a corporate and/or personal bankruptcy would be the best thing you could do for yourself. At least you will have a...

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Once I file my bankruptcy, how long does it take to go to court?

Not wanting to file bankruptcy is normal; it is not something that clients do with pleasure. A bankruptcy is filed when a client, with advice and counseling from an experienced bankruptcy attorney, determines that this would be the best possible course of action. A bankruptcy completes in just about 4 months, from filing date to the entry of the Order of Discharge. In our jurisdiction, the Northern District of IL, there is no court appearance scheduled, just a meeting with the Trustee...

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If I file bankruptcy will all previous judgements get wiped off my credit report?

Reminder - bankruptcy does not erase your credit. Credit is history. Existing judgments, like other bad debt, can remain on a report for 10 years. A Bankruptcy eliminates the any personal obligation that you have for the debt that underlies the judgment. The judgment, however, remains. Your credit report after the completion of the bankruptcy should show that the judgment was included in the bankruptcy. If you own real estate, have your bankruptcy attorney check into the possibility that...

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Can a reaffirmed debt be listed in a subsequent bankruptcy filing?

A reaffirmation is not valid unless signed, filed and approved before discharge. If reaffirmed after discharge and if the bankruptcy was not re-opened to have the reaffirmation approved, it would not be valid. A subsequent Chapter 7 ( must be 8 years, not 7 years) would discharge the reaffirmed mortgage if that is what you wish to do. A non-reaffirmed mortgage was discharged in the first case. A Chapter 13 can discharge, through payment or "surrender", a reaffirmed mortgage. Contact a...

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We have business debt that forcing us to file of chap 7. Will we required into a payment plan ? or just liquidate our assets?

I am aware that you posed this question in order to obtain an answer, but it would be remiss on my part not to tell you that the first thing you should do is contact a local, experienced bankruptcy attorney. With income of $200,000.00/year, the odds are that you will not qualify for Chapter 7. Whether you can qualify for Chapter 13 ( there are debt limits ) or need to file a Chapter 11, will require a complete, financial interview with an attorney. Your attorney, in order to advise you...

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