Karl J. Wulff's Answers

In the divorce my spouse was suppose to buy me out of my half of the houses he file bankrupt on the money amount, do i still hav

If I understand your question correctly, you are asking whether your husband's bankruptcy filing eliminates his obligation to pay you the amount due to you for your equity in the marital home. The answer is "no" (with a small caveat). Prior to the enactment of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) which went into effect on October 18, 2005, only debts in the nature of child support or alimony (called "spousal maintenance" in Illinois) were...

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If i owe social security back pay will bankrupcy discharge that debt?

There is a persistent popular myth is that no debt that you owe to the government can be discharged in bankruptcy. This is 100% false. Although some government debts (such as taxes on income or gross receipts incurred within three years before filing bankruptcy) can not be discharged, most government debts CAN be discharged. An overpayment of Social Security benefits is almost always dischargeable in bankruptcy so long as the benefits were not claimed fraudulently. While you will not be...

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Chapter 7 Bankruptcy - No prior 6 months income?

You statement that you had "all losses" and "no income" suggests that you may be conflating the concepts of "income" with "net profit/(loss)". The Chapter 7 "means test" requires you to look at *gross income* for the six month period preceding the month in which your petition is filed. Different bankruptcy jurisdictions have split over the issue of whether "gross income", with respect to businesses owned by the debtor, refers to gross receipts or net income/(loss). You should consult a local...

I just got a job 1 month ago. How does a creditor find out where a person is working to garnish wages? how long does this take?

Debtor collectors use so-called "skip tracers" to locate debtors. The specific methods used by skip tracers are a closely-guarded trade secret, although a surprising amount of information can be found by simply going online and running a Google search. Before a debt collector can garnish your wages it must first go to court to obtain judgment. How quickly your wages can be levied after judgment is entered is a matter of state law that varies widely from state to state. Although many...