Adam Glenn Schachter's Answers

Received a civil demand letter, is it too late to make a deal with them if the payment date has passed?

They should still work with your friend. Your friend needs to contact them immediately and let them know what is going on, as well as sending in the money with a letter. The preceding response is not legal advice and should be construed as such. I encourage you to speak with an attorney regarding this issue. Good luck.

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Please explain a charge off- can I get sued, do I have to pay the money still?

Hello, There is no such thing as a primary/secondary when it comes to responsibility for the payment of a credit card debt. A chargeoff is the creditors way of writing it off its books, it could still sue you and/or your debt. The only way they would be able to review your assets is if they sued you, got a judgment against you and then forced you to disclose your assets. The preceding was not legal advice. I offer the answer for informational purposes only. I encourage you to speak...

Is it permissible to take out a 401K loan after filing Chpt 7 BK but before discharge?

Hello, It's probably going to be ok so long as at least 30 days has passed from the time of your creditor's meeting and your 401k is exempt. There could be several other factors at play and you should really speak with a bankruptcy attorney in your state to determine if this is a wise course of action. Please do not accept the preceding as legal advice. The answer is provided for informational purposes. I would encourage you to seek an attorney licensed and practicing in your state...

What if an unsecured creditor wins judgement against me and levies my bank account but my wages are direct deposited?

Once your paycheck hits the bank account, it is not going to be considered wages anymore. You must demand on a paper check and cash it a check-casher. If your employer absolutely refuses this, then you must have your wages direct deposited into an account of someone you completely trust. This is only a short term option though because a creditor aggressive enough to garnish a bank account will pursue other remedies if bank account garnishment is unsuccessful. Please do not take the...

What happens if I filed bankruptcy and credit card debt was eliminated and my ex was suppose to pay that debt?

Hello, This is more a question of family than bankruptcy. Unfortunately, creditors do not care about your divorce decree. If you were solely liable, they will seek payment from you only. If you successfully discharge the debt in a bankruptcy, you will no longer have liability on the debt. You will likely have a breach of contract claim against your ex for failing the satisfy the divorce decree. The problem is collection: you will have to pay an attorney to sue your ex and try to...

Received citation today (11/11/2010) from law firm suing a closed (out of business) company on behalf of their client.

Hello, There is some important information missing from your question that makes it hard to answer. Are you the owner of the company? Was the company incorporated? Did you sign any personal guarantees? A lawyer would need to know the answers to those questions before he or she could render an opinion.

We donot have a bank account can the do anything with texas muniple retirement or wages

Hello, You leave out some important information--have you been sued? Is there a judgment against you? Who is "they"? With some rare exceptions, wages cannot be garnished in Texas. Although a judgment creditor can garnish a bank account, bank account garnishment is fairly rare. When you let a trailer go back, the creditor has the right to sell it, apply the proceeds of sale, and then try to collect the rest of the balance from you. It is also likely that the loan documents you...

What to do about a debt collector, when you don't agree that you owe the charges?

It's also best to get informed about your rights under the Fair Debt Collection Practices Act which is found at 15 USC Section 1692. Googling "FDCPA" or going to the Federal Trade Commission Website, ftc.gov, should help you learn about your rights. Good luck.

Collection agency, but amount is disputed

The collection agency is likely governed by the Fair Debt Collection Practices Act which is located at 15 USC Section 1692g. You can goolge "FDCPA" to read up on it. Also the Federal Trade Commission website, http://ftc.gov has a lot of good info on the FDCPA. Unfortunately, if your friend has a dispute over workmanship, it's not a debt problem so much as it is a construction/quality problem, and he or she may need a real estate or general litigation attorney.

My house was in foreclosure, so I filled chapter 13. If my case is dismissed, what right does the mortgage co. have and how fast

Hello, The automatic stay ends the moment your case is dismissed. Without the stay, the mortgage company has the right to move forward with foreclosure proceedings if you are in default. Depending on the lender and its attorney, it can take anywhere from a few days to a few months before it begins action. You never have anything to lose by contacting the lender and trying to negotiate to keep your house. The preceding was not legal advice. I offer the answer for informational...

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