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Adam Glenn Schachter

Adam Schachter’s Answers

72 total


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

    A friend was caught shoplifting last month. He received the demand letter but currently doesn't have a job and thought his parents would pay for it. Big shocker, they didn't. So the due date was yesterday, and he never paid. He had called the comp...

    Adam’s Answer

    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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  • Can I sue a person that has no large asset to cover amount owed? Person has been paying interest only but home is in sons name.

    Amount owed is $ 20000. and over one year past due date.

    Adam’s Answer

    Hello, the main issue is collectability. You could file suit, and possibly get a judgment, but if the person has no money to pay you, you are throwing good money after bad.

    The preceding response is not legal advice and should be construed as such. I encourage you to speak with an attorney licensed in your state regarding this issue.

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  • If I file Ch 7 Bankruptcy can I keep my house. I am unemployed but I can make the payments with help from my family.

    I owe $98k and my home is worth $100k based upon tax records

    Adam’s Answer

    So long as you are able to make your house payments, you should be able to keep your house.

    The preceding was not offered as legal advice, but for informational purposes only. I encourage you to seek an attorney licensed in your state to help you.

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  • After signing a reaffirmation letter for a car can I still turn the car in?

    I filed bankruptcy and was discharged in nov of 2009 and now I want to turn my car in.

    Adam’s Answer

    Hello,

    I'm afraid it's too late. You had a deadline to rescind the reaffirmation such that it would no longer count. The deadline was 60 days from the time your reaffirmation was entered with the court, or the date of discharge, whichever came later. If you turn the car in now, you will be responsible for any defeciency after its sale.

    The preceding was not offered as legal advice, but for informational purposes only. I encourage you to seek an attorney licensed in your state to help you.

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  • I refinanced a car that was part of bankruptcy, can i still surrender this to the bank without issues ?

    i want to make sure that i will not be held liable for the difference.

    Adam’s Answer

    Hello,

    If you refinanced the vehicle after you filed the bankruptcy, it would be a new debt that is not covered by the bankruptcy. You would therefore be liable for any defeciency if you surrendered it.

    Please do not take the preceding as legal advice. I offer it for informational purposes only. I am not licensed in your state and encourage you to speak with an attorney licensed in your state. Good luck.

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  • Do i have a right to convert from chapter 7 to chapter 13?

    I am filing chapter 7 and the trustee wants me to pay back $10,000 for the cars and now he after my business. Can i request to covert it from chapter 7 to chapter 13? Do they have a right to reject me or not?

    Adam’s Answer

    You can convert your case to chapter 13. In some jurisdictions, the Trustee could object to the conversion based on bad faith, but that is unlikely.

    If you have an attorney, it's best to speak with him and her about the issues that conversion to chapter 13 presents.

    The preceding was not legal advice. I offer the answer for informational purposes only. I am not licensed in your state and encourage you to speak with an attorney licensed in your state.

    Good luck!

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  • 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

    can they move? Can I try and negotiate with the mortgage co. to stay in my house? I have been making my mortgage payment on time since filling.

    Adam’s Answer

    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 purposes only. I am not licensed in your state and encourage you to speak with an attorney licensed in your state.

    Good luck!

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  • Do I need a debt consolidation lawyer

    Just been served with summons for lawsuit for debt thru bank of america and american express debt equals $20,000.00. Should I consider an attorney?

    Adam’s Answer

    You should certainly speak with an attorney to see what he or she could offer in terms of representing you with respect to the lawsuit, as well as negotiating your other debts for you.

    The preceding was not legal advice. I offer the answer for informational purposes only. I am not licensed in your state and encourage you to speak with an attorney licensed in your state.

    Good luck!

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

    My father is the primary on the credit card they said that it didn't matter and said it is a dual account, what can they do to me once it has gone to a charge off? He will also be filing for bankruptcy.. they mentioned they could take legal action...

    Adam’s Answer

    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 with an attorney.

    Good luck!

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  • My mom was served with my court summons, aren't they supposed to hand it directly to me? does this mean i haven't been served?

    my mom answered the door and was handed my court summons. they didn't ask her name or anything, just handed them to her. then my dad opened it to see what it was all about. so my question is.. was i legally served?

    Adam’s Answer

    It depends on the law of your jurisdiction. Many states allow for alternative service methods such as the one you describe, if attempts to serve the Defendant have proved unsuccessful.

    The preceding was not legal advice. I offer the answer for informational purposes only. I am not licensed in your state and encourage you to speak with an attorney licensed in your state.

    Good luck!

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