Sidney Joseph Diamond's Answers

If i start chaper 7 and forgot/did not tell income, can i still go back and file chaper 13?

You failed to mention how long ago you filed your chapter 7 case. I am going to make the assumption that the case has recently been filed and you have not received a discharge yet. The failure truthfullly and fully any part of your bankruptcy schedules is a very serious matter and result in a number of very bad things happening. The first thing that you need to do is contact your lawyer and inform him about the failure to report your income which includes one question on the statement of...

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Should a bankruptcy lawyer be able to give you advice on what to do about late mortgage payments?

Of course the lawyer should be there to give your friend advise on how to handle a post-petition arrearage situation. It is not all that unusal for people to get behind on their mortgage payments after they have filed a case. The problem here is that this is a post-petition obligation and now the challenge is how to fix the problem, which sometimes can be really dicey if the amount is large when compared to how much money your friend makes. This is not a question of spreading the past due...

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I need to file chapter 7 for my LLC but do not have the money.

I agree with Mr. Oney. Filing a bankruptcy for a defunct LLC, without any assets for a chapter 7 trustee to liquidate and distribute to creditors is a waste of time and money. There is nothing to be accomplished by filing a chapter 7 bankruptcy. Furthermore, you can nothing by the filing since business entities going through chapter 7 do not receive a discharge in bankruptcy.I know that may seem odd to you but the non-discharge provision was included when the present bankruptcy code was...

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What makes Chapter 13 bankruptcy different from Chapter 7?

A chapter 7 is a liquidation type of bankruptcy in which you request that your debts be foregiven except for debts secured by property you wish to keep and non-dischargeable debts like taxes. It is called a fresh start bankruptcy. A chapter 13 bankruptcy is a proceedings in which you agree to pay some or all of your debts back in monthly payments over a period of 3 to 5 years. This type of bankruptcy is called a wage earnerts plan.

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What property is exempt from bankrupcty?

Trying to figure out what is exempt and what is not exempt is impossible based upon the facts. Further even if the facts were flushed out I doubt anyone could tell without reviewing your entire case. In fact I doubt you could determine even which set of exemptions would work best, inasmuch as you have a choice between state exemptions and federal exemptions as well as other exemptions in other federal and state statutes.

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Confusion about wage garnishment for a credit card debt judgment in Texas?

I have practicing law for a great many years and the rule is "never say never". While I agree with the general prinipal that you can not garnish wages in Texas except under very limited circumstances there are always exceptions. For example, a wage withold order in a chapter 13 case is a form of garnishment. Another example I have actually had happen is where there is a judgment creditor in another state and the employer has office the state where the judgment was obtained and a garnishment...

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I lost my home through a short sale in 2009. I'm now filing bankruptcy. Do I need to include the deficiency in the petition?

Different states have different requirements or no requirments at all. However, the safe course of action and the required course of action is to list the mortgage company as a creditor. The bankruptcy code requires that you list all claims, including potential claims. Like real estate chapter 7 has three rules "notice", "notice", and "notice"

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Can usbank freeze my checking account for filing a chapter 13 with having a loan with them and how fast can they freeze it?

I think that you need to see a lawyer now. There are no enough facts to really answer the question.

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Credit card collection

First as far as the threats are concerned I would ignore them. They could only get a lien if they filed suit and then you no assets to go after. These threats are a violation of the Fair Debt Collection Practices Act. Calling a family member is likewise a violation. You can stop the calls easy enough by invoking the act itself. You will find a copy of the act on my webpage. Read it, it is easy to understand. You might want to consider filing a chapter 7 bankruptcy and get those folks off...

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I cant pay my payday loan payment and if they send my check though it will be declined what do i do

You are in the typical trap that many people get into with payday loans. I do not know how much you owe them nor what your other debts but one solution would be to file bankruptcy and wipe them out. I suggest you see a lawyer and let him go over your entire situation and get an informed recommendation from him/her.

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