Sidney Joseph Diamond’s Answers

Sidney Joseph Diamond

El Paso Chapter 13 Bankruptcy Attorney.

Contributor Level 12
  1. What makes Chapter 13 bankruptcy different from Chapter 7?

    Answered about 2 years ago.

    1. Diane L Drain
    2. Thomas John Cesta
    3. Scott L Greeves
    4. Sidney Joseph Diamond
    5. Derek R. Caldwell
    6. ···
    8 lawyer answers

    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.

    7 lawyers agreed with this answer

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

    Answered about 2 years ago.

    1. Walter C Oney Jr
    2. Sidney Joseph Diamond
    3. James Portman Webster
    3 lawyer answers

    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...

    5 lawyers agreed with this answer

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

    Answered about 2 years ago.

    1. Sidney Joseph Diamond
    2. Gary Alan Armstrong
    3. James Portman Webster
    3 lawyer answers

    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...

    4 lawyers agreed with this answer

    1 person marked this answer as helpful

  4. Are private student loans dischargable under a chapter 13?

    Answered about 2 years ago.

    1. Gary Alan Armstrong
    2. John Thomas Black
    3. Sidney Joseph Diamond
    4. Michael Avanesian
    4 lawyer answers

    No. Student loans are not dischargeable. There is a move afoot to change that as far as private student loans but it does not seem to have much support. There is a hardship exception to the non-discharge rule but the requirements are very hard to meet.

    4 lawyers agreed with this answer

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

    Answered about 2 years ago.

    1. Walter C Oney Jr
    2. Sidney Joseph Diamond
    3. James Portman Webster
    3 lawyer answers

    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...

    3 lawyers agreed with this answer

    1 person marked this answer as helpful

  6. Can chapter 7 or chapter 13 be cleared out after 7 years?

    Answered about 2 years ago.

    1. Nikhil J Chawla
    2. Alan D. Walton
    3. Douglas Gist Farquhar
    4. Michael Frank Chekian
    5. James Portman Webster
    6. ···
    6 lawyer answers

    It is my understanding that all bankruptcy cases remain on your credit report for 7 years.

    5 lawyers agreed with this answer

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

    Answered about 2 years ago.

    1. Barry Cahn Boykin
    2. Mitchell Paul Goldstein
    3. Sidney Joseph Diamond
    4. James Portman Webster
    5. Andrew Joseph Miofsky
    5 lawyer answers

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

    5 lawyers agreed with this answer

  8. What property is exempt from bankrupcty?

    Answered about 2 years ago.

    1. Sidney Joseph Diamond
    2. Paula Brown Sinclair
    3. Linda Joy Copeland
    3 lawyer answers

    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.

    2 lawyers agreed with this answer

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

    Answered about 2 years ago.

    1. Gary Alan Armstrong
    2. Patrick Begley
    3. Sidney Joseph Diamond
    3 lawyer answers

    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...

    3 lawyers agreed with this answer

  10. Texas debt collection laws, does Texas have a statute of limitations on old debt

    Answered over 5 years ago.

    1. Gabriel Cheong
    2. Sidney Joseph Diamond
    2 lawyer answers

    While it is true there is a statute of limitation on the collection of most debts the question is when does the statute of limitations start to run and under what circumstances is the statute tolled (stops running for a period of time). In your case it is difficult to tell from the facts presented. Usually the statute starts running when a default occurs. I can not tell if there was one lawsuit or two involved in your situation. Again it is confusing. What is very clear is: They are...

    2 lawyers agreed with this answer

    2 people marked this answer as helpful