Matthew Scott Berkus’s Answers

Matthew Scott Berkus

Denver Bankruptcy Attorney.

Contributor Level 20
  1. Are gambling winnings factored into the 6 month income average in a bankruptcy filing? How about if you lost it all within

    Answered 8 months ago.

    1. Matthew Scott Berkus
    2. Richard D. Granvold
    3. Gary D. Bollinger
    4. David Eli Larson
    5. Jonathan Stone
    5 lawyer answers

    Yes, the winnings count as income, the losses are used to offset the winnings. You need to be explicit about the disclosure. You should not just list the "net" win/loss. You would disclose all winnings, and then disclose all losses so it is clear to anyone looking at your petition what is going on.

    12 lawyers agreed with this answer

    1 person marked this answer as helpful

  2. Our Chapter 13 was discharged late 2012, and we received a 1099-c from one of the creditors

    Answered over 1 year ago.

    1. Jacques H. Geisenberger Jr.
    2. Matthew Scott Berkus
    3. Dennise Louise Mccann
    3 lawyer answers

    Assuming a 1099-C, get IRS Form 982 and follow the instructions. It is painlessly easy.

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  3. How can I stop a repossession when my bankruptcy attorney didn't submit a reaffirmation and my chapter 7 recently discharged?

    Answered 14 days ago.

    1. Scott Benjamin Riddle
    2. Matthew Scott Berkus
    3. Mark Markus
    4. Kiley Zellner
    5. Chad E. Kemp
    6. ···
    6 lawyer answers

    The issue here is that you fell behind on payments. Reaffirmation is neither here nor there. Filing of the reaffirmation wouldn't have guaranteed any sort of repayment plan. Also, usually it is the lender that files the reaffirmation agreement, not your attorney. Lastly, some of what you said doesn't make sense. A reaffirmation agreement is not a requirement to close a case. You said your attorney had you sign a statement of intent. That you have to do. But you don't necessarily need...

    12 lawyers agreed with this answer

  4. My mother was advised by her bankruptcy lawyer to stop paying her mortgage in order to lower her interest rate..

    Answered over 1 year ago.

    1. Matthew Scott Berkus
    2. Michael J Corbin
    3. Dorothy G Bunce
    3 lawyer answers

    You can try. But it is a hard case to prove and win. Side note: unless your mother was in an adjustable rate mortgage, mortgage interest rates don't normally go up when a person defaults on payments. No bankruptcy attorney (except maybe really bad ones) will, out of the blue, tell a debtor to stop making mortgage payments. More likely, the comment was made in response to some question your mother asked. I am only saying this so you can get a sense of what you might be up against....

    12 lawyers agreed with this answer

  5. Chapter 7 bankruptcy. Does SBA loan get any special treatment or protection in bankruptcy.

    Answered over 1 year ago.

    1. Matthew Scott Berkus
    2. Rex Tran
    3. Michael J Corbin
    4. Robert Parkinson Taylor
    4 lawyer answers

    No special treatment vis-a-vis the fact that loan is an SBA loan, the loan obligation can be discharged in bankruptcy. However, SBA loans tend to be secured loans so the lien will often survive the bankruptcy or must otherwise be dealt with.

    12 lawyers agreed with this answer

  6. Judgement filed against me for collections, but plaintiff went out of business.

    Answered about 1 year ago.

    1. Matthew Scott Berkus
    2. Christopher Daniel Leroi
    2 lawyer answers

    There is more to the story. If a company obtained a judgment, that judgment is an account receivable and an asset. When a company goes out of business, assets are liquidated. It is possible that some entity purchased or has possession of the judgment and that entity could try to collect it against you. The mere fact that the company that obtained the judgment against you went out of business is not cause for getting the judgment vacated. Secondly, the judgment is entered by the court. As...

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  7. Can I file Chapter 13 when I just filed a Chapter 7 a few years ago?

    Answered 10 months ago.

    1. Matthew Scott Berkus
    2. J. Scott Dilbeck
    3. Brent Steven Snyder
    4. Christine B. Adams
    5. Dorothy G Bunce
    6. ···
    7 lawyer answers

    Yes, you can file the chapter 13 bankruptcy. That is increasingly becoming a common strategy that student loan lawyers, like myself, employ to deal with intransigent private student loans. However, there is a downside. When you complete the 5 year plan, any remaining balance is still owed and you may still be considered in default. Just understand that that chapter 13 buys you time, but doesn't necessarily solve the problem. On the flip side, if the lender won't play ball, you don't really have...

    9 lawyers agreed with this answer

    1 person marked this answer as helpful

  8. I have been issued a summons to appear in court for a credit card I have been unable to make payments on. What should/can I do?

    Answered about 1 year ago.

    1. Matthew Scott Berkus
    2. Robin Kert Hunt
    3. Shawn B Alexander
    4. Philip Anthony Fabiano
    4 lawyer answers

    Being sued for a debt is generally a symptom of a larger debt issue. In my experience, it would be highly unlikely that this is your "only" debt. If you have let it go this far, you should FIRST consult with a bankruptcy attorney so you can solve ALL your debt issues in one swipe. If for some reason bankruptcy won't work (highly unlikely, but still), then you may want to file an Answer to the summons and complaint to buy some time and see if you can work something out with the plaintiff's attorney.

    9 lawyers agreed with this answer

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  9. What's a fair price for a chapter 7 and a chapter 13 including filing fees?

    Answered 5 months ago.

    1. Matthew Scott Berkus
    2. Shaye Larkin
    3. Adrienne Marie Hines
    4. Steven Patrick Taylor
    5. Richard D. Granvold
    6. ···
    9 lawyer answers

    You are making the fatal assumption that a lawyer that charges less is offering the same thing as a lawyer that changes more. Legal services, even bankruptcy, is not a commodity. If you really want affordable (meaning, you want cheap), don't expect much service and you will almost never actually speak to an attorney. Your case will be handled by a paralegal that is only supervised (barely) by an attorney. Instead of focusing on price alone, you really need to think about what you want out...

    11 lawyers agreed with this answer

  10. Can I avoid a second mortgage in a chapter 7 bankruptcy if my house is worth less than what I owe on my first mortgage?

    Answered 9 months ago.

    1. Matthew Scott Berkus
    2. Bruce Richard Epstein
    3. Gailyn Wink
    4. Paul Elliot Ross
    5. Scott Russell Needleman
    6. ···
    6 lawyer answers

    If an attorney told you needed to file chapter 13 to strip a second mortgage, than you need to do a chapter 13. Very few districts have embraced chapter 7 lien stripping. So, a bankruptcy attorney in OH is the best source of information on the subject.

    11 lawyers agreed with this answer