Matthew Scott Berkus’s Answers

Matthew Scott Berkus

Denver Bankruptcy Attorney.

Contributor Level 20
  1. Do attorney trust accounts accrue interest?

    Answered about 2 months ago.

    1. Matthew Scott Berkus
    2. William J Popovich
    3. Paul Rutledge Durr III
    4. Christopher M Pyne
    5. J Todd Murphy
    6. ···
    7 lawyer answers

    Yes, but in most states, the interest does NOT belong to the client (nor, for that matter does it belong to the attorney). The interest is usually donated to a charity fund to help low income individuals access legal services. However, what happens to interest on client funds held in trust is matter of agreement (and attorney regulation). In certain circumstances, if a large sum of money will be held by the attorney, they can set up a separate trust account that earns interest and that...

    11 lawyers agreed with this answer

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

    Answered 9 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

  3. 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 about 1 year 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

  4. We're unsure what to do. Our adult son filed bankruptcy, after was discharged bought fairly new car & he can't afford it.

    Answered over 1 year ago.

    1. Christine B. Adams
    2. Gilbert Rodriguez Dizon
    3. Matthew Scott Berkus
    4. Dorothy G Bunce
    4 lawyer answers

    His BK cannot be revoked, but if the lender repossesses the vehicle, they can pursue him for the deficiency. As for creditor harassment, send a letter demanding they cease all contact with you.

    11 lawyers agreed with this answer

  5. If I file bankruptcy will the dmv remove my fees for the DIU I had and will my medical bills be removed also?

    Answered over 1 year ago.

    1. Kevin B. Zazzera
    2. Matthew Scott Berkus
    3. Gary D. Bollinger
    4. Marco Caviglia
    5. Jonathan Nelson Ward
    5 lawyer answers

    The fees from the DUI would not be discharged in bankruptcy. The medical bills may be a different story. If the medical bills are bills for your treatment not directly related to the DUI, then the bills should be discharged in bankruptcy.

    11 lawyers agreed with this answer

  6. My lien holder filed bankruptcy on my house, what do i do?

    Answered over 1 year ago.

    1. Matthew Scott Berkus
    2. James P. Frederick
    3. Donald F. Hawbaker
    3 lawyer answers

    I hate to say it, but the question doesn't make sense. Let's try to clarify. (1) Mom passed away, presumably she owned the house and you are stating that the house passed to you upon her death? (2) A lien holder is the person/entity holding the security interest in the house. Most commonly this would be the mortgage lender/servicer. Here is where the question goes off the cliff...if the lien holder (the bank) filed bankruptcy, that doesn't necessarily equate to you losing the house....

    11 lawyers agreed with this answer

  7. Vehicle after Chpt. 7 has been filed

    Answered over 1 year ago.

    1. Matthew Scott Berkus
    2. Dorothy G Bunce
    3. James Portman Webster
    3 lawyer answers

    You would know if you reaffirmed the debt (the process is obvious). Nothing can happen while the BK is still open. If you don't want the car you have the two options you already laid out. (1) do nothing, stop making the payments and let nature run its course, or (2) contact the bank and try to arrange a voluntary repo. If the car is sitting at a repair shop or tow yard, you should get it out of there so as not to incur storage fees. Those fees would not be discharged in your bankruptcy...

    9 lawyers agreed with this answer

  8. If i streamline a loan aft bankruptcy closed does it affect my ability to walk away from loan if I encounter financial hardship?

    Answered over 1 year ago.

    1. Matthew Scott Berkus
    2. Deborah F Bowinski
    3. Derek R. Caldwell
    4. Dorothy G Bunce
    4 lawyer answers

    Streamline is a term of art in the mortgage industry...assuming you are using the word correctly, you are talking about an FHA Streamline Refinance. If that is what you are talking about, the answer is easy. A refinance creates a NEW loan. A refi pays off the old loan. A refi, in reality, is you selling your house to yourself. It is an all new transaction. So, if you do a streamline refinance, you will lose the benefit of your bankruptcy discharge because you paid off the loan that was...

    9 lawyers agreed with this answer

  9. I have gotten conflicting advice. When will a federal direct student loan (collection account) fall off my credit report?

    Answered 3 months ago.

    1. Matthew Scott Berkus
    2. Ryan Berrard Moran
    3. Peter N Munsing
    4. Manuel Alzamora Juarez
    4 lawyer answers

    First, understand that if the loans disappear from your credit report doesn't mean you don't owe them. Credit reporting and federal student loans are somewhat of a gray area. FCRA does have rules related to how long accounts stay on a credit report, it is 7 years for collection accounts, 7 years for original accounts from when the account went past due. The problem is the underlying liability to pay the student loan never expires. When a new servicer inherits the account, its not clear they are...

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  10. Should I buy a car before filing chapter 13 bankruptcy?

    Answered 4 months ago.

    1. Matthew Scott Berkus
    2. Lisa Torelli McCue
    3. Sandra A Kuhn Esq.
    4. Brett D Weiss
    5. Jan Ingham Berlage
    6. ···
    6 lawyer answers

    Nothing wrong with doing some planning for a chapter 13 bankruptcy. A common pre-filing maneuver is for the debtor to obtain updated or additional, needed transportation. In general, the monthly payment should be less than (much less than $400 per month). The key question is affordability and the eventual feasibility of your chapter 13 plan. Also, the other problem is the equity exemption allowed in your state. Before going out and buying a car, hire your attorney first and allow him or her to...

    10 lawyers agreed with this answer

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