Diane L Drain's Answers

What makes Chapter 13 bankruptcy different from Chapter 7?

Yes, you should talk to an experienced bankruptcy attorney before deciding whether bankruptcy will help you in your unique situation. Most all consumer attorneys offer an initial free consultation. Below is a link to a series of free videos that explain the basics of bankruptcy. Let me know if you would like a free consultation.

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Can you keep construction work truck w/tools of trade exempt from (chapter 7) and also keep 2 means of transportation allowed?

The Arizona exemptions allow each person to exempt up to $5,000 in a motor vehicle, or $10,000 if you are handicapped. In addition, each person can exempt up to $2500 in tools of the trade. You can combine your exemptions for tools of the trade - giving you $5,000 (if two adults). A link to exemptions is attached. Of course, this assumes you lived in Arizona for at least the last 2 years. Make sure to talk to a competent bankruptcy attorney because normally there are methods to secure...

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When calculating time for a Defendant to file an Answer, does one count from the filing date or the docket date?

In Arizona the deadline for filing an answer is 20 days from the date of service if you are served in state. If you do not file an answer then the creditor will file an affidavit of default and obtain a judgment. Usually that judgment is signed within 10-15 days after the filing of the affidavit of default. Once the creditor obtains the judment they can conduct a debtor's examination (see the attached list of exempt property), garnish bank accounts (with no notice) and serve a writ of...

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After filing chapter 7 & discharged, do I still need to pay my line of credit?

To answer your questions in reverse order - yes the home is still yours. No you should not reaffirm the second mortgage. Most likely this was the type of loan that you could be used on if you signed a reaffirmation agreement and later the house was foreclosed. So, good news - if you want to keep the house just keep paying the first, second and any HOA. The bad news - if you want to be completely protected you neeed to pay the first, second and HOA. You might consider filing a chapter...

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How long do I have to wait to cash out my retirement after my chapter 7 bankruptcy in Arizona is discharged?

I assume that you filed your own bankruptcy without the help of an attorney. Assuming that you have a traditional retirement account it should be exempt under Arizona law. Attached is a list of Arizona Exemptions. If you own something that is exempt then you are welcome to do with the item as you please. That would include cashing it in, but make sure to pay taxes. Whereas, if your asset is not exempt, then you must wait to see if the trustee will make a demand for the asset.

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Pro Se Chapt 7 Dismissed - Can it be refiled

The answer is probably "yes". But you should consider talking to an experienced bankruptcy attorney before deciding your next step. Most Arizona bankruptcy attorneys offer a free consultation. Attached is a link to some basic videos about bankruptcy. I hope this helps.

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Schedule F amendment necessary for Chapter 7 in AZ?

First - no reason to apologize for needing to file on your own. Having said that most debtor attorneys offer a free consultation. Second, the Bankruptcy Court has a free Self-Help Center. See the link below. Now to your question - it is not as simple as it sounds. If you have any non-exempt assets that are administered by the trustee - then any creditors who were not listed in your bankruptcy can sue you. But, if your assets are all exempt, then an unlisted creditor, so long as you did...

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I am filing for Ch 7 and need to know what exemption to use?

Assuming you lived in Washington for two full years - then you use the Washington exemptions.

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If i keep paying will they be mine.

The bankruptcy law requires that you list all your debts (car and house loans) and all your assets (car and house) in your bankruptcy. In fact, at the creditor's meeting you swore under oath that you did list everything. The good news - if you want to keep a house or car - then keep paying for it. [cid:image004.jpg@01CD2957.31AB35D0] Diane L. Drain, Counselor and Attorney-at-Law Law Office of D.L. Drain, P.A. One East Camelback Road, Suite 550 Phoenix, Arizona 85012 (VOICE: 602.246....

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We filed Chapter 7 in September 2011 and it was discharged in November 2011. We have to pay the federal $135.00 and are

Hamid is an Arizona attorney, therefore you want to pay attention to his response. Arizona does not have a wild card, therefore your tax refunds cannot be exempted. But, all the answers are correct in that you should call your attorney, or if none, then the trustee. Most likely the trustee will require a copy of both the federal and state returns. Then the trustee will let you know if you need to remit a portion of the refunds.

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