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Hamid Jabbar

Hamid Jabbar’s Answers

229 total


  • What is the process to assuming a residential lease in Chapter 7?

    The Statement of Intentions does not seem to cover this. Do I need to do anything proactive to assume my residential lease after listing it on Schedule G? I imagine this is common but I do not see a procedure described anywhere. I am current on...

    Hamid’s Answer

    There is nothing else you need to do. Your intention is merely stated on Form 8, and you if you continue paying the lease it will be assumed. Because it is an executory contract there is no need to file a reaffirmation agreement as is the case with pre-petition debts. In essence, you will be incurring new debts under the contract after the Bankruptcy and those debts would not be discharged in any event. Hence there is a very lax procedure for assuming executory contracts.

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  • Can original creditor sue for deficiency in AZ after voluntary repo? Do I get credit for the re-sale amount?

    After spending $2K repairing a used vehicle (new A/C, alternator, starter, 4 new tires, etc.) I leased at a buy here/pay here lot, I learned that the transmission needed repair too (another $2K). I decided to cut my losses. After informing the ow...

    Hamid’s Answer

    The UCC requires very specific procedures for secured creditors to obtain a deficiency. Even though the repossession was voluntary it does not absolve the creditor of their obligations to follow the law. That includes providing a post repossession notice in conformance with the UCC and a post-sale notice explaining the deficiency. In general, when a creditor resells the collateral they would have to credit the sale price to your debt. You need to make sure you properly answer the civil complaint and assert your defenses (and any possible counterclaims) within the appropriate time to respond. I suggest you find an attorney immediately or research the UCC yourself.

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  • First mortgage holder has filed for relief from automatic stay asserting there is no equity in the house. How can I challenge?

    I have filed for Chap 7 and the First mortgage holder is requesting relief from automatic stay on the grounds that there is no equity in the house. There is another Note recorded against the house that could be a possible preference. If the Note i...

    Hamid’s Answer

    In an individual Chapter 7 the Trustee would be the one to pursue any preference action on behalf of the estate. If the Trustee believes there is going to be equity, he or she will likely oppose the lift stay motion. You can contact your Trustee and ask whether they are going to be opposing the motion. If they are not planning on opposing it, you could oppose it yourself on the grounds that you state.

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  • Do you need to protect any more than current equity for a margin of safety in a Ch 7 bk?

    I am consideing 703 in a bk since I don't have a lot of equity and other property to protect however, that barely covers it with no extra "padding". Since I want to keep my home, am I being paranoid or are people filing better off claiming extra j...

    Hamid’s Answer

    You might want a little padding. If you are concerned about having excess equity you may consider having an appraisal or broker price opinion done just to be sure. You could then present that opinion to the Trustee to support the claim in your schedules.

    Most Chapter 7 cases are fairly quick (over within 90 - 180 days) so appreciation after filing is not usually a concern. However, the values you list on the day you file could change in time if market conditions change before the Trustee has completed analysis of your estate. In complex cases (usually Chapter 13 or Chapter 11) when I want to lock in the value of a specific item of property early in the case I would normally file a motion to value the asset so that six months later the Trustee or a creditor cannot come back and claim that the value has increased.

    Your attorney should be able to help you with valuation and exemption issues so I recommend you consult him or her.

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  • After filing ch 7 bankruptcy, I have now accepted a new job@140k a year&when I filed made 72k. Do I need to file an amendment

    BK hasn't been finalized and I will not tell my BK lawyer because I'll lose my discharge of 150k

    Hamid’s Answer

    • Selected as best answer

    I agree with the prior answer for the most part. There might, however, be an issue if you had this job lined up and knew that your income would be $140k going forward when you filed your petition. In that case, your Schedule I would need to reflect your income and any anticipated changes. But, assuming you had no idea you would get this job, your schedules do not need to be amended. As for your discharge, I really don't understand why you think you would lose it.

    Also, not telling your lawyer does not really help your situation. Because you have an attorney you really need to consult with him/her regarding how to proceed. Your attorney has a duty to act in your best interest and I would not substitute the free information you receive online for sound legal advice from your lawyer who you paid to represent you.

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  • Can you plagiarize yourself?

    This happened to me while I was in college and continues to haunt me! I was written up in a class for plagiarism. I used MY calculation explanations that I used in another report (which I submitted, but dropped the class before receiving a grade f...

    Hamid’s Answer

    • Selected as best answer

    This is not a legal question, but self-plagiarism is often prohibited in academic settings. We dealt with this issue a lot in law school in the context of our student journals. We had policies specifically prohibiting self-plagiarism by students wishing to be published in the journal. Self-plagiarism can be anything from submitting an article for publication that was previously written for a class during college or failing to cite authority, even if that authority is yourself.

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  • Just rec'd a bankruptcy advertisement saying it can eliminate my home equity line of credit for $1k. Is this lawyer talking ch.7

    It's a law firm. I was under the impression that you can't eliminate a home equity line in a chapter 7 unless you are walking away from the house. Is that accurate? At least that is what a different bk lawyer told me. Are they talking about cha...

    Hamid’s Answer

    Although you cannot lien strip in a Chapter 7, some lawyers are advertising in a way that makes it appear like they will eliminate the HELOC via Chapter 7. What they usually are doing is two things. They are putting you into a Chapter 7 to discharge your debts, including your personal liability on the HELOC. Then they are negotiating outside of Bankruptcy court with the HELOC for a lien release. This is essentially a type of debt settlement and would require a cash payment to the HELOC for their lien release (assuming they agree).I have seen HELOCs settle with my clients for a lien release at 10 cents on the dollar. You are, however, correct that lien stripping is not possible in Chapter 7.

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  • A judgement was entered for a credit card debt.

    I want to know if I will be notified if they garnish my wages before they garnish them? I will not be able to feed my children If they garnish, Is there anything I can do about that? Can I work something out with the attorney now? Can I file some...

    Hamid’s Answer

    When the creditor begins the garnishment process they will first serve a Writ of Garnishment on your employer along with some other required documents, including an Answer of Garnishee. You will receive a copy of the Write of Garnishment and the other paperwork right around the same time. At that point there is little, if anything, you can do to stop the garnishment from taking effect. In Arizona, however, creditors may only garnish the lesser of 25% of your non-exempt disposable earnings or the amount of weekly earnings that exceed thirty times the hourly minimum wage. Thus, you will generally retain 75% of your earnings.

    If the garnishment is going to prevent you from paying necessary expenses you may consider filing for bankruptcy protection.

    Hamid Jabbar

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  • How should we Hold Title to a new 2nd home/vacation home in the U.S.. We live in Canada and are Canadians. We winter in Arizona

    My husband would like me to have the home if he should die before I do. I would like to leave my half interest in the home to my children if I should die before my husband. I am sure the the tax implications vary depending on how we hold title a...

    Hamid’s Answer

    This is somewhat of a complicated question because there are several ways you can proceed. Instead of telling all the ways to proceed, I will tell you one common way not to proceed. Because you want your children to inherit your half interest in the house upon your death, you do not want to title the house as "Joint Tenants With Right of Survivorship." Titling it that way, which is common, means that upon death the surviving joint tenant takes over as the 100% owner. As an alternative, you might consider titling it as "Tenants in Common" and then having proper wills drafted to take care of your respective wishes as to your 50% interests. There are other ways you could also do this, such as taking title in the name of a company or a trust with very specific instructions. What works best for your situation depends heavily on your finances and desired level of control. You should consult with an attorney who can advise you properly.

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  • Is this illegal

    I just paid a $1400 deposit and signed the rental agreement. landlord cashed my MO same day and then called next day and told me he rented the house to someone else after he had given me the keys and garage door opener. do I have any recourse??

    Hamid’s Answer

    It depends on the terms of the agreement you signed and other circumstances surrounding the landlord's decision not to deliver possession, but you may have a case. Based on the limited facts you provide, it sounds like you entered into a contract and the landlord breached by failing to deliver possession. You should consult with an attorney who can review your agreement and offer you a formal legal opinion.

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