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Robert Ray Teague
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Robert Teague’s Answers

6 total

  • What are the consequences/implications if a chapter 7 bk is closed without discharge?

    I filed chapter 7 in 2010. It reports on my credit as if it was fully discharged, and all old creditors show charge off/bk. all of the the debts are 2010 or earlier. Mortgage companies review my credit report and see the bk and cancellation und...

    Robert’s Answer

    Yes, your credit scores would be more likely to improve if you were to file a motion to reopen your Chapter 7 case, take the Financial Management Course (the second part of the credit counseling requirement), and get your debts discharged. Receiving a discharge of the debt showing on your credit will improve your debt to income ratio. As your credit report stands right now it most likely indicates next to each creditor entry a negative credit annotation such as: charged off, collections, etc.... It would be better to have the discharge and the notation: "Discharged in Bankruptcy".

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  • Can I be forced to pay a replacement vehicle inside the plan when the previous vehicle was paid outside of my banruptcy plan?

    I am two years into my chapter 13 bankruptcy. I totaled my car, which was paid outside of the plan. I had to file a stipulation to the trustee to replace the vehicle. Can I be forced to pay the new vehicle inside the plan? I did not have any l...

    Robert’s Answer

    In Arizona it will depend on whether the trustee objects to paying the vehicle loan outside of the plan. The trustees in our district may in fact require post-petition debt be paid through the plan.

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  • Amending Schedule F, chapter 7.

    A creditor listed was the wrong creditor. The correct creditor is one already listed for a different account. Who gets this amendment besides the Trustee, court and the affected creditor? Do I need to send it to every creditor on Schedule F and al...

    Robert’s Answer

    • Selected as best answer

    The most conservative approach would be to file an amendment to Schedule F correctly listing the creditor and associating the creditor with the correct account number. However, what is really important as far as notice to creditors is that the creditor is scheduled. If the creditor (even if you put the wrong account number or have multiple accounts with the same creditor) is lised at least once on Schedule F, the Bankruptcy Court will provide the creditor with notice that you filed bankruptcy. Your eventual bankruptcy Discharge is a discharge of your personal liability, not a discharge of an amount of debt or a certain number of creditor accounts. Thus. LISTING or SCHEDULING, the creditors on Schedule F at least once is the most important factor.

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  • I filed chapter 7, 2 years ago and need to surrender my car. I can not afford the payments anymore.

    I was denied my reaffirmation by the judge for my car loan. I know I can surrender and they can't come after me for payment, but my question is there is a loud noise coming from the engine, when I surrender it will they come after me to pay to h...

    Robert’s Answer

    Your finance company cannot force you to pay for repairs needed to the vehicle after you have surrendered the vehicle to them. You have no financial obligation or other obligation to the auto finance company. Your personal liability was discharged in bankruptcy. The finance company will be solely responsible to recondition and repair the vehicle in order to get it ready for resale. You have no obligation either before or after surrendering the car to have it in perfect operating condition. Simply surrender the car and you should never hear from the lender again.

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  • Can HOA where I live forbid me from using common areas while I am under Ch 7 under threat of filing a trespassing police report?

    I am currently under Ch 7. I started making FULL HOA payments as of the date of filing. The management has notified me that until I am paid in full or paying under a "board approved" payment plan I cannot use the common areas.

    Robert’s Answer

    As long as you are current with post bankruptcy petition HOA payments you should be considered by your HOA to be current with that obligation and have no restrictions or services limited by virtue of the fact that you are in bankruptcy.

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  • What assets are included in a bankruptcy if I file separate from my wife?

    Assets and belonging in the home primarily belong to the wife. I own very little.

    Robert’s Answer

    The assets included in an individual's bankruptcy estate if one is married, but filing an individual petition depends upon several factors.
    If you reside in a community property state (such as California, Arizona, Washington, Alaska, Idaho, Louisiana, New Mexico, Texas, Wisconsin) and the property was acquired during your marriage the property is a community asset and should be scheduled on your petition. If your wife lives in a non-community property state or acquired separate property prior to the marriage (inheritance, etc...), this may be sole and separate property and need not be scheduled on your individual petition.

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