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Robert Kevin Lee

Robert Lee’s Answers

15 total


  • I've been summons to go to court for an AMEX past due credit card debt in California. Can I negotiate a settlement?

    What should I do to negotiate a debt settlement for my credit card debt from AMEX in California? I would like to negotiate this debt settlement down to less than $5K and have been told this would be considered reasonable in California. I d...

    Robert’s Answer

    If you've received a summons and complaint regarding your credit card debt, then the 5 months is probably in reference to some sort of a status conference.

    However, you still need to respond to the debt complaint in 30 days otherwise you may get a default judgment entered against you. The longer you wait the harder it may be to get a deal from them or debt settlement.

    You have to contact the credit card’s attorney because AMEX will only refer you to them. No need to discuss with the judge because the judge can't force AMEX's attorney to take a deal. You have to talk to the attorney that sued you and try to work out a deal with them, but don't forget to file a response first.

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  • I want to keep my house until it can be sold and pay off the loans. What chapter of bankruptcy should I file?

    I own a house that has a market value of about $10,000,000. As such it is difficult to sell. I have a first of about 2 million and a 2nd of about 1.2 million. I am now unable to make payments on the loans and I do not want the property to be sold...

    Robert’s Answer

    In a Chapter 7, you may be faced with a motion for relief from stay from the creditor which allows them to foreclose during the case and certainly a foreclosure after the bankruptcy is over.
    In a Chapter 11, you can buy some time in order to sell. However, a Chapter 11 costs more in legal fees. A typical Chapter 7 might cost $2,000 whereas a Chapter 11 starts at around $10,000 to $20,000.

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  • I have over $125k in past due debt.

    I have been behind on my bills since Dec. 2009. My debts total well over $135k and I don't currently have an income. Also, I owe $5k in taxes on a small amount of income for last year and have no money to pay for that either. Can I bankrupt my tax...

    Robert’s Answer

    If you have no income, then it is pointless to do credit counseling or debt consolidation. Those options require that you pay something on a monthly basis. However, if you choose to go that route, be wary of companies and read the fine print. Many times, you pay a monthly amount that only gets applied to the service fees/attorney fees and then they start to pay down or settle your debts.

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  • I have 43k in credit card debit, owes $550k in mortgage, no second, but took money out to refin for that loan. loan was 1% optio

    arm. income greatly reduced, 1 income being unemployment. we cannot pay mortgage at current amount unless i get loan mod. got denied 3 times for loan mod (18mos behind because of appeals) because servicer is not joining the govt mha programs and t...

    Robert’s Answer

    You cannot file a Chapter 13 until 4 years have passed from your Chapter 7 Discharge. If you are thinking of filing a Chapter 13, you might be better off converting to a Chapter 13 now before you obtain your Chapter 7 discharge. Of course, this really depends on a myriad of decisions and factors. You cannot restructure your loan in a Chapter 13 (unless the lender agrees). So you are pretty much back to where you were before. All that a Chapter 13 does is allow you 3-5 years to make up past due mortgage payments. You have to pay that and still pay what you normally would pay on your current mortgage.

    You might want to think about a short sale on your home, because it seems like you really can't afford to keep this home. Most attorneys will not tell you this because it means no potential for legal fees. If you decide to go with the short sale round, you will need a very experienced agent/attorney who knows how to work with banks to obtain their approval. Hope this helps.

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  • A settlement done through a collection and payment failed due to collection team adding fees to the settlement amount.

    A settlement done through a collection and payment failed due to collection team adding fees to the settlement amount without my knowledge. Now deal is off and the bank is coming back for more after paying what the settlement calls for. What do I ...

    Robert’s Answer

    Regardless of fault, the bank can come after you if you breached the terms of the agreement. If a debt consolidation company did this for you, then you should make sure they did their job.

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  • Will I need a lawyer to defend against a car collection agency?

    In 2004 I defaulted on a car loan ($9,500) when I moved to Mexico from California. The car was always parked in California. When I contacted the finance company to try to work things out they informed me that the matter had gone to an agency. When...

    Robert’s Answer

    Yes. They usually sell the car at an auction for a low price and the deficiency is what you owe.

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  • Is it true that banks are more willing to modify mortgage loans during a bankruptcy filing?

    or during the confirmation process of a bankruptcy?

    Robert’s Answer

    I don't think it affects loan modification much. In fact, it takes time for the case file to be transferred from the loan modification department to the bankruptcy department.

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  • I am being sued by a dept collection firm. Should I act or let them simply proceed although I will lose and face judgments.

    I am unemployed since 2008 due to medical conditions unable to pursue regular work. In the mean time, credit is already ruined and I posses except for a few personal items no other valuables. I am enrolled with the Food Stamp program and the telep...

    Robert’s Answer

    Yes. Unless you can file a claim of exemption.

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  • Chapter 7 Bankruptcy Creditors Meeting. How to request a new date, continue, or delay date.

    I am filing pro-se can not afford a lawyer. How do I officially request a new date from the court? Any forms or links are greatly appreciated.

    Robert’s Answer

    Your court date is automatically continued for one month if you do not show up the first time. There is really no way to ask for a particular court date. If you miss 2 court dates, the trustee will generally file a motion to dismiss, unless you persuade him otherwise.

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  • Sheriff holding garnished wages needed to pay rent and child support

    I received notice of a garnishment on a Thursday before a three day weekend with the garnishment to begin on the next Tuesday. The order was signed by the judge 16 days previously. Anyway, I wasn't able to get a Chapter 13 filing in before the g...

    Robert’s Answer

    The sheriff will need a release from the creditor. Once you file Chapter 13, your lawyer should tell the creditor to send a notice of release to the sheriff's office. You have to be diligent about this and follow up with numerous phone calls because they do not go out of their way to help you.

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