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Nicholas Michal Wajda
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Nicholas Wajda’s Answers

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  • I was told that I can keep my home and my car in a Chapter 7. Can the lender foreclose on me anyway?

    My original questions was two day ago.

    Nicholas’s Answer

    • Selected as best answer

    You can keep your home and car in a Chapter 7 bankruptcy as long as the equity in each falls within the exemption limits for your state. In Nevada the limit is $550,000 for your residence and $15,000 for a vehicle. However, this does not mean that they bank cannot foreclose on you if you are not paying your mortgage. If you do not pay the mortgage, the bank will eventually foreclose. You are protected for a period of time due to the automatic stay of the bankruptcy filing but this stay is not indefinite.

    The stay will expire upon the closing of your bankruptcy case or upon the lender being granted relief from the automatic stay. Upon either of these events, the lender can then proceed from whatever point they left off with the foreclosure process.

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  • I cannot pay all of bills I receive. I've never missed mortgage payment,however, some of credit cards are unpaid for 6 months.

    Now a collector is after me. Can I file bankruptcy ? I cannot cash out, because my credit is not good and my income is not enough to qualified.

    Nicholas’s Answer

    As the other answers have stated, more information would be needed to determine if bankruptcy is an option for you, if it is your best option, and what Chapter you would want to file. Since you stated in the question that you cannot "cash out" I assume that you have some equity in your home. That would be a starting point (along with your income and monthly expenses) in the determination.

    You should definitely take the time to speak with a licensed bankruptcy attorney in your area to get some more information.

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  • Hi, I am unemployed, but my wife has a very good job. Can I file for Chapter 13 bankruptcy in California without her?

    If so, will the court impute her income to me? And does that mean that a portion of her paycheck will have to be used to pay my creditors?

    Nicholas’s Answer

    You can file a Chapter 13 bankruptcy without your wife. However, if you are still legally married your wife's income will be considered part of your overall household income. Thus, her income will be used to calculate your disposable monthly income and therefore how much of the overall debt you would have to repay during the Chapter 13 plan. Her income will also likely affect the length of the Chapter 13 plan by lengthening it from three to five years.

    On the flip side of this, your wife's income can also be offset dollar for dollar by any expenses that are solely her own such as her student loans or her own debt (sometimes this must have been acquired completely separate from you and/or the marriage).

    A Chapter 13 is a complicated process and thus you really should speak to a licensed attorney about your overall situation. Most will offer a free consultation where you can at least get some guidance on what the process will be like for you.

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  • Being a disabled veteran having most of my debts occurred during active duty and being 60% disabled am I able to chap 7 automati

    I think we make to much but I have read that disabled veterans are exempt from the means test and so they automatically qualify for chapter 7 bankruptcy. I live in las Vegas and we are behind 15 months on our mortgage since the banks won't let us ...

    Nicholas’s Answer

    The general rule that you are referring to is that if you are at least 30% disabled as a result of service or if you were released/discharged due to disability AND your debt was primarily incurred during a period of active duty or homeland defense activity then you are exempt from completing Form 22A (the Means Test).

    This however does not always mean that you automatically qualify for Chapter 7 or that you should file for Chapter 7 as there are other factors to consider.

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  • Chapter 13, Repossessed Vehicle and Student Loans in Deferment

    Hello, my vehicle was recently repossessed (not sold at auction yet). I'm considering filing Chapter 13. Is there any circumstance in which filing chapter 13 may not get my car back? How will filing chapter 13 affect my student loans which are c...

    Nicholas’s Answer

    In California you can get the vehicle back by filing a chapter 13 and thereby reorganizing the arrears on the vehicle payment. The situation where you would not be able to do this is where you cannot convince the court that the chapter 13 plan you are proposing is feasible. This would be due to a lack of sufficient income.

    Your student loans will be paid at the same rate as your other unsecured creditors in the chapter 13 plan. This will not take the loans out of deferment nor will it stop any accruing interest however.

    Yes, you can file based on a future job. You would just need to explain this future source of income and make an estimation of what you will be making at the new job. The trustee and/or judge will eventually, most likely, require proof of your actual income once this job starts before your plan will be confirmed.

    Your credit is basically destroyed by filing the bankruptcy. However, since your credit is already "terrible" this is of no consequence to you. Your credit will build slightly during your time in the chapter 13 bankruptcy (3-5 years) but nothing very significant. You also are not permitted to take on new debt (like a house) while in the chapter 13 plan unless you obtain court permission. However, once you are out of the plan, you can build your credit quickly. Eventually you will be able to buy a house. Typically by the time you are in a financial position where buying a house would be advisable, your credit will not longer be an issue.

    The last question depends on way too many factors to answer here. You should speak to a licensed bankruptcy attorney to assist you in making that determination.

    Nicholas Wajda is a California licensed attorney at Price Law Group, APC. He can be reached directly at 1-800-884-6000 ext. 1284. This response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response is based on the limited facts provided. Given additional or different facts, the response would change. Attorney is licensed to practice law in the State of California. Responses are based solely on California law unless stated otherwise.

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  • I am being sued for co-signing for a car. The document stated they can garnish my wages. How can I stop this from happening.

    I co-signed for a car for a family member. They were not keeping the payments up on the car and even tried to leave town with the car. I called the dealership and told them to go and get the car. I could not afford to pay the car payments. Now I a...

    Nicholas’s Answer

    You have a couple of option on how to possibly avoid the garnishment. First, you can talk to a lawyer about filing a bankruptcy. This could potentially eliminate this debt for good as far as you are concerned. A second option would be to appeal to the judge at the time the creditor attempts to place a wage garnishment on you. If you can prove that a garnishment would cause you extreme financial detriment (meaning you would not be able to pay rent and eat), a judge can reduce or deny a garnishment request. However, even if this does work, it is only a temporary solution.

    Nicholas Wajda is a licensed Nevada attorney at Price Law Group, APC admitted in the District of Nevada. This response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response is based on the limited facts provided. Given additional or different facts, the response would change. Attorney is licensed to practice law in the State of Nevada. Responses are based solely on Nevada law unless stated otherwise.

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  • Can we file a Chapter 7 in San Diego County if we live in Riverside County

    My Husband works in San Diego and our Son has an apartment we pay for in San Diego in our names.

    Nicholas’s Answer

    You are required to file in the County in which you have resided for the 91 days prior to filing your case. The only way to file in San Diego would be if you were actually living at your son's apartment and had been living there for at least the 91 day period.

    One thing to note, the documents required by the trustee are much more detailed in San Diego county as compared to Riverside so it would likely be less work for you, or your attorney, if you did file in Riverside - where you legally are supposed to file.

    Nicholas Wajda is an attorney at Price Law Group, APC. He can be reached at 1-800-884-6000 ext. 1284. This response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response is based on the limited facts provided. Given additional or different facts, the response would change. Attorney is licensed to practice law in the State of California. Responses are based solely on California law unless stated otherwise.

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  • After filing Chapter 7, one of my creditors raised my rate and payment amount, more than doubling the payment. Is that legal?

    After filing chapter 7, I received a letter from my student loan telling me that because I made a late payment, they are raising my interest rate, which more than doubles my payment. Is that legal? Will it be addressed in court?

    Nicholas’s Answer

    The sudden raise in your interest rate on the student loan is likely due to a clause in the original loan contract. A lot of student loans will give borrowers better rates as long as they remain current on the loan and/or raise rates if someone misses a payment. The bankruptcy trustee (the person you meet with at your "hearing" as you likely will never go to court in a chapter 7) will not address this issue nor will he/she do anything about it.

    The best thing for you to do is just call your lender for the student loan and try to convince them to change the interest rate back to what it was. They may not but it is worth a shot and if you explain your situation and show how "loyal" you have been in the past, it just may work.

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  • Will i have to serve jail time

    a lawyer or attorney who is suing me is telling me the court date is tomorrow and i had no notice of this until today he said i cant make payment arrangements but asked how much i could pay today and i said 50 and he said you will be in jail tomor...

    Nicholas’s Answer

    You have nothing to worry about as far as going to jail as that will not happen. The person who called you is (most likely) not an attorney, rather just a debt collector trying to scare you into paying. However, you still likely need to be concerned with this debt as they will continue to try and collect from you. Eventually you will have to deal with this debt in some fashion.

    If you have other debt that you are not able to pay as well, or if you simpy will never be able to even pay off this debt, you should probably speak to a California licensed bankruptcy attorney for some guidance. Many bankruptcy attorneys, such as myself, offer free consultations.

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  • What happens to my 20% mortgage if I file bankruptcy?

    My house is upside down. I have a 80% 20% loan. my primary lender has declined a modification. I'm running out of choices. I still have my job and can make my mortgage. However I have fallen behind now .My lender put me on a trial payment plan.. N...

    Nicholas’s Answer

    A lot more detail is needed about your situation to fully answer your question. One such detail is whether your home is upside down when compared to just your first mortgage (the 80% mortgage). If it is, you may be able to benefit from a chapter 13 bankruptcy in which you could get caught up on your first mortgage and potentially strip off and permanently remove the 2nd mortgage.

    If your home is not worth less than you owe on the 1st mortgage, you could still potentially benefit from a chapter 13 bankruptcy as it could help you pay off what you are now behind on the mortgages without interest.

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