Michael Salanick’s Answers

Absolutely correct answer above: to be successful, chapter 11s (and any more complex chapter 7/13) necessitate the hiring of an experienced bankruptcy lawyer. What were you attempting to do by filing chapter 11 - "save" a business? "save" real property/homes? retain assets? etc.? Bottom line: seek qualified legal help, especially now. Based on the facts you have stated, this case will not be of the cheap/inexpensive variety, but continuing to handle - or attempt to handle - on your...

Not necessarily true that this is a "new lawsuit after the fact". Facts and events that gave rise to the lawsuit may have occurred before the bankruptcy filing which could result in this being considered a pre-petition claim. You may be talking about a "quiet title" action, in which case you could file an adversary proceeding in bankruptcy court or handle in state court (if state court, and you want to pursue during the bankruptcy case, then you'd need a motion for relief from stay...

If you currently have regular income (from employment/contributions/etc) and you are able to afford payments on at least your 1st mortgage plus payments on past due balance, spread out over 36-60 months, then a Chapter 13 bankruptcy may be an option. A Chapter 13 case, once the plan is confirmed, essentially forces lenders & servicers to play fair. Even though a Chapter 13 case does not currently (*this may change with new legislation) allow a debtor to modify the terms of the loan/...

Means test: avg past 6 months for BOTH H & W (doesn't matter if newly married) - can also use wife's debt, etc., as an expense, if needed Budget: list income for BOTH H & W, and expenses for BOTH Must list all of community's debt debt obligations, which includes wife's car, etc. Now that you're married in California, be very careful when thinking "has nothing to do with me". California is a Community Property state, and Community Property laws are not intuitive and not based on common...

Promissory note "income" is slightly odd... if you mean you are borrowing money to live off of, then that would be debt and should be included in your case. If your family is making voluntary contributions to help you during this time, that should not be intercepted by the trustee, and you should be permitted a way to provide for your basic needs. Does your attorney have much experience handling bankruptcy cases? Do you believe that your attorney actually has tried to contact the trustee'...

Filing a Chapter 7 to "save a home" is risky. Once you're behind on payments to your lender(s), filing a Chapter 7 case does not provide any way to cure the arrears owed. In fact, filing a Chapter 7 when you're behind on payments to your lender may cause the lender to Motion for Relief from Stay, in order to secure value in the home. A Chapter 13 case give you an opportunity to cure the arrears, but you will be required to have income to pay at least the 1st mortgage payments PLUS a plan...

Attorney Bunce is correct - no way to predict time frame before the lender (1) repossesses your car, and (2) if/how long before lender pursues filing a complaint for any outstanding loan balance on the car. That said, a lender may be wiling to accept a settlement or (if you have strong defense related to purchasing a "lemon") possibly releasing you from further liability if you allow the lender to recover the vehicle. Protect yourself and get the terms of any such settlement agreement in...

Generally speaking, "no" you will not have to respond if you will be filing bankruptcy. If you do not own any real property, then even if a judgment is entered you will likely still have time to file bankruptcy and have the underlying debt discharged and the judgment wiped out. Use caution here, however, since an agessivr judgment creditor may attempt to pursue other collection efforts once an order on judgment issues. Finally, if filing your bankruptcy while the lawsuit is still...

In the Central District of California Bankruptcy Court (Los Angeles Division) it is customary to DENY fee waiver request when a lawyer is hired before filing the case. Still, IF (...if...) you qualify for a fee waiver when filing your case, after your case is filed and fee-waiver granted, it may be possible for you to hire low- to no-cost legal help or lawyer/law firm. You may want to talk consult with an attorney before deciding how to proceed. Best wishes! Michael Salanick,...

Yes. Please note: your lease agreement and any outstanding balances owed under the terms of the lease should be included in your bankruptcy filing, schedules and forms, including executory contracts, etc. I would advise you to seek competent legal representation to be sure your case is prepared properly and legal representation given throughout the duration of your case. Best of luck Michael Salanick, Esq. www.salanicklaw.com