Section 523(a)(6) of the bankruptcy code makes debts nondischargeable if they arise from "willful and malicious injury by the debtor to another entity or to the property of another entity." However, Section 523(c) of the bankruptcy code specifies that such debts will be discharged unless the creditor files a timely complaint within the bankruptcy case in order to prove that the alleged injury arose from the willful and malicious conduct of the debtor. It can cost tens of thousands of dollars...
Ultimately, the judgment creditor can levy any of your assets which are not exempt from collection.
If your business is a sole propietorship or partnership and the account is under your social security number, then the creditor can likely levy the account fairly easily. If it is a corporate or LLC account then the creditor would most likely need a charging order before they could collect the assets in the account but they could eventually reach the corporate or LLC assets.
The judgment might be enforceable against the assets of the trust (not enough information given). Also, it is not clear if the judgment debtor might have other assets available to satisfy all, or a portion, of the judgment. Judgment debtors often threaten bankruptcy, but may not actually file if they have nonexempt assets. Trustee will probably try to negotiate a deal with the judgment debtor.
Probably not a good idea to file Chapter 7 right now, unless (1) you can claim the full...
I'm not sure I understand the basis for the quiet title action, or how this would help you to avoid foreclosure. Have you spoken with an attorney about these matters? If you are trying to avoid foreclosure, Chapter 13 is often a viable option if you can afford to make the regularly scheduled mortgage payments and catch up on the mortgage arrears within five years. If you can't afford the mortgage payments, then you may not have any good options for avoiding foreclosure.
If you have not filed a bankruptcy and the lender did not waive its right to pursue a lawsuit against you, then it is quite possible that you could be sued on this debt. You should check with an attorney in Michigan regarding the applicable statute of limitations. You may need to contact the creditor to see if the debt can be settled so that you can avoid a lawsuit and to avoid continuous marks on your credit report.
Reaffirmation not required in Chapter 13 in Central District of California. You need to decide whether to pay the car payments directly or through the plan. You also have the option to surrender the car if you don't want it.
I agree with the other answers, with one qualification. You should not take out a loan secured by your property (such as a home equity line of credit or auto title loan) until your case is closed. Technically, your assets are part of your "bankruptcy estate" until your case has been fully administered, so taking out a loan secured by your assets should not be done without a court order.
You are probably fully protected by California Code of Civil Procedure 580b, which prohibits deficiency judgments on "purchase money" loans (ie: loans used to fund the purchase of a property).
I don't know of any cases in California specifically on point regarding HELOC loans, but generally lenders who advance funds for acquisition of 1-4 unit residential buildings can not sue for deficiency judgments.
I practice in the Central District of California. The means test deduction is allowable. It can be added to the "vehicle operating expense" on the means test. A 2006 vehicle would qualify. But you really should have an experienced bankruptcy attorney look over your means test if you are above the median income for your household size ( or close to it). The means test contains many traps for the unwary.