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Steven Abraham Wolvek

Steven Wolvek’s Answers

5 total

  • Can I file chapter 7 after a credit card lawsuit is served to me?

    I just received a lawsuit notification from the credit card company. Can I file chapter 7 and include the default account as part of my bankruptcy though it was served to me before I file bankruptcy?

    Steven’s Answer

    Yes you can. Just do not let the lawsuit go all the way to a judgment where the creditor then files an abstract. An abstract is a floating lien and is recorded in the county you live in. It attaches to any property recorded in your name or that may be recorded in your name 10 years from the date of its filing. There is an extra fee to eliminate abstracts charged by most offices.

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  • Settlements....

    Can you settle for less with a creditor if you already started bankruptcy proceedings?

    Steven’s Answer

    If you filed a Chapter 7 case - why would you want to settle when all unsecured debts can be discharged? If you are in a Chapter 13 case - whether or not to pull out and settle outside of bankruptcy would require a review of your proposed plan.

    Most creditors are eager to settle after a case is filed because they will not receive as much usually through a bankruptcy - if anything. Your credit report will already show your bankruptcy filing.

    If you hired an attorney to represent you then you should discuss the specifics of your case with him or her. If you filed in pro se, you can always contact an attorney and have your situation reviewed as most will offer a free consultation.

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  • Filing for bankcruptcy & buying a house

    I have bills which I am unable to make payments on (medical bills) and they will be going to collection in the next few weeks. I have been advised not to file for bankcruptcy yet, but to wait at least an year. I have been looking into buying a ho...

    Steven’s Answer

    • Selected as best answer

    Your question is a perfect reason to consult with an experienced bankruptcy attorney. Pre-bankruptcy planning is so important and in your case absolutely necessary. You should also talk to a mortgage broker or bank to see if you can pre-qualify for a mortgage loan today.

    Most attorneys will offer you a free consultation to answer the bankruptcy issues raised in your question. Whether or not you qualify today for a mortgage loan would help assist an attorney in determining when is a good time to file.

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  • How long to wait before filing for bankcruptcy?

    I have a medical debt which I am not able to pay. The creditors have said that if this is not paid within the next 10 days it will be sent to collection. I have some savings ($35,000) but it is not enough to pay the debt & I know that if I make a...

    Steven’s Answer

    You need to contact an attorney and make sure all your assets can be protected. Most offices will offer a free consultation and make that determination when you come in for your appointment. Another important consideration is whether or not your medical situation is now resolved.

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  • What do I need to include when I serve a creditor the Chapter 13 Plan?

    I am filing Pro Per, and at the stage where I have finished my Chapter 13 Plan. How do I serve it? Can I mail it? Fax it? Does it need to include everything I sent to the court? One copy to every creditor? Do I need a cover sheet?

    Steven’s Answer

    Chapter 13 cases are complicated and very few move forward in pro per. Many times in Court judges will tell pro pers to get legal representation. I would urge you to do the same.

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