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Jeffrey Daniel Larkin
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Jeffrey Larkin’s Answers

918 total


  • We no longer want to keep our car. It was never reaffirmed and the loan is closed through bankruptcy. What should we do?

    We have filed BK and everything was discharged (as of March 2011), including our Saab Car loan. We never reaffirmed the loan with Bank of America for the Saab. I pulled our credit report and the loan is closed out due to BK. However, we have con...

    Jeffrey’s Answer

    I agree with the other responses that you can stop making payments on the vehicle and you will not be liable for any deficiency balance upon repossession and sale.

    Mr. Larkin is a San Diego Bankruptcy Attorney and is licensed in California. His response here does not constitute legal advice and does not create an attorney/ client relationship. The response is in the form of legal education and is intended to provide general information about the matter in question. Many times the questioner may leave out details which would make the reply unsuitable. Mr. Larkin strongly advises the questioner to confer with an attorney in their own state to acquire more information about the specifics of their case.

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  • I'm the person who bk'd 4 props (3 investments with a second on them). Thanks for the info on the taxability on debt bankrupted.

    Now, a realtor wants to short sell these props before they foreclose. If I go that route, I must turn in present financial statements to the bank. Will this now cause the IRS to come after me for the debt forgiven in the short sale because this is...

    Jeffrey’s Answer

    • Selected as best answer

    Your bankruptcy discharge will protect you from any potential tax liability if you decide to short sell it post discharge. The underlying debt has been discharged (assuming you did not reaffirm the mortgage) so there is no deficiency balance, tax liability or otherwise that kicks in. Short selling post BK is a good way to buy yourself additional time in the home without paying the mortgage but otherwise is not necessary.

    Mr. Larkin is a San Diego Bankruptcy Attorney and is licensed in California. His response here does not constitute legal advice and does not create an attorney/ client relationship. The response is in the form of legal education and is intended to provide general information about the matter in question. Many times the questioner may leave out details which would make the reply unsuitable. Mr. Larkin strongly advises the questioner to confer with an attorney in their own state to acquire more information about the specifics of their case.

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  • Does paying for my kids college tuition count as education required for employment under bankruptcy?

    Doing some research. Thinking about filing, not sure if I can count what I pay for the kids college expenses to qualify.

    Jeffrey’s Answer

    I agree with Ms. Bunce's answer. Absent a court order, this will not be an allowable deduction on the means test, however, in San Diego, trustees will allow you a reasonable college expense on schedule "J" to help offset your income. In most cases, getting past the means test is not a problem so the fact that you may not be able to use the education expenses on the means test does not mean you will not qualify for bankruptcy. I offer free consultations if you are interested in going over your financial options.

    Mr. Larkin is a San Diego Bankruptcy Attorney and is licensed in California. His response here does not constitute legal advice and does not create an attorney/ client relationship. The response is in the form of legal education and is intended to provide general information about the matter in question. Many times the questioner may leave out details which would make the reply unsuitable. Mr. Larkin strongly advises the questioner to confer with an attorney in their own state to acquire more information about the specifics of their case.

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  • Investment property in foreclosure, what happens to the HELOC after one of the co-signers files bankruptcy?

    My husband co-signed on a Wells Fargo HELOC with his brother on his brother's investment property. The HELOC was used to fund additional real estste investment opportunities that all went south. No payments have been made on the HELOC for over ...

    Jeffrey’s Answer

    Your brother in-laws bankruptcy filing does not prevent the lender from coming after your husband if he cosigned on the loan. The fact that the account has been charged off does not mean that the debt is no longer owed, rather it simly means th lender has charged it off as a bad debt. They typically sell those accounts to debt collectors who then harass you for payment. Absent your husbands own bankruptcy filing or some other resolution with the creditor, he will remain personally liablefor this debt.

    Mr. Larkin is a San Diego Bankruptcy Attorney and is licensed in California. His response here does not constitute legal advice and does not create an attorney/ client relationship. The response is in the form of legal education and is intended to provide general information about the matter in question. Many times the questioner may leave out details which would make the reply unsuitable. Mr. Larkin strongly advises the questioner to confer with an attorney in their own state to acquire more information about the specifics of their case.

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  • If we file bankruptcy on medical bills can the doctor or hospital choose not to treat son anymore?

    my son has a life long condition that only a few doctors in the area can treat. we can not pay his past bills . but we need to still get care from both the hospital and the specialist

    Jeffrey’s Answer

    Hospitals cannot refuse service for emergency conditions but the specialist can refuse service for non-emergency situations.

    Mr. Larkin is a San Diego Bankruptcy Attorney and is licensed in California. His response here does not constitute legal advice and does not create an attorney/ client relationship. The response is in the form of legal education and is intended to provide general information about the matter in question. Many times the questioner may leave out details which would make the reply unsuitable. Mr. Larkin strongly advises the questioner to confer with an attorney in their own state to acquire more information about the specifics of their case.

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  • I cosigned on an auto debt for my brother in law. The car was reposessed for failure to make payments.

    The car was sold at auction for less than the principal balance. Now, the bank wants me to pay the difference. On a Chapter 7 bankruptcy, is the amount that the bank wants from me still considered a secured debt?

    Jeffrey’s Answer

    The amount of the debt is considered an unsecured debt at this point and can be eliminated in a chapter 7 bankruptcy.

    Mr. Larkin is a San Diego Bankruptcy Attorney and is licensed in California. His response here does not constitute legal advice and does not create an attorney/ client relationship. The response is in the form of legal education and is intended to provide general information about the matter in question. Many times the questioner may leave out details which would make the reply unsuitable. Mr. Larkin strongly advises the questioner to confer with an attorney in their own state to acquire more information about the specifics of their case.

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  • Can HOA deduct a "post bankruptcy legal fee" from a refund of overpaid dues on foreclosed condo?

    I filed for chapter 7 the first week of 8.10 and it was discharged in early november. I paid the hoa dues on time and in full for august through november so I wouldn't incur debt post-bk. The bank sold the condo at a trustee sale 9.28.10. I was t...

    Jeffrey’s Answer

    I handle these types of issues and take them on contingency if the facts are good. If you would like to speak in more detail about your situation please contact my office.

    Mr. Larkin is a San Diego Bankruptcy Attorney and is licensed in California. His response here does not constitute legal advice and does not create an attorney/ client relationship. The response is in the form of legal education and is intended to provide general information about the matter in question. Many times the questioner may leave out details which would make the reply unsuitable. Mr. Larkin strongly advises the questioner to confer with an attorney in their own state to acquire more information about the specifics of their case.

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  • Does bankruptcy cover my car and the other persons car bills if I did not have insurance and it was my fault?

    I did not have insurance and I got into a car accident and it was my fault. I still owe around 16000 dollars on my car and I have to pay the other person about 13000 dollars. Does bankruptcy cover that?

    Jeffrey’s Answer

    Yes, absent driving under the influence these debts would be discharged in your bankruptcy case.

    Mr. Larkin is a San Diego Bankruptcy Attorney and is licensed in California. His response here does not constitute legal advice and does not create an attorney/ client relationship. The response is in the form of legal education and is intended to provide general information about the matter in question. Many times the questioner may leave out details which would make the reply unsuitable. Mr. Larkin strongly advises the questioner to confer with an attorney in their own state to acquire more information about the specifics of their case.

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  • I have a joint loan with my ex husband, can I claim bankruptcy without him?

    I can no longer pay for the car or the regular maintenance to up keep the car . I have tried to do a hardship re finance, and was declined. My ex-husband states that he cannot file bankruptcy due to his military clearance.

    Jeffrey’s Answer

    • Selected as best answer

    I agree that you can file without your ex husband but I disagree with the post that indicates you must use his income on the means test. If you are separated or your divorce is final, you do not need to list his income, only the income he provides you (ie. alimiony/child support)

    Mr. Larkin is a San Diego Bankruptcy Attorney and is licensed in California. His response here does not constitute legal advice and does not create an attorney/ client relationship. The response is in the form of legal education and is intended to provide general information about the matter in question. Many times the questioner may leave out details which would make the reply unsuitable. Mr. Larkin strongly advises the questioner to confer with an attorney in their own state to acquire more information about the specifics of their case.

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  • Considering filing bankruptcy on a joint bank account, do we both have to file?

    My husband and I were recently victims of a scam and now we owe about $7000 to the bank. We can't afford to pay it back. We had a joint account and so do we both have to file or can one of us file so the other still has good credit? And what type ...

    Jeffrey’s Answer

    More information is needed to properly evaluate your situation. Have you reported the scam to your bank? What exactly happened? Do you have other debts? I offer free consultations to go over all of your options in detail so if interested please let me know.

    Mr. Larkin is a San Diego Bankruptcy Attorney and is licensed in California. His response here does not constitute legal advice and does not create an attorney/ client relationship. The response is in the form of legal education and is intended to provide general information about the matter in question. Many times the questioner may leave out details which would make the reply unsuitable. Mr. Larkin strongly advises the questioner to confer with an attorney in their own state to acquire more information about the specifics of their case.

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