Harley Aaron Feinstein's Answers

Losing the car in a bankruptcy?

Based on the questions you ask, you definitely need to see an attorney. But people don't go on this site just to be told to get an attorney. However, it's a good idea to educate yourself before seeing an attorney. So here's a little info. If your business is incorporated or an LLC then it can'f file a chapter 13. In can be shut down and liquidated of course. You can do this as a chapter 7 or not. Chapter 7s for corporations are somewhat rare. Most people that liquidate their...

Selected as best answer

Should we sign the reaffirmation agreement on our car loans?

I sounds like you are trying to decide between 2 alternatives: Alternative 1: REAFFIRMATION: Reaffirmation means that you make a new promise to pay the vehicle loan. In other words, the bankruptcy discharges the original loan but you make a new promise to pay the loan. If you do this you remain personally liable for the vehicle loan even after bankruptcy. If, say 6 months after the bankruptcy you default then the lender will probably sue you. You won’t be able to discharge that debt for 8...

Selected as best answer

Is a home considered an asset if you just bought it 2 year ago?

4 people all saying they got neck injuries? Since it was a minor impact I'll assume that the neck injuries were minor - "soft tissue" sprains and strains. Why do you say you are underinsured? The minimum that you could possibly have is $30,000 for the 4 claimants to divide up among themselves. If the injuries are minor then you can be pretty sure that their attorney will accept the $30,000 and have his clients release you from all liability. Since you have liability insurance you just...

Selected as best answer

Can we fight mortgage fraud "MERS" loan through chapter 13 ?

One more point: It is not correct that the standing argument can be brought in state court by filing an Answer to the foreclosure complaint. Unlike many other states, In California, it is highly unusual for a lender to file a complaint for foreclosure. It is done without any judicial action. So you will not be filing an answer.

3 lawyers agreed with this answer

Surrendering house in bankruptcy

Generally speaking, you are liable for the deficiency owed on a second after a foreclosure unless the purpose of the loan securing the second was the purchase of your home. Improving does not equal purchasing. But please see link below for a more complete summary of the law on this subject.

Selected as best answer

In bankruptcy, If your self-employed will they require that I provide tax returns. I am a realtor.

You need to provide information concerning your income in order for the court to determine if you qualify for bankruptcy under the Means Test. Generally, self employed people like you, document your income with a financial statement not your tax return. Your attorney will tell you what you need to demonstrate your income. You must show what your income was during the 6 months period prior to filing. In the Southern District (San Diego) you must provide this documentation to the trustee...

Selected as best answer

All my debts are under my name, however, the bankrupcy attorney advises that my husband files bankrupcy as well.

Hold on a minute. In California a spouse is not personally liable for the other spouse's debts. However the community property owned by the couple may be taken by a creditor to satisfy a judgment for a debt of either spouse. In other words, let's assume you default on a credit card, in your name only, with a $10,000 balance. Lets assume you have $15,000 in the bank and its community property. The credit card company can sue you get a judgment and take the $10,000 out of your bank...

Selected as best answer

I received my BK7 discharge 5 months ago. One creditor was not included...do i still have time to reopen and add this creditor??

Click on the link below to an article I wrote on the subject of CREDITORS OMITTED FROM BANKRUPTCY. Also check the link to the article I wrote entitled CREDITORS TRYING TO COLLECT AFTER BANKRUPTCY. There is the basis of a letter you may be able to adapt to your purposes. Good luck.

2 lawyers agreed with this answer

1 person marked this answer as helpful

How do I approach my attorney regarding incorrect Schedule C discovered post-discharge (C7)? He wants to charge me AGAIN!

If there was no equity in your house it wasn't an error by your attorney not to exempt it. But now you wish to file a motion to void a judgment lien and to do that you need to list the house as exempt even though there's nothing to exempt. It is perhaps a strange contradiction that you would need to list an asset as exempt even though there is no equity but bankruptcy is full of strange counter-intuitive things. So, I suppose, if your attorney knew that you were going to want or need to...

Selected as best answer

Can i amend discharged chap 7 CA bankruptcy to add divorce orders to pay 5K ex's personal credit card? bankruptcy is not closed

Your question was whether you can amend to add the credit card. The answer is yes you can amend and add the credit card debt. However if your bankruptcy was a "no asset case" then your debt to the credit card company is discharged even if you did not list it in your bankruptcy. See link below. But your debts to your ex that arise from the divorce decree are not discharged in your ch 7 bankruptcy. So, for example, if he gets sued by the credit card company whose debt was assigned to you,...

Selected as best answer