I agree with the civil procedures discussed above but depending upon the size of this debt (and any other debts you may have) I always advise people to consider if bankruptcy could help. It will wipe away the debt without having to fight it any further and without having to pay to fight it any further.
If bankruptcy is not a good option then you could proceed with the civil procedure tactics outlined above. I would consult an attorney to help you decide which course is right for you.
I agree. What he said! Don't worry about clauses in contracts that either prohibit filing bankruptcy or exempt that particular creditor from the bankruptcy. If that tactic would work then absolutely every contract would contain such a clause which would render bankruptcy as useless as.......
So bankruptcy is your federal right and you can file it if you wish and you can discharge all debts in bankruptcy that are legally dischargeable.
-Douglas G. Farquhar, Esq. (619) 702-5015
I agree that IRS form 982 is the correct form to file to avoid cancellation of debt income. It can be filed if you are insolvent at the time or if you are in bankrupcy. The best thing to do though is to check with a tax attorney or accountant to make sure you do not miss anything because taxes are tricky.
I had a client with the same SBA lien on his home. You cannot strip that lien off your home in a chapter 7 but you might be able to in a chapter 13. I agree that you probably have personal guarantees on all of your cards. I agree also that you should probably consider shuttering the business since it is failing. Then you could file one personal bankruptcy.
If your other job makes 100k per year then you probably have sufficient disposable income to fund a 13. You might have a lease for...
No, generally you cannot. You must attend the hearing unless you are abroad in a war zone fighting for the military. There may be other exceptions but that is the one that I am aware of. You could try contacting the Trustee but it is unlikely that he or she will let you attend by phone.
I agree that bankruptcy is possibly a good option to consider if you qualify and if the total debt is large enough to justify one. I would recommend consulting a bankruptcy attorney about this.
Unfortunately the creditor is not obligated to accept small payments so your other option is to settle the debt with them. A lawyer working on your behalf could be of help here too.
I would be glad to help you if you e-mail me at email@example.com or check out my website at www.farquharlaw.com.
I agree to hire an attorney and don't risk getting your case dismissed. Attorneys have special software that includes everything and files your case electronically. Plus you get legal advice on what to do and what not to do in your bankruptcy.
As far as this car is concerned though it looks like there is no equity currently in it if your figures are correct. Therefore there is nothing to exempt but the creditor and the car must be listed correctly in the bankruptcy schedules. Contact an...
A charge-off just means that the debt was sold to another creditor/collector who will come after you now for payment. The charge-off did not make your debt disappear, you now owe the new creditor/collector. They apparently have a judgment because they are levying your bank account.
It may be time to consider filing that bankruptcy to get rid of this debt. I would be glad to give you a free consultation. Call me Monday at 619-702-5015 or e-mail me at firstname.lastname@example.org or visit my website...
You also might want to wait and see their evidence that you are a gun owner that has stockpiled ammo. Once you see what that is then you can find a way to show that it is untrue. Perhaps it is a case of mistaken identity- they may have the wrong guy and you need to show that you are not that guy (even if you have the same name as him).
Bring a Kelly Blue Book estimate of your car's worth and make sure you use trade in value b/c it's lower.
Don't forget too that bankruptcy will make...
I agree with the others that they cannot garnish or freeze your bank account that contains your social security payments. Call the bank if you are concerned.
On of my clients did this and the bank assured her that they could not and would not freeze or allow the siezure by a creditor of her social securtity funds deposited in her bank account even if the creditor was armed with a garnishment order.