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Timothy George McFarlin's Answers
- 156 Legal Answers
- 7 Legal Guides
2
Attorney answers:
Landlord just declared bankruptcy and house is scheduled for foreclosure at the end of the month (this one has a twist) HELP
Until there is a foreclosure sale, the current owner (landlord) is still the legal owner of the property and entitled to lease it if she chooses. She has done the right thing in communicating the situation with you so you don't have any surprises. I think your suggestion is reasonable to offer her less money (perhaps half), and stay until the foreclosure is done. I understand her wanting to pick up her furniture and not risk losing it once the bank takes possession of the property....
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1
Attorney answers:
Am I required to pay rent after receiving 90 day notice from foreclosure sale?
Typically no rent. If the property was sold at a foreclosure auction, and they gave you a 90 pay o quit notice, you just have 90 days to move. They do not collect rent for these 90 days. If you were to move out early, you could contact them and they may offer cash for keys, but if you stay the full 90 days it's unlikely. If you definitely want to stay, you might contact them about renting the property from them after the 90 days are up, but it's probably not going to happen. Most buyers of...
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2
Attorney answers:
Collection Agency attempting to collect a debt thats over 5 years old do I still have to pay?
The statute of limitations for breach of written contract in California is 4 years. If you haven't made a payment in over 4 years, there is no legal basis for the current owner of the debt to sue you. However, it is not unlawful to attempt to collect on a debt that's over 4 years old. Typically settling these old debts does not get them off your credit report, in fact, in only encourages collectors to keep going and sell the debt again to another debt collector. Your best bet is to take the...
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2
Attorney answers:
I received an involuntary lien for a credit card debt, I am a renter, will they notify the owner/landlord of this lien?
A lien against you personally should not affect the property where you rent. It is generally not something they could evict you for. You should, however, consult with a bankruptcy attorney right away. It sounds like you have debts that have gone to judgment and now creditors are just waiting for you to have some assets to levy. That means your bank accounts and anything else you own is fair game. Bankruptcy generally solves these problems and gives you a fresh start without creditors...
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1
Attorney answers:
Do I have a law suit against my mortgage lender and/or my bankruptcy attorney?
I understand you're not happy about the way things turned out, but there probably isn't anyone to sue. Your bankruptcy attorney tried to be aggressive and get you the best possible result, in the end, it was the first that foreclosed, not the second. It doesn't sound like you were made any worse off by trying to strip the 2nd. As far as the lender, they did what lenders do, get relief from stay and liquidate properties. Obviously you were behind on the payments, so there wasn't much...
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3
Attorney answers:
If a chapter 7 is discharged in May 2010 & a personal injury lawsuit is settled in your favor in August 2010.
Technically, the personal injury settlement money is probably property of the bankruptcy estate, which means the trustee can take all but the $17k you mentioned to pay creditors. However, in these types of claims, it takes such a long time to resolve and requires monitoring by the trustee for the whole process, the trustee usually abandons the claim and any money that comes out of it, you would get to keep yourself. So, yes the trustee can take the money, they are not likely to do so because...
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2
Attorney answers:
I want to file chapter 7 Bankruptcy, but I will be shipping to army boot camp soon; what happens if I am unable to attend court?
If you are unable to attend your bankruptcy hearing, the trustee and judge do have the option of dismissing your case. However, judges and trustees are typically very deferential to our military personal, and often allow a notarized declaration in lieu of live 341(a) testimony. I'd suggest you speak with a bankruptcy attorney in your area and find out how the process works under the local rules of your district before moving forward, and experienced bankruptcy attorney will have had this come...
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3
Attorney answers:
Is there any advantages or disadvantages to filing bankruptcy jointly with a spouse (as opposed to seperately)?
Generally, the advantage is to file jointly with your spouse. Filing separately is two separate bankruptcy cases entirely, which means two separate legal fees and two separate filing fees. It would cost much more to file separately. There really isn't much downside to filing jointly, so in nearly all instances, I suggest to clients they file jointly. As was mentioned in the previous answer, there may be unusual circumstances, so it is important to speak to a bankruptcy attorney in your area...
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1
Attorney answers:
Can you settle a credit card debt after a court summons. Do I deal w/the credit card issuer or the law firm?
Yes, credit card companies, and their lawyers, are almost always open to settlement, even after the lawsuit has been filed (even after judgment in fact). The most appropriate thing to do is to contact the law firm who filed the case. You can usually work out payments with them, so you pay off the $3000 over 1-5 years, rather than a lump sum. Tell them you just don't have the money, but can offer payments, you also want to ask for no interest while you pay it off (which they usually can do)....
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1
Attorney answers:
Received 1099-a after foreclosure in AZ june '09. Box 5 marked yes for personal liability. This was purchase money 80/20 loan(s)
There are two issues here, the 1099 and the collection on the 2nd: 1099 issue: lenders seem to be sending out 1099's automatically lately without regard to whether it's taxable to the borrower or not. Under the mortgage cancellation forgiveness act of 2007, if the house was your primary residence or a 2nd home, you should not owe taxes. Also, you did not make any money on the house so you shouldn't owe taxes. Make sure to have an accountant prepare your taxes for the tax year in question so...
5 people marked this answer as helpful