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Ryan Cullen Wood

Ryan Wood’s Answers

133 total


  • Am I allowed to call my debtor's employer regarding a judgment and wage garnishment? Or is that some sort of violation?

    I was awarded a judgment in Cook County circuit court which the defendant has yet to pay. I am the original creditor to this personal debt. According to his social media job listing, I might know his place of employment. Am I allowed to call the p...

    Ryan’s Answer

    Why not just garnish the debtor's wages if you know where the debtor works? Why even call? What will you gain by doing that? Do a judgment debtor's examination to find out more information about the debtor's assets so you can enforce the judgment against the debtor. Enforce the judgment but try not to play games with third parties like the debtor's employer or family members. You just want to get paid so focus your attention on that.

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  • Can you threaten a partner to sign over his share of a co. by saying you will leave and take your part and bankrupt the co.

    The real power behind the threat is the bank loan that he will be on the hook for because he has his name on 500.000 worth of property that the bank will lien on and, I only have 10,000 in property

    Ryan’s Answer

    There is far more to this story than the sentence you provided, right? You need to look at all the possible outcomes of making such a threat and make the best choice for you. You are not providing near enough information here to provide any real informed advice. Is your company a corporation, an llc or a partnership? Are you going to file a personal bankruptcy? If so will that even achieve what you are trying to do? Sounds like you need to explore less threatening avenues to achieve your desired result.

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  • I got my wages garnished how do i know how much money they take from my paycheck

    I live in illinois i got my wages garnishe i only owe 2000 how do i know how much money i get taken out of my paycheck

    Ryan’s Answer

    Just call your payroll department or payroll preparation company that issues your check. They will know exactly how much you will be garnished and when.

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  • Regarding reaffirmation, how does the deadline and stay apply when a case is closed and reopened due to non filing of schedules?

    In Chapter 7 Bankruptcy, I filed the minimum schedules required for my petition but didn't get the remaining schedules filed in time for the two week deadline and my case was dismissed. The 341 meeting was set but since I missed the 2 week deadlin...

    Ryan’s Answer

    It is not a new case, just a reopening of the same case, so it is my understanding that the deadline is from your first scheduled meeting of the creditors. It was scheduled so . . . .. . . It sounds like you still have time to file the reaffirmation agreement without blowing the deadline, so just do it and do not take any chances. Why wait?

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  • How do I enforce and a final judgment in an adversary proceeding?

    I filed an adversary Proceeding against the Dept of Ed for student loans. I won the case 4 months ago and now they are refusing to discharge my loans stating they are going to reopen the case and appeal it. However, it has been four months and the...

    Ryan’s Answer

    You need to speak with an attorney in your area as soon as possible and seek sanctions for violation of the order of discharge pursuant to section 524. If you in fact have a judgment from the adversary proceeding you should not have any issues obtaining your actual damages and may even obtain punitive damages. The failure to stop collection and report negative history on your credit report is/will negatively effect your ability to rebuild your credit the longer you let this go. Section 524 and motion for sanctions. Google it.

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  • How many house payments on my mortgage can I miss before the bank begins foreclosure?

    My mortgage is around $70,000, home with land appraised at $100,000. I can not get along with my bank. I never had trouble until it was bought out by another bank, and the bank president whom I had always dealt with retired early b/c he did not l...

    Ryan’s Answer

    To answer your question directly, you can miss as many mortgage payments as your lender will let you miss before they start the foreclosure process. If you have never heard of someone that has lived in a house without making a mortgage payment for two years I can tell you it happens. Does that mean it will happen for you? Who knows and past results is never a guarantee of future results. Like the previous poster said you should speak to experienced bankruptcy attorneys in your area as soon as possible to educate yourself about filing bankruptcy. Preferably Chapter 13 so that you can save your house and stop a foreclosure if your lender starts the process. I do say attorneys because you need to speak with more than one just in case.

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  • Can student loan lender AES report account as included in bankruptcy even though it wasn't. My loan was in good standing with

    They originally reported my loan as default and included in bankruptcy. After multiple disputes with credit bureau. They restored my payment history and the account is now current paid as agreed but included in bankruptcy. This is the only student...

    Ryan’s Answer

    First, you do not distinguish between whether you filed for Chapter 7 or Chapter 13. It sound like Chapter 7 and you continued to make your student loan payments directly to the lender and are current with the payments. Clients always want to know what is "included" while what is important is what debts can be discharged. To distinct issues. Your student loans were listed in your Schedule F as part of your debts right? Review the bankruptcy petition. So given that the student loans were included in your bankruptcy petition and case right? They are just not discharged.

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  • Can I keep my car if the judge disapproves the Reaffirmation Agreement? I'm in Nevada.

    I signed a Reaffirmation Agreement for my car, as did my lender. I was told my attorney would go to court for me. However, the attorney did not sign the Reaffirmation Agreement and I'm not sure they went to court. The judge disapproved The agreeme...

    Ryan’s Answer

    If you were at the hearing hopefully you know what the judge said. Did the judge say anything about if you stay current and the loan company tries to repossess the vehicle to seek relief in his/her court? This is common in Bankr. Courts in the Northern District of California. This is the exact outcome I like for my clients. You/client try and reaffirm the debt but the court denies the reaffirmation of the debt. So the debt is technically discharged and you will not have any issues (owe anything) if you/client for some reason cannot make the payments in the future. Great result and good job. Keep making the payments on time and you should not have any issues.

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  • If you receive a 1099C form cancelling a debt and report this on your tax return, can the debt still be recovered by the debtor?

    What if the debt still appears on the credit report after it was forgiven?

    Ryan’s Answer

    Just because the debt is charged off does not mean it is not legally enforceable. If you received the 1099 that does not mean the debt was not sold off to a collection agency for further legal action. If you do not know about IRS Form 982 check it out. It exempts 1099 income from your taxable income under certain circumstances. If your CPA is not familiar with IRS Form 982 run away as fast as you can.

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  • Education Law/Student loan default

    Can my RR pension be taken for default student loan.....the loan is only in my name..not my husbands.....can his assets be taken

    Ryan’s Answer

    There are always additional questions to ask, like is all of your property community property? You live in California and California is a community property state. If all of your husband's property is community property, meaning both of yours, then you could have a problem. Are the student loans a community debt? If not a community debt then only your separate assets are potentially liable. Have you been sued? If not, then the student loan company cannot seize or levy on your assets anyway . . . . . . There are always additional questions to get the right answer.

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