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Ryan Cullen Wood

Ryan Wood’s Answers

133 total


  • Would Filing a Malpractice/Negligence Suit Against My Chapter 13 Bankruptcy Lawyer Be Justified?

    Dates - 10/29/14 I recd email to pay $ to my mortgage co's attny & if I did then my loan would be reinstated 10/31/14 I met w/Chap13 bankrptcy attny & showed him the email w/due date 11/4/14 I gave my attny ALL the pprwrk he requested & $455 for t...

    Ryan’s Answer

    I agree with previous answer and will add a little more. If your attorney is successful you will have lost nothing and the loan will be reinstated anyway. You will pay the missed mortgage payment in the chapter 13 plan. Your already missed other loan payments anyway right? The whole point in you filing sounds like you are going to pay the missed mortgage payments via the chapter 13 plan and by law the loan will be reinstated so . . . . .. . If your house was actually foreclosed on then I have no comment or advice for you.

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  • What do I do when my wages are being garnished before taxes? And I am being garnished %25

    I want to know what i can do about this. based on what i would bring home this makes it almost 1/3 of my adjustable wages being taken

    Ryan’s Answer

    There should be a procedure in AR to reduce the amount garnished from your wages if you can show you need the wages for living expenses for you and your dependents. You could also work out a payment plan directly with the creditor and as part of the agreement they stop garnishing your wages. You can try and settle the debt with a lump sum cash payment to satisfy the judgment in full. You will most likely be issued 1099 for the forgiven amount though and the difference could be taxable as income though. You could file bankruptcy and stop the garnishment altogether, but who knows if bankruptcy is a viable option for you given the information you have provided . . . . .. . .

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  • I financed a car with my ex-wife. The divorce decree states that the vehicle and the debt for it are hers.

    She has not been paying on the auto loan, and it is hurting my credit. Do I have any legal recourse?

    Ryan’s Answer

    Sorry to hear it, but this is a common problem when parties getting a divorce enter into divorce orders like this. You did not actually once and for all separate yourself from liability on this debt. You need to contact your divorce attorney to take action in divorce court for her nonpayment. She was ordered to make the payment and there should be a provision in the divorce decree to address nonpayment. I actually do not know what would happen if you disputed the negative credit history with the credit bureaus by showing them the divorce decree and that she is responsible for paying the vehicle loan. Will the credit bureaus recognize the divorce decree and take of the negative history from your credit report? You can try though. Google how to dispute credit report errors and you should find the Federal Trade Commission website with a step by step guide.

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  • Bankrupt case chapter 7 discharged 7/26/12 but a collection Agency is harassing me for an account that was included

    collection agency can collect on an account that was discharged? Can They do that? So they report that I never pay this account to the credit bureau as active in collection status? They will not return my calls or emails

    Ryan’s Answer

    I will assume your case was a "no asset" case. If the original creditor or the collection agency you mention was listed in the petition then they should not be contacting you. They are in violation of the order of discharge and can be held in contempt for their continued attempts to collect the discharged debt. The fact they will not return your calls or emails is probably a good sign they know they are doing wrong. You can ignore them or let your bankruptcy attorney know of their improper conduct to take action on your behalf. If they call again make sure you tell them you filed bankruptcy and the debt was discharged and to never call you again. Ask for their fax number and send them the order of discharge so you have a written record that they are aware of the discharge.

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  • Can i keep my home filing a chapter 13

    Lost of income

    Ryan’s Answer

    Whether you can keep you home when filing chapter 13 depends upon a number of things. Are you current the monthly contractual payment? How much equity do you have if any? Are there other liens on the property for reasons other than your mortgage? That said when you file chapter 13, which can be for any number of reasons, you generally are trying to keep your assets and pay your obligation under your circumstances to the chapter 13 trustee under the plan filed and the bankruptcy code. One reason to file a chapter 13 is to protect your house from liquidation in a chapter 7 case if you have equity in the house that cannot be protected by the exemptions you are eligible for. So generally speaking filing a chapter 13 is to keep your assets while still fulfilling your obligation to creditors under the bankruptcy code as if your assets were liquated. You do not provide enough information so please consult an attorney in your jurisdiction and they will ask for more information and better answer your question based upon your specific circumstances.

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  • In a chapter 13 filing, does the trustee always keep income tax refunds?

    Back taxes were included in the filing and pymt plan already set, just filed taxes while waiting for my 341 meeting

    Ryan’s Answer

    According the bankruptcy code you are not supposed to. You should have been told to get your deductions in order so that you do not owe a lot of taxes at the end of the year and you do not receive a large refund either. Try and hit the sweet spot. Some model chapter 13 plans specifically address this issue so read your confirmed chapter 13 plan carefully and see what it says about tax refunds. I know there are some model chapter 13 plans that say you must turn over the refund for the benefit of creditors. Chapter 13 trustees administer cases very different from jurisdiction to jurisdiction so the best person to ask is you bankruptcy attorney or one in your area that regularly files chapter 13 cases.

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  • I received funds in divorce settlement in form of IRA from my former spouse 16 months into chapter 13.

    I need to withdraw 6350.00 for medical insurance deductable. Is this ok?

    Ryan’s Answer

    Call the attorney you hired to file your Chapter 13 bankruptcy case. If you do not have an attorney get one.

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  • If I file bankruptcy in the state of Washington do i have to do it on all my credit cards or can I keep one an file on the rest

    Um Buying MY HOUSE I'm 2 years in on a $180,000 loan

    Ryan’s Answer

    The questions is whether you owe money on the credit card you want to keep? You do not get to cherry pick when listing your debts. You have to list all of your debts so . . . . . If you do not owe any money on the credit card you want to keep guess what, there is nothing to list because there is no debt. After that it is within the discretion of the credit card you have a zero balance on whether or not that account will be allowed to continue to be open. i tell everyone assume all of your credit accounts whether you owe money on it or not will be cancelled if you file bankruptcy. The good news is you will get credit card applications in the mail upon filing for bankruptcy.

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  • Where does my single member LLC stand in Chapter 7 personal bankruptcy?

    If I file for Chapter 7 bankruptcy, what will happen to my single member LLC? The LLC has no debt, and it's actually not even earning income. I'm a 1099 contracted individual, and I just deposit my commission checks in my LLC business account...

    Ryan’s Answer

    The LLC is an asset of yours just like your car. So as you allude to towards the end of your question, what is the value of the LLC? The LLC must be disclosed as one of your assets. What will happen to your LLC cannot be answered because you do not provide any additional information about your assets, income or debts so . . . . . . Schedule a consultation with a local attorney, give them the big picture and get better answers regarding your specific circumstances.

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  • After a chapter 7 bankruptcy discharge in 2005 petition included IRS and state tax liens. IRS gave releases, state refused

    In 2005, my home was in forclosure and I was forced to file a chapter 7 bankruptcy and listed all creditors included on the petition was IRS and state tax liens for years 1999 2000 , 2001 2003-thru 2005 IRS nor the state ever filed an opposition. ...

    Ryan’s Answer

    I think you have provided bad information in your question or do not have the facts right. It sounds like to me the underlying FTB tax was not dischargeable period and that is why the FTB continues its collection activity. Not because of the FTB tax lien itself. If the underlying tax with the FTB was dischargeable it would draw a line in the sand regarding enforcement. The FTB tax lien should not be enforceable against post-discharge employment income. So you need to specifically ask the FTB exactly why they believe they have the legal right to garnish your wages. I think you will find it is because the taxes you owed the FTB or a portion of that taxes, were not discharged in your bankruptcy case. Also, have you contacted the attorney that filed your case? If not do it.

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