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Michael Scott Martin

Michael Martin’s Answers

13 total


  • Does a debtor need to personally appear at a meeting of creditors?

    Will the debtor need to be their personally when he has the meeting of creditors? or just the attorney?

    Michael’s Answer

    Attendance is almost always mandatory of the attorney and debtor, unless the trustee allows some alternative way to fulfill Section 341 of the bankruptcy code which requires every debtor be examined under oath. As mentioned by my colleagues there are various ways to do this when the situation warrants. An example I have experienced is when the debtor is imprisoned.

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    Michael S. Martin, Esq.
    LAW OFFICES OF MICHAEL S. MARTIN, A Professional Law Corporation
    209-565-4050
    www.MichaelMartinEsq.com

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  • What are the most common reasons creditors file for adversary hearings?

    What is/are the most common reason a creditor will be most likely to file an adversary hearing?

    Michael’s Answer

    An adversary proceeding from a creditor would most likely be for an objection to discharge as to the debt you owe them or an objection to discharge (in the entire case). There are different reasons this can be done as my colleagues indicated above. Typically, charge ups before filing or something the creditor perceives as fraud. If this has occurred in your case, you should immediately consult an attorney. An adversary proceeding is similar to a lawsuit because you only have a set amount of time to respond. If you do not, they will win by default. Depending upon the facts in you individual case, a skilled attorney may be able to convince the creditor to drop the AP, settle for some amount, or some other alternative.

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    Michael S. Martin, Esq.
    LAW OFFICES OF MICHAEL S. MARTIN, A Professional Law Corporation
    (209) 565-4050

    www.MichaelMartinEsq.com

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  • How can I find out if my mortgage was executed legally? In Mar '11 my Chapter 7 was discharged and I never reaffirmed.

    The originator was MetLife, and I think it was sold twice, the sericer is MGC. I have received a notice of foreclosure sale to occur on 11/22. The attorneys are Bierman, Geesing, Ward and Wood in Bethesda, MD. I understand they have countless law...

    Michael’s Answer

    First, let me tell you I am not an attorney in Maryland, rather in California, so any advice given would that which I would give to a client in California as to your question. You should always consult with a local attorney.

    As to not reaffirming that has legal significance. What it means is you are no longer personally liable for the loan. This means even if your state is a recourse loan state, you cannot be sued for the deficiency. Additionally, this loan should report on your credit report as included in bankruptcy, rather then Foreclosure, because the bankruptcy occurred first and extinguished your contractual liability.

    As to your other question, I believe the previous attorney addressed the same way I would. Basically, find an attorney that specializes in that area. I would recommend finding a graduate from O. Max Gardener's bootcamp. He specializes in this area and teaches other attorney's in great depth about this very issue. You can find his graduates listed at: http://www.maxbankruptcybootcamp.com/find-graduates. I am not associated in anyway with them, but have found him to be one of the leaders in these sorts of legal issues.

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    Michael S. Martin, Esq.
    LAW OFFICES OF MICHAEL S. MARTIN, A Professional Law Corporation
    www.MichaelMartinEsq.com

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  • How to claim my Amount?

    My long relative took my credit card information for the use of $ 80:00 and he spend like $ 1047:00 for his Student health insurance. He said he can pay it later and now he is not responding. What can I do now? How can I get the My amount ba...

    Michael’s Answer

    I am not an attorney in your state, however, this is what I would advise for a similar situation in California. First, I would make a written demand for the money. See if you can get something in writing from him recognizing he owes you the debt, such as a payment arrangement. If he still does not pay and you are within the statue of limitations you could file a lawsuit against him. Be certain to check the statute of limitations because you typically only have a set amount of time to file suit from the time it was loaned. A local attorney can advise you of this.

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  • (Chapter 7) Motion For Relief From The Automatic Stay (Hearing)

    I have a hearing date ( MOTION FOR RELIEF) in a couple days regarding my car. I didn't respond to the motion nor am I going to the hearing to contest. Does the courts grant the lift of the automatic stay at the hearing. Do they give me a few da...

    Michael’s Answer

    It may be a good idea to see if the court has already ruled on the motion. This can be done by looking at the tentative ruling (if there is one). You may contact the court. If a ruling has not been made, it may be possible to appear at the hearing. Even if the judge is inclined to grant the motion, he/she may allow additional time and/or be willing to give you the extra 10 days under 4004. I do not practice in your district so I am not aware what the local procedures are. You could also contact the local court to find out if your appear on the matter.

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  • How homestead or other exemption protect my real property?

    My wife and I own a Cando in CA. Estimated value on zestimate is $173,900. Two mortgages, one pay-off is $86,000 and another is $57,000. We are keeping payment and will. Not consider cost of sale, the equity is about $31,000. I am 63 and I will fi...

    Michael’s Answer

    There are essentially two different choices as to exemptions under the California Civil Code. They are often referred to as 703 and 704 exemptions. These exemptions are exclusive. This means if you use 703 exemptions, you may not use ANY 704 exemptions, and vice-versa. You will most likely have 75,000 or more in protections using one of the two types of exemptions. If you utilize the homestead exemption, the other exemptions are fairly limited. I would highly recommend contacting an attorney in your area who can assist in completing a full evaluation of your assets and possible exemptions. Remember, literally everything you own must be exempted: cash in accounts, retirement, vehicle equity, life insurance, clothes on your back, etc. There are many exemptions available, but you do not want to file a Chapter 7 bankruptcy without fully understanding all exemptions. If you have nonexempt property in a Chapter 7 case, the trustee is free to liquidate that property.

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  • Collection agency lawyer (credit card ) filed to motion aganist my house(lien), No equity on my house, what can I do now ?

    motion court date is Dec.09.2011

    Michael’s Answer

    It may be possible to get rid of the lien in a Chapter 7 or Chapter 13 bankruptcy. To get rid of it in a Chapter 7, as the previous attorney mentioned, you would claim a portion as exempt. You may also get rid of the lien if there is no equity for it to attach to in a Chapter 13. This is similar to stripping a second mortgage. This should be discussed with an attorney in your area as there are many details you should review with a qualified attorney.

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  • Is there an exemption I can take for my rental property in California?

    I am in a Chapter 7 bankruptcy. I heard that if I could get an exemption on real property, then it won't be foreclosed on just as long as I am current on the payments. Is there this kind of exemption I can take on a rental property?

    Michael’s Answer

    I would agree with my colleague. Remember though an exemption is necessary for something your have an interest in (IE equity). If you do not have equity (because the loan is equal to or greater than the value of the home), you need not exempt it.

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  • What does this mean? Trustee is discharged as the Trustee of the Debtors estate and the bond is cancelled.

    The chapter 7 case of the debtor is closed. Is this a good thing?

    Michael’s Answer

    That would indicate that the trustee's duty (which depends upon the chapter of bankruptcy filed) are complete. As my colleagues have noted, this would occur when the case were discharged or dismissed.

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  • When is a case considered "closed" in a Chapter 7 bankruptcy? Is it right after getting the discharge?

    I am in a Chapter 7 bankruptcy. I would like to know when is my case considered "closed"? Is it right after getting the discharge? A few days later? How do I know when my case is "closed"? What happens to the collateral for secured debt when the c...

    Michael’s Answer

    The case is typically closed soon after discharge, however this is not always the case. The most common delay in closing of case after discharge if the trustee is still examining the case or the assets of the debtor. This is most often done when there is unexempt property or a determination is yet to be made as to the ability of a debtor to exempt property. Your attorney should be able to inform you of such or you may check via the federal court online access of case information called PACER. As to secured debt, upon discharge (or in some cases sooner) the protection provided (called the "stay") is lifted. At that point secured creditors with whom you are not current on payments are no longer restricted by court protections and therefore would be able to repossess vehicles, move forward with a trustee sale on a home, or other means. As to notice, it depends on the situation. Typically, a vehicle may not have further notice, while a home (if notice had not yet been given) has specific notices required prior to trustee sale. If you have further questions, our office may be contacted at (925) 218-3944.

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