William Richard Abelmann’s Answers

William Richard Abelmann

Honolulu Bankruptcy Attorney.

Contributor Level 5
  1. In an unsecured loan what criteria is used to claim it as a business loan as opposed to a consumer loan

    Answered over 4 years ago.

    1. Mark Markus
    2. Ellen Lorraine Patton
    3. William Richard Abelmann
    3 lawyer answers

    It appears that you may be a creditor in this case. Generally, classification of debts as consumer or non-consumer will not have a significant impact on the dischargeability of debts in a chapter 7 proceeding. As the debtor prepares the petition, they will have the opportunity to describe each debt. This description may include words such as "business loan". In any event, the only explicit description of debts as consumer/non-consumer is in the initial pages of the voluntary petition where...

    1 lawyer agreed with this answer

  2. I filed bankruptcy over 10 years ago and recently a collection agency is trying to collect on a debt included in the bankruptcy.

    Answered almost 4 years ago.

    1. Steven Alan Fink
    2. William Richard Abelmann
    2 lawyer answers

    If the debt was discharged in your prior bankruptcy, you may also have recourse through a discharge violation. You can reopen your case and file an adversary proceeding against the collection agency to seek damages and attorney fees. As it is a collection agency, you are also likely to have recourse through the Fair Debt Collection Practices Act. Your state may also have an Unfair and Deceptive Practices Act incorporated into state statutes that may net you further statutory damages. I...

  3. Chapter 7 Bankruptcy: Is it consider a secured or an unsecured debt?

    Answered over 4 years ago.

    1. Mitchell Paul Goldstein
    2. Ellen Lorraine Patton
    3. Grant Winfield Patten
    4. William Richard Abelmann
    4 lawyer answers

    Secured status will depend on whether any collateral was posted for use of the card (or funds in an associated savings/checking account pledged as collateral), or what was purchased with the credit card. If a creditor alleges a purchase money security interest in items such as jewelry, furniture, or electronics, secured status may also depend on whether the creditor's security interest has been adequately established. If you are unsure, it is probably best to list the debt on Schedule F and...