Mark Charles McClure's Answers

Is there any way out to be debt free with out filing a bankruptcy?

The following options are available to erase debt: 1. Pay the obligation off; 2. Negotiate with the creditor to see if they will allow for modified terms, and pay the modified debt off; or 3. (a) Eliminate the debt through a chapter 7 bankrutpcy or reorganize the debt through a chapter 13 bankruptcy. The first two options usually do not work. Most of the time if you are struggling you can pay off the debt and unfortuantely most of the time creditors do not give you the time of day...

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Can I file bankruptcy for my business only, if it is a Sole Proprietorship? And how would that work?

A sole proprietorship and you are one and the same. You are the sole proprietorship and there is no legal fiction that the company is a separate person. Don't feel bad though. Even if you had set your business up as an LLC or a corporation, you would likely be personally liable for the credit card debts anyway. The contract / agreement with you entered into with the credit card companies ensure that is the case. Filing bankruptcy will affect all debt — it eliminates all of the credit...

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Bankruptcy vs. defaulting on unsecured credit

If you file bankruptcy before the debt becomes delinquent, your credit rating would take a small hit and then recover over the next one to two years. If you wait, your score will drop substantially. It would still recover when you later file a bankruptcy, but it would be at a lower rate. If you default without filing, the creditor has up to 6 years after the loan is accelerated to file a law suit against you and obtain a judgment. A judgment in the state of Washington is good for 10...

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Should I go bankrupt while my sole proprietor business is still open? or wait till it's closed?

If you are planning on closing the business, I would wait to file until after it has closed normally. Be sure to pay your taxes FIRST from the revenues that you recieve. Business related bankruptcies are typically more complicated that the average person who merely receives a pay check every two weeks. You should consult an attorney to make more specific plans related to the shut down. Regards, Mark McClure

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Motion , Declaration & Order of Default and Judgment - Wage Garnishment and lie concerning being served

First of all, I recommend that you get an attorney. While you can represent yourself, it took a baby attorney three years to understand te basics of the law and it will take him/her another three years to be able to start to reliably apply that knowledge practicably in the courts. In other words, this stuff can be tricky. The attorney (you need to get right away) should set aside the default judgment and vacate the write of garnishment based upon lack of service, and for other good reasons...

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What does a default judgement mean? What can happen to you if you have a default judgement against you?

A default judgment means that you were served with a law suit and were alleged to not have answered the suit in a timely manner. If you dispute having been served you may be able to seek to have the judgment set aside and get your day in court to argue the merits of the case. A judgment in the state of Washington is good for 10 years and renewable for another 10. The judgment would entitle your creditor to seize bank accounts, portions of your pay, and it would likely act as a lien against...

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If my company a LLC is going out business soon Which bankrupcy option should I pick Chapter 7 or Chapter 11

Unfortunately there is likely not one simple solution. You have both your debts and those of the company to deal with. This will likely require two separate bankruptcies. Either a chapter 7, 13, or 11 personal to you and if you want to restructure the existing company a chapter 11 for the LLC. Chapter 11 reorganizational bankruptcies are expensive. There may be a simpler solution but it really depends on the amount of debt you have. Under limited circumstances it might be a good idea to...

Will filing bankruptcy affect your green card?

The filing of the bankruptcy will not hurt you.

I am in a debt settlement program. Can a court judgement (if sued) force a sale of our personal property?

Debt Settlement: Debt Settlement Companies cause more trouble and damage than filing a banrkutpcy in almost all cases. They provide no protection whatsoever and take your money while giving your a false sense of security. Call a Bankruptcy Attorney right away. Homestead: You can only file a Homestead Declaration against real property and only against one real property. While you may be able to protect the boat as your homestead, you would have to actually be living in it and file a...

I just had my 341 hearing but I failed to list an auto loan that had been charged off. Is it too late to go back and list it?

If the bankruptcy is still open, you would: (1) amend your schedules to add the creditor; (2) amend the creditor matrix; (3) mail a copy of the Notice of Chapter 7 Bankruptcy to the missed creditors; and (4) file a Proof of Service indicating specifically who was added, that you sent them notice via mail, list the e creditors address, and state that you mailed the Notice of Chapter 7 Bankruptcy as a Declaration under Threat of Perjury. If the bankruptcy has been closed, you do not need to...