Dainen N Penta’s Answers

Dainen N Penta

Seattle Bankruptcy Attorney.

Contributor Level 10
  1. Filing for bankruptcy protection, exempt assets, can husband and wife file separate chapter 7 petitions

    Answered over 6 years ago.

    1. Dainen N Penta
    2. Lesley Abigail Hoenig
    2 lawyer answers

    You are in an unfortunate situation, and if you are thinking about filing for bankruptcy, it is often better to do so sooner rather than later. It is also unfortunate that you feel the attorneys you have seen "just want us to hire him/her." Usually we want you to hire us because we are certain that we can help you! True, there is a great deal of shame and stigma attached to seeking bankruptcy protection. Many people feel that there are other options that aren't being explained to them....

    1 lawyer agreed with this answer

    7 people marked this answer as helpful

  2. Gift tax law, maximum gift per year without incurring a gift tax

    Answered about 6 years ago.

    1. Dainen N Penta
    2. Igor Drabkin
    3 lawyer answers

    That is a very substantial gift you are about to make! Perhaps you would like to make a gift to a promising young attorney to help pay off his crushing law school debt. In all seriousness, you should be aware that the provisions of the estate and gift tax provide a wonderful variety of ways to make gifts while helping you minimize, or in some cases completely avoid tax liability. For example, the "annual exclusion" is up to $12,000 per year per donee for 2008, which generally allows you to...

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  3. WA state homestead/home equity exemption in WA state for chapter 7 bankruptcy petition

    Answered over 6 years ago.

    1. Dainen N Penta
    1 lawyer answer

    Exemptions in bankruptcy became much more complex after the reform act of 2005. If you are a long-time Washington resident, you'll probably qualify to select either the exemptions (the laws that determine the property that your creditors cannot take) set forth under Washington law, or those set out in the US Bankruptcy Code. Under Washington law, the maximum homestead exemption is $125,000 (since July 2007). Under federal law, it is significantly less, even for a married couple. However,...

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  4. Bankruptcy or negotiation time for debts that are 3 to 5 years old and haven't been paid for? Help!

    Answered about 6 years ago.

    1. Dainen N Penta
    2. Gregory J. Jalbert
    3. Brett D Weiss
    3 lawyer answers

    Your situation is all too common, I'm afraid. The rising cost of college education puts even public university graduates in a tight financial spot. You probably qualify to file for bankruptcy, given what you've said here. The type of bankruptcy that is best for you depends on your situation, and you should definitely contact an attorney to discuss your options. My own policy is to spend some time on the phone getting to know you and your situation before scheduling an office visit, and most...

    1 lawyer agreed with this answer

    3 people marked this answer as helpful

  5. WA state landlord tenant act RCW chapter 59.18, tenant's right to early termination of lease

    Answered about 6 years ago.

    1. Dainen N Penta
    1 lawyer answer

    Your landlord _might_ agree to let you "break" your lease and move out before the term is up. You would be well-advised to get written confirmation of your landlord's consent to this. Generally, if you move out of an apartment or other rental prior to the end of the lease term, you are still obligated to pay rent for the remainder of the lease. Keep in mind that even if the apartment re-rents and the landlord agrees to let you move out, there is still a delay between your moving out and...

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    3 people marked this answer as helpful

  6. AZ state residency requirement for filing a personal bankruptcy petition, chapter 7, chapter 13

    Answered over 6 years ago.

    1. Jeff Adrian Biddle
    2. Dainen N Penta
    2 lawyer answers

    The law that discusses where you should file your bankruptcy case in provides, generally, that you must have had a "domicile, residence, principal place of business...or principal assets" in the district where you file for 180 days before the date that you file a bankruptcy case. If you have not lived in Arizona for 180 days, then generally you may still be able to file in Arizona if you have lived there for "longer than" you have lived anywhere else in the 180 day period before your filing (...

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  7. Collection law in WA state, garnishment procedures

    Answered about 6 years ago.

    1. Dainen N Penta
    1 lawyer answer

    You need to discuss your financial situation with an experienced bankruptcy attorney right away. You need someone who can evaluate your situation and explain your options to you. You've indicated that there is a judgment of some kind against you and against your business. In most cases, it is only a matter of time before the judgment creditor takes steps to enforce the judgment. There is a reason that you were sued, and the creditor will not sit around waiting for you to pay the judgment....

    1 lawyer agreed with this answer

    2 people marked this answer as helpful

  8. Bankruptcy vs debt settlement

    Answered about 6 years ago.

    1. Dainen N Penta
    2. Brett D Weiss
    2 lawyer answers

    The attorney you spoke with was probably correct in advising you to file for bankruptcy. I know there is a lot of stigma attached to filing for bankruptcy, but what is more embarrassing - to declare bankruptcy once and get a fresh start, or to stay in debt and arm-wrestle with creditors for years to come? You also have student loans - if you can't pay your credit cards, how do you expect you'll be able to pay your student loans? Keep in mind that if you try to settle your credit card...

    1 lawyer agreed with this answer

    5 people marked this answer as helpful

  9. Creditor's right to object to dischargeability in a chapter 7 bankruptcy case, cash advance and gambling on dischargeability

    Answered over 6 years ago.

    1. Dainen N Penta
    1 lawyer answer

    You have indicated that the cash withdrawals were from your checking account, not from credit cards. Generally speaking, you (and your attorney, if you have one) will need to be prepared to provide bank statements showing the withdrawal amounts and dates. You will also probably be asked to explain the source of the funds, how the funds were spent after you withdrew them, and to provide documentation of all of it. Note that a discharge in bankruptcy is available only to the "honest but...

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  10. What can I do to resolve issue with the IRS, IRS will not accept my 2007 tax return.

    Answered about 6 years ago.

    1. Dainen N Penta
    2. Tracey Samantha Chechele
    2 lawyer answers

    I think you need to contact a tax professional, whether that is a CPA or a tax attorney. It is often difficult and time-consuming to deal with the IRS and that goes for tax professionals as well! Unfortunately, in my experience the IRS representatives are all over the map when it comes to their experience levels, and in their willingness to help. The U.S. tax system is a "self-reporting" system, meaning that the integrity of the system depends on taxpayers who report their income,...

    1 lawyer agreed with this answer

    1 person marked this answer as helpful