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Dainen N Penta's Answers
- 64 Legal Answers
- 1 Legal Guide
2
Attorney answers:
Filing for bankruptcy protection, exempt assets, can husband and wife file separate chapter 7 petitions
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....
7 people marked this answer as helpful
3
Attorney answers:
Gift tax law, maximum gift per year without incurring a gift tax
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...
4 people marked this answer as helpful
1
Attorney answers:
WA state homestead/home equity exemption in WA state for chapter 7 bankruptcy petition
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,...
4 people marked this answer as helpful
3
Attorney answers:
Bankruptcy or negotiation time for debts that are 3 to 5 years old and haven't been paid for? Help!
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...
3 people marked this answer as helpful
1
Attorney answers:
WA state landlord tenant act RCW chapter 59.18, tenant's right to early termination of lease
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...
3 people marked this answer as helpful
2
Attorney answers:
AZ state residency requirement for filing a personal bankruptcy petition, chapter 7, chapter 13
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 (...
6 people marked this answer as helpful
1
Attorney answers:
Can I file bankruptcy after my divorce that has a hold harmless clause
Yes, you can file bankruptcy even if your divorce decree has a "hold harmless" clause. A common situation I encounter with my clients is that they got a divorce and divided their debts. Neither can truly manage on their own and so eventually, someone needs to file for bankruptcy. The way the "hold harmless" clause allows your ex to ensure that you are paying debts you agreed to pay. For example, if you agreed to pay 1/2 of an American Express account in your divorce decree, and then...
2 people marked this answer as helpful
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Attorney answers:
Collection law in WA state, garnishment procedures
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....
2 people marked this answer as helpful
2
Attorney answers:
Bankruptcy vs debt settlement
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...
5 people marked this answer as helpful
1
Attorney answers:
Creditor's right to object to dischargeability in a chapter 7 bankruptcy case, cash advance and gambling on dischargeability
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...
5 people marked this answer as helpful