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Darcel Andrel Lobo

Darcel Lobo’s Answers

39 total

  • Post chapter 7?

    In early 2005 I invested about 40K into gold option contracts. I used cash advances from credit cards and then paid off the cards from the sale of our house in 7/05. We then moved to Utah and had financial issues. We filed C7 on 1/9/08. I thoug...

    Darcel’s Answer

    You need to contact a bankruptcy attorney immediately; as the asset was not disclosed in your bankruptcy. It is likely that you will have to re-open your bankruptcy case and exempt the $14,000 (or what the value would have been at the time of filing) to the extent that you can exempt it.

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  • Am I still personally liable for my mortgage after Chapter 7 discharge?

    Hello. I live in Florida. When I filed my bankruptcy petition my statement of intention said I wanted to reaffirm my mortgage. I changed my mind and stopped making payments before my case was closed. I never signed a reaffirmation agreement for th...

    Darcel’s Answer

    No you aren't, the Statement of Intention does not dictate what debts survive the bankruptcy. If no reaffirmation agreement was signed then it was not reaffirmed and it did not survivie the bankruptcy.

    The lender would still have the lien against your home, and can foreclose. But you wouldn't be liable for any deficiency.

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  • About Chapter 7 Bankruptcy

    I live in Ohio. My Lawyer filed a chapter 7 Bankruptcy for me---now i do not want to go through with it. I don't want to go to jail for not showing up. My lawyer says he will charge me for filing a paper with the court. Can I file this myself? ...

    Darcel’s Answer

    You need to discuss the decision to dismiss your Chapter 7 with your attorney. In order to voluntarily dismiss you ahve to Show Cause as to why the Court should grant your dismissal. A debtor does not ahve the unilateral ability to dismiss their bankruptcy once filed. Also, keep in mind that even if you do dismiss, hte bankruptcy is on your credit report adn will stay there despite the dismissal. It may be in your best interest to proceed with your Chapter 7.

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  • After Bankruptcy

    I filed Bankruptcy in Oct 2010. I received my discharged paper in Jan. 2011. This month my husband got a paper from the IRS saying we owe $1,ooo, because a w-2 was not filed and they send a letter to see if we agree or disagree. We agree with the ...

    Darcel’s Answer

    I'm a little confused of what your actual question is. But, if you're asking whether or my your 2010 tax refund is subject to your bankruptcy, from the facts you've provided, the answer is no. Since you filed back in October 2010, you were not entitled to a tax refund for the 2010 year until 2011. As such, your 2010 tax return is not an asset of your bankruptcy estate. You should be receiving your tax refund and it should not be witheld.

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  • Our bk case discharged 9/2009 filed 5/2009 mortgage was not reaffirmed. we wish 2 refinance. were told we must reaffirm first?.

    is this true? Chase holds our mortgage How do we start the process of reaffirming? Is it too late to reaffirm this mortgage loan?we received poor advice from our bk lawyer when filing. FHA evidently requires that we reaffirm loan before refi....

    Darcel’s Answer

    This is not true. First, debtors (at least in Washington) do not reaffirm debts secured by real estate. It just doesn't happen. If a debtor chooses, they can continue paying the mortgage after the bankruptcy, but that's it. Also, as the previous attorney noted, if you're refinancing this means that you are paying off your old loan with a new loan. As such, why would you reaffirm a debt that you will be paying off?

    It sounds to me as though there is a miscommunication somewhere.

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  • Can I add a lawsuit to my assets after I went to the creditor meeting? It was listed on the petition in a different section.

    The Trustee mentioned it should be in part B.

    Darcel’s Answer

    Yes, you need to list the asset in Schedule B and exempt it in Schedule C. You should do it immediately.

    Hope this helps!

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  • Are the rules governing credit union financing different than car co financing in a chapter 7 bankruptcy case?

    I have filed chapter 7 bankruptcy in NJ and had finaced a car through a credit union in Massachusetts. The credit union's collection dept has been calling me...aqe the rules governing credit unions different than the rules governing other types of...

    Darcel’s Answer

    Regardless of what state you file in or what state your creditor is in, once you file for Chapter 7 bankruptcy the Automatic Stay immediately goes into effect and your creditors cannot contact you to collect. You want to ensure that you properly listed them as a creditor. If you did, and they are violating the Automatic Stay, you should contact a bankruptcy attorney.

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  • Debts discharged in CH 7 including mortgages 1 & 2. Tried to keep paying but have fallen behind. Should I walk away

    Should I walk away from the house since 1st & 2d mortgages were discharged in CH 7.

    Darcel’s Answer

    As you may already understand, you are no longer personally liable for those mortgages. You can continue to try to make payments on the mortgage or continue living there without paying the lenders, but at some point they will eventually foreclose. If you vacate the property, you could be creating additional risks for yourself, as the house is still legally yours until it is repossessed by the lender. Either way, it would be in your best interest to ensure that the property has insurance. If your insurance payments were made through your mortgage payments, and you're not making those payments anymore, it's likely that the lender is not paying the insurance company and that the property is currently uninsured.

    You may wish to consult with an attorney in your area to receive California-specific legal advice.

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  • Notice of Sale

    ! week ago was my Thirty (30) days after the Notice of Default When can I expect a "Notice of Sale." and will it be taped to my door or mailed to me. I know a lot of people are in foreclosure but I live in a condo complex and I am not keen on my ...

    Darcel’s Answer

    It really depends on the lender. Some lenders will issue the Notice of Sale immediately after the 30 days have passed, others don't do anything for months. I've seen both scenarios. If and when the lender does decide to issue the Notice of Sale, it wille posted to your front door.

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  • No forwarding address for tenant

    Tenant vacated premises and per USPS, left no forwarding address. In order to comply with my obligations regarding return of deposit, how do I provide proper notice to tenant?

    Darcel’s Answer

    It is only your responsibility to send the secrity seposit to the last known address which in this case appears to be your property. Keep the mail, don't open it, and if and when the issue arises, you have proof that you complied with WA law.

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