Lara M. Gardner’s Answers

Lara M. Gardner

Vancouver Bankruptcy Attorney.

Contributor Level 4
  1. Can a Ch. 7 BK Trustee take money or other non exempt assets to pay mortgage debt if I retain the property?

    Answered over 1 year ago.

    1. William James Waters
    2. Michael Raymond Daymude
    3. Carl H Starrett II
    4. Brian Crozier Whitaker
    5. George Robert Roles
    6. ···
    7 lawyer answers

    Just because you have more assets than are covered by exemption does not mean you can't file for bankruptcy; it just means you may turn over some non-exempt assets. However, if you file and you have non-exempt assets, the trustee distributes them to creditors who file allowable claims. It would be the trustee's job to determine whether the mortgage deficiency is an allowable claim. The tax consequence is a separate issue. If you are going to file bankruptcy anyway, then don't short sell before...

    6 lawyers agreed with this answer

  2. Can new mortgage "servicer" (Ocwen as of Sept 2013) file for relief on Chpt 7 bankruptcy DISCHARGED over TWO years ago?

    Answered 7 months ago.

    1. Lara M. Gardner
    2. James D. Wade
    3. Matthew Scott Berkus
    4. Jonathan Stone
    5. Robert J Adams Jr.
    5 lawyer answers

    All the request for special notice means is that they'll get electronic filings. It doesn't hurt you or affect your rights in any way. They have to file it under the proper format; it has nothing to do with trying to "scare" you. Under the code, if your case is still open, even if you have your discharge, and the lender wants to proceed to reclaim the property, they have to file for relief from the stay. This allows them to proceed to reclaim the property, not to collect from you. Just...

    Selected as best answer

  3. I have a second home in Michigan that is about 80k underwater. Keep treading water, pursue Deed-in-Lieu or Chapter 7 Bankruptcy?

    Answered about 1 year ago.

    1. Lara M. Gardner
    2. Alan D. Walton
    3. Diane L Gruber
    3 lawyer answers

    In most states, you are protected from liability on a first mortgage on your residence through anti-deficiency statutes. Because this is not your primary residence, such statutes would not protect you if you do not pay the full mortgage, through whatever process, either foreclosure, short sale, or deed in lieu. This means you are at risk. Even if you were to get forgiveness from the lender, you could be stuck with tax liability on the forgiven portion. This leaves chapter 7 as one of the only...

    3 lawyers agreed with this answer

  4. Is the amount of debt we owe substantial enough to consider bankruptcy?

    Answered 7 months ago.

    1. Tim L Eblen
    2. Lara M. Gardner
    3. Jonathan Stone
    4. Gary D. Bollinger
    4 lawyer answers

    Whether or not you have enough debt to file or not really depends on your specific circumstances and what you can put up with. One person may not think $8000 is enough, while another might see that as more than enough. Everyone's tolerance level is different. I encourage potential filers to examine their situation from an economic perspective rather than a moral one, making their decision based on what it would take to get themselves out of the situation without bankruptcy versus what life...

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  5. Chapter 7 was discharged recently. Jeweler with un-reaffirmed secured debt is demanding I pay or return the items I purchased.

    Answered over 1 year ago.

    1. Brian Crozier Whitaker
    2. David Lawrence Gibbs
    3. Brad Francis Weil
    4. Paula Brown Sinclair
    5. Walter C Oney Jr
    6. ···
    8 lawyer answers

    If you no longer have the items, then the creditor may not require payment from you. Cooperate with them in attempting to locate the items, but you have no liability. The jeweler may not sue you; it is a violation of the discharge injunction. If they wanted to sue, the time to do so was during the pendency of your bankruptcy case. There are certain instances when they could move to reopen your case and litigate the issue, but it is highly unlikely they will do this or that they would be...

    4 lawyers agreed with this answer

  6. Friend's son, disabled on SSI- WA state, recently had his small SSI check garnished for school debt. He had gone to college...

    Answered about 1 year ago.

    1. Lara M. Gardner
    2. Matthew C Albrecht
    3. Dorothy G Bunce
    3 lawyer answers

    Student loans are near impossible to discharge in bankruptcy. While many people are aware that they can have their wages garnished to repay the loans, many don't realize Social Security can be garnished too. The government can take as much as 15 percent of your disposable income when garnishing. A common issue with this policy is what the government perceives “disposable income” to mean. To the government, income is disposable if it doesn’t go toward a mandatory deduction. So when you read “15...

    1 lawyer agreed with this answer

    1 person marked this answer as helpful

  7. Can a creditor sell your debt after bankruptcy?

    Answered about 2 months ago.

    1. Andrew M Ellis
    2. Michael Byk
    3. Dorothy G Bunce
    4. Lara M. Gardner
    5. Alan D. Walton
    6. ···
    7 lawyer answers

    The creditor can sell it if they want to, but the buyer cannot collect on it. If it's being reported inaccurately to the credit bureau, then you should dispute the item and note that the debt was discharged in bankruptcy. The credit bureau may report the account, but it should note the debt was discharged. If you dispute and they will not note it properly, then you may have a cause of action against the credit reporting agency. If this is the case, you'll need to speak to a consumer attorney in...

    3 lawyers agreed with this answer

  8. I filed my chapter 7 bankruptcy. After 341 meeting, I received a lettter from the court that stated my case will be discharge

    Answered over 1 year ago.

    1. Mikalah Liviakis
    2. Patrick Begley
    3. Dorothy G Bunce
    4. William Joseph Kopp Jr.
    5. Lara M. Gardner
    6. ···
    7 lawyer answers

    Your discharge date is on your notice and is 90 days from filing, regardless when your 341 hearing was held. Go to your notice to determine the discharge date. Your notice should arrive within 2 weeks of that date. If it hasn't, call the court.

    3 lawyers agreed with this answer

  9. WOULD IT BE BETTER TO FILE BANKRUPTCY AND THEN FILE FOR DIVORCE OR THE REVERSE.

    Answered 7 months ago.

    1. Christopher Palmer
    2. Robert J Adams Jr.
    3. Diane L Gruber
    4. Lara M. Gardner
    5. Gary D. Bollinger
    5 lawyer answers

    Generally bankruptcy should come prior to divorce as there are obligations that may not be fully dischargeable after a divorce is final. There are some minute exceptions to this, but they are unusual. Most bankruptcy attorneys offer free consultations. Consult with one first and then you will be able to make an informed decision.

    1 lawyer agreed with this answer

  10. Loan Modification after Chapter 7 discharged?

    Answered 7 months ago.

    1. Robert J Adams Jr.
    2. Jonathan Stone
    3. Lara M. Gardner
    4. Dorothy G Bunce
    4 lawyer answers

    11 USC § 524(c) sets forth the law regarding reaffirmation agreements in bankruptcy. Specifically, the provision requires that any reaffirmation agreement be approved and made prior to a debtor’s discharge. This means that while lenders may modify your current loan, they may not create new liabilities on the same loan if there was not a validly filed and approved reaffirmation agreement. To do so would thwart the bankruptcy code provision regarding reaffirmation agreements. If you are...

    1 lawyer agreed with this answer

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