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Robert Charles Russell
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Robert Russell’s Answers

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  • IRS tax debt wiped out under Chapter 13?

    Took 401K loan for $20,000 3 years ago. We defaulted on the loan and now owe the penalties and taxes on the loan. IRS sent tax bill for $10,000. How would this debt work in Chapter 13?

    Robert’s Answer

    I agree with the above. I have added links to two quick articles that discuss the basic tax discharge rules.

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  • I recieved a notice of garnishment and your rights. Living in WA, head of household, 2 kids and parents, what r my exempt rights

    I owed a hosita bill of 2092.00. Collection company calling. I asked for payment plan which they refused. Recieved a notice of garnishment. I m single mother of two and taking care of disbaled parents. I make 2902 and 680 from state from parents....

    Robert’s Answer

    I have attached a link that provides a little information about bank account garnishments and what you can protect. It seems to me at this point that the funds you have in the bank are compensation subject to being garnished. (It is your compensation for taking care of them and not their money, right?) At this point, you can file a bankruptcy (fast) and stop the garnishment, file a bankruptcy within 90 days of the garnishment and recover the payments as an exempt preference (547), make a deal with them that results in termination of the garnishment or pay them in full. I will call a local attorney for a FREE CONSULT to get info. Good luck!

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  • Bankruptcy question

    I cosigned on a car that was repossessed. We are both now being sued for it. If the person who I cosigner for files for bankruptcy does the debt go away completely?

    Robert’s Answer

    No. Each party has their own liability. The non-filer is still obligated in full on the debt.

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  • Bankruptcy? I'm in Washington State and my home is to be sold at auction in a few weeks, i owe a second mortgage also.

    We only owe on second about 40,000, and no other debts, Due to medical issues we are losing home in a few weeks, should we even think about Bankruptcy prior to the foreclosure to maybe give more us time or is it too late, and would a bankruptcy ta...

    Robert’s Answer

    If the first creditor forecloses, you will remain obligated for the unpaid part of the second note. You might be able to make a deal with that creditor. You should look into a short sale. In many short sales, the 2nd position creditor will waive any unpaid balance. But you have to act fast. A short sale may save you for the need to file bk over the $40K 2nd note debt. But a bk and a short sale might extend the time in the home. Best of luck!

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  • Should I get a lawyer?

    My car was totaled in January of this year. My insurance company paid my lien-holder and I also had GAP insurance. My lien-holder is now trying to say that I still owe over $800 after the payments from my insurance and after my GAP. I was told at ...

    Robert’s Answer

    You might spend a few dollars and meet with a personal injury attorney. They have likely seen this issue before. One thing you are going to want to have is the "balance due" demand by the car creditor and the check and release sent by the insurance company. Possibly, the car creditor signed a release stating they had been paid in full. Good luck!

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  • I had a bogus judgment filed against me in 2007. bankruptcy discharged Aug. 25, 2008. They just re filed the judgment. can they?

    The judgment, (2007), was for something that they made up. it never took place. I file for bankruptcy and my debts were discharged Aug. 25, 2008. Now it's April 2015 and I am trying to buy a house. A new judgment from the same guy and the same law...

    Robert’s Answer

    If I read the question correctly, you did not have a home when you filed bankruptcy. You filed bankruptcy and the debt was discharged. After you filed bankruptcy, somehow their is "a new judgment" (?) by some unstated method which I presume if a renewal of the judgment (which must be done before 10 years from the date of the original judgment, etc.) Assuming this to be the case, the renewal is a violation of the post-discharge injunction of the bk. You should give them notice of the previous filing and ask them to enter a Satisfaction of Judgment or similar so that everyone knows the debt has been satisfied. If the won't, then you sue them in bk court for violation of the post-discharge injunction.

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  • Bankruptcy in WA state and homestead exemption

    how does bankruptcy and homestead exemption work? Its likely we will a judgment against a at fault driver in personal injury claim. While at fault driver does not have income he has home with is fully paid but the value of home is less than 125k. ...

    Robert’s Answer

    Under WA law, a person can exempt and protect from the claims of judgment creditors the first $125K equity in a home. A judgment can become a lien on real property, but it cannot attach to the first $125K equity. If a debtor with equity files bankruptcy and uses the WA exemptions, the debtor can remove any judgment lien on the first $125K equity.

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  • Should i file bankruptcy? i need advice

    when my ex wife and i separated, i moved out of the house. she stayed in the house, although she had no job or income, until the landlord evicted her. my name was on the lease and the landlord refused to remove my name and included me in the evi...

    Robert’s Answer

    If you file bankruptcy, the debt owed to the former landlord will be discharged. That may help you deal with new landlords in that some just want old judgments resolved. Some will still care. But, from a practical standpoint, if you have an enforceable judgment against you, you might get garnished and be unable to pay rent even if your want to do so. so, yes, you should take a look at filing.

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  • Can't buy new home cause didn't sign reaffirm of debt on current home. Finance co's wont talk to me even though credit is good.

    filed chapt 7 in 2009 and did not include mortgage. Have always made payments on time. Have dream home opportunity at a price that cannot be beat. Credit report shows that mortgage co. stopped reporting in 8/2014 (five yrs after filing). I called ...

    Robert’s Answer

    Not reaffirming a mortgage is the normal choice and, usually, the best choice in bankruptcy given that (1) many home are "under water" and (2) many states hold a homeowner liable for any post-foreclosure deficiency on the unpaid mortgage. As noted, I'd keep looking for a different lender. I know they exist from the comments of a past client that had the same issue. Further, this is a very common issue. I wrote a quick article on the subject attached below that might be of some assistance.

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  • In Washington state can a lender place a Lein on my SS or my government pension? I have a RV that l may have to turn back into

    The lender. I have tried get a lower rate of interest with no luck. Lender is Bank of the West

    Robert’s Answer

    This private party cannot garnish your SS. If you owed back taxes to the IRS, etc then you might have a concern. But this RV loan creditor cannot garnish your SS.

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