If I file chapter 13 Bankruptcy, is it required to notify secured creditors of bakruptcy?: I am filing for Chapter 13. I had a consultation, and have completed all the paperwork. The proposed plan had me paying 815 a month. This would be more than I owe in unsecured debts over 5 years. The secured debts are in there but under monthly expenses
Lesley’s answer: Yes, all creditors must be notified. Even if you are paying all of them outside of the plan. They are allowed an opportunity to object to the plan (and are more likely to do so than Unsecured creditors, but aren't likely to do so if their treatment hasn't changed from pre filing). The payment you make into the plan not only includes payments to unsecured creditors, but whatever you might still owe your attorney, and then the trustee's fee. Not all chapter 13s result in paying all of your unsecured debt. Reasons that might happen is if you make too much money to be able to justify paying less, or you cannot exempt all of your property and you need to pay that much into the plan to protect your non exempt property.
How can I craft a home offer contract with a prolonged closing period due to a buyer with a pending bankruptcy discharge?: My single-family home is currently listed for sale in WA. A potential buyer with an upcoming bankruptcy discharge is trying to make an informal offer stating they can make a actual offer 2 months from now (when they get their discharge). Is it possible to codify this in a prolonged contract now, rather than taking my house off the market with a mere good-faith agreement? What details / documents do I need to acquire from the buyer in order to augment the risk of this?
Lesley’s answer: I imagine you probably don't know, but if this person is in a Chapter 7 bankruptcy, it is highly unlikely this person would qualify for a mortgage with which to pay for your house at the time of discharge (assuming this is a traditional real estate transaction. In a Chapter 13 there may be a possibility that they have rebuilt their credit sufficiently to qualify for a mortgage once their case is over, especially if their trustee is one who reports the payments to their credit report (I've seen people qualify for mortgages to refinance during a Chapter 13 before, but that is rare). So, I think the real question you need to ask is "how is the discharge going to magically make it possible for this person to get the financing needed to purchase your house? Are they pre-qualified? Did they come into a bunch of money? I'd be hesitant to wait because the mere fact their old debt is discharged won't qualify them for a loan to purchase a house. If they have the cash laying around, how did they file a bankruptcy without losing that cash? Why do they need to wait for the discharge? How do you benefit from taking your house off the market based on a person's claim they'll have an offer for you down the road? It isn't your problem.
Yes I would like to know who filed bankruptcy on my name ?: I did not filed for bankruptcy
Lesley’s answer: First step would be go to pacer.uscourts.gov, set up a PACER account, and do a nationwide search for bankruptcies filed under your social security number. This is not free. They charge $0.10 per page, though I think if you incur less than a certain amount they will not bill you. If none come up, then none were filed. What COULD happen, though, is someone could have the same first and last name as you, filed, and even though they don't have the same SSN, it could've mistakenly been associated with your credit. In which case you need to dispute such an entry on your credit reports, with each reporting agency. I don't know the circumstances so I have no idea if that is relevant or not.