What Can I do if I have a legal hold on my BOA?: BOA suddenly placed a legal hold on my account on the 9th of January. I have called several times and they are not giving me any specific answers as to why my account balance is held, they only said my account is under review. it says Legal Order, LTS D01091800045
Shannon’s answer: Hey there, if you filed bankruptcy then BOA may have put an administrative hold on your account as of the date of filing. The bank will release the hold once the Chapter 7 trustee files his or her 'no asset' report at your meeting of creditors. This is not illegal for the bank to do. It's unfortunate however that this happened to you since it could have been avoided by taking your money out of BOA/stopping all direct deposits prior to filing. Provided your money is properly exempted, you'll ultimately get it back.
Can I have a bankruptcy removed from my credit report?: I was told there is a new law that was passed in July 2017 that states it is illegal to have a bankruptcy on a credit report and I can pay to have it removed. Is this true?
Shannon’s answer: Hey there I think that what you may be referring to is the change that credit bureaus put into place last summer where they would stop reporting certain judgements and medical debts on people's credit reports. Essentially this change by the bureaus means that creditors need to have met certain requirements before they can report a judgment. It means that judgments that don't meet these new requirements should have dropped off. But this is not related to bankruptcy filing--your case will continue to report for as long as 10 years, yes even after the debts that made you file drop off your credit report.
How long can the bankruptcy case stay open? can I sue the trustee?:
We filed Ch 7 Bankruptcy over a year ago. We have two houses. The Trustee claims that the Virginia house is worth $154,000, this is on the document he filed with the court and it states that he based that number on a comparative analysis. He signed this document but the line for the real estate broker to sign was blank. I spoke to his broker and he said he advised the trustee to list at $120,000 at most, but the trustee decided to go with $154,000. We owe $114,000. I had an appraisal done and it was $104,000. I think this is fraud. Selling this house will bring nothing to the estate. What can I do?
The trustee is dragging out our case and as we continue to pay the mortgage on our home in Georgia we are building up equity to the point where it will pass our exemption. He filed papers to sell it but never put it on the market. He also exaggerated the price on this house but had a realtor sign-off on the value. How long can he drag this out? My attorney says if we take formal steps to end this the trustee will file motions that would cost us more than we can afford in legal fees. He is also known for being vindictive and petty. I need a second opinion.
Shannon’s answer: I think I know the trustee you must be dealing with in this case. Yes, he can hold the case open. I hope that you have an attorney representing you --if not, it's not too late to hire someone to defend this asset. Lots of questions-first and foremost is whether you claimed the VA property as your homestead, whether it's one or both of you on the deed, and whether you used GA's exemptions or some other state based on where you were residing.