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Bankruptcy / Debt Legal Answers (313 found)

  • Bankruptcy / Debt
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Debt - Can I be jailed for not paying a debt (credit card bill)?
Washington. Posted 8 months ago in Bankruptcy / Debt.
Lawyer's answer: You can't be jailed for not paying a debt. But you could be put in jail, at ...

Lawyer's answer: We did away with "debtor's prison" in the 1700's in this country, but every so ...


Collections limits - I received a letter from a collection agency in the amount of $451.00. This is a credit card bill from 1992. Is there a statute of ...
Washington. Posted 8 months ago in Bankruptcy / Debt.
Lawyer's answer: Welcome to the world of collateralized debt obligations! In WA, a debt is stale ...

Lawyer's answer: I am not a Washington attorney so I would suggest you ask a Washington attorney ...


Collections - We owe money to a landscaper which, without any notice has turned our account over to collection. We were not given opportunity to settle ...
Washington. Posted 8 months ago in Bankruptcy / Debt.
Lawyer's answer: Most likely it is legal.

Lawyer's answer: If the debt is owed, then a creditor can assign the debt to a collection agency....


Co-signing a loan - I co-signed a loan for a friend's automobile. I just found out that payments were not made and the vehicle was repossessed. Will this ...
Washington. Posted 8 months ago in Bankruptcy / Debt.
Lawyer's answer: As a co-signer, you are liable for the loan. If the vehicle is repossessed and ...

Lawyer's answer: In addition to Shane's answer, I would add that you should look at the contract ...


Collection agency - Can collection agencies take money out of my bank account?
Washington. Posted 8 months ago in Bankruptcy / Debt.
Lawyer's answer: In some circumstances, collection agencies can indeed take money out of your ...

Lawyer's answer: Shelly's answer is absolutely correct, and I just want to add two addenda: 1) A ...


credit card debt - I got out of college and when I got my first job I went crazy with the credit cards. I now owe over as well as over $60K in student loans. ...
Washington. Posted 8 months ago in Bankruptcy / Debt.
Lawyer's answer: It is inappropriate to give bankruptcy advice without first giving important ...

Lawyer's answer: The bankruptcy laws for student loans are quite complex, and you should seek ...


affect on record - If I file a bankruptcy, can I ever buy a home? How long does the bankruptcy stay on my record?
Washington. Posted 8 months ago in Bankruptcy / Debt.
Lawyer's answer: As the previous answers noted, the bankruptcy can only be reported on your ...

Lawyer's answer: There are studies out there that show that a persons credit score actually ...


which kind of bankruptcy to use - I have heard there are lots of kinds of bankrupties. How do I know which one to use? Are there different kinds for ...
Washington. Posted 8 months ago in Bankruptcy / Debt.
Lawyer's answer: Thanks for your question. It's a good one, and there are a number of angles to ...

Lawyer's answer: The most common forms of bankruptcy for individuals are Chapter 7 and Chapter ...


will they take my house away? - My home is in foreclosure but I do not want to lose it. If I fila for bankruptcy, does the court take it away?
Washington. Posted 8 months ago in Bankruptcy / Debt.
Lawyer's answer: Without knowing the exact circumstances, including the value of your property, ...

Lawyer's answer: If you want to keep your house in bankruptcy, you will either have to get ...


affect on credit rating - What effect does a bankruptcy have on my credit rating?
Washington. Posted 8 months ago in Bankruptcy / Debt.
Lawyer's answer: In fact, a bankruptcy is bad for your credit rating, but you will likely be ...

Lawyer's answer: While a bankruptcy can hurt your credit score in the short term, it gives you a ...


business bankruptcy affect personal assets? - I own a small business which is not doing well; I don't know if I can make payroll. If I file for bankruptcy ...
Washington. Posted 8 months ago in Bankruptcy / Debt.
Lawyer's answer: Most small business owners are required to sign personal guarantees for credit ...

Lawyer's answer: Your business bankruptcy case can impact your personal assets, and will likely ...


threatening bankruptcy - I am a sub-contractor. The contractor tells me that if I try and make him pay me what he owes me by suing him, he will file for ...
Washington. Posted 8 months ago in Bankruptcy / Debt.
Lawyer's answer: Unfortunately, probably so. When a creditor files bankruptcy, unsecured ...

Lawyer's answer: The facts outlined in your question are too few and too general to permit a ...


collection agencies continue calling - I filed for bankruptcy last year, but collection agencies are still calling me trying to get money from me. What can ...
Washington. Posted 8 months ago in Bankruptcy / Debt.
Lawyer's answer: If you filed and properly completed bankruptcy, you should receive a discharge. ...

Lawyer's answer: To add to the previous answer, you should put the bankruptcy information in ...


Un-do bankruptcy? - After declaraing bankruptcy, my aunt died and left me enough money to pay my debts. Is it possible for me to pay them and get the ...
Washington. Posted 8 months ago in Bankruptcy / Debt.
Lawyer's answer: Any inheritance you receive within 6 months’ of filing is property of the ...

Lawyer's answer: Your question really seeks legal advice that is impossible to give in a public ...


IRS debt - If I declare bankruptcy, will my debt to the IRS be erased too?
Washington. Posted 8 months ago in Bankruptcy / Debt.
Lawyer's answer: very generally speaking, the answer is no. The government makes sure they take ...

Lawyer's answer: Your question really seeks legal advice that is impossible to give in a public ...


wife declares -- will it affect me? - My wife and I are separated, and she told me that she is planning to delare bankruptcy because she cannot pay her bills....
Washington. Posted 8 months ago in Bankruptcy / Debt.
Lawyer's answer: To the extent that you are joint with her on any loans, the creditors will be ...


re-organization - My business is in trouble and I don't know what to do. I have always paid my bills on time but now it seems I am always playing catch-up. ...
Washington. Posted 8 months ago in Bankruptcy / Debt.
Lawyer's answer: A Chapter 11 bankruptcy can give a business an opportunity to refocus its ...

Lawyer's answer: I assume you have already talked to your vendors to see if they can give you ...


who calls the play - I would like to file for bankruptcy for my business and use the process to pay off my most loyal suppliers and vendors. I am worried ...
Washington. Posted 8 months ago in Bankruptcy / Debt.
Lawyer's answer: Yes. Bankruptcy statutes set forth what creditors are entitled to get paid and ...

Lawyer's answer: Yes, bankruptcy sort of takes the division of assets out of your hands.


can I lose it all - If I file a bankruptcy, do I get to keep any of my money or does it all go to pay my creditors?
Washington. Posted 8 months ago in Bankruptcy / Debt.
Lawyer's answer: If you file for bankruptcy, certain assets are exempt. Have a look at www....

Lawyer's answer: Bankruptcy is designed to give a debtor a fresh start, and to stay or ...


what can I keep - If I declare bankruptcy, can I keep the home entertainment system I am making payments on? Can I keep the car I have a loan on?
Washington. Posted 8 months ago in Bankruptcy / Debt.
Lawyer's answer: It depends. Many times, if you are making payments and you are current, you ...

Lawyer's answer: As to the home entertainment system, review the agreement you entered into when ...