You are eligible for chapter 13, which is a three to five year payment plan. The payment is based on what you can afford to pay, and at the end, the balances are discharged. Talk with any decent bankruptcy lawyer, or read up on how chapter 13 works on some law firm websites. You have a solution to this problem. Good luck!
It is difficult to predict in advance, but it is likely that if you file a partial repayment chapter 13 case, you will be able to discharge the PayPal debt. Your best course of action is to meet with a bankruptcy lawyer as soon as possible.
The FDCPA requires that a creditor for a consumer debt sue you in the county in which you live. If you had moved prior to service of the summons and complaint, you may have a defense that stops their case.
From what you say, you likely could file bankruptcy in either the state you live in now, or the state you moved from. It might be better to simply do that.
You ought to hire a bankruptcy lawyer who knows the basics of family law, and who can get this done for you. The fact is that you should talk to your bankruptcy attorney about how to get this done. If he or she doesn't know the answer, find a different bankruptcy attorney to represent you.
Talk with a CPA -- you might not owe any tax for this, but talking with a CPA is the only way to know. You could also talk with a tax lawyer, but that might be overkill.
A chapter 13 filing will allow you to keep your home, by giving you five years worth of time to catch up on the payments. A chapter 7 won't help you, unless you no longer want to keep the home. Look at my website for more information about how chapter 13 works, and for more information about bankruptcy in general.
A reaffirmation is generally not advisable, and you are still able to keep the property without one. You just need to keep paying the mortgage. Your lawyer did nothing wrong. Reaffirmations are pushed by banks in order to hurt unsuspecting consumers -- they are not a good idea, and you don't need one.
In thirty years of practicing law, I have never seen a more ideal candidate than you, dear lady, to file chapter 7 bankruptcy. Please contact a bankruptcy lawyer right away, so you can eliminate your debts and get on with your life. Thank you.
Yes, you can, and this is because the bankruptcy code places no limit on the number of times or frequency of filing chapter 13. However, you can't get a discharge if your chapter 13 is filed within four years of a prior chapter 7,
If you filed your chapter 7 before October 17, 2005, then your FHA mortgage can still be assumed. If on or after October 17, 2005, the answer depends on whether the mortgage contains a clause that states that filing bankruptcy constitutes a default, AND a clause that states that the mortgage cannot be assumed if it is in default status. This due to the 2005 Bankruptcy Reform Act, which amended the law to allow bankruptcy default clauses.
Even if your mortgage contains the two clauses referred to above, you might still have a chance if you are prepared to argue that Minnesota consumer protection laws forbid a mortgage from being declared in default if the payments are current, or if the servicer comes to the same conclusion on its own, or if the servicer just doesn't care.