I filed a Chapter 7 bankruptcy in 2014 my debt was discharged September 2014 . Included in the bankruptcy was my home, which was "co-owned with me and my father in New Jersey. Although I am no longer financially responsible I am aware that the...
I agree that contacting the FHA is the place to start. You can also discuss with a mortgage broker the issue with the FHA as well as other types of loans.See question
My husband and I took money out of our retirement plan to pay down credit card debt. However he has been injured and is unable to work for the next 8 months. We will need to use a good portion of that money to supplement the loss of income while ...
You can protect some cash in the bank account. It depends on various factors such as the amount of money and how much exemption is available. The amount of exemption available will depend on whether some of the exemption gets used up on other assets. I suggest you consult with a bankruptcy attorney to fully review your circumstances.See question
I want know how long it take when you file for bankruptcy chapter 7 like how many months it can last for
In addition, note that while it may take 4 months or so to receive a discharge, the automatic stay goes into effect immediately. As a result, lawsuits, collection calls and collection letters all stop upon filing even though discharge is not received until end of case.See question
I have,been separated for over a year. My husband is currently incarcerated and his divorce attorney quit for non payment. He left me with over 50k in credit card debt for 90% of purchases he made on my credit cards. He has not made any effort bef...
There are different ways to deal with creditors such as bankruptcy or attempting to negotiate settlements. More facts are needed to determine what is best in your circumstances but it would seem that bankruptcy might be a viable option. I suggest you consult with an attorney to determine your optionsSee question
My husband and I are both employed and we have roughly 6,000.00 active debt and terrible credit scores due to fighting foreclosure since 2009. What are our options for debt relief while maintaining the rights to our home of over 15 yrs?
New Jersey Bankruptcy Courts have implemented a program to streamline the process of obtaining a mortgage modification while in bankruptcy. Your ability to obtain the modification will depend on various factors, including your income and expenses. You should consult with an experienced attorney who can review your circumstances and explain all of your options.See question
I am recently a 39 year old widow. There is no life insurance. He has individual debt as do I , we have a mortgage that I am unable to pay monthly. I do work, but my salary is not enough to meet the mortgage and monthy expenses.
You do need to list all assets and debts. However you can keep your car and typically you will not lose assets. Court will look at equity in assets and income compared to expenses to determine if you can eliminate the debtSee question
I recently filed for Bankruptcy, 2 months later I got a letter on the mail saying that one of my creditors is challenging my case, using rule 2004 examination? Can anybody tell me what this is? Also, my attorney is asking for another substantial...
A creditor does have a right to take your deposition to determine whether your bankruptcy schedules accurately reflect your assets and to determine whether there is a basis to object to your ability to discharge their claim or all of your claims. Even when a bankruptcy is filed, you must still meet certain obligations before you can receive your discharge. The creditor's ability to object is somewhat limited, so just because they are taking your deposition does not mean in the end you will not be able to obtain discharge.See question
I have a friend that is in a situation, my brother is in over 26k personal dept with credit card company and other bills that are in collections. He is about 66K in dept including student loans. The major problem is he is in criminal court for "ba...
Your friend can file bankruptcy, but that does not necessarily solve his problems. It will not stop the criminal matter from going forward against him. Any award of restitution would not be eliminated in bankruptcy. In addition, the creditors that were defrauded can object to their claims being discharged in bankruptcy. It may be a circumstance where bankruptcy can be filed to eliminate some of the debts which will make it easier to address any claims that are not dischargeable. Your friend should consult with an experienced bankruptcy attorney to see if bankruptcy makes sense.See question
Beneficiary of 401a I'd I rollover to ilunherited Ira to
The ability to exempt an inherited IRA depends on whether it is inherited from a spouse or someone else. The Supreme Court ruled that an IRA inherited from a parent is not protected. However, since then several courts have said if inherited from a spouse it is protectefSee question
I have just recently bought a house (my parents are paying for it). It's in my name. It technically isn't mine yet because there is still a balance on the mortgage but I'm doing owner financing. I want to file for bankruptcy but scared they will t...
Owning real estate does not prevent you from filing bankruptcy nor does it mean you will lose your house. You are allowed to protect some equity in your home when you file a bankruptcy. Your circumstances raise some additional questions such as whether the mortgage on the house is in your parents names or whether they are holding the mortgage and if they are did they properly record the mortgage. I would suggest you consult with experienced bankruptcy attorney to determine whether bankruptcy would work for you.See question