Bankruptcy and LLC

Often the loans of a small business are personally guaranteed by the individual owner. In addition, whether the business and the individuals or...

I filed for bankruptcy Chapter 13 in 2007, 2008 and 2009. All of them were dismissed for various reasons. I now need to file

As a general rule, you are not prohibited from refiling. However, your case will be scrutinized to make sure the filing is in good faith. You...

Lien Stripping

Lien stripping can be used in bankruptcy to eliminate certain liens where the collateral does not have sufficient value to secure the lien. Various...

What happens if I tell the bankruptcy trustee, under oath at the 341, that I did not read the chapter 7 petition before signing?

If your question is the result of a review now that reveals an inaccuracy, you need to inform your attorney so that appropriate amendments can be...

When filing chap 7 how long do you half to wait in order to make a purchase on a loan

Generally it is up to the creditor. Often a debtor that has received a discharge can obtain a car loan right away. It will typically be two years...

What is a 1099c and how can it affect you in a shortsale

When a creditor forgives a debt, in certain circumstances the amount forgiven can count as income. If you have filed a bankruptcy and obtained a...

You should also be aware that the liability of both spouses depends on the nature of the debt. If your spouse is merely an authorized user and did...

Bankruptcy 3 years ago & now a lawsuit pending against cigna for disability benefits. Does lawyer have to reopen bankruptcy?

If the claim arose prior to the time the bankruptcy was filed, it should have been listed even if a suit had not been filed at that time. There are...

I declared bankruptcy in 2010.because i have not worked,i need to again..can i declare again???

As previously answered, your options depend in part on the kind of bankruptcy previosly filed. Also, note that a Chapter 13 can be filed if needed,...

I have a 2003 judgment against me for $14,000 and I have other debt also so will filing bankruptcy get rid of judgement

Bankruptcy typically can eliminate the liabilities and the judgment, as long as certain criteria are met. Equity in assets and income compared to...