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My friend has an apartment that became coop so it worth now about $300 000 with no mortgage. She has credit card debts for $30K
Michael's answer
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Answered on March 13, 2017
Based on what you have stated your friend might benefit from Chapter 13. Although the Government imposes a 10% "fee", all debts are frozen as of...
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Bankruptcy
Michael's answer
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Answered on March 09, 2017
Sounds a bit like a prior question. You just need to close down the old business and open a new one. Bankruptcy is generally not necessary,...
Archived
Bankruptcy
Michael's answer
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Answered on March 08, 2017
You can, but you would be better off just having your accountant file a final tax return and close it that way.
Archived
Can you get any money back if you have paid a company that files Chapter 7 bankruptcy?
Michael's answer
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Answered on March 08, 2017
As my distinguished colleague has pointed out, you are unfortunately one more unsecured creditor.
Archived
Is it feasible to file chapter 7 pro se?
Michael's answer
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Answered on March 07, 2017
40k in debt is a lot of debt. If you don't file b7 the creditors will come after you. If you file Pro Se, you are making a BIG mistake.
Archived
Is this debt exempt from chapter 7 bankruptcy?
Michael's answer
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Answered on March 06, 2017
You may well have a claim of fraud against the debtor. The US Supreme Court just expanded the definition of "fraud" for non dischargeability purposes.
What my cousin should do in this case? She has a closed credit card account.
Michael's answer
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Answered on March 02, 2017
I would advise not to pay anyone except Citibank and even then make sure she owes them the money. Do not rely merely on a credit report.
Archived
How are your lawyer fees paid in a chapter 13?
Michael's answer
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Answered on February 27, 2017
Yes you can assuming the lawyer agrees to that arrangement.
Gambling Debt and Chapter 7 Bankruptcy
Michael's answer
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Answered on February 27, 2017
I really do not see any reason a 2000 bill from 1 - 2 years ago, especially at a Casino will impact your case at all.
Archived
Can I provide Bankruptcy information to a referee whom has been appointed by plaintiff?
Michael's answer
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Answered on February 22, 2017
Yes, of course. The referee has the right and duty to determine or verify how much is owed on the mortgage.
That does not mean that you are liable...
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