Archived
How long can you stay in your house and when should you leave the house after filing bankruptcy due to foreclosure?
Michael's answer
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Answered on April 25, 2016
Yes you can but you are better filing sooner and saving your money for the future.
Archived
Would filing for bankruptcy protection for my LLC benefit from the unpaid loan? Can the creditors reclaim my $40K investments?
Michael's answer
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Answered on April 25, 2016
One more time?
IRAs are totally exempt from creditors in New York.
Archived
In the event of filing for bankruptcy, what happens to US or overseas loans I gave out from personal bank a/c?
Michael's answer
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Answered on April 25, 2016
I believe this is the same question as asked previously but in more detailed form.
That said, the LLC has no need to file bankruptcy. You do not...
Archived
Is filing for Chapter 7 a viable option to clear the debts and save owner's personal assets under state or federal exemptions?
Michael's answer
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Answered on April 24, 2016
You can have your accountant file a final tax return for the LLC and as long as you did not personally guarantee any of the debts of the LLC, you...
Archived
Hypothetically if the LLC was to file for a bankruptcy, would it impact personal investments and/or assets overseas?
Michael's answer
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Answered on April 24, 2016
The 50k was an asset of the LLC and if it was sent as a gift it is a fraudulent conveyance. If it was sent to make an investment in its own name...
Archived
What percent am I entitled to after my lawyer sues, and reaches a settlement with collection co.?
Michael's answer
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Answered on April 20, 2016
There is no contingency fee arrangement in most bankruptcy cases. Lawyers are generally paid by the hour for their time they work. Of course...
Archived
Not for profit formation and student loans
Michael's answer
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Answered on April 20, 2016
This really sounds like a brilliant too good to be true move that if were allowable everyone would do it.
Archived
Will he be held responsible for my past debts? Can collections come after his money just because we will share an address?
Michael's answer
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Answered on April 13, 2016
Got to love the advice from Dad.
He is not under any circumstances that you have given, responsible for your debts.
Archived
What is a default hearing???
Michael's answer
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Answered on April 12, 2016
You MUST get your lawyer to give you a satisfactory answer.
M.
Archived
When the bankruptcy 13 process is complete? At the approval of the plan or at the end of the last payment made/completed?
Michael's answer
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Answered on April 09, 2016
Neither. The process is complete after the Court issues an order stating that the case has been closed.
