Questions answered by Theodore Lyons Araujo

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Florida's Head of Family Exemption to Wage Garnishment

Theodore's answer | Answered on March 28, 2011

You may want to consider bankruptcy in order to get rid of the liability all together. When you file Bankruptcy you create a financial estate. ...

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On a judgement (writ), it states you may be able to get your property back if jewlery doesn't exceed 1800.00. Is this true?

Theodore's answer | Answered on March 28, 2011

The State of Oregon has exempted the property and income listed below from seizure by the bankruptcy court to pay creditors: Real Property: ...

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We have a flooring co. We are not being paid $1400 for work performed for a disaster recovery co. Send a pre-lien notice?

Theodore's answer | Answered on March 28, 2011

When deciding if you should sue someone there are two essential requirements. First, did the person who you think violated your rights have a duty...

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I reported my insolvency to the IRS on form 982 for tax year 2010. What form do I use to report insolvency to NY state?

Theodore's answer | Answered on March 28, 2011

This is correct. When you file the State return you are required to submit certian federal forms as well.

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I'm the person who bk'd 4 props (3 investments with a second on them). Thanks for the info on the taxability on debt bankrupted.

Theodore's answer | Answered on March 28, 2011

I tell my clients not to go through the short sale process because the only person who benefits is the realtor and the purchaser. My opinion? ...

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Can I strip my heloc on rental property if home value is more than 1st mortgage?

Theodore's answer | Answered on March 28, 2011

Contact a local attorney who files chapter 13's and they will be able to advise you as to the practice of the particular court.

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I lent a friend $120,000, what are my next steps to get it back?

Theodore's answer | Answered on March 28, 2011

When deciding if you should sue someone there are two essential requirements. First, did the person who you think violated your rights have a duty...

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Can my cash advances of over 175k mostly used in legal gambling estb. be disharged in ch.7? 2 local bk atty say it can be done.

Theodore's answer | Answered on March 28, 2011

Many courts consider gambling an addiction and there are a number of cases that allow for the debts to be discharged under that theory. Check with...

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Short Sale deficiency and two collection agencies

Theodore's answer | Answered on March 28, 2011

They can sue you even if you have a payment plan. Keep working through your attorney.

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I finished chapter 7 bankruptcy in 2005 and now need protection, will chapter 13 prevent jail for contempt?

Theodore's answer | Answered on March 28, 2011

Filing a 13 will not affect a criminal contempt citation, but check with a lawyer in your jurisdiction. While you must wait at least 8 years...

Theodore Lyons Araujo's Answers (8812)

Florida's Head of Family Exemption to Wage Garnishment

On a judgement (writ), it states you may be able to get your property back if jewlery doesn't exceed 1800.00. Is this true?

We have a flooring co. We are not being paid $1400 for work performed for a disaster recovery co. Send a pre-lien notice?

I reported my insolvency to the IRS on form 982 for tax year 2010. What form do I use to report insolvency to NY state?

I'm the person who bk'd 4 props (3 investments with a second on them). Thanks for the info on the taxability on debt bankrupted.

Can I strip my heloc on rental property if home value is more than 1st mortgage?

I lent a friend $120,000, what are my next steps to get it back?

Can my cash advances of over 175k mostly used in legal gambling estb. be disharged in ch.7? 2 local bk atty say it can be done.

Short Sale deficiency and two collection agencies

I finished chapter 7 bankruptcy in 2005 and now need protection, will chapter 13 prevent jail for contempt?