You have a deficiency issue with your underwater property but you also have a potential tax liability if the commercial lender cancels or forgives...

Is it true, that a trustee can take money I recieved from my divorce decree after I filed for chap 7.

This question goes to the heart of a bankruptcy case, which is protecting assets of the debtor by utilizing either the state or federal...

Self employed professional. Lost major client during recession. Used credit cards and lines of credit to carry on.

You should find comfort in the fact that most debts "CAN" be discharged in bankruptcy. Contrary to popular belief, the bankruptcy laws are very...

If I file bankruptcy does that also include taxes from IRS and state?

You need to do a comprehensive tax analysis to determinate the dischargeability of federal/state income taxes. It begins with providing your...

I am thinking about stopping my credit card payments, I am swimming in debt and can not stay afloat!

It's best to contact an attorney offline and discuss your finances to see if you qualify for chapter 7 or chapter 13 bankruptcy relief.

What kind of lawsuit can be filed on a mortgage co that has provided me with 4 different payment amounts

Dear Homeowner, The answer to your question is addressed in RESPA. The Real Estate Settlement Procedures Act (RESPA) ensures that consumers...

I am in Ch13 and considering getting my second mortgage stripped. How far underwater does 1st need to be for this to happen?

Lien Stripping allows you to get rid of a 2nd Mortgage if the home securing the 2nd Mortgage has depreciated to the point where the home is worth...

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Is it possible to remortgage a home that has gone into foreclosure?

Generally, home owners file a Chapter 13 bankruptcy to save their home and a Chapter 7 bankruptcy to walk away. I need to know your parents...

I am Self Employed trying to figure out my income for Chapter 7.

It's September 4, 2014 so I would ask to review your paystubs for March, April, May, June, July, August. The bankruptcy means test evaluates...

I am looking for advise on how one files for bankruptcy in PA for an S Corp with only 2 shareholders

It's true, only individuals can obtain a discharge of debt under Chapter 7 or Chapter 13 of the US Bankruptcy code. See Section 109 - Who May be a...