Archived
We have small business S-Corp, & been going through a rough time 3 years now trying to keep up with business /personal creditors
Michael's answer
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Answered on June 21, 2011
No one can answer all of your questions without a personal consult. I strongly suggest you see a bankruptcy attorney in your area.
On the...
Archived
Do I owe credit card debt for my deceased husband's account. My name is not on the account. I had user privileges.
Michael's answer
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Answered on June 21, 2010
Credit card agreements are controlled by federal law, specifically the federal Truth in Lending Act ("TILA"). TILA states that the "applicant", the...
Can I bankrupt a divorce settlement?
Michael's answer
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Answered on June 21, 2010
That depends on what it is for. If it is for alimony, spousal support, or child support, the short answer is "no". The 2005 amendments to the...
Selected as the best answer
RE: writ of execution for debt collection.
Michael's answer
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Answered on June 18, 2010
As a rule, they can grab most things, including bank accounts, personal property, etc. That being said, judgment executions are state law...
Archived
Can the creditors seize my mom's furniture for my debt?
Michael's answer
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Answered on June 18, 2010
As a general rule, no. If it is, in fact, her property and not yours, if there is no lien on it from the plaintiff seeking to sell the property,...
Archived
Credit card debt in bankruptcy & divorce proceedings..
Michael's answer
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Answered on June 15, 2010
Under federal law, if you are the only applicant for those credit cards (if the agreement is only between you and the credit card companies), he...
Archived
Am I legally responsible for debt as an additional cardholder if the primary files for bankruptcy?
Michael's answer
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Answered on June 15, 2010
First of all: defend the action. If you do not defend, you generally lose, period. All the legal rights and defenses in the world mean nothing if...
Archived
Can a credit card company or its legal representatives gain access to your stocks and CD's upon legal judgement?
Michael's answer
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Answered on June 15, 2010
This depends upon the law in your state. In most states, a creditor can execute upon your savings and personal property. There may be exceptions...
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