Archived
Will a bank ever modify a mortgage loan after the mortgage has been discharged in a chapter 7 bankruptcy?
Ian's answer
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Answered on September 02, 2011
Oddly enough, the government's modification program specifically provided for modifications after discharge. As one of my colleagues indicated,...
Archived
I want to file Ch7 bankruptcy. Will the creditors go after my husband for the money if he is not filing?
Ian's answer
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Answered on August 19, 2011
The short answer is no. Being married does not create an obligation any more than being siblings or friends. If the debts are truly only in your...
Archived
What can I do about Bank of America continuing to harass me after Chapter 7 discharge 1/2010?
Ian's answer
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Answered on August 19, 2011
Assuming the bankruptcy was handled properly (BoA was the proper creditor and they received notice of the case, etc) and assuming you did not sign...
Archived
If the value of my sole prop. assets is > the ch.7 bankruptcy exempt amt, may I keep assets by paying trustee difference
Ian's answer
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Answered on August 17, 2011
This is actually one of my favorite questions from clients. The answer is that the Trustee has the right to sell of any asset they deem valuable. ...
Archived
Filing for BK Ch 7 before or after a money judgment, any difference?
Ian's answer
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Answered on August 17, 2011
Generally speaking, it is usually better to file for bankruptcy protection before a judgment is entered. Oddly, it is not the judgment itself that...
Archived
When you buy a new business, does the LLC transfer to your name? or do you need to apply for a new LLC?
Ian's answer
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Answered on August 06, 2011
It depends on how you buy the business. You can usually do either an "asset sale" or a "stock sale". Usually a buyer wants to do an asset...
Archived
We filed for bankruptcy Chapter 7 in 1994, the Bky was discharged in 1996, the original mortgage was with Washington Mutual whom
Ian's answer
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Answered on August 06, 2011
Attorneys have different opinions of the value of reaffirmation agreement. Most do not like them as they place the debtor back in a position of...
Archived
My husband purchased his parents home due to their bad credit. Will that affect our credit when his parents file for bankruptcy?
Ian's answer
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Answered on August 06, 2011
As long as you are not jointly responsible for the debt (and your post indicates that your are not), then their filing will not have any effect on...
Archived
My chapter 7 bankrupcy filing has forced an automatic stay in foreclosure proceeding, where I am merely the "fiduciary"?
Ian's answer
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Answered on August 06, 2011
The filing of any bankruptcy petition stays almost all action against you. Preventing a foreclosure is one of the most common reasons for filing a...
Archived
Past employer converted for Chapter 11 to Chapter 7. They owe me USD 5,500. What are my options ?
Ian's answer
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Answered on July 01, 2011
If the $5,500 was for wages earned within 180 days of filing, you will be considered a "priority" debt and get paid before most other unsecured...
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