I am 65. My sole income is 1200 per month social security. I have lived in fl for six months. 1. My fiance and i are buying a condo in florida this month. Can i protect my half interest in the condo? 2. Before florida i lived in new work fo...
Will there be any down payment on the house? Are you making a down payment? If not, why are you now being placed on the title? There are many issues to discuss, and you should contact local attorney to discuss your situation. You can discharge auto accidents. Student loans are difficult to discharge and the bankruptcy proceeding would be complicated to discharge student loans.See question
I have some old credit card debt and old loans that I was unable to pay during my divorce. It has been between 5 to 10 years and it is still effecting my credit.
You have a right to send a dispute letter to correct errors on the credit reports. Negative items can remain on the credit report for 7 years, so items that are older than 7 years can be disputed.See question
I know they are about to file the Motion, and I do need to file the Amendment, but I am just wondering if by any chance it would prevent them temporarily from filing their Motion to Lift Automatic Stay?
Filing an amendment to the petition or to the bankruptcy schedules would not have any affect on the ability of a creditor to file a motion for relief from the automatic stay.See question
What if I also don't reaffirm the mortgage either, can I still file for the homestead exemption? I read the Trustees will sometimes do a "carve out" and short sale a house even if there isn't any equity, by getting the 2nd. mortgage to settle for...
The chapter 7 trustee cannot try to sell your home even with a carve out if you use the homestead exemption; the trustee can sell and try a carve out if you do not claim homestead. If the home value is worth less than the balance of the first mortgage, you can strip off the second mortgage in a chapter 13 bankruptcy. You can try to use the mortgage mediation program adopted in the southern district of Florida in either a chapter 7 or 13. Many mediations successfully result in a modification.See question
My home is underwater with two mortgages. But I hope to either get a Modification or Settlements. Since I don't know what is going to happen yet, should I go ahead and take the Homestead Exemption just in case? Is there any other reason I would...
If you do not take the homestead exemption, the bankruptcy trustee can try to sell your home and find an investor on a short sale. However, if you do not want to save the home, and if you do not take your homestead exemption, you can protect an additional $ 4,000 in personal property ($ 8,000 husband and wife). This exemption in Florida can protect an asset such as a car from the chapter 7 trustee. You should consult an attorney about your options.See question
One question, i have a foreclosure case and four months after the case started i got a personal injury case settled, i was adviced to file bk seven because the bank do not accept a payment for the arrears, they called my settlement to be hypot...
I am not clear from your question if you have already filed bankruptcy-it appears you have not. An accident settlement is an asset that is not exempt from creditors. If you use the funds to buy another home, the bankruptcy statute gives the power to the chapter 7 trustee to go after your home since you did not use the funds to pay your debts.(Do you have debts other than your mortgage?) You need to consult with a local bankruptcy attorney to discuss all of the details of your situation.See question
My husband needs to file bankruptcy due to our business that we closed. He had some personal guarantees with several business accounts. We own two homes. The deeds in both homes are in both of our names. The mortgages are only in his name though.
Did you jointly sign personal guarantees? Florida law protects husband and wife property that can be properly classified as "tenants by the entireties". Tenants by the entireties property is protected against individual debts of one spouse. The property is not protected as to joint debts. You also can protect homestead property from unsecured debts. You should review these matters with an attorney.See question
My Chapter 13 was dismissed, before confirmation. I had been sending payments to the trustee for almost a year. I understood that the funds were suppose to go back to the debtor, if the case was dismissed before confirmation. This didn't happen. T...
Your case might have had a "vesting" order so that payments for your mortgage in the plan would still be paid to the lender due to delays in confirming the case. I am assuming your case involved a mortgage and that is why it took so long, though that might not be the case. Disbursement of funds held by the trustee has become an issue based on a Supreme Court decision and a new local rule pertaining to funds held by the trustee when a case is dismissed.See question
My husband and I are in the middle of a divorce. I plan to file bankruptcy after the divorce to get rid of a large amount of credit card debt.
Your question is a bit unclear with the terms you used. One issue is the obligation to pay. If the person who is obligated to pay files a chapter 7, that obligation to pay is not discharged or eliminate. If the person who receives the alimony files bankruptcy, then the issue is whether the trustee has a claim on taking the alimony that you have received. Florida law does utilize the federal bankruptcy exemptions as to alimony, which protects alimony "to the extend reasonably necessary for the support of the debtor and any dependent of the debtor". There is also an issue whether the lump sum alimony is actually alimony instead of a really a property division or equitable distribution, which is not protected.See question
I have a ton of debt from medical/ hospital bills. My credit is horrible. Im getting married in a month and I'd like to file bankruptcy this year.
Your creditors cannot recover from your husband. He is not responsible for your debt. It might make sense to file bankruptcy if you can prior to getting married because your household income will need to be listed. Note that if you are married when you file bankruptcy, your husband's income must be provided because your household income and expenses will be reviewed with the court. (There may be some ways of managing this issue, such as showing what he spends on matters that are not directly related to your household).See question