What impact does a chap 7 bankruptcy have on my business?

Any interest in business must be listed. Your membership interest in the LLC must be disclosed under penalties of perjury. A separate question is...

In Chap 7 bankruptcy, if I state I owe an unsecured creditor $300 when I owe them $500, does that mean $200 won't be discharged?

The creditor is listed and received notice of the bankruptcy. The entire debt will be discharged even if you do not list the correct balance. ...

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A discharge is usually received soon after the 60 day deadline from the meeting of creditors. This is the deadline for trustees and creditors to...

What happens to the balance remaining after a credit card debt settlement? Is it reported to IRS as income.

Forgiveness of debt creates taxable income. Surprisingly, the "earnings" are your savings when a debt you owe is reduced. However, there is an...

Can I be sued for HOA fees after being discharged from debt in 2009?

HOA and condo fees can be a trap without a full understanding and proper advice. The owner continues to be responsible for all association fees...

I FILED A CHAPTER 7 BANKRUPTCY 6 MONTHS AGO (Business) AND TRUSTEE FILED A MOTION FOR EMPLOYMENT OF ATTORNEY

The chapter 7 trustee in some cases will hire an attorney. The hiring must be approved by the court, which is routine. The attorney will only...

Is it customary for credit cards companies to go after your car if they get a judgement?

Judgment creditors sometimes pick up the car, though not typically. But there is a risk and no guarantees can be made. However, there is also a...

Should I complete fact summary sheet and forward to creditors attorney or file for bankruptcy.

You might certainly want to decide to file bankruptcy. As for the Fact Information Sheet, keep in mind that you have a deadline to provide the...

In filing a Chapter 13 bankruptcy is there any calculation of equity from assets as there is in a Chapter 7 filing?

In a chapter 13 a debtor would have to pay at least the amount of the value of the assets that the debtor would lose or would have to pay to the...

Filling for bankruptcy but have a mortgage loan with a co-borrower?

As a Fort Lauderdale chapter 13 attorney, I can tell you that the co-borrower situation can create some issues which might or might not be a...