Archived
I just filed bankruptcy at the very end of last year, but i receive a 1099C , How do I file it since my case is not over yet.
Kevin's answer
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Answered on February 08, 2014
Not likely that you will owe taxes on the "forgiven" debt because your discharge is effective (when issued) as of the date you filed your case. ...
Archived
How should I calculate my net income from bankruptcy point of view and what will be my debt-to-income ratio?
Kevin's answer
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Answered on February 08, 2014
Based upon what you put in your question, you will have no problem qualifying for a Chapter 7. There is no debt/income ratio calculation. As with...
Archived
Reaffirmed auto loan in Ch 7 and trying to refi the loan. Finance company adding legal fees
Kevin's answer
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Answered on February 07, 2014
Yikes! You can rescind within 60 days (sec 524(c)(4). You can require them to have reasonable fees approved by the court (11 USC Sec 506). Lien...
Archived
How long does the debt hang over your head before you can rebuild it I have had a company to help me I payed installments for.
Kevin's answer
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Answered on February 07, 2014
You are the "poster child" for the warning by the Attorney General of Florida to avoid debt settlement companies. Find a local bankruptcy attorney...
Chapter 7 Bankruptcy: While listing household items value, should I list the purchase value or the current used market value?
Kevin's answer
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Answered on February 04, 2014
The question asks you to estimate what you can get for the property if you sold it at fair market value, not acquisition cost or replacement cost.
Archived
I'm broke. Is hiring a Bankruptcy Petition Preparer (BPP) better than doing it yourself?
Kevin's answer
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Answered on February 03, 2014
You are permitted to attempt to file and follow-through with a personal bankruptcy without the assistance of any professional or para-professional....
Archived
When filing a simple, basic Chapter 7 Bankruptcy, does the competency or cost of my attorney matter in the Courts decision .
Kevin's answer
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Answered on January 30, 2014
The discharge issues automatically unless you have done something to violate an applicable provision of the Bankruptcy Code. The talent of your...
Archived
How do I go By handling this situation very stressful, and my credit is very messed up due to this
Kevin's answer
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Answered on January 30, 2014
You have posted this in the bankruptcy section, in which you will find little comfort. Student loans are extremely difficult to discharge in...
Archived
My landlord filed chapter 7 , he held my deposit of $2200 ,what are my chances of getting my money back?
Kevin's answer
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Answered on January 29, 2014
Under Florida law (F.S. 83.49) the landlord had an obligation to either escrow the money or post a bond. The failure to abide by his legal...
Archived
If Church helps me out financially, do I have to disclose that as income while filing for bankruptcy?
Kevin's answer
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Answered on January 29, 2014
Yes, if you have to ask whether to disclose anything the default answer is always YES. This particular information goes on the Statement of...
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