What happens if an LLC files Ch.7 bankruptcy after settling debts with some (but not all) creditors whose interests are aligned?
Julianne's answer
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Answered on November 26, 2017
First of all, an LLC cannot receive a 'discharge". Only individual debtors receive a discharge in bankruptcy. If you file Chapter 7 for the LLC, a...
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Can I object to a $25,000.00 settlement, as an unsecured creditor, reached between the debtor and the bankruptcy trustee ?
Julianne's answer
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Answered on November 26, 2017
Your recitation is vague. Is the broker the debtor here? Assuming that is what you are saying, the trustee has discretion to reach a settlement,...
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Im a debtor in a converted chapter 7 from an 11. Why is the Trustee the plaintiff now in my adv case against a creditor?
Julianne's answer
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Answered on November 26, 2017
You ARE an outsider. Once you convert to Chapter 7, your financial affairs, including actions against third parties, are now the province...
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I will be getting a yearly bonus not long after I file for bankruptcy. Will I be allowed to keep it?
Julianne's answer
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Answered on November 21, 2017
In Chapter 7, post petition earnings are not property of the estate, unless as of the date of filing you know or should have known of the exact...
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How does my ex husband going bankrupt affect my home ?
Julianne's answer
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Answered on November 17, 2017
The fact you do not provide is whether you signed the note. His filing should not in and of itself trigger an acceleration if you are a codebtor on...
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How how do I keep my equipment that I?
Julianne's answer
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Answered on November 06, 2017
This raises a multitude of questions. Did your grandfather own them or were they owned in an entity? Did he have a will, and devise his possessions...
How does a chapter 13 trustee determine if we are able to buy a home during our plan?
Julianne's answer
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Answered on October 25, 2017
The issue may be less with your trustee, as my compatriots point out, as it will be with your mortgage eligibility. If you did not already tell...
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Spoke with a BK atty. Why didn't they ask me how much debt im in? Stated we want to see if you qualify before we ask your debt.
Julianne's answer
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Answered on October 25, 2017
A fundamental issue is whether you would pass the means test. If you don't then your filing a Chapter 7 could be a presumptive abuse of the...
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After my portion of the chapter 7 is close how long does the trustee have to keep her portion of it open to go after a surplus ?
Julianne's answer
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Answered on October 23, 2017
Trustees have two years to administer a case and file actions to collect known assets . After the expiration, you can comfortably pursue the...
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One question regarding having chapter 13 voluntary dismissed
Julianne's answer
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Answered on October 20, 2017
I agree with my cohort. You may have an opportunity here , however, to have a lawyer analyze your chapter 13 payment in light of their being no...
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