Philip James Beaton's Answers (36)

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Filing Chapter 7 when receiving tax return and relocation

Philip's answer | Answered on January 30, 2014

Based on your question I do not see a problem discharging your obligation on the land contract in a chapter 7 ( assuming you are below the median...

Archived

After debt discharge in Chapter 7(2013) should I expect 1099-C for each debt canceled? The bankruptcy case has not finalized.

Philip's answer | Answered on January 30, 2014

Discharge of debt in bankruptcy is an exception to the general rule that debt forgiveness is considered income by the IRS. After your discharge...

Archived

Does my husband have to pay debts in both our names if I file bankruptcy by myself?

Philip's answer | Answered on January 30, 2014

I agree you should consult with a local bankruptcy attorney. When you do ask them to explain the difference between the debt being uncollectable as...

Archived

Transfer of real estate a few years ago effect on Bankruptcy chapter 7

Philip's answer | Answered on January 30, 2014

A bankruptcy trustee can sue for a fraudulent transfer if the debtor (the person who filed bankruptcy) transferred money or property to another...

Archived

If my home was included in bk in 2012 should I now sign a deed in lieu from lender? They also say im getting a 10-99 from them?

Philip's answer | Answered on January 23, 2014

Your question does not make clear whether you reaffirmed the debt on the house. In reading your question is sounds as though you may have rearmed...

Archived

Can i buy a house on a land contract that someone is filing bankruptcy on.

Philip's answer | Answered on January 23, 2014

Depending on her overall financial situation it may be best to file a chapter 7, reaffirm the debt on the house, and obtain a discharge prior to...

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