Archived
Can I form an single LLC, buy a house under the LLC and consolidate student loan debt into the mortgage and declare bankruptcy?
Blake's answer
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Answered on March 05, 2014
No bank is going to lend money to an LLC without a personal guaranty from the incorporating individual. Plus the creditor can disregard the...
Archived
Can you file bankruptcy on a judgement by default
Blake's answer
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Answered on March 05, 2014
Yes but do not delay. You probably should have filed before, and now they have the right to start garnishments, if permitted by state law, or bank...
Archived
I am in ch. 13. I have two more years to go. My total payout on the plan is now $11,000. I inherited $18,000. can I pay off
Blake's answer
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Answered on March 05, 2014
You must report this to the Chapter 13 trustee. This income is considered property of the bankruptcy estate. You should probably hire a new...
Archived
If most of my debt comes from private student loans should I still file bankrupt?
Blake's answer
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Answered on March 04, 2014
I am not sure what the other half of your debt is, but assuming it is dischargeable consumer debt by all means you should file. Getting rid of...
Archived
How do I postpone a court payment?
Blake's answer
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Answered on March 04, 2014
A Court payment for what? If a criminal case, failing to make restitution or pay court costs could result in revocation of probation. If a...
Archived
How long can a creditor after you file chapter 13 bankruptcy try to collect the debt?
Blake's answer
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Answered on March 04, 2014
Assuming the bankruptcy is still in place, the time for creditors to stop contacting you was the filing date.
Unless the automatic stay was...
Archived
Can I deduct assets taken in a Chapter 7 case?
Blake's answer
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Answered on March 04, 2014
More of a CPA question, this is not a tax forum however.
Archived
We have a timeshare that should be included in the bankruptcy but could we be forced to pay to the value of the timeshare?
Blake's answer
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Answered on March 04, 2014
You will need to review this with your attorney. Your plan can specify that your intention is to abandon the timeshare. The market value can be...
Archived
Should we pay our credit cards off or keep a small balance?
Blake's answer
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Answered on March 04, 2014
This is not a bankruptcy issue, bankruptcy is for dealing with too much credit card debt (medical debt, tax debt, etc.)
Get the book Credit Scores...
Archived
Condo was included in Ch.7 BK but I continued to stay current. Will selling it now send a red flag to credit card companies?
Blake's answer
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Answered on March 04, 2014
In my experience the creditors are on "zombie" collection status, they relentlessly pursue their debts without consideration as to the consumer's...
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