Archived
I owe $15,000 directly to an educational institution, If I file bankruptcy could I keep my paid off truck?
Steven's answer
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Answered on March 31, 2015
The truck would be covered by the tangible personal property exemption so if you allocated $3000 to your truck (based on your value), you would...
Archived
My paycheck was just garnished based on a judgement for $950 ( judgement on 12/05)
Lawyer debt firm says i owe them $1950
Steven's answer
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Answered on March 31, 2015
Very doubtful that they will settle at this point since they have a garnishment. Bankruptcy seems overkill for a debt of $1950.00 unless you have...
Archived
Can I walk away from the vehicle without receiving any debt?
Steven's answer
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Answered on March 31, 2015
Mr Granvold's answer is directly on point. The only thing to add is that you are at that point in the loan where the payments you make are going...
Archived
Is it legal for someone who claimed a property exemption in a bankruptcy to sell that property before the bankruptcy is final?
Steven's answer
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Answered on March 31, 2015
The "gift" of a vehicle to a family member would be reviewed by the Trustee to see if the unwinding of the transfer would bring a benefit to the...
Archived
Chapter 7 bankruptcy for my corporation(C corporation) was discharged almost 4 years ago, I was notified by a creditor
Steven's answer
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Answered on March 31, 2015
First - Corporations are not entitled to discharges of debt. As an employee or even an owner of a corporation, you are not personally liable for...
Archived
If your ex wife owed you money in a divorce then claimed chapter 13
Steven's answer
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Answered on March 31, 2015
You need to take the court papers to a bankruptcy attorney to see if this is a dischargeable debt or not. From your question, it seems to be an...
Archived
Can I file a chapter 13 bankruptcy if I'm collecting unemployment?
Steven's answer
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Answered on March 31, 2015
Yes you will be able to file. As stated, your unemployment benefits need to exceed your living expenses ie rent, food, gas) plus the monthly...
Archived
Can I file chapter 13 and still keep my truck
Steven's answer
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Answered on March 30, 2015
To qualify for a Chapter 13 you must have regular income. That being said, the definition of regular income is expansive and does not necessarily...
Archived
I'm poor/indebted, my wife is rich/debt free and we still live together. Will I pass chapter 7 means test?
Steven's answer
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Answered on March 30, 2015
Your wife's income is includable to the extent that it is contributed to the household expenses. So unlike you, she can deduct 401(k)...
Archived
After chapter 7, if a bank will not repossess my vehicle and releases the lien to me for disposal, can I keep the car?
Steven's answer
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Answered on March 30, 2015
No loophole. Keep a dated copy of the hardship letter and lien release in the event of a unlikely dispute. Get your clean title. Good luck
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