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Alan D. Walton
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Alan Walton’s Answers

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  • I just recieved a notice to accelerate on a note from 1/25/2007. I lost the home in 2007 as well what does this mean for me.

    this notice was from a collection agency does this mean they are executing within limitations. Are they just defaulting this note to clear it off. I had to walk away from this home and this was the junior note on that house. the other one was defa...

    Alan’s Answer

    Definitely speak to an attorney before doing anything. If you have not paid on this loan since 2007, it is very possible the statute of limitations has expired. If you were insolvent when you lost the home there may be limited tax liability on your part if this is a debt cancellation.

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  • I am a widowed senior. Daughter is filing bankruptcy, she is an "or" signor on my accounts. Are my accounts in jeopardy?

    She is representing herself. My bank gave us a letter stating that she does not deposit nor withdraw from my accounts. She was added for emergency cases only. I have an IRA, savings, and checking with approximately $30,000 total funds. Please help!

    Alan’s Answer

    You should remove your funds from the accounts and put them into accounts that your daughter is not a co-owner of. If she has access to your funds as a co-owner, her bankruptcy trustee will have access as well.

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  • $6,500 in debt, should I file bankruptcy?

    I have credit cards, phone and cable bills, a college bill(not school loan), and gas company bill. I heard even if you try to pay bills off they may not remove it from your credit report. Plus I don't make enough to pay these off. Help!!!

    Alan’s Answer

    In a general sense, if your income is double what you owe, you can struggle for a few years and get out of debt without bankruptcy. Anything less than double what you owe and bankruptcy starts to make sense. In your case, with such a low debt load, the cost of the bankruptcy will be a substantial percentage of what your owe. Talk with a bankruptcy attorney about this. Perhaps doing nothing will work if your income is so low that your are uncollectable.

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  • Is this even legal to do??

    I received a court garnishments on my taxes for a debt that was closed in March 2011. My credit report says: "Charged off as bad debt Dispute resolved; reported by grantor" Can they really garnish my taxes, better yet my husband's taxes (we...

    Alan’s Answer

    The garnishment of a state tax refund it legal. An entity with a judgment can ask that your refund be diverted to pay the judgment. When you receive the garnishment statement after you file your taxes, there will be instructions for your spouse to claim his share of the refund.

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  • I need a bankruptcy lawyer

    Debts I need to clear up and my life back on track; however, I do not know how much this would cost me because I'm over my head.

    Alan’s Answer

    Contact Jennifer Bidwell or David Tovarez in Royal Oak

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  • Can my daughter in law throw me out of the house?

    I relocated to va in January to move closer to my daughter who's in the navy. My husband and myself have been staying with her and her wife temporarily until we found employment, which I have now been working for the past month. My daughter in law...

    Alan’s Answer

    There would have to be a court action to evict you. Since you are leaving in 13 days, it does not seem logical that your daughter in law could get you out sooner than that with a court action.

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  • Hi please explain in easy sentance what does filing for bankrupcy means?

    Explain as an ESL student

    Alan’s Answer

    Filing bankruptcy means all attempts to collect your debts must stop. The discharge order at the end means you are no longer obligated to pay most of your debts, and creditors cannot try to collect them. The process can be simple or complex, depending on your specific situation.

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  • Bankruptcy question before filing. I've got an auto loan on a vehicle that I own, and have the title to..

    I owe quite of bit of money on this loan, however I am anticipating filing bankruptcy come tax time. My question is: If I include this loan as a debt in the bankruptcy, can this loan company repossess the vehicle? Or will they not repossess the ...

    Alan’s Answer

    You must include ALL debts in your bankruptcy. As long as you properly provide for the vehicle loan, you can keep it. In a chapter 13, you can pay what the vehicle is worth (unless the loan was to purchase the vehicle less than 2.5 years ago), and get a clear title. When you file, the lender will file a proof of claim that your attorney can object to if it claims more than the vehicle is worth, provided it was not a purchase money loan less than 2.5 years ago.

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  • Can my attorney charge me with theft of service if I dont pay her what I owe? I owe 800.

    We dont have a contract and original agreement was 2000 for first step of the case. Im not satisified and want to go with another lawyer. We have paid 1100 so far. She keeps telling me she can charge me with theft of service. The work is halfway d...

    Alan’s Answer

    What has your attorney provided for you? If the "first step" was worth the $1100 you paid, then you are even. If it was worth $2000, then you owe the balance. There should be some kind of agreement on this.

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  • Will taking out a hardship withdrawal affect my means test prior to chapter 7?

    need to file by January 2015

    Alan’s Answer

    Probably will not affect the means test, but it is still foolish to access protected funds when bankruptcy is around the corner. Speak with an attorney before taking this step.

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