Archived
Can a deficiency judgment be entered against me in the forclosure of my home after a chapter 7 discharge?
Alan's answer
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Answered on August 31, 2012
The lender is not entitled to a deficiency judgment. Even asking for one violates the discharge injunction issued in your bankruptcy, so you may...
Archived
If our buyer were to claim bankruptcy after buying our house on land contract would we get our house back?
Alan's answer
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Answered on August 30, 2012
Look at their schedule G to see if they want to continue the land contract. If so, then your rights will continue on as thought the bankruptcy did...
Archived
I cosigned on my daughters school loan.She is in bankruptcy.I am now responsible.Is there a way to get my daughter to pay?
Alan's answer
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Answered on August 30, 2012
By co signing, you agreed to pay the loan if your daughter could not. Her filing bankruptcy means she cannot pay. So now you are on the hook. ...
Archived
In NJ filed Chpter 7, (07) reaffirmed 1st mort, not 2nd can i do short sale? Will i be liable for any deficiencies on 1st or 2nd
Alan's answer
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Answered on August 30, 2012
You would be off the hook on the second mortgage. By reaffirming the first, you have opened yourself up to the possibility of a deficiency...
Archived
Can I be taken to court or summons by a company trying to collect 2 bad payday checks from 2003? Isn't this too old to collect?
Alan's answer
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Answered on August 30, 2012
Get an attorney to assist you. It sounds like the statute of limitations has run and you may be able to defend the case on that basis. If there...
Archived
Adversary Trial Opinion 523(a)(2)(a) Counterclaims and Damages & Lost Income
Alan's answer
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Answered on August 30, 2012
A forensic accountant might be of assistance. With the real estate market crash, you will need an expert to establish that you suffered damages.
Archived
I am judgment proof and don't want to file for bankruptcy but my soon to be husband is wealthy. Should I file and which one?
Alan's answer
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Answered on August 30, 2012
. I recommend a bankruptcy for several reasons. First, the judgment will be around for years (in MI it can be 20 years). This means that any assets...
Archived
In chapter 13 do they normally take your vehicls to sell and recoup money(s)?
Alan's answer
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Answered on August 30, 2012
As long as you pay in a chapter 13, the same amount that your creditors would get in a chapter 7 (where they sell your stuff), you can keep your...
Archived
In filing a bankruptcy, does a judgement for a car accident go under secured or unsecured priorty claims ?
Alan's answer
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Answered on August 30, 2012
This is unsecured. It only becomes priority if it was an alcohol related accident on your part. Once you file you should be able to get your...
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Archived
Do banks speed up the foreclosure process after Chapter 7 bankruptcy discharge?
Alan's answer
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Answered on August 28, 2012
Probably not. Computer programs run the show these day. This is why the banks do not do things that make any sense.
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