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Im preparing my own chapter 7 case in MN. Form 22A , part 2, question 10 Income from all other sources. Is SSV income exempt?
Alan's answer
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Answered on April 04, 2012
Yes it is exempt. And to the extent that your son's funds do not go toward household expenses, they should not be included in Schedule I.
Archived
Do I still need to pay property taxes on a property that I surrendered in Chapter 7 Bankruptcy?
Alan's answer
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Answered on April 04, 2012
Real estate property taxes are against the property, not the owner. If the bank pays, the debt gets discharged. If the bank does not, the local...
Archived
Bankrupcy
Alan's answer
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Answered on April 04, 2012
The lender will close the credit line upon the filing of bankruptcy, no matter what your intention. You can keep paying to protect the co-signer,...
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Upside down by 50,000, i cant modiy due to nonowner occ. deed in lieu, bankruptcy or
foreclosure?
Alan's answer
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Answered on April 04, 2012
While deficiencies are possible in MI they are rare. You should probably offer a deed in lieu when you tell the lender you are abandoning the...
Archived
My wages are garnished and each paycheck they are taking almost 30% and I'm behind with other bills due to this garnishment .
Alan's answer
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Answered on April 03, 2012
File a motion with the court to set up a payment plan that will have you paying less than the garnishment. Or consider bankruptcy - chapter 13...
Archived
I live in minnesota, and am curious to what are the exemptions for filing bankruptcy
Alan's answer
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Answered on April 03, 2012
According to the referred website, MN allows the federal exemptions. So it is the value of the 3 cars and 2 bikes that matter, as well as who owns...
Bankruptcy and whole life insurance loan
Alan's answer
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Answered on April 03, 2012
As long as you have cash value, the loan will continue the insurance. Even if you never pay it back, the end result is that you have that much...
Archived
What legal liability do I have iin MI f my unemployed spouse sells HIS home, joint filing on returns?
Alan's answer
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Answered on April 03, 2012
You cannot be sued for your spouse's debts. A court decision in the 90's made it clear that a spouse is not obligated to cover even necessities. ...
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Credit
Alan's answer
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Answered on April 03, 2012
Follow the credit reporting agency's dispute resolution process. If you are not obligated to pay, the debt should not be reported on your credit...
Archived
Judgement proof for my dad
Alan's answer
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Answered on April 03, 2012
Your dad's income is protected. Based on your description, absent unknown issues, I would probably write a letter to the collector advising them...
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