Archived
I won a judgment in small claims court. Debtor filed bankruptcy this month. Can I claim this a loss on my 2013 income taxes?
Alan's answer
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Answered on March 18, 2013
Yes, but only to the extent the amount written off (less salvage value and less $100), exceeds 10% of your adjusted gross income.
Archived
How far back will a trustee look when filing bankruptcy in Florida if your did a quit claim deed on a home
Alan's answer
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Answered on March 18, 2013
You should also discuss with your attorney the possibility of having your son deed the property back to you, so that you can protect it with your...
Archived
Can a motion to retain my income tax refund be filed while I'm in a Chapter 13 ?
Alan's answer
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Answered on March 18, 2013
Yes, but whether it is granted is specific to the trustee and court dealing with your case. You should be able to show that the funds are needed...
Archived
I am considering bankruptcy, can I include my HOA dues.
Alan's answer
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Answered on March 18, 2013
In addition to the remaining lien against the property, you will be liable for all HOA dues that come due after you file the bankruptcy until title...
Archived
What is the estimated cost to change a neighborhood from a condo project to a subdivision
Alan's answer
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Answered on March 17, 2013
You would still need an association to manage (and assume the liability of) the common areas.
Archived
Can I sell or refinance my home after a chapter 7 bankruptcy?
Alan's answer
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Answered on March 17, 2013
Ask each mortgage lender to provide you with a payment history. Then dispute your credit reports regarding the mortgage payments, and provide the...
Archived
I am filing chapter 7 bankruptcy. Do I have to include taxes at the time of filing or do I submit them later.
Alan's answer
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Answered on March 17, 2013
This is trustee and district specific. Most trustees want to see (and you are required to provide) the most recent tax return. If you are filing...
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Archived
A disputed credit card debt was settled under Accord and Satisfaction. Can i be issued a 1099 for supposed amount forgiven?
Alan's answer
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Answered on March 17, 2013
Yes. The IRS writes the rules about when a lender must issue 1099s. So if the lender ends up writing the balance of the debt off its books, it...
Archived
How long will it take to be able to purchase a house that is tied up in a bankruptcy proceeding.
Alan's answer
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Answered on March 17, 2013
Technically, the house is owned by the bankruptcy trustee until (s)he releases it. In the meantime, the lender can ask the bankruptcy court to be...
Archived
I got a discharge, and reaffirmed my mortgage. Why does it show on my credit report as discharged debt?
Alan's answer
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Answered on March 17, 2013
Most attorneys would advise against reaffirming a mortgage. If you did in fact reaffirm, you should dispute the information on the incorrect...
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