Archived
If I file for a chapter 7 bankruptcy what will happen to my trust? Also I am thinking of making one for my son - good idea?
Michael's answer
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Answered on May 28, 2013
Bad idea. There are 2 separate issues here - disclosure and exemption. On disclosure, you are absolutely required to disclose the existence of...
Archived
Minnesota RE: Ch 7 means test: do grants received count as previous 6 months income? Federal loans?
Michael's answer
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Answered on May 28, 2013
Anything that you have a legal requirement to repay (i.e., loans) is not considered income, but grant income (which, by definition, you don't...
Archived
We were added to grndmas house to avoid probate and own our own house. Do we have to include grndma house in bankruptcy?
Michael's answer
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Answered on May 28, 2013
Now you return to your bankruptcy attorney and reopen your case. Your failure to include your ownership interest in your grandmother's home in...
Archived
I have been divorced for 10 yrs. My ex now wants joint physical custody. We're going to mediation, can giving this up hurt?
Michael's answer
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Answered on May 28, 2013
Absolutely. First, altering the custody award in MN takes a lot of doing - he has to prove that there is a significant danger to the children that...
Archived
Am I liable for credit card debt on cards that I was not even aware of?
Michael's answer
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Answered on May 28, 2013
Maybe. IF you can prove that you had nothing to do with incurring the debt (easy) AND didn't benefit from the proceeds from the debt (harder), you...
Archived
Can I file for Bankruptcy in N.C. if I have an ongoing Divorce action in another state?
Michael's answer
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Answered on May 21, 2013
Yes, you can file for bankruptcy in NC since you've lived there since 2010 (unless your attorney actually filed a bankruptcy somewhere else -...
Archived
Right as adopted child to family information.
Michael's answer
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Answered on May 21, 2013
In HI, you can request to be given access to your adoption records from the family court where the adoption occurred. If neither of your birth...
Archived
How harmful can be a debt posted by a debt collector in the credit report? How much will they take to not post it?
Michael's answer
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Answered on May 21, 2013
The creditor will take your $500 and still report the debt anyway - so long as the information reported is factually correct, it can be reported. ...
Archived
Can a person who can be considered Head of Household have the only car used for income garnished or taken away?
Michael's answer
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Answered on May 21, 2013
If you cannot cover all relevant assets with the exemptions provided, then, yes, the car can be taken to try to satisfy the lien. FL only exempts...
Archived
Who owes on a credit card debt if the cardholder dies?
Michael's answer
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Answered on May 21, 2013
If you're talking about life insurance, the beneficiary is not liable for the debt since the payout is not part of the deceased's estate. In...
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