Archived
Can i garnish a debtors bank account in TX, with a writ of execution or does it have to be a writ of garnishment?
Michael's answer
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Answered on April 26, 2012
"Personal property" includes bank accounts and cash - garnishments are only for wages, which is not possible in your situation in TX. You obtain a...
Archived
What price can we buy our home back for after a sheriffs sale or auction during our redemption period in Michigan?
Michael's answer
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Answered on April 26, 2012
In order to redeem your mortgage post-auction, you will need to "buy it back." Typically, at auction, the bank itself will be the only bidder on...
Archived
In a chapter 11 bankruptcy can I cram down a first mortgage?
Michael's answer
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Answered on April 26, 2012
Cram downs on residential properties used as a home and secured by a mortgage are typically not allowed a cram down in Chap. 11 (see secetion...
Archived
I paid my Lawyer 1300 dollars when i filed for ch. 13 bankruptcy. She now wants 425 dollars to convert to a ch7 is this fair?
Michael's answer
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Answered on April 26, 2012
Completely fair. First, there is a filing fee to convert that has to be paid. Second, there is additional work to be done to convert the case. ...
Archived
Statue of limitation on unsecured credit card in alabama. Been told three yrs, been told six years. does time start at last pmt.
Michael's answer
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Answered on April 24, 2012
AL usually considers credit card debt to be a written contract, so the 6 year SOL usually applies. I know some out there call a credit card to be...
Archived
Judgement Issue
Michael's answer
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Answered on April 24, 2012
Unfortunately, the bank is correct. Your friend may have made a deal with the bank, but you weren't a party to that deal. They have every legal...
Archived
Do I need to file bankruptcy in order to terminate my LLC?
Michael's answer
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Answered on April 24, 2012
Since you personally guaranteed the loan, my advice is to file a personal bankruptcy, referencing all LLC debt in your filing as well as listing...
Archived
Foreclosures and bankruptcy
Michael's answer
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Answered on April 24, 2012
I assume by your post that you meant the bank was granted a "lift stay" by the court to allow them to continue to foreclose on your property. That...
Archived
What happens if a loan is not secured, but should've been by a car title, if a chapter 7 is filed?
Michael's answer
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Answered on April 24, 2012
Yes. They failed to perfect a lien, so it is not a secured debt. They certainly may launch a separate "adversary proceeding" in your bankruptcy...
Archived
Surved a summons for not paying a medical bill. Paper gives me 20days to respond. I do not have the money to pay the bill.
Michael's answer
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Answered on April 24, 2012
I'll be perfectly honest here - there is nothing for you to do unless you disagree (honestly) that you owe the money. IF there is a legitimate...
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