1st was not reaffirmed and 2nd was. How can this be? 1st does not show up in the discharge papers.

A reaffirmation agreement is an agreement between you and the creditor reestablishing a previously discharged debt. Often, debtors indicate their...

How long can the mortgage company seek payment once the loan has defaulted?

Generally, a co-borrower is liable on a loan even after foreclosure. If a judgment is taken, they can collect on the judgment through normal means...

If i have monthly income of 2800, & file Chapter 13 witha judgement debt of $60,000 what will be my payments?

Generally, there are two analysis that go into determining how much you must pay in a chapter 13 bankruptcy case. First, the liquidation analysis....

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When does the Landlord lose rights to collect rent?

Generally, a tenant is obligated to pay rent to the land lord, even if the property is in foreclosure. Foreclosure is often resolved short of an...

What if the landlord is not aware that the tenants knows that the building is in foreclosure?

Generally, a tenant is obligated to pay rent to the land lord, even if the property is in foreclosure. Foreclosure is often resolved short of an...

In the state of Ohio, if my condo is foreclosed, will I have to pay extra taxes?

If there is a deficiency after the sale and the mortgage company forgives the debt, you may receive a 1099 C. When a creditor forgives (charges...

Do I have to pay back Self-employment taxes (SS & Medicare) if I'm filing for years 2003-2006?

Generally, you must pay the same taxes, plus interest and penalties, as you would pay had you filed on time. Clients often believe they should pay...

May i obtain a 20 years life insurance before going on bankruptcy chapter 13 ? would it have some impact on the trusteed

The answer is YES. You can fund a reasonable amount of life insurance, even when you are under the protection of the bankruptcy court. As a matter...

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My lawyer is working on my Bankruptcy chaper 7 case for the las 4 years.

I don't understand your question. Has your Chapter 7 case been pending for 4 years - or are you waiting to have the case filed? If the case is...

Going through a divorce with a mortgage loan in both names and both want to file bankruptcy. Does it matter who files first?

The short answer is no. The timing will not effect your discharge. I hope this helps. Respectfully, Steven A. Leahy www.chicagotaxteam.com