We got our Ch.7 discharged back in November, 2009. We are now thinking about walking away from our home. We did not reaffirm through the bankruptcy. However, our mortgage was held through Universal Mortgage at the time, they since then sold to US...
Dorothy is right, since you entered into the mortgage contract before filing and did not reaffirm you are not personally liable for any potential deficiency. Furthermore, your credit should not be affected since you are not personally liable for the debt and the bank can not report any default on a debt that was discharged. Good luck!!See question
I am close to going into foreclosure and have a lot of debt. I have also been unemployed since November 30th, and have no income. We want to get married in May, but I am terrified that my debt will come into the marriage with us!
Any debt incurred before marriage is not marital debt and your soon to be husband will not be liable for YOUR debt. Go ahead and get married. Good luck!!!See question
If one is a partner or shareholder in a business, can they file personal bankruptcy? IS the business affected if they do?
Yes they can file a personal bankruptcy and the business CAN be affected. Any shares that the partner owns would be considered assets that are subject to liquidation assuming they are not exempt and have value in a Chapter 7. Does the business have a lot of assets? Equipment? Accounts Receivables? Is it a service business? All these questions need to be addressed before filing. The trustee would have the power to step into the debtor's shoes as a shareholder and have equivalent authority if filing a Chapter 7. If filing a Chapter 13, the debtor would have to devote all of their disposable income to their repayment plan and must repay unsecured creditors at least the value they would have lost in a Chapter 7. I highly recommend consulting with an experienced bankruptcy attorney.See question
In 2009, I filed for chapter 7 bankruptcy in Wisconsin. Upon filing, my husband chose to be a non-filing spouse. All debts, including his non secured debts, were included in the paperwork. In November of 2009, a complete discharge was granted and ...
Since you only filed for bankruptcy your husband's debt was not discharged even if you listed it. Therefore, he can be sued since YOU were the filer and not him. The discharge order only applies to your debt. I am sorry to hear about your experience with the law firm you chose to hire. Clients should NEVER be disrespected by their attorneys. However, they did not represent your husband in the bankruptcy and therefore he is not their client and they do not have to answer any question regarding his debt.See question
Considering that I've already been served, would I be wasting time and money to remove myself from a vehicle title to protect this asset? I am in Oregon
I would not suggest transferring assets as it may constitute fraud; especially after being sued. How much are you being sued for? If not much, simply go to the court date and talk to the creditors attorney. They may be willing to settle the debt for a fraction of what you owe; especially if you are not working or do not have any assets. If you do not like their offer, ask them to provide you with proof of the debt. If you make them work too hard, they may dismiss your case or settle for cents on the dollar. Good luck!!See question
My brother and I were caught at the store H&M taking $25 worth of merchandise that was recovered/undamaged by LP. We are not sure what to do. We are full-time students with above 3.0 GPA's and are not gainfully employed. We are not sure which rout...
First off, stop stressing. The crime you are charged with is not serious. I would still recommend hiring a private attorney to handle this matter for you. I want to stress that I have nothing against public defenders. Most public defenders I have met are very competent; but the matter of the fact is they are overworked and do not have as much time to focus on a certain case as private attorneys do. That being said, a competent attorney should be able to get you out of this offense without a conviction on your record, assuming you do not have a criminal background. In Illinois, you would most likely receive supervision if you plead or are found guilty. If you complete supervision satisfactorily (no new arrest, restitution, etc) then no conviction will enter against you. Good luck!!See question
So if the 1st group of paper work said I was sued then do I need to answer the Summons if so what should I say?
Yes, you have to answer the complaint. Failure to answer the complaint will result in a default judgment being entered against you. Once there is a judgment, then the creditor can start garnishing your wages or seizing your assets. It is quite simple; just admit or deny each allegation. You also have the option to admit in part and deny in part. Good luck!!See question
I requested an exemption of anticipated $3800 of tax return on Schedule C. I plan to file for tax refund after I complete the Meeting with the Creditors. If I file after the meeting, do I get to keep the return or will it be electronically inter...
If you have exempted it from your bankruptcy estate, then you have nothing to worry about. Even if you did not exempt it, I do not believe the trustee will go after it since it is only $3800. From my experience, trustees are only concerned with tax returns over $5000. If your tax return is over $3800 and you are out of exemptions, you should consider settling with the trustee. Essentially you would give him cash in lieu of the rest of the tax return. I do not think you have anything to worry about. Good luck!!See question
They have asked me to fill out a whole page listing my about my income, employmer name, address, ssn#, bank accounts in my name etc
Yes you would if it is a citation to discover assets. A citation to discover assets is issued after a judgment has been entered against you. In Illinois, failure to respond to the citation can result in a motion for rule to show cause (explain why you did not answer the citation). If the debtor does not respond to the motion for rule to show cause, then the Judge can issue a warrant for their arrest. If you have no assets, then you should definitely answer to citation to avoid any legal issues. If you have assets, you should consider settling with the creditor. Good luck!!See question
I'm in the US on a student visa, and thus have no SSN. The people holding my debt didn't have my passport, though they did have my US State issued ID (which I assume can be linked to my passport). The debt is just under $3000. What are the options...
Dorothy is right, you have absolutely nothing to worry about. The government can care less about your debt. You can come and go as you please.See question