A credit card was opened in FL by my ex wife in my name over 5 years ago. I opened an account in Chicago since i am no longer living in FL. A restraint was placed on my account without my knowledge of the payments not being made. What is my next s...
Yes. Without the protection of bankruptcy you are at the mercy of the credit card companies. There is probably a judgment against you. I would be happy to discuss the matter with you.See question
In addition It was suggested by Illinois Child Support that I file a motion and go in front of a judge and request a reduction 3 times in Chicago I was ignored and denied a reduction even though I provided proof of being unemployed.
You could stop the lien, free up your bank account, and pay back the child support in a Chapter 13. It would be much simpler than the course you are on now. You would however have to have a source of income.
I would be happy to discuss this matter with you.See question
If one owed the state 2-5 grand for unemployment overpay could it be covered on a chapter 13 bankruptcy?
Yes, I have attached a detailed breakdown of what debts are covered under which chapter.
Debts Dischargeable in Chapter 7
• Personal loans -- such as money borrowed from friends
• Credit cards
• Repossession deficiencies
• Auto accident claims
• Health care bills
• Debts from a Business
• Negligence claims
• Tax penalties over 3 years old
• Non priority taxes
Possibly Dischargeable in Chapter 7
• Willful and malicious injuries to others
• Fraud or dishonesty
• Debts arising from breach of fiduciary duty
Note: Creditors must file suit promptly to contest the discharge of this claim.
Need Chapter 13 for:
Debt Limit: Disallowed for debtors with unsecured debt over $336,900 or
secured debt over $1,010,650.
• Luxury purchases on credit within 90 days of filing
• Cash advances of over $750 within 70 days of the filing date
• Debts for loans taken out against retirement accounts
• Trust fund taxes
• Child or spousal support
• Fines, penalties, restitution
• Accident suits involving intoxication
• Debts not listed -- see below
• Penalties payable to the government other than tax penalties
• Student loans
• Debts in prior bankruptcy and debtor was denied a discharge
• Taxes for years where return was unfiled or filed for less than 2 years
• Taxes for which no return has been filed
• Taxes first due within three years of the bankruptcy
• Taxes assessed within 240 days (8 months) of the bankruptcy filing. “Assessed” means you did not file a return, so the IRS computed how much they think you owe.
My husband is the only souce of income for our household, as we have two children with severe developmental dissabilities. We do not qualify for any assistance from the state or county or fed gov. as they say he makes too much money. I am needed...
You can save your home, and your 404c retirement with a Chapter 13 bankruptcy. You need to see a bankruptcy attorney immediately. Since your husband has a stable income, you will probably meet the eligibility requirements.
If on the other hand you do not have enough disposable income to fund a chapter 13 plan, chapter 7 could be an option. Money in retriement plans is exempt, and if your residence is upside down then there is no equity for creditors.See question
Can I get a mortgage in just my name even though I am married now to avoid any problem obtaining a loan?
Probably yes. If you apply for the mortgage yourself your wife's bankruptcy will not come into play. I recommend using a Mortgage Broker. they work with many lenders, and shop around to find one who will make you a loan. There is a fee, however it saves you precious time. A good online broker is E-Loan.
Examine your wife's credit since the bankruptcy to see if it has improved, if it has she may actually improve your results.See question
I filed for bankruptcy and received my monthly payments on 9/16. I was laid off on 8/16. My attorney advised me not to inform the court I was laid off. I still have not found work and cannot make the court payments. What can I do?
Unfortunately if you are unable to make your plan payments, the Chapter 13 trustee will eventually dismiss your case. You could convert the case to chapter 7See question
I just got divorced with 43000 credit cards debts left from my ex-husband (he used my name to open credit cards). it's almost impossible for me to pay the debts. Should I go for bankruptcy? How long after bankruptcy I can rebuild my credit? As it'...
Bankruptcy has been used by many of our nation's largest companies like Texaco, America West Airlines, Macy's, T.W.A., Pan Am, A. H. Robbins, Penn Central, Wards – as well as famous people like Jerry Lewis, Kim Basinger, David Bowie, Anita Bryant, Natalie Cole, Mickey Rooney, Walt Disney, Tammy Wynette, Mick Fleetwood of Fleetwood Mac, Zsa Zsa Gabor, Isaac Hayes, Don Johnson, Abraham Lincoln, Donald Trump, MC Hammer, Marvin Gaye, Archie Griffin, Dorothy Hamill, Milton Hershey, Perez Hilton, Ronald Isley, LaToya Jackson, Thomas Jefferson, P.T. Barnum, Merle Haggard, Willie Nelson, Burt Reynolds, Larry King, Cyndi Lauper, Abraham Lincoln, and former Treasury Secretary John Connally.
The same laws that are routinely used by corporate America, and the rich and famous, can protect you and your family.
In Chapter 7 you can keep the property that is protected in the bankruptcy, and generally anything you acquire after the bankruptcy. The day your bankruptcy is filed acts as a "cut-off" date. Anything you earn after the filing date is yours. Anything that you own or have owed to you before the case is filed is subject to the bankruptcy court's rules. Most normal belongings are protected (as outlined above).
Today, many stores and banks actively market to people who have filed bankruptcy. Mortgage companies do help applicants get new mortgages with a bankruptcy after two to three years. As a practical matter, you only file a bankruptcy when you can't pay your bills. Because of that, your credit is probably already bad. A bankruptcy won't make it any worse. Bankruptcy puts you in a better position to pay current bills and that should improve your chances of getting new credit.See question
I want to know if I can start proceedings now and maybe get som relief??
The eight year requirement only applies to Chapter 7 repeat filings. You Can file a Chapter 13 reorganization. Seek counsel immediately.See question
I was terminated in Feb. 09 by my employer after almost 8 years. I'm now collecting unemployment. My wife makes approx. $25K / year. I've been unsuccessful at finding a new job and I'm not optimistic I'll get anything anytime soon. Soon unemplo...
The bankruptcy laws are designed to allow a fresh start. A fresh start would be impossible if you would lose all your property. The fact is that most people don't lose anything in their bankruptcy. The bankruptcy law allows the State government to decide what property is protected for bankruptcy cases filed in its state. In Illinois, you are allowed to keep most personal and household property, equity in your home up to $15,000 per person, some equity in a car, most retirement plans, and many tools of the trade.See question
I have a settlement awarded to me for an accident, but the defend is stating he is going bankrupt, will i be able to collect on my judgement that was awarded to me for my damages.
Probably not. once filed, a bankruptcy, immediately stops actions against debtors by creditors, collection agencies and other entities. By trying to collect your judgment you would be a creditor, and would need to hire an attorney to get relief from stay to pursue your judgment. You will need to file a claim.See question