I agree with Mr. Adams. Credit Unions typically put cross-collateralization clauses in any secured loans they provide to you. So if you had a...

Does the make and model of my vehicle really matter in a bankruptcy?

There are several issues related to automobiles in bankruptcy: 1) There are certain exemptions in place to protect equity you have in your...

We received our tax returns prior to filing bankruptcy.

As long as you received and spent the tax refund prior to filing the bankruptcy, it is likely the Trustee just wants an accounting of how those...

Can you claim bankruptcy twice in Missouri. The first bankruptcy was filed in October 2005

It depends on whether you previously filed a Chapter 7 or a Chapter 13. If you previously filed a Chapter 7, you would need to wait 8 years from...

Can trustee use tax returns to pay creditors in chapter 7?

Yes, a Chapter 7 Trustee can take a tax refund to pay creditors. The Trustee will likely request a copy of your tax return to see how much of a...

Can we spend exempt portion of tax return?

The Trustee (or any other creditor for that matter) can object to your exemptions, which is why you were told not to spend your tax refund until...

I filed chapter 7 bankruptcy that has been discharged. I reaffirmed on my mortgage loan and I am current on my payments.

If you reaffirmed on the debt, it is very important you get and stay current on your payments, or you risk having the mortgage company move forward...

What is the time frame when filing Chapter 7, when trying to get more time on a foreclosure.

I agree with Mr. Berkus. As long as the Chapter 7 is filed before the foreclosure sale takes place, the bankruptcy will stop the foreclosure sale...

Can a bankruptcy trustee go after a lawsuit after I filed bankruptcy?

You absolutely need to tell your bankruptcy attorney as soon as possible. He or she will best be able to assess your situation to determine if the...

I am in Year 4 of a 5 year Chapter 13. May I use my yearly bonus to pay fed tax I owe this year instead of giving it to Chpt.13

It depends on what type of Chapter 13 plan you are in. Contact your attorney before doing anything. Sometimes the IRS is willing to have their...