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About a year and 9 months ago I filed a chapter 13 bankrupsy. I plan to retire in a few months and my income will be reduced by
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Answered on November 08, 2010
You can either convert to Chapter 7 if your income/expenses prior to conversion meet the criteria set forth in the Means Test (which depends on...
Archived
Schd B/C of chapter13 bankruptcy question on 401k declaration, help CA atty!!!
David's answer
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Answered on November 01, 2010
Under either of California's 2 systems of exemptions, an ERISA qualified pension Plan will be exempt (up to slightly over $1 million). Schedule C...
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Dismissing without prejudice
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Answered on November 01, 2010
Dismissal "without prejudice" means that the creditor still reserves the right to re-file a lawsuit against you but, in reality, the creditor is...
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TUITION AND CHAPTER 7 OR CHAPTER 13
David's answer
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Answered on November 01, 2010
So long as it's not a loan made "for educational purposes" this particular debt can be discharged in chapter 7 or 13.
Archived
In Ohio If item is worth 3k, but total hh items are say 8k, can you exempt the 3k item or is it limited to $525?
David's answer
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Answered on November 01, 2010
It is true that household goods are usually listed in the aggregate as opposed to each individual item.
But, the real issue may be the $5,000 of...
Archived
Will I owe taxes on an inheritance from another country?
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Answered on November 01, 2010
Generally, an inheritance (deemed a gift) is not deemed "income" for taxable income purposes, although any income generated from such a gift is...
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Do I have to claim spousal support on my tax return?
David's answer
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Answered on November 01, 2010
Spousal support (but not child support) is to be included as gross income by the recipient and can be deducted by the payor.
Archived
I only have some of my down payment for a chapter 13 condiut payment can I use a 401K loan to help?
David's answer
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Answered on November 01, 2010
A few different issues here...
The first Plan payment is due within 30 days of filing, so one Plan payment prior to the 341 hearing is...
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My husband wants to take his name off the house title for tax purposes. We are both on the title and mortgage. Can he do this?
David's answer
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Answered on October 27, 2010
There are possibly both income tax and bankruptcy implications here.
Your husband is free to transfer his interest in the title to the house to...
Archived
Do you really need to include your secured debt(i.e car payment) under a chapter13 plan to allow 2nd lien strip? Help!
David's answer
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Answered on October 26, 2010
Only in a Chapter 13 bankruptcy, and not in a chapter 7 bankruptcy, can a second mortgage be removed from your home. This is what’s commonly...
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