We may need to do a Chpt 13 lien stripping of our 2nd mortgage. How does this work?

You may strip a second mortgage if the second mortgage is totally unsecured. Thus, you must owe more on your home then the property is worth. In...

Bankruptcy Law

They are not considered paid but they are discharged. Any attempt to collect violates the discharge order. I would fax them a copy of your...

If your home was used as collateral for one loan only and you opt to keep the house through your bankruptcy, the underlying debt will not be...

AFTER chap 7 DISCHARGE, is it safe to borrow from 401k?

You are allowed to do so. There will be no retroactive objections.

I am thinking of becoming a LLC to save my business. If I need to file personal bankruptcy will I also loose my business?

Starting up an LLC at this point will provide little in the way of protection. My guess is that the ample protections afforded to you under the...

Am i personal liable for my s-corporation creditcard debt?

My guess is that unless your S-Corp has been doing business for some time, you likely agreed, unknowingly or not, to personal liability for the...

I retained on statement of Intention but did not sign reaffirmation agreement. What will happen to me?

In the absence of a reaffirmation agreement(it is an open question as to whether the judge on your case would have even allowed one to be entered),...

Joint Account Chapter 7 Bankruptcy

I have seen this work on occasion but only where marrieds were both liable on the same debt. If you do succeed, again extremely unlikely, the...

Judgment and Wage Garnishment... Is there a way to stop such ridiculous wage garnishment?

You could try challenging the garnishment itself, but my guess is the underlying debt to Discover is legitimate. In any case, the collector should ...

As long as it is a real expense that your household confronts on a monthly basis, there is no reason why you would not include it on Schedule J. I...