I have filed chapter 7 bankruptcy and my second mortgage is included. Rather than including the first mortgage, my attorney set me up with a realtor who says he can sell my house (the homestead act was mentioned, but I don't exactly remember what ...
Your question raises a lot of concerns. When you file a BK, all of your debts are included. Even your first. That you are misunderstanding that is a problem. You need to speak with your attorney and be sure that all your debts are listed. Absolutely.
There can be no guarantee on how long you will remain in the house. Your attorney, agent, nor anyone else can promise you a set time frame.See question
The LLC is an ecommerce website.
An Arizona business must have a physical address. Further, you will need a statutory agent, and they will also need to have a physical address listed. There are ways to get this done, even without a physical presence. I suggest a consultation with an attorney to ensure it is done legally would be beneficial for you.See question
I know that it's best to file the day after a pay day, but how much can the trustee take if I file a week after?
It is very hard to give you a good answer without looking at your pay stubs and seeing how wages are structured. The Trustee is potentially entitled to a portion of the amount of money that you have earned, but not yet received.
By way of example, if you have earned but not been paid $1,000, then potentially $250 could be due the Trustee. However, it is not automatic. At times the Trustee will not request that any of that amount is paid. It will vary by situation.
If you know enough that there is some risk here, you should know that having an attorney is critical to getting this right. I suggest that you speak with your attorney and get a specific answer tailored to your facts, or that you hire an attorney and get help in the filing.See question
How long does it take for a creditor to record a judgment? Do I need to file Chapter 7 before it gets recorded?
You should discuss the judgment with a bankruptcy attorney to find out if it matters. They can record them very quickly, could be as short as a couple days.
If the judgment is one that a bankruptcy can help eliminate, it is almost always in your best interest to file the case BEFORE they can record that judgment. Once it is recorded, you may discharge the obligation to pay it, but the judgment itself often remains. Timing is critical, you should be speaking with your attorney very soon.See question
How long from the time a Chapter 7 is filed will it take to get the Meeting of Creditors?
In AZ, roughly 45 days. Could be a little sooner, could be a little longer.See question
My mother passed, and the home is assigned to a trust. I am the executor of the trust. How do I get it in my name or added into the deed?
Let me start by saying there is a lot of potentially missing information here, and the correct answer is to sit down with an estate planning and probate attorney to make sure all the facts come out, and you do it right.
With that being said, if this is a revocable trust and both parents have passed, you do not get to change it any longer. It is likely irrevocable and not subject to change.
The trust should contain instructions concerning what to do with the home. Sell it, transfer it, etc. You should simply follow those instructions.
Again, it is best if you obtain formal legal guidance in the process if you have any question as to how to accomplish this.See question
I have already filed bankruptcy before and am wondering if I can do it again I think it was chapter 7 I didn't make payments to pay anyone back and they were able to stop garnishments.
8 years from filing. We could look at Chapter 13 if you do not meet that time frame. I suggest a discussion with a bankruptcy attorney to verify your rights. [redacted]See question
My girlfriend divorced her ex several years ago because he was cheating. She was a housewife, inexperienced and very naive. She got shafted out of most everything, had a bad attorney, etc. Her ex later filed BK and all the lenders then started ...
It is not possible for me to tell you for certain without actually looking over her actual numbers and discussing the details. I, like many others here, offer free consultations to answer these kinds of questions. That said, unless there is more than $6,000 in equity in that car, it likely is not an issue - she could probably keep it. Whether or not she should is a different matter - high interest, high payment.
I suggest getting some personalized advice, and making a more informed decision.See question
we took out a home equity line in 2005 for 100k. We filed bankruptcy in 2011 and all debts including heloc were discharged in 2012. our 1st mortgage company did a loan modification in after the bankruptcy discharge which kept us in the home. We we...
It is quite common that the lien survives the bankruptcy. You have your discharge, which is good, but rarely will the lien actually be stripped off.
In a few cases, I have been able to get the second or third position lender to agree to some nominal payment in exchange for an actual lien release. I have had many more lenders refuse to do so, than accept it. The availability of this depends in large part upon (1) your current financial position, (2) the value of the house, and (3) who the lender is.
By way of example, I have found that a large institution like Chase or Bank of America is more likely to agree to a settlement than a credit union. Every situation is unique, and it is hard to say.See question
I have a mortgage and am behind in payments, auction date is set for next month, but I have a buyer. My principal is $104K but payoff is $133 from fees like interest due, escrow advance, corporate advances, attorney fees, etc... if I were to sell ...
What fees COULD be waived? All of them, but that is not likely to happen. What you are likely looking at here is a short sale. The amount owed is more than the amount you can get from a buyer. A short sale this close to a foreclosure date can be hard to accomplish, but it is possible if you act quickly. If everything goes well in a short sale, we can typically get the lender to forgive any amount you still owe, thus removing the threat of collections when it is done. Further, many people qualify for a tax credit that can reduce or eliminate any taxable income from the transaction.
Allowing it to foreclose could be the best choice at this point. There are good protection laws in Arizona for many homeowners who lose their home. Short sale could also be a good option. I suggest that you actually consult with an attorney and find out which option is best for you, as the odds of them simply writing off fees for your 'traditional' sale to happen is highly unlikely.See question