Archived
I'm filing a chapter 7 BR for a mtgg and a 2nd mtgg + ccds. I quit claimed land to an ex last year. Will this be a red flag?
Stephen's answer
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Answered on October 14, 2012
It is an inside transaction that must be listed on SOFA and will be scrutinized by the trustee.
Archived
What happens during bankruptcy?
Stephen's answer
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Answered on October 14, 2012
Several possibilities here. If the property is upside down then they will probably surrender it. Often times that means you need to find a new...
Archived
If suing in small claims court to Credit bureaus? How many times I can sue for vilations of the FCRA
Stephen's answer
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Answered on October 14, 2012
You don't have to file separate lawsuits for each violation. The damages are per violation not per lawsuit. File one complaint and each violation...
Archived
Is there a way to negotiate federal IRS taxes owed because of circumstances relating to paying off credit card debt that had a
Stephen's answer
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Answered on October 14, 2012
Compassion from the IRS ? No. But you can sort of negotiate by setting up a payment plan.
Archived
What can I do ? I had my wage exemption hearing and my wages were found to be exempt from garnishment.
Stephen's answer
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Answered on October 14, 2012
You can file a notice with the court and request a date by which the paperwork must be filed.
Archived
Can creditors come after a 78 yr olds IRA if she cosigned for a school loan that has been defaulted on?
Stephen's answer
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Answered on October 14, 2012
BRAs are exempt from attachment so she can do it.
Archived
Planned bankruptcy or default
Stephen's answer
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Answered on October 14, 2012
Stop using the cards and don't make any payments for 90 days then file.
Archived
I am behind in my mortgage payments. Can I list on line 42 of means test? Had to quit paying when unemployment ended.
Stephen's answer
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Answered on October 14, 2012
Yes you can because the debt is contractually due on the date of filing .
Archived
How long will it take for the bank to foreclose on our home that was listed in a bankruptcy once we stop making payments?
Stephen's answer
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Answered on October 14, 2012
Hard to say. You can try to expedite it with a deed in lieu of foreclosure.
Archived
After chapter 7 discharge i decided to short sale do i have to claim the remaning balance as income?
Stephen's answer
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Answered on October 14, 2012
Why short sale the discharge injunction protects you from the debt and the debt forgiveness tax. A short sale is a fly in the ointment .
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