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Dorothy G Bunce
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Dorothy Bunce’s Answers

22,264 total


  • What falls under medical reasons to not wait the two year waiting period after filling a ch7 Bankruptcy to apply for hm loan ?

    I took a medical leave of absence from work just a few weeks after filling. I was going through so much stress that lead up to this and my one year daughters father abandoned her. I was left w all of the financial hardship to care for her alone su...

    Dorothy’s Answer

    The decision of how soon after you file bankruptcy you can get a mortgage loan is a decision individual lenders make. While some may have policies about lending earlier to someone with medical problems, the lender has a right to establish their own terms to waive their ordinary requirements. Many people go hitting their heads against a brick wall trying to find a loophole, but I suggest avoiding the problem and looking for a good lender that will not require a 2 year wait to anyone. Like a local credit union. Hope this perspective helps!

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  • Can unpaid child support affect your credit history?

    Like can this result in an adverse credit history.

    Dorothy’s Answer

    When any creditor gets a court judgment saying you owe money, it becomes a public record and will stay on your credit report a good long time. Yes, it will seriously damage your credit. Since many child support cases are handled by government agencies, these agencies can report the debt to the credit bureau as well, even before a judgment is entered. Hope this perspective helps!

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  • Do you have to state why you're disputing an item when you dispute an item on a credit report?

    I'm disputing my credit report. 2/3 creditors have given me investigation results. Transunion, on the other hand, has been trying to stall their investigation. They have sent me forms to verify my new address, which I have already done. Now, they ...

    Dorothy’s Answer

    All the credit reporting companies ask for a generic reason for the dispute in order to make sure that your claim isn't for an invalid reason like "forgot to pay just this once," "can't afford to pay" or "creditor is rude and my feelings are hurt." Legitimate reasons are not my debt, never late, past date for reporting, discharged in bankruptcy, etc. Hope this perspective helps!

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  • Would my social security,IRAS or 401k be garnished if I don't pay common charges on my co-op.I am 68 and retired. Y

    I want to move out but hard to sell and there is a moratorium on renting here.There are multiple units here for sale that have been on market a long time

    Dorothy’s Answer

    Both state and federal exemptions protect your pension benefits but in many states, failing to pay common charges on a co-op can cost you the title to this property. This right is based on laws that find common charges to be like a municipal lien for utilities and can result in your homestead exemptions to be meaningless as to this particular debt. More info at the link below, but you will need advice from a NY attorney for a more certain answer. Hope this perspective helps!

    Bankruptcy Exemptions http://www.bcsalliance.com/bankruptcy_stateexemptions.html

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  • There is a lawsuit filled for the debt 18k and 5K.

    Hi, There is a lawsuit filed against me for the unsecured personal loan debt i owe ($18k+5k) This is filled with the same agency. Due to my current situation i am not in a position to pay/settle that amount. How can i proceed in this situation? I...

    Dorothy’s Answer

    "Can't afford to pay" is not a legal defense to a lawsuit. Once a creditor obtains a court judgment against you, only state exemptions are available to protect you. See link below. In most instances, state laws allow a judgment creditor to garnish your wages to collect, and garnishment come with many other problems, including the fact that the garnishment is structured so that while interest and legal fees get paid, virtually nothing will go towards paying off the debt principal, meaning that the garnishment can continue for many years. Without changing your circumstances so that you are in a position to pay or settle, your remaining option is bankruptcy. Hope this perspective helps!

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  • Why does the first loan holder sell the loan upon finding out of bankruptcy?

    I have a student loan and filed bankruptcy ch 7. My student loan was sold to another guarantor.

    Dorothy’s Answer

    Loans get sold all the time for many reasons, especially if the loan is in default. The fact that you filed bankruptcy may just be a coincidence. Hope this perspective helps.

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  • Statue of limitations credit/debit in CT question

    I got a letter saying I have a judgment for a credit card I opened in 2007 they did not sue me until 2015 isn't there a 6 yr statue of limitations in CT for when they can sue you? If so this is past that 6 yrs is there any way u can fight the judg...

    Dorothy’s Answer

    If you already have a judgment, it means that your time to claim the sol as a defense has passed. In most states, you must actively asset the sol in the lawsuit, and if you fail to do this, the judgment can be valid. BTW, the sol is generally measured not from when the account was opened, but from when the account became in default. That is usually 30 days after the last time you paid or used the account. So if you made payments on the account in 2008, or even admitted that you owed this debt in 2008, you might not have even been eligible to use the sol as a defense. This law is not as cut and dried as you may have thought. Hope this perspective helps!

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  • What can be done to me if I loose case?

    I'm going to trial sept. 9 2016 I'm being sued by Discover credit card, I was up to date on all my bills till around June of 2015, I had been given 24hr care to my aging parents 89 and 88 also lived in there home sleeping on floor most of time, I'...

    Dorothy’s Answer

    "Can't afford to pay" is not a legal defense to a lawsuit, but the good news is that state exemptions may fully protect you as long as you keep only your SSI money in one account, your Wife's SSI money in another account, and any other money (if any) in a third account. More info at the link below. Hope this perspective helps!

    Bankruptcy Exemptions
    http://www.bcsalliance.com/bankruptcy_stateexemptions.html

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  • Government income and chapter 7?

    My elderly father is potentially considering filing for Chapter 7. We read that his SSA income is exempt income but he is concerned about his VA money. My father receives a substantial amount, monthly payment never received a lump sum, from the VA...

    Dorothy’s Answer

    Any money received other than social security must be included in the Means Test, so absolutely, VA disability income must be included in the Means Test. But the Means Test is usually just a distraction from the more important but lesser known "good faith test." Fail the Means Test and you can still qualify for Chapter 7 if you pass the good faith test. Pass the Means Test and you can be denied Chapter 7 if you fail the good faith test. Calculating the good faith test takes a lot more effort than just looking at a median income table on a chart and jumping to conclusions that may or may not be warranted. More info at the link below. As to whether a trustee can take savings, if the money is just from VA, then state exemptions may provide help. However, if, like many people, both social security and VA income is combined in a single account, co-mingling could destroy the right to the exemption for disability. So he could lose all of his savings if an exemption isn't worded just so. See the 2nd link. Dad needs the best bankruptcy attorney he can find if he wants to pursue chapter 7. Hope this perspective helps!

    Good faith test
    http://www.avvo.com/legal-guides/ugc/the-good-faith-test---the-only-thing-you-need-to-know-about-qualifying-for-chapter-7-bankruptcy

    Bankruptcy Exemptions
    http://www.bcsalliance.com/bankruptcy_stateexemptions.html

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  • What can I do if a am about to be served for a old debt I had when I was 20.

    I have a debt with Verizon probably 4 or 5 years old and I no longer have any information on my account. I stopped paying when i quit working and I just know I had 5 lines with people I knew. I might owe 2k but I am unsure if that is the right amo...

    Dorothy’s Answer

    You have the right to oppose the suit by filing legal documents with the court and let the judge decide. Or you can see if you can settle this matter outside of court. No doubt, having a court judgment will hurt your credit for many years. Hope this perspective helps!

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