Questions answered by Clifford Sculley Bordeaux

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What us 522(b)2

Clifford's answer | Answered on December 24, 2009

Please note that the answer above only applies if you have resided in California for at least 2 years (technically 730 days). I would like to...

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Can we file chp 7 bankruptcy if we make more then 75 thousand annually

Clifford's answer | Answered on December 23, 2009

I would like to add the following points to the post above: 1. The means test sometimes has surprising results. I have seen debtors with incomes...

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What us 522(b)2

Clifford's answer | Answered on December 23, 2009

This is a code section of the United States Bankruptcy Code. This section (along with 522(d) describes the exemptions available to debtors under...

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After chapter 13 was dismissed - non payment can it still be "CONVERTED" to a 7 or do I have to start over to file a 7?

Clifford's answer | Answered on December 22, 2009

It is too late to convert, which means that you are stuck paying the Chapter 7 filing fee ($299). The attorneys' fees are negotiable and you may...

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Can I keep both my houses under chapter 13

Clifford's answer | Answered on December 22, 2009

So long as you are within the Chapter 13 debt limits (no more than around $330,000 of unsecured debt and $1,010,000 of secured debt) you should be...

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What do we need to do to protect ourselves when we are half owners of a property but the only ones on the loan?

Clifford's answer | Answered on December 22, 2009

Did the mother in law have a living trust? If so, check the trust for specific instructions, if any, regarding repayment of debts and distribution...

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If I Got a Loan on my hose but the trust deeds has all of my brothers and sisters on it now they want to take the hose what do?

Clifford's answer | Answered on December 22, 2009

I presume you meant to say that the loan is on your "house." Also, I assume that you mean that you obtained the loan, but you subsequently...

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My house is worth $200K, my mortgage is $167K and my HELOC is $138K. After Ch 7, will all but 33K be discharged?

Clifford's answer | Answered on December 12, 2009

If you keep the house in a Chapter 7, you must pay both debts. If you keep the house in a Chapter 13, the lien strip only works if the property...

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If my husband is filling chapter 7 and i dont need or want to file how does it affect me?

Clifford's answer | Answered on December 09, 2009

Even a separate bankruptcy filer must report their spouse's income and assets. The purpose is to get a true sense of the financial resources of...

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Can I discharge 2nd mortgage on Chapter 7, where 1st is valued lower than home value?

Clifford's answer | Answered on November 17, 2009

No. But in a Chapter 13 case it is possible to file a motion (or adversary proceeding) to "lienstrip" the second mortgage. If you prevail in...

Clifford Sculley Bordeaux's Answers (91)

What us 522(b)2

Can we file chp 7 bankruptcy if we make more then 75 thousand annually

What us 522(b)2

After chapter 13 was dismissed - non payment can it still be "CONVERTED" to a 7 or do I have to start over to file a 7?

Can I keep both my houses under chapter 13

What do we need to do to protect ourselves when we are half owners of a property but the only ones on the loan?

If I Got a Loan on my hose but the trust deeds has all of my brothers and sisters on it now they want to take the hose what do?

My house is worth $200K, my mortgage is $167K and my HELOC is $138K. After Ch 7, will all but 33K be discharged?

If my husband is filling chapter 7 and i dont need or want to file how does it affect me?

Can I discharge 2nd mortgage on Chapter 7, where 1st is valued lower than home value?