Archived
Brother declared BK7, wrote off my $50K loan I had given him to buy property. Can I cloud title?
Robert's answer
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Answered on March 02, 2011
If you do not bring an adversary action before the deadline, then you cannot cloud title or do anything to try collecting against him.
Archived
Can I settle a second mortgage loan in Los Angeles county, CA with the debt collectors?
Robert's answer
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Answered on March 02, 2011
The 2nd is unlikely to foreclose (non-judicial) because there would be no equity left to pay them. They might conducted a judicial foreclosure to...
Archived
If file amended chapter 7 sched f to list additional creditor & amend new matrix to list that creditor, will others get notice?
Robert's answer
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Answered on March 02, 2011
No. The court will send a notice only to the amended creditor.
Archived
Mortgage discharged in chapter 7 bankruptcy. Can I now short-sale the property instead of foreclosure? Taxable as income if I do
Robert's answer
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Answered on March 02, 2011
1. Yes. You can do it even during your bankruptcy by filing a Motion to Abandon the property;
2. If you want to do your friend a favor so that...
Archived
How important are assets vs. liabilities in a Chapter 13 Bankruptcy filing? The most significant creditor is the IRS.
Robert's answer
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Answered on March 02, 2011
Assets and Liabilities are just as important as your income. Chapter 13 is an individual debt repayment type of bankruptcy. The amount of money...
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