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Filed ch. 7 but the reaffirmation of the car was not filed before discharge. Case being opened to file reaffirmation, but will the repossession stay on the client's credit report?
The repossession should not appear on your credit report precisely because you didn't reaffirm the debt. All of your debts should be reported as discharged in bankruptcy.See question
My trustee filed for a dismissal of my Ch. 13 BK (California). Due to an increase of my Mortgage payment from the lender. I come to find out he had someone elses paperwork in my file. It's shocking no one caught this b4 it went this far. Is there ...
You mention that no one caught the error before it got this far, but do you have a lawyer? If you don't, you should. If the trustee made a mistake, your lawyer can bring it to his attention. If necessary, your lawyer can file an opposition to the trustee's motion to dismiss. If you must represent yourself, then contact the trustee.See question
I did not reaffirm my mortgage in a chapter 7 bk, discharged in 1/2014. The mortgage company lists it on my credit as discharged in bankruptcy. And when they discuss this loan with me they state they are not trying to collect on a debt that has be...
Of course they can! If we could keep our house for free just by filing a chapter 7 bankruptcy, every homeowner would file a chapter 7 bankruptcy. There is a distinction between personal liability and the lien. If you stop paying, the mortgage company can't come after you personally-- garnish wages or levy accounts, but they can AND WILL foreclose if you stop making payments.See question
Are the Schedule J expenses the same as the IRS allowable living expense national standards?
I agree that schedule J contains your actual expenses, but I'm glad you looked at the IRS standards before filing because I was once at a hearing where Judge Bowie told the debtor in another case, "that may be what you spend, but it is your decision to rent such an expensive apartment and drive such a fancy car. You may have the apartment and the car, but not at the expense of your creditors." in that case, the judge determined there was disposable income that could be used to pay creditors even though there technically wasn't.See question
I have a fairly simple Chapter 7 case filed. I went to the 341 meeting but the Trustee said I needed to ament two parts; the Statement of Related Cases (I had a previous Chptr 7 12 years ago because of a medical situation) and my Schedule C (the p...
We had a CH7 discharged 2 years ago. We have a second mortgage that we haven't paid on in 2.5 years that has a $95,000 balance. We have not had any communication with the lender. Would like to know what our options are and the repercussions that ...
I recently met with someone who lost his home in foreclosure. He was current on the first but never paid his second. A few years later, when the property had equity, the second foreclosed. At that point he was so behind, his $85,000 2nd had turned into a $165,000 debt, so he couldn't file a chapter 13 to get caught up over the course of 5 years. I don't mean to frighten you, I just want you to know that it IS possible for a second to suddenly initiate foreclosure proceedings after being MIA for a very long time, so explore your options.See question
I filed no assets chapter 7. At the meeting, the trustee thought I have too much in unsecured debts and he wants me to stipulate to extension of time allowed to object. He wants a 120-day extension, without prejudice for further extension. The sti...
He will get that extension with or without your cooperation, so your refusal to sign is only going to make him have to do more work. I doubt he or she will be very considerate after that.See question
I have a brothers stuff in my garage that's valuable he is in jail can I use this as a asset I don't own a house or car but only collect social security
I agree with the other attorneys' answers. There is no requirement that you own a certain amount of assets. Also, if your only source of income is from social security, you should still meet with a lawyer. Some of us charge substantially less in no-asset cases or where the debtor's income is below the median for a household of the same size. Also, some attorneys let you make monthly payments towards the retainer. Take advantage of a free consult.See question
Long story (posted in another question), but our HELOC lender is demanding payment in full and will not negotiate. If I file a CH13, I know the back-payments get spread over 5 years. What about the future (P&I) payments during the 5-year period?...
Be careful and meet with an attorney. I just had a client who didn't pay his second mortgage for 9 years and the second foreclosed. By the time the client sought advice to file for bankruptcy the originally $85,000.00 loan with interest and past due balance was $163,000.00. He couldn't afford to pay the arrears over the course of 5 years and the second foreclosed. It didn't matter that he was current on the 1st. The more time you give yourself to explore other options, including a loan modification, the better. I also recently had a client in a similar situation but he came to me before a notice of trustee's sale was recorded and he got a loan modification. Time is of the essence with these cases.See question
I have about $100,000 in credit card debts I cannot repay. I own a house and car both of which are free and clear and nothing more. Is it Chapter 7, 11, or 13? Thanks
How much is your home worth? How much is your car worth? How old are you? Are you married and living with your spouse? Do you have any dependents?See question