Our small company is faced with going out of business. Can chapter 7 work for us.

I agree with what the other attorneys have answered. I would add the caveat that unexpected consequences can sometimes occur in a Chapter 7 for a...

I am being sued for debt i did not pay after four years.This is loan from cash call what shall i do?

If you are truly beyond the statute of limitations, then you need to answer the lawsuit within the statutory 30 days or risk a default judgment. ...

Property discharged in Bankruptcy, mortgage co. has not foreclosed. What's my obligation?

As the other attorneys have said, you have no obligation on the mortgage. I have at least one former Chapter 7 client who filed in 2008 and the...

Can a partially paid promissory note be transferred to third party? The debtor is in bankruptcy.

As other attorneys have said, unless you are an insider, preferential payments are limited to those made in the 90 day period prior to the filing...

How can I get back the garnishment money that was taken?

Since the garnishment stopped, It sounds like the creditor sent the proper instruction to terminate the garnishment to the sheriff. If the...

It is not legit at all and is an example of really egregious behavior on the part of a debt collector. These people are not your friends. They...

I am disabled. I have a claim for personal injury that I won. Is this income or just an asset for Ch13 bankruptcy?

I think the award is both income that needs to be taken into account for means testing/Schedule I AND an asset that needs to be analyzed for...

Bankruptcy 90 rule

You "might" be able to recover such a preference if the funds would be exempt in your bankruptcy case. Assuming you are a consumer debtor, the...

Does it make sense to hire an attorney to help fix my credit report of what I think is fraudulent collection agency reporting?

It doesn't make sense to me to hire an attorney at this stage. I would first contact the collection agencies and inquire of the account. Maybe it...

Selected as the best answer

I have a trailer that I dont want. If I file Chapter 13 bankruptcy can I give it back and not pay any money on it?

Indeed, you might have to pay a large percentage of the $25,000 in a Chapter 13 if you are an income driven Chapter 13 payment plan that ultimately...