Is it ok to take out a 401k loan to pay the lawyer for a chapter 7 bankrupcy?

You are not supposed to incur debt in contemplation of bankruptcy. Perhaps take a withdrawal so you do not create a monthly obligation.

I attended 341 meeting. I was required to provide additional bank statements to supported my answer to

The trustee is entitled to investigate your financial affairs and you are required to cooperate. My guess is that the trustee wants to make sure...

Filing bankruptcy creates a stay protecting you from creditors. Lifting that stay means you lose the protection as to that creditor. In order for...

3rd and final 341 Mtg with Trustee. No lawyer. Completed myself. He requested the following:

If you do not have last year's tax return the law permits you to give the trustee a transcript from the IRS. You can call the IRS and have a...

My husband and I own an S Corp. Would it be smart of us to put one of our vehicles in the Business name before filing Chapter 7?

Putting the vehicle in the name of the corporation (or anyone else) is a bad idea because it's fraudulent. The only thing you can do is sell it...

Just received my discharge for chapter 7 bankruptcy July 27, 2011. Can i take money out of my government deffered compensation 4

Once you get a discharge the court's jurisdiction ends as to all assets you listed in your schedules. So, if you listed the 457 in schedule B of...

I'm inside the 8 year window from a previous chapter 7 discharge about 9 months to be exact. I'm reading here that there are

Filing a new bankruptcy and getting a discharge are two separate things. When you file the court automatically schedules a 341 hearing. The Order...

My bankruptcy attorney said we should make our renters leave as we are filing bankruptcy.

One initial question: what chapter of bankruptcy? In chapter 7 a trustee would take charge of all assets and liquidate the assets to satisfy...

I filed BK 7 5/5/2004 and was discharged around 8/2004. Due to unavoidable financial crisis and medical disability

In California we have exemptions under state law that give people some protection separate from bankruptcy. Since you are not entitled to a...

Can u file a chapter 13 and/or second mortgage cramdown if we had previously filed a chapter 7 which was discharged over a year?

You can file a chapter 13 after chapter 7, the question is what will it do? The law is unsettled but the trend is remove a second mortgage if the...