Questions answered by Michael John Primus

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If i declare personal Chapter 7, is my company (a 1-member LLC) ok to keep open even if i had a personally guaranteed SBA Loan?

Michael's answer | Answered on July 03, 2011

If the LLC was liable for the SBA debt then your ch 7 will not change that. You may look at closing the business and/or filing a bankruptcy for...

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I set up a bank account in trust for my son (not under UGMA or UTMA), and may need to file Ch. 13. His Dad put all $ except $20

Michael's answer | Answered on July 01, 2011

The bankruptcy estate includes all legal and equitable interests you have. Conversely, just because something is in your name does not make it...

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Chapter 13. My home has 2 loans on it. A mortgage and a home equity line.

Michael's answer | Answered on July 01, 2011

I agree with the other answers. Co-signed debts are a big problem.

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If you have Filed for Ch 7 BK and do withdraw voluntarily, how long do you have to wait before filing again? (In Florida)

Michael's answer | Answered on July 01, 2011

I agree with the other answers but want to add that if you fail to provide tax returns and pay advices (paystubs or other documents to show your...

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Omitted Property in Chapter 7

Michael's answer | Answered on July 01, 2011

Yes, you should reopen the case and amend schedule B to list the claim and amend schedule C to claim it exempt. Technically any asset not listed...

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In chapter 13! Will receive personal injury settlement...can b.c. take the settlement?

Michael's answer | Answered on June 30, 2011

The answer is unfortunately more complicated. What assets are (or are not) part of the bankruptcy after a chapter 13 is confirmed is messy. The...

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In California isn't against the law for a mortgage company to pay property taxes in a Chapter 13 and then request you pay them?

Michael's answer | Answered on June 30, 2011

The lender is allowed to pay the property taxes. Consider modifying your plan so that those taxes are not scheduled to be paid in your chapter 13....

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If my company filed chapter 11 do they still have to pay me my retroactive salary bi weekly

Michael's answer | Answered on June 30, 2011

Filing chapter 11 gives the company many options. Generally chapter 11 is to reorganize but what you will get and when is uncertain. Another...

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Mortgage/foreclosure....chap13 to a chap 7...Many thanks to all who have replied..:-))

Michael's answer | Answered on June 29, 2011

Glad to help. As stated in response to your prior question, converting to ch 7 will not create a new stay. Dismissing ch 13 and filing a new ch 7...

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Chapter 13 and paying behind mortgage Payments

Michael's answer | Answered on June 29, 2011

You are in a common but tough situation. Most courts will not allow you to add post petition (after bankruptcy is filed) mortgage payments to a...

Michael John Primus's Answers (517)

If i declare personal Chapter 7, is my company (a 1-member LLC) ok to keep open even if i had a personally guaranteed SBA Loan?

I set up a bank account in trust for my son (not under UGMA or UTMA), and may need to file Ch. 13. His Dad put all $ except $20

Chapter 13. My home has 2 loans on it. A mortgage and a home equity line.

If you have Filed for Ch 7 BK and do withdraw voluntarily, how long do you have to wait before filing again? (In Florida)

Omitted Property in Chapter 7

In chapter 13! Will receive personal injury settlement...can b.c. take the settlement?

In California isn't against the law for a mortgage company to pay property taxes in a Chapter 13 and then request you pay them?

If my company filed chapter 11 do they still have to pay me my retroactive salary bi weekly

Mortgage/foreclosure....chap13 to a chap 7...Many thanks to all who have replied..:-))

Chapter 13 and paying behind mortgage Payments