Archived
I want to file BK - will redeemed IRA funds sitting in bank waiting to be rolled-over to another IRA be taken away by trustee
Michael's answer
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Answered on June 27, 2011
The money needs to be rolled to the IRA in accordance with the tax laws or you run a risk. The amount of non-retirement cash you are allowed to...
Archived
As a creditor/condo assoc president, how do I file an extension to object to a debtor/condo unit owners debt in a Chapter 7?
Michael's answer
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Answered on June 27, 2011
I agree with the other comments but want to add that the association must be represented by an attorney in court. Unless you are an attorney you...
Archived
I filed bankruptcy in Texas on December 3, 2010 was discharged in March 1, 2011, need to amend my schedules but live in N.Y
Michael's answer
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Answered on June 27, 2011
From reading the question and the comments, it sounds like you have assets that need to be disclosed. If you fail to disclose an asset, that is in...
Selected as the best answer
Archived
What things can be omitted during the chapter 7 bankruptcy proceedings?
Michael's answer
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Answered on June 27, 2011
In filing a bankruptcy the debtor (person who files) is required to disclose many things including sale of assets in the last 2 years, existing...
Archived
When trustee cant get in contact with creditor and trustee file abandoned claim can the creditor come back and sue the debtor
Michael's answer
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Answered on June 26, 2011
The key to a bankruptcy discharge is notice to the creditor. Most debts are discharged but certain types of claims are not such as domestic...
Archived
If i filed a secured claim in a chapter 13 and it wasnt paid do i have to return it?
Michael's answer
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Answered on June 26, 2011
If the car was not paid, regardless of who is at fault, then it will be subject to repossession after the chapter 13 is finished. It's odd the...
"Reasonable" living expenses with Chapter 13
Michael's answer
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Answered on June 26, 2011
The law does allow the court to consider changes to income or expenses that are known or virtually certain to occur in the future.
Most of the...
Archived
Will a Deed in Lieu of foreclosure produce tax consequences if I have a chapter 7 bankruptcy pending?
Michael's answer
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Answered on June 26, 2011
The IRS form to look at is form 982 and can be found on the IRS website. Additionally, the comments made assume there would be no capital gain,...
Archived
I filed Ch 7 bankruptcy after 1998 and was granted a discharge. My question is: was the student loan discharged?
Michael's answer
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Answered on June 26, 2011
I agree with the other comments made but wanted to ask if you have been contacted, billed or been making payments since 1998? If you have not made...
Archived
We were discharged out of chapter 7 bankruptcy 3 mos ago, my husband was not making enough money to buy back the equity in the
Michael's answer
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Answered on June 21, 2011
At this point, title to the truck is held by the bankruptcy estate which is controlled by the trustee. You can't sell it without violating the...
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