Questions answered by Malcolm Ruthven

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$500 cash was not exempted under 704?

Malcolm's answer | Answered on December 07, 2011

I don't agree that bank deposits in general can be exempted under 704.080. Section 704.080 of the bankruptcy code exempts "Deposit account with...

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Losing the car in a bankruptcy?

Malcolm's answer | Answered on December 06, 2011

The prior answer is a very good one. I'll add that you're in way over your head and need to consult with a qualified bankruptcy attorney in your area.

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A judgement was filed against me and my business can i file bankruptcy and still keep my business

Malcolm's answer | Answered on December 06, 2011

You need to run, not walk, to consult with a qualified bankruptcy attorney in your area. There are so many potential issues in your question that...

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Do I need to file bankruptcy, if I havent paid the creditors in over 3 years? I also had a home and did cash for keys.

Malcolm's answer | Answered on December 05, 2011

You've received two good answers. I'll add that whether it would be a good idea for you to file bankruptcy at this time depends on your entire...

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I have a rental property in Cailfornia, I owe $91,000.00 and am upside down at least $40,000.

Malcolm's answer | Answered on November 07, 2011

You would be personally liable for any deficiency remaining on that mortgage after a foreclosure sale. Whether the mortgage holder could collect...

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Can I Withdraw BK Filing if Student Loan Debt Can't be Discharged?

Malcolm's answer | Answered on November 02, 2011

Filing a Chapter 7 bankruptcy is like jumping into the deep end of the pool. You'd better be prepared to swim because you can't "unjump" back out....

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Chapter 7. Will the court or trustee take issue with the fact that I funded by Bankruptcy thru a family gift? need to hire atty

Malcolm's answer | Answered on November 02, 2011

I agree that a gift to pay for your bankruptcy would be no problem, but I also feel that a loan from family members would also not be a problem....

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I filed chapter 7 bankruptcy but did not include the house, am i able to add it now even though we have already seen trustee?

Malcolm's answer | Answered on November 02, 2011

You needed to list all your assets (things you own) and all your debts in your bankruptcy filing schedules. If you didn't list your share of the...

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If I pay off a few credit cards before I file for bankruptcy, can I keep them or will all my credit cards be closed?

Malcolm's answer | Answered on November 01, 2011

You've received three very good answers, and I'll just add that considering that paying off some credit cards before filing bankruptcy probably...

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If you file Ch 7 and face foreclosure can you keep the money you have in an investment account?

Malcolm's answer | Answered on October 29, 2011

That money in the investment account, assuming it's not a valid retirement account, would need to be "exempt" under Florida law, and specified as...

Malcolm Ruthven's Answers (817)

$500 cash was not exempted under 704?

Losing the car in a bankruptcy?

A judgement was filed against me and my business can i file bankruptcy and still keep my business

Do I need to file bankruptcy, if I havent paid the creditors in over 3 years? I also had a home and did cash for keys.

I have a rental property in Cailfornia, I owe $91,000.00 and am upside down at least $40,000.

Can I Withdraw BK Filing if Student Loan Debt Can't be Discharged?

Chapter 7. Will the court or trustee take issue with the fact that I funded by Bankruptcy thru a family gift? need to hire atty

I filed chapter 7 bankruptcy but did not include the house, am i able to add it now even though we have already seen trustee?

If I pay off a few credit cards before I file for bankruptcy, can I keep them or will all my credit cards be closed?

If you file Ch 7 and face foreclosure can you keep the money you have in an investment account?