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Raymond Bryan Kidder Jr.

Raymond Kidder’s Answers

6 total

  • Am I responsible for the unpaid balance of a corporate credit card?

    I left the employ of a company 4 years ago that has since gone out of business. While I was employed there I was given a company credit card with my name on it to make purchases for the office such as office supplies, etc. The card was surrendered...

    Raymond’s Answer

    As long as you did not sign an agreement with the credit card company promising to personally guarantee the company's debt on that card, you should not be liable. The facts given suggest you were simply an "authorized user" of the company's credit account. If you have any reason to believe that you signed the credit agreement for that company, you should contact an attorney immediately to discuss your rights and responsibilities.

    Collection agencies will often call to try to collect from folks that do not actually owe the money, but can be tricked into believing they do. Looks to me like that is what is happening here!

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  • After divorce/bankruptsy we got back together. Home that was discharged on both bankruptsies was loan modified, however when

    on monthly payment paperwork, it stated for info purposes only, not a bill, even though it was paid as bill. after calling mortgage company many times i was told to refer to bankruptsy paperwork, which stated the house was discharged. we have si...

    Raymond’s Answer

    As long as you did not sign a "reaffirmation agreement" in your bankruptcy on this mortgage, you should not have to worry about any personal liability from walking away from the loan. Even if you had signed such an agreement, assuming this is a non-judicial foreclosure, as most are in Washington State, you would not be on the hook for any deficiency on the loan from the foreclosure. Nothing keeps you from listing the property for a short sale if you're interested in keeping a foreclosure off your credit record.

    You might want to contact a bankruptcy attorney to take a quick look at your bankruptcy paperwork to give you some clarification.

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  • Income lost when can we apply for a modification on ch13

    If I lose my job in a few days and we are in a full payment plan, can we ask for a modification to help until we can go back to our regular full payments?

    Raymond’s Answer

    I agree with the responses above. In some circumstances a "Motion to Suspend Plan Payments" may be an appropriate way to keep a confirmed case from getting dismissed if you need to miss a few payments from temporary loss of income, but will still require you to get caught up on those payments missed over the life of the plan. Obviously, good communication between your attorney and the trustee's office is essential if you were to face such a change in circumstances.

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  • My ex wife filed bankruptcy on the auto loan I had co signed for during the marriage. How can I fight the 1099 c and the IRS?

    As the result of a divorce settlement my ex wife was granted possession of a car purchased during our marriage with a 6 month window to refinance the auto loan into her name solely removing me as the co signer. Because the loan was not refinanced...

    Raymond’s Answer

    If the creditor filed a 1099-C under your social security number with IRS, they have made a statement to the IRS that they have forgiven debt you would otherwise owe them because you cosigned. By co-signing, you guaranteed her debt on that car loan and her bankruptcy discharge will not wipe out your obligation to the bank for that loan as co-signer. However, it appears that the bank (perhaps by mistake) has written you off and reported the debt as forgiven to the IRS.

    If anything, this could be construed as good news, because it would be better to owe the IRS a small fraction of the total balance than to be on the hook with the car lender for the full deficiency amount that you guaranteed. Furthermore, you could always potentially qualify for an exemption from that tax liability if you could show the IRS that you were insolvent at the time of the debt's cancellation. And, if your ex-wife filed a Chapter 7, it did not necessarily discharge her liability to you under the divorce decree to take responsibility for the car loan if she agreed to the "hold harmless" provision commonly found in Washington State divorce decrees. Thus, you could potentially hold her responsible in court for any amount you had to pay (to the IRS or otherwise) to deal with this debt.

    This is a complex issue and I would encourage you to contact a Washington State attorney with experience dealing with bankruptcy and cancellation of debt issues to give you a thorough analysis of your options.

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  • Can I defer my current credit card debt while I go back to graduate school?

    I have roughly $4500 worth of credit card debt, that I have not paid on in roughly 90 days because I stopped working to get a doctorate in pharmacy (Pharm D). My student loan company allowed me to defer my payment until I finish school. Can I do...

    Raymond’s Answer

    Unfortunately, I know of no program with credit card companies where you can defer paying debt because you are enrolled as a student.

    In addition to the damage to your credit score caused by missing payments, the credit card companies may ultimately sue you to collect on the outstanding balance. I would encourage you to talk to a local attorney about options to deal with your debt.

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  • Can a company file a lien on home after the debt was discharged in chapter 7 bankruptcy?

    We filled for chapter 7 in 2009. We have a culligan water system on that filing that we still owed on. Well it was discharged in the bankruptcy. I just found out they filled a lien against my home for this, is this legal?? Can they do that?

    Raymond’s Answer

    You should definitely have a local bankruptcy attorney take a look to determine the nature of the lien involved and whether it attached to your property before or after the bankruptcy filing.

    Many possibilities exist here depending on whether this was a consensual lien you granted the contractor of the water system, a mechanic's lien, or a judgment lien. An experienced attorney can review the county records, your contract with the installer/supplier that installed the system, and your bankruptcy petition to let you know whether anything can be done.

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