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Jeffrey Erich Foster
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Jeffrey Foster’s Answers

50 total


  • Being sued for an accident but my insurance an only cover 45k and the person that I got in an accident with has 36k med bills.

    What can I do in this situation.?? I live in a home but have mortgage, two kids, and my spouse. We make less than 50k a year. Not many assets. What should I do?

    Jeffrey’s Answer

    In addition to promptly notifying your insurance company of the lawsuit, you may also wish to seek out the opinion of a lawyer who is not appointed by the insurance company but who is experienced in personal injury law to advise you. A consultation with a bankruptcy attorney at some point may also be beneficial. Good luck.

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  • After notice of default how long can I stay in my property

    In WA state how long can I live in my property after recieving my default notice. As of Feb 1 I am 90 days past due All my other bills are current as I trying to only have the foreclosure on my credit

    Jeffrey’s Answer

    The answer to your question depends on how quickly your lender takes action. The first required notice under Washington law in a non-judicial foreclosure is the notice of default. This notice gives you 30 days to bring your arrears current. If you do not do so, a second notice called a notice of sale is required. The notice of sale provides you with an additional 90 days to bring the arrears current.

    There are steps you can take (such as a bankruptcy filing or the filing of a temporary restraining order in state court) that may act to delay this process.

    Please note, this is not legal advice and should not be construed as such.

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  • Start a real estate corporation

    I currently own 6 rental properties. My question is that I want to start a corporation to build business credit, but I do not know what style of corporation to have. The idea behind this is that I want to buy real estate under a corporate name an...

    Jeffrey’s Answer

    Forming an LLC or Subchapter S corporation may be a good idea to build business credit. However, if your intention is to transfer properties that are subject to mortgage loans to the newly created entity, you may trigger a due-on-sale provision in the promissory note(s). The due-on-sale provision usually mandates the acceleration of the mortgage loan if title is transferred from the original borrower. While it is not likely the lender will accelerate the loan, it may have the contractual ability to do so.

    In planning for your choice of entity and the legal ramifications of incorporating, I recommend you retain an attorney in your area whose practice involves both real estate and business law. Best of luck.

    The information above is not legal advice and should not be relied upon for any reason whatsoever. Furthermore, this information does not establish an attorney-client relationship.

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  • Will it say foreclosure on my credit report if my house was included in my Bankruptcy and can I get another loan if I walk away?

    My husband and I filed Chapter 7 Bankruptcy our house was not reaffrimed three years ago. We are having trouble making the payment and can not get refinancing. We are considering walking away. What will foreclosure be reported on our credit report...

    Jeffrey’s Answer

    If your loan was discharged in the Chapter 7, the lender is barred from reporting a foreclosure on the credit report if you did not enter into a reaffirmation agreement. Whether you can qualify for another loan will depend on a number of factors including but not limited to: (1) income (2) open/available credit lines and credit history on the lines (3) the type of loan you are seeking (i.e. fha, va, fannie mae, etc.) and (4) down payment. For more information on obtaining a new home loan, I recommend you consult with several different lenders (I prefer credit unions) to inquire about current underwriting guidelines.

    This answer is for informational purposes only and is not legal advice and should not be relied upon for any reason whatsoever.

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  • When mixing a Bkrptcy case and Personal injury lawsuit, can my money be taken b4 received for the lawsuit if i have been dischgd

    I filed for Ch7 BKrptcy in 2008. I also had a Personal Injury accident involving my vehicle and FORD. I had filed a lawsuit against FORD becuz i am permanently disabled according to my Dr. I have received my final decree in April 2009 for the Bkrp...

    Jeffrey’s Answer

    I recommend you consult with your bankruptcy lawyer to determine the extent (if any) your personal injury claim is exempt. Then, your bankruptcy lawyer can discuss your case and the relationship between the accident and your bankruptcy with your personal injury lawyers. It is important to utilize a lawyer's expertise when dealing with these matters since the bankruptcy court maintains jurisdiction over your non-exempt assets.

    Best of luck.

    NOTE: This answer is made available by the lawyer for educational purposes only. By using or participating in this site you understand that there is no attorney client privilege between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed professional attorney that practices in the subject practice discipline and with whom you have an attorney client relationship along with all the privileges that relationship provides. The law changes frequently and varies from jurisdiction to jurisdiction. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question.

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  • Can a Landlord send you to collections without notice

    I'm getting calls from a collection agency stating my previous lanlord is charging me for damages that I believe should be considered normal wear and tear. There was no move in, or move out checklist.. There has also been no communication betwee...

    Jeffrey’s Answer

    There are certain requirements that a landlord must undertake within a certain number of days under Washington law following your move-out date. I recommend you consult with a lawyer who handles landlord/tenant issues to learn more about your legal rights related to this issue. You may also want to send a certified letter to the collection agency disputing the debt as soon as possible.

    Best of luck.

    NOTE: This answer is made available by the lawyer for educational purposes only. By using or participating in this site you understand that there is no attorney client privilege between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed professional attorney that practices in the subject practice discipline and with whom you have an attorney client relationship along with all the privileges that relationship provides. The law changes frequently and varies from jurisdiction to jurisdiction. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question.

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  • What happens if i came into some money after a bankruptcy has been filed and the debts discharged?

    If I inherited some money, or won it would I be able to keep it after the judge signed off on the chapter 7?

    Jeffrey’s Answer

    The bankruptcy court retains jurisdiction over inheritances that "vest" within 6 months after you file your Chapter 7 case. You are required to disclose the inheritance to the trustee of your bankruptcy case if someone dies within 6 months of your Chapter 7 filing and the person's death results in you receiving money through an inheritance. In other words, its not the receipt of the inheritance but rather a person's death that gives rise to your right to receive the inheritance. If you fail to disclose the inheritance, the bankruptcy trustee will re-open your bankruptcy case and will likely seek to deny your discharge.

    I recommend you contact your bankruptcy lawyer to discuss the specifics of your situation. Best of luck.

    NOTE: This answer is made available by the lawyer for educational purposes only. By using or participating in this site you understand that there is no attorney client privilege between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed professional attorney that practices in the subject practice discipline and with whom you have an attorney client relationship along with all the privileges that relationship provides. The law changes frequently and varies from jurisdiction to jurisdiction. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question.

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  • What would be the affect on my credit if husband defaults on part of CC balance? I am not the primary card holder or a user.

    My husband is disabled and no longer able to pay. It is becoming harder for me to pay them. He has been denied SS Disability.

    Jeffrey’s Answer

    If you are an authorized user on the credit card, you likely maintain the same liability as he does on the credit account. You may want to contact the credit card issuer and request documentation on the credit card to determine the extent of your liability on the card. I also recommend you consult with a bankruptcy attorney in your area to learn more about options for debt settlement and/or bankruptcy.

    Best of luck.

    NOTE: This answer is made available by the lawyer for educational purposes only. By using or participating in this site you understand that there is no attorney client privilege between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed professional attorney that practices in the subject practice discipline and with whom you have an attorney client relationship along with all the privileges that relationship provides. The law changes frequently and varies from jurisdiction to jurisdiction. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question.

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  • May I keep my condo which I am in the process of a mortgage loan modification and file for bankruptcy on the other debts?

    I am in the process to have a mortgage loan modification to pay less a month, however, even with the loan modification I am not making enough money every month to cover all my debts. After signing for the loan modification, may I keep my condo if...

    Jeffrey’s Answer

    Whether you can keep your condominium and still file for bankruptcy depends on a number of factors. First, you will want to determine what type of bankruptcy best suits your needs. A Chapter 7 or Chapter 13 may be available for you. Second, you will need to consult with a Florida bankruptcy attorney to determine the homestead exemption available in the state of Florida. The homestead exemption protects your condominium from sale in a Chapter 7 case and has implications in a Chapter 13 as well. Third, you will want to ask your bankruptcy lawyer the impact of a loan modification in bankruptcy. If you have yet to complete your modification, you may want to wait until it is completed before filing any type of bankruptcy.

    Best of luck.

    NOTE: This answer is made available by the lawyer for educational purposes only. By using or participating in this site you understand that there is no attorney client privilege between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed professional attorney that practices in the subject practice discipline and with whom you have an attorney client relationship along with all the privileges that relationship provides. The law changes frequently and varies from jurisdiction to jurisdiction. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question.

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  • Should I file bankruptcy or try debt consolidation??

    I've had my home foreclosed upon in San Antonio, Texas. I've also had multiple credit cards that have been sent to collections and have other assorted bills in collections as well. I obviously have had a rough few years and am trying to rebuild my...

    Jeffrey’s Answer

    Bankruptcy may be an excellent option to explore. If you have a deficiency judgment from the San Antonio foreclosure along with the credit card and collection debt referenced in your question, a Chapter 7 or Chapter 13 bankruptcy is, in my opinion, the best way to either eliminate or restructure your unsecured debt. Whether you should file a Chapter 7 or Chapter 13 depends on a number of factors such as your income, assets, as well as your financial dealings with relatives over the past year. I do not recommend debt consolidation.

    I recommend you consult with a bankruptcy lawyer in your area. Most bankruptcy lawyers offer a free consultation.

    Best of luck.

    NOTE: This answer is made available by the lawyer for educational purposes only. By using or participating in this site you understand that there is no attorney client privilege between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed professional attorney that practices in the subject practice discipline and with whom you have an attorney client relationship along with all the privileges that relationship provides. The law changes frequently and varies from jurisdiction to jurisdiction. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question.

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