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Michael D. Siegel
You will not be able to discharge the IRS claim if you have a plan.  The rest of your analysis is correct, subject to review of the documents.  IRA accounts are generally exempt, and the other debt is presumptively dischargeable.
You will not be able to discharge the IRS claim if you have a plan.  The rest of your analysis is correct, subject to review of the... Read More
Bankruptcy Attorney Mark J. Markus
I'm not sure I understand your question.  If you file bankruptcy you must list all your assets and all your debts.  If you owe a debt to your ex, then you must list her as a creditor.  If you're asking whether the debt is dischargeable, that's a different question entirely and... Read More
I'm not sure I understand your question.  If you file bankruptcy you must list all your assets and all your debts.  If you owe a debt to... Read More
John C. Renzi
A Bankruptcy is a federal action.  Per the Illinois statutes, only Illinois exemptions are allowed.  However, those are in the Illinois statutes and, as such, applicable to being asserted in any state action, such as collection.  Therefore, a Bankruptcy is not needed to assert the... Read More
A Bankruptcy is a federal action.  Per the Illinois statutes, only Illinois exemptions are allowed.  However, those are in the Illinois... Read More
Bankruptcy Attorney Mark J. Markus
Different attorneys charge different amounts.  Fees depend on the complexity of your case, which chapter you are filing and other considerations.  Fees for a Chapter 7 case generally range from about $2,250-$2,500 including all fees and costs.   I am happy to give you a free phone... Read More
Different attorneys charge different amounts.  Fees depend on the complexity of your case, which chapter you are filing and other... Read More

If I file for bankrupcy, could I lose my car?

Answered 13 days ago by attorney John C. Renzi | 1 Answer

Legal Topics: Bankruptcy

John C. Renzi
As you have said, it appears that BK7 is your only option.  There seems to be a lot of debt and you have no ability to service that debt.  A chapter 13 needs regular income, which does not exist at present.  Unfortunately, that also impacts your your ability to pay the car... Read More
As you have said, it appears that BK7 is your only option.  There seems to be a lot of debt and you have no ability to service that debt. ... Read More
Bankruptcy Attorney Mark J. Markus
Same answer as I gave on your duplicate post.
Same answer as I gave on your duplicate post.
Bankruptcy Attorney Mark J. Markus
Yes it counts as income on both the means test and on your current income/expense test.
Yes it counts as income on both the means test and on your current income/expense test.
John C. Renzi
First, the July, 2017 date may not be a true deadline.  Yes, the income would be combined on the CMI, but that is for 6 months prior.   Depending on your respective incomes and dependants, this might not pose any "legal barrier" to a BK7. However, he may wish to have a "fresh start"... Read More
First, the July, 2017 date may not be a true deadline.  Yes, the income would be combined on the CMI, but that is for 6 months... Read More
Bankruptcy Attorney Mark J. Markus
If your case was a no-asset Chapter 7 case, then the failure to amend to add a creditor is of no consequence.  The debt was discharged even though it wasn't listed.  But sure, you can sue anybody for anything.  If you paid them to do something, and they didn't do it, you should get... Read More
If your case was a no-asset Chapter 7 case, then the failure to amend to add a creditor is of no consequence.  The debt was discharged even... Read More
Bankruptcy Attorney Mark J. Markus
If the reverse mortgage is the only debt against your home and it is really worth $800,000, you have more equity than you can protect in a Chapter 7 case, and would have to provide for close to a 100% repayment of the debt in a Chapter 13 case and that would require a payment of close to $1,000 per... Read More
If the reverse mortgage is the only debt against your home and it is really worth $800,000, you have more equity than you can protect in a Chapter 7... Read More
Matthew A. Dunaway
I need to know a few things before I can answer your questions: 1.  How much is your house worth?  How much do you owe on it? 2.  What kind of car do you have (make, model, year)?  How much do you owe on it? 3.  How much money do you currently have in your bank account?... Read More
I need to know a few things before I can answer your questions: 1.  How much is your house worth?  How much do you owe on it? 2.... Read More

chapter 7 bankruptcy

Answered a month ago by attorney Matthew A. Dunaway | 1 Answer

Legal Topics: Bankruptcy

Matthew A. Dunaway
I'm not sure I fully understand your question.   Are you asking whether you can include medical bills in a bankruptcy case?  If so, yes. Are you wanting to add medical bills/debt to a current bankruptcy case (that's already been filed)?  If so, you'll need to talk to your... Read More
I'm not sure I fully understand your question.   Are you asking whether you can include medical bills in a bankruptcy case?  If so,... Read More
David J. Hutchinson
maybe, but it depends upon your entire financial situation. Discuss that with a good local lawyer. Good Luck.
maybe, but it depends upon your entire financial situation. Discuss that with a good local lawyer. Good Luck.
David J. Hutchinson
It depends upon your entire financial situation. Talk to a good local lawyer. Good Luck.
It depends upon your entire financial situation. Talk to a good local lawyer. Good Luck.
Michael J. Primus
The first question is do you need to file bankruptcy?  Social security is protected from garnishment by most creditors including credit cards and medical bills.  If you are unable to pay credit cards and/or medical bills, they can call you and send dunning letters but will not be able to... Read More
The first question is do you need to file bankruptcy?  Social security is protected from garnishment by most creditors including credit cards... Read More
Michael D. Siegel
C did do something shady, but it was smart, and assured her creditors did not get any money.  The issues really have nothing to do with the present issue.  C's estate still gets A's property and not signing the waiver will make no difference to the people being asked to sign.  Under... Read More
C did do something shady, but it was smart, and assured her creditors did not get any money.  The issues really have nothing to do with the... Read More

When can we file another ch 13?

Answered a month ago by attorney Michael D. Siegel | 1 Answer

Legal Topics: Bankruptcy

Michael D. Siegel
Your lawyer did this wrong.  Should have done a Chapter 7 with a Loan Modification Request.  Ask to convert to Chapter 7.  Otherwise you have to wait 180 days to file.  Might not be a problem depending where you are in the foreclosure process and what other debt you have.
Your lawyer did this wrong.  Should have done a Chapter 7 with a Loan Modification Request.  Ask to convert to Chapter 7.  Otherwise... Read More
Michael D. Siegel
No.  You have to wait eight years between filings.
No.  You have to wait eight years between filings.
Susan J. Pearlstein
If you are divorced then you cannot file a joint bankruptcy. If you remarry, then you can.  
If you are divorced then you cannot file a joint bankruptcy. If you remarry, then you can.  
Susan J. Pearlstein
That is often possible.  Bankruptcy is a complicated area.  Please consult with an expereinced bankruptcy lawyer in your county. Consulations are often free.  
That is often possible.  Bankruptcy is a complicated area.  Please consult with an expereinced bankruptcy lawyer in your county.... Read More
Susan J. Pearlstein
That amount of debt is ususally when bankruptcy starts to make sense.  But there are other things to consider, too, like how much money you earn and what assets you own  Don't make this decision by yourself.  Bankrtupcy is complicated; talk with an experienced bankrtupcy attorney to... Read More
That amount of debt is ususally when bankruptcy starts to make sense.  But there are other things to consider, too, like how much money you earn... Read More
Michael D. Siegel
As your debt will be discharged in the case and you will get zero, your only option is to prevent the discharge of it, which is limited to very narrow grounds.
As your debt will be discharged in the case and you will get zero, your only option is to prevent the discharge of it, which is limited to very... Read More
Bankruptcy Attorney Mark J. Markus
Creditors cannot garnish anything after you file bankruptcy.  If they could, it would defeat the entire purpose of filing bankruptcy. On top of that, social security benefits are exempt from being taken by the bankruptcy trustee in a Chapter 7 case. Make sure you hire an experienced... Read More
Creditors cannot garnish anything after you file bankruptcy.  If they could, it would defeat the entire purpose of filing bankruptcy. On top of... Read More
John C. Renzi
Once we get beyond the generalities, there are specific findings and information that applies to each Chapter (as stated below).  It is really a question that does require legal analysis as to specific application, but there are some things unique to each Chapter that can be stated. Each... Read More
Once we get beyond the generalities, there are specific findings and information that applies to each Chapter (as stated below).  It is really a... Read More
Gregory H. Counts
Most of the time in a Virginia bankruptcy you can keep your house and car.  If there is no equity in the car or house, then there should not be a problem.  Even there is equity, you may be able to protect it using the exemptions allowed by Virginia.  Even if you cannot exempt the... Read More
Most of the time in a Virginia bankruptcy you can keep your house and car.  If there is no equity in the car or house, then there should not be... Read More
Bankruptcy
If you're struggling to pay off your delinquent debts and getting hounded by collection agencies, then it's time to address your financial problems. And filing for personal bankruptcy may be the ideal solution. Whether you're an individual or married couple considering Chapter 7 or Chapter 13 bankruptcy, or a business considering a Chapter 11 reorganization, or a farmer considering Chapter 12, you need the advice and guidance of an experienced bankruptcy attorney. Your lawyer can help determine which form of bankruptcy is right for you, prepare and file all of the paperwork, and advise you throughout the bankruptcy process.
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