Big Pine Key, FL Bankruptcy Law Firms & Lawyers

Second mortgages are a typical example of using one collateral for two loans. All loans are subject to the lending practices of the institutions to which application is made. Getting two loans on a single motor vehicle would probably not be possible, unless perhaps the car is worth really big bucks because it is very rare and in excellent shape. In other words, collateralizing personal property for two separate loans is probably not possible, but it is done frequently with real estate.

A tax refund is considered part of the estate in bankruptcy. It is also considered earned before the bankruptcy to the extent you have earned that money before you filed bankruptcy. If you have already received the refund and spent it, you will not lose it as long as you did not make certain preferential payments. If you have received your tax refund it is possible you could lose it. In Utah, there is no exemption for cash, which is what a future refund is considered. Sometimes a tax refund is too small for a trustee in bankruptcy to take. You should contact a bankruptcy attorney to discuss your options. Many attorneys offer free consultations.