How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask dylatess Your Own Question

dylatess
dylatess, Attorney
Category: Bankruptcy Law
Satisfied Customers: 4635
Experience:  35 plus years of experience specializing in bankruptcy law
Type Your Bankruptcy Law Question Here...
dylatess is online now
A new question is answered every 9 seconds

Debtors chap. 13 plan was dismissed after 2 yrs. for being

Resolved Question:

Debtor's chap. 13 plan was dismissed after 2 yrs. for being in arrears in trustee payments. Debtors own a house they live and a small rental property (duplex).
1) Can they file for a chap.7 bk right away after chap. 13 dismissal?
2) Can they still get to keep the rental property if they can make the mortgage payments for the house and rental property in a chapter 07?
3) is there an alternative in chap. 07 similar to chap. 13, whereby you can discharge the 2nd or junior lien?
Submitted: 7 months ago.
Category: Bankruptcy Law
Expert:  dylatess replied 7 months ago.

Over 35 years, I have assisted my clients with debt problems having filed more than 35000 chapter 7 and chapter 13 bankruptcy petitions.

 

Can they file for a chap.7 bk right away after chap. 13 dismissal? MOST LIKELY YES, YOU CAN FILE IMMEDIATELY. HOWEVER, LOOK AT THE DISMISSAL NOTICE AS SOME DISMISSALS SAY YOU MUST WAIT SIX MONTHS TO FILE AGAIN- BUT THAT IS NOT TOO COMMON.


2) Can they still get to keep the rental property if they can make the mortgage payments for the house and rental property in a chapter 07?

 

YES IF THERE IS NO EQUITY IN THE RENTAL. IF THERE IS EQUITY, THEY CANNOT EXEMPT OR PROTECT IT IN A CHAPTER 7 AND THEREFORE IT BECOMES AN ASSET OF THE BANKRUTPCY.


3) is there an alternative in chap. 07 similar to chap. 13, whereby you can discharge the 2nd or junior lien? JUNIOR LIENS CAN NOW BE STRIPPED IN A CHAPTER 7 PROCEEDING. BUT IT IS TRICKY AND YOU WILL NEED THE ASSISTANCE OF AN ATTORNEY.

 

I wish you well. Please be so kind as to rate my answer ok or better so that I am paid for helping you.



Customer: replied 7 months ago.


Could you briefly elaborate on how a 2nd lien can be discharged in a chap.7 or circumstances this is allowed?

Expert:  dylatess replied 7 months ago.

If the property value is less than what is owed on the first and second combined, and by eliminating the second the equity remaining would be 100k or less (if married ) or 75K or less (if single) you can file a motion to strip the second. But this is a separate proceeding that follows the bankruptcy hearing. Likewise, it requires pleadings and is not form work. So you will need an attorney.

 



I wish you well. Please be so kind as to rate my answer ok or better so that I am paid for helping you.

dylatess, Attorney
Category: Bankruptcy Law
Satisfied Customers: 4635
Experience: 35 plus years of experience specializing in bankruptcy law
dylatess and other Bankruptcy Law Specialists are ready to help you

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
 
 
 

Meet The Experts:

 
 
 
  • FiveStarLaw's Avatar

    FiveStarLaw

    Attorney

    Satisfied Customers:

    3203
    Bankruptcy Lawyer. Experienced.
< Last | Next >
  • http://ww2.justanswer.com/uploads/FL/FLAandNYLawyer/2012-1-27_14349_3Fotolia25855429M.64x64.jpg FiveStarLaw's Avatar

    FiveStarLaw

    Attorney

    Satisfied Customers:

    3203
    Bankruptcy Lawyer. Experienced.
  • http://ww2.justanswer.com/uploads/TL/tleeders/2012-6-13_204815_TSL1.64x64.jpg Terry L.'s Avatar

    Terry L.

    Attorney

    Satisfied Customers:

    2204
    Better Business Bur 15yrs bankruptcy experience. Chicago Bar
  • http://ww2.justanswer.com/uploads/mnphillips2/2009-03-13_203105_10984459-249293407.jpeg Phillips Esq.'s Avatar

    Phillips Esq.

    Attorney-at-Law

    Satisfied Customers:

    950
    B.A.; M.B.A.; J.D.
  • http://ww2.justanswer.com/uploads/CO/cortrightlaw/2011-12-5_4117_Kevin.64x64.JPG cortrightlaw's Avatar

    cortrightlaw

    Attorney

    Satisfied Customers:

    490
    Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
  • http://ww2.justanswer.com/uploads/Jay1968/2006-12-03_004423_JoeRossPhoto.jpg JoeLawyer's Avatar

    JoeLawyer

    Attorney

    Satisfied Customers:

    376
    Attorney in the practice of Bankruptcy Law since 1996
  • http://ww2.justanswer.com/uploads/DY/Dylatess/2012-9-11_1968_BHBTemplePhoto.64x64.jpg dylatess's Avatar

    dylatess

    Attorney

    Satisfied Customers:

    370
    35 plus years of experience specializing in bankruptcy law
  • http://ww2.justanswer.com/uploads/US/USLawAnswers/2012-9-20_23143_20090105211638Headshot3b.64x64.jpg Brent Blanchard's Avatar

    Brent Blanchard

    Bankruptcy Attorney

    Satisfied Customers:

    315
    Twelve years experience in all aspects of debtor & creditor BK.