My brother and his wife declared chapter 13 bankruptcy in
My brother and his wife declared chapter 13 bankruptcy in April. They have a total of approx. 436K in secured claims against them and 197K in unsecured claims. The secured claims are their mortgage, IRS and NJ state taxes along with an auto loan. The unsecured claims are mostly credit card debt and a 70K business loan that I signed as a co-guarantor just before leaving the business to my my brother in May 2002. Between 2009 - 2015, he had used the entire business loan and had to close his business. During that time he leased automobiles and took trips that were not business related. After declaring bankruptcy, my brother and his wife decided to put their house up for sale thinking their house could more than cover the total of all claims. It's been on the market for 5 months and the asking price is less than the amount he owes in total. My question, at this time; since I was defrauded and left with the responsibility to pay back the business loan (I've paid monthly up to 15K to date since he filed), can the loan be changed to a secured claim so that it's guaranteed to be paid in full when he sells his house? He should get enough to cover just the secured loans.
I have $67,000 worth of debt, mostly high interest credit
I have $67,000 worth of debt, mostly high interest credit cards and high interest loans. Spread out over about 7 credit cards and 4 loans. I've been going through the process of bankruptcy, I have spoken to a lawyer that put a plan together for me that would be about $1,270 a month for 5 years. I was wondering if there is any other way.Would calling up the creditors and saying hey, I am going to declare bankruptcy this week if I can't get my payments down....would they budge or is it wasted effort?
I would like to file ch 7 bankrupcy by myself.I am married
Hi,I would like to file ch 7 bankrupcy by myself.I am married but filling separate.In Illinois.I have a car,and I would like to know if its possible to keep it.Car has negative equity(value vs loan amount)Also,my car is used as a taxicab(my husband has 2 taxicabs),and it brings $1000 income to our family.Would the car qualify for some bk exemption ,so that i can keep it?So the car loan is in my name ,but I lease it to my husband's company (but for free...).Would I be able to keep the car somehow,since Im not using it to personally drive it?(and its used for business..)
After a judgment creditor has executed on an asset, how do
After a judgment creditor has executed on an asset, how long do they have before they are required to sell the asset at auction? Can they just keep the asset and not sell it at auction? Is an auction required in order to establish value? What is the effect of a BK filing that occurs after an execution but before an auction?
In Los Angeles, California Central court filing bankruptcy
In Los Angeles, California Central court filing bankruptcy chapter 13.What needs to happen for the court to approve me for 4 installments?What happens to the payment/installments if my case gets dismissed later before the 120 days and before the 4 payments are made?
I had a chapter 13 volunatarly dismissed before plan was
i had a chapter 13 volunatarly dismissed before plan was confirmed and have made settlements with all creditors who would take my money. Can I get the filing vacated and removed from credit reportJA: What state are you in? And has anything been officially filed?Customer: it was filed in CA and I have moved to Iowa. The case was filed In March and Dismissed in JuneJA: Has anything been filed in civil court? If so, what?Customer: nothing in civil court just the bk court in CA and I have a signed order from the judge dismissing the caseJA: Anything else you want the lawyer to know before I connect you?Customer: no
We had a chapter 13 bankruptcy file in 2010, completed our
We had a chapter 13 bankruptcy file in 2010, completed our payments in 2015. And the bankruptcy was finalized/discharged at that time. We made payments every month. Included in our debt that we were making payments to the trustee on were student loan (both federal and private). When the bankruptcy was discharged those loans were not paid in full (even though the trustee made larger payments to revolving creditors). It was my understanding that those payments should have been prioritized. I thought secured, taxes and student loan payments were prioritized. That is not what happened. Is there anything I can do at this point? I just received a credit collection call for one of the student loans I didn't know still had a balance. I paid it, but I feel like that should have been paid with our trustee payments. Is there anything I can do? Or is what happened correct?
Second opinion] - I have filed a Chapter 13 in the Federal
Second opinion] - Hi. I have filed a Chapter 13 in the Federal Court of Miami last December and my plan was approved. I have a home that's not in foreclosure (reverse mortgage), and that's protected by the homestead exemption. No payment due there. The house is in my name only, my wife lives separately in Connecticut and has filed a divorce last June in Connecticut. According to 28 U.S. Code § 1334 Bankruptcy cases and proceedings, it seems that the Bankruptcy Court has prior and higher jurisdiction over my properties. I have a pre-nuptial that states "Prospective Husband and Prospective Wife waive the following rights: ...e. To the division of the separate property of the parties, whether currently held or hereafter acquired." For practical reasons, since I have a lawyer here to defend me at the bankruptcy court and I cannot afford one in Connecticut, I was contemplating the possibility of filing a Motion of Declaratory Judgment (Summary Judgment?) to ask the Bankruptcy Court to determine that my home is a non divisible property. Is this something feasible, typically ?