Bankruptsy quesiton, ma, not yet, i would like to know if
bankruptsy quesitonJA: What state are you in? It matters because laws vary by location.Customer: maJA: Has anything been filed or reported?Customer: not yetJA: Anything else you want the lawyer to know before I connect you?Customer: i would like to know if rent expenses count as means test
I have a question about being a vendor (DJ) with a
Hi yes I have a question about being a vendor (DJ) with a restaurant that was closing down and is facing bankruptsyJA: What state are you in? And has anything been officially filed?Customer: CA No they are trying to settle with us to prevent bankruptsy they owe me 1800.00 and want to settle with about 500.00 saying they are dispersing the funds they have between the vendors. if they go into bankruptsy it is highly likely we will see nothingJA: Has anything been filed or reported?Customer: as far as I know, they have not filed or reported anything. They just sent us letters to settle to prevent having to file.JA: Anything else you want the lawyer to know before I connect you?Customer: They made a mistake and the original document said 1200.00 they owed me and would pay me about 333. They are willing to pay me out of pocket the difference to get me the 500.00. Also - Just wanting to know if this is a good deal or not. I am super bummed to lose all that money. I would be willing to wait if there was any chance to get it if they did declare bankrupts... but it sounds like its not likely according to them. I just want to make sure that is an honest statement.
I own a primary residence worth $850,000. On this home there
I own a primary residence worth $850,000. On this home there is a first and second mortgage in the total amount of $1,120,000. The priority is first mortgage, second mortgage, non-consensual lien, third mortgage. The Utah homestead exemption of $30,000 applies. In a Chapter 7, if the non-consensual judgment is avoided via section 522 (f)(1)(A), since it is totally underwater, am I left with the first, second, and third mortgages and a voided judgment lien? In other words, the lien is gone forever but the three consensual mortgages remain? Does it make any difference if the third mortgage was not "purchase money?"
I filed bankruptcy in January of 2017. After I filed my 2016
I filed bankruptcy in January of 2017. After I filed my 2016 taxes about a week ago (after my bankruptcy was filed) and found that I owe. I also owed for 2015 which were included in my bankruptcy. The IRS wouldn't let me set up an installment plan. They are saying my taxes for 2016 are included BUT how is that when I just filed my taxes a week ago and my bankruptcy has already been filed.
MY ATTY NEVER SUGGESTED BANKRUPTCY I just settled on a L/T
MY ATTY NEVER SUGGESTED BANKRUPTCYI just settled on a L/T commercial case 2 days ago. I owed under $200k in back rent (for 4 properties), plus I had an option to purchase for $1M plus about $200k in back taxes and liens. Total around $1.4M.I settled because I was tired of fighting and if I lost, I was afraid of getting a jdgmt against me for $200k. I am in the process of selling my only other house and with the jdgmt then I would lose my equity in that sale.The day I settled, the judge asked 1) was I satisfied with the representation of my atty--YES 2)was everything explained to me --YES 3) Did I understand everything--YES. I agreed not to sue the plntf and gave up all rights to the props.I just now realized that if I sold --the 4 properties are worth around $1.7M.QUESTION--Is it too late to save the equity and do something thru BK chapter 7. I never did the numbers and my atty never suggested this idea of BK
I currently have a civil law suit filed against me that I am
I currently have a civil law suit filed against me that I am trying to represent myself in due to lack of funds to hire an attorney. The plaintiff filed both in Florida and in ohio and it is a frivilous law suit that he filed due to retaliation. I can go into more depth if need be. However, the florida case, I thought I responded to everything I needed which was a complaint and admissions and didn't realize I needed to file a seperate complaint for admissions. Anyhow, they filed for summary judgement, I filed an extension with my answers and asked for time due to me having a baby. The judge denied my extension request therefore I believe the judge granted a summary judgement but I don't think the amount has been determined yet. He is claiming defamation of character/torteous interference which he has NO PROOF on because I NEVER DID IT. My question is- do you know if he can get a judgement in Florida and then place a lien on my home here in ohio from this?I have further questions regarding a bankruptcy as well...2.) If I file the bankruptcy before I have a judgement can it stop the law suit?3.) If I file after a judgement can the bankruptcy also take care of it? Does this have to be before a lien is placed?4.) Can I refinance my home currently and then file bankruptcy shortly after? I need to get my ex husband off the loan right now as well.-If I filed bankruptcy I would try to keep my house.
In considering a Chap 7 filing, have a question relating to
In considering a Chap 7 filing, have a question relating to the "means test".I have been regularly supplementing my monthly expense over income shortfall by taking distributions from my retirement IRA's. Although I am aware that most standard retirement accounts are exempt from being considered as personal assets available to use by a Trustee, I am trying to understand whether distributions from IRA accounts are considered as "income" when qualifying for Chap 7?As an example, if I would take a $3,000 normal (over 65 yrs old) distribution from an IRA each month and deposit it into my checking account for general use to pay expenses, would that be considered as additional income to be used for means testing?