Bankruptcy question. • An unlawful Detainer action is
Bankruptcy question.• An unlawful Detainer action is currently in play.• One of the Defendants in the eviction was in a bankruptcy before the filing of the UD. Took place.• The Bankruptcy has just closed.1.) QUESTION: Even though the BK has now expired the Defendant can still bring a motion inthe UD court to dismiss the UD case base on the fact that it was filed during the time that the Defendant was in a BK. CORRECT?2.) ALSO even if Plaintiff was not advised of the BK, the UD would still need to be dismissed? CORRECT?
Ca. Bankruptcy question on a non-dischargeable fraud action.
Ca. Bankruptcy question on a non-dischargeable fraud action.• Real estate agent gets a listing and sells a property.• Escrow disperse the commission to agent's broker.• Agent's broker does not pay agents her commission.• Agent sues broker, at the trial the judge tells the broker he committed fraud, the court is going to award the $11,000 to the agent further the court will write a letter to the real estate board telling them to revoke his broker's license.• Broker asked the judge not to do that and says he will pay the money on the following Monday in full.• Judge asked agent if she would agree to that, agent agrees.• Judge tells agent and broker to agent back in his courtroom on Monday as he wants to see the payment be made in his courtroom.• The following Monday agent shows up broker does not appear. The judges was livid and enters his judgment for fraud and the 11,000.00 is owed.• Broker files motion with the court wherein he demonstrated to the court that prior to that Monday's appearance he had filed a bankruptcy.• Due to the bankruptcy, the judgment was set aside.• Agent files adversarial fraud complaint with bankruptcy court.• QUESTION: will the bankruptcy court view this situation as fraud or as a dischargeable debt?• Further if the court would view it as fraud is their case study or court law that you can provide.Thank you.
Chapter 11: My business owes a lot of payroll back taxes.
Chapter 11: My business owes a lot of payroll back taxes. Last year I purchased property for the business location in my wife's name (cash -no mortgage). The IRS agent has come calling and wants my wife to transfer it to the business so he can levy/ seize it. I was hoping to set-up a payment plan, but the IRS agent is not cooperating. My tax attorney tells me I really don't have a choice because the agent could force it through the courts. As a strategy, I am thinking of filing a business Chp.11 and close it -this would force a payment plan for the debt and possibly decrease the employer's portion -I realize the employee portion is still owed....All this would be in an effort to save the property -but then there is the trust fund portion on my personal side. Therefore, my question is can they still come after my business property from the personal side -even if I file Chp.11 for the business? I can't afford to file for both/ personal & business.
Bankruptcy atty please. My mother died and I am going to
Bankruptcy atty please. My mother died and I am going to receive a disbursement from a family trust. I am also facing a chapter 11 in the near future. The disbursement is pretty large. If I have the disbursement go into an IRA or 401K and wait 120 days will the retirement account be protected ?
An objection to my Chapter 11 plan came in 3 weeks after
An objection to my Chapter 11 plan came in 3 weeks after votes were due, from my main creditor. Obviously, they didn't vote. I'm trying to predict the outcome if I were to ignore this instead of accepting the high interest they demand, or stipulating to raise the interest rate by any amount. I would ignore it on the basis of its lateness; possibly because of invalid arguments. It would be a risk; my lawyer says the judge will consider it, even though it's late:"The judge will give the opposition some weight, even if it was untimely."(What are rules for? My lawyer always wants me to roll over. I have to fight to be fought for.)The lender doesn't mind being bifurcated and they don't dispute the stipulated value. They accept that the secured portion would be my entire loan amount. I asked for 3.75% interest. They want 6.5% and point to the bk code to justify that.My concerns: At 6.5% the payment would rise by $1000. It' higher than the rate I wanted to modify. The balance is $39K more than the balance when I started this loan mod thing in 2009. (But far less than balance and arrears combined.) The plan I proposed is very tight. I couldn't pay another $1000 even if I wanted to. The loan mod I was working on for 6.5 years would have been 2% in year one, rising to 3.5% over 5 years, but probably wouldn't have disposed of the portion of the debt above the property value; it would have been in forbearance.Question 1:The relevant part of the objection and the code they cite accompany this question. I don't see any connection between the two. Is there one?Now, the judge. She's been more than decent so far. She is asked to consider me a flake and confirm with a higher interest rate than the one in my plan. Will she?I don't know about her, but I don't buy the argument that I am high risk because I am a Chapter 11 debtor. I wouldn't be doing this if I weren't serious. This is my only problem loan; I didn't feel like giving away the $300K I had in this building; the former servicer was about to foreclose after improperly denying a HAMP. They denied it because they did the math wrong, and also failed to notify me or my lawyer, which meant I lost the chance to appeal... that is to say, extenuating circumstances. The judge cannot know that because my lawyer does not want to say it.This creditor acquired the loan, not just the servicing, right after the prior servicer had done their appraisal this spring. The servicer asked for two extensions for that--almost a month--so for this debt, this is the third extension they expect. In case that matters.Further, this lender has the collateral if I default. Their predecessor's appraiser brought it in $60K higher than the stipulated value we reached, and $60K above my appraiser's value. If they trust the appraisal they inherited, then there's some equity to make up for their low opinion of my reliability. (Big range).The lender says they want a higher rate because I'm likely to default. A higher rate would increase the odds of anyone defaulting. If the goal is to get the balance repaid, the odds are better at 3.75% than 6.5%. If the goal is to maximize profits, then it's a toss up. I'd re-fi out of this the second I could, if rates were low.Question 2Given all of the above, and the argument (attached) can you hazard a guess about how the judge would lean--confirm the plan I had, versus increase the interest rate for this late objection?
I have some technical questions regarding a Ch. 13 Modified
I have some technical questions regarding a Ch. 13 Modified Plan that my trustee has an objection to (I am a pro se filer) --Within the Plan in its current form, I have proposed to make adequate protection payments of $30.63/month to TitleMax on a title loan (which I also have made a motion to 'cram down) *until* such time as the trustee begins making those payments out of my plan funds. I proposed these protection payments to ensure that Titlemax does not repossess my vehicle during the time prior to my plan confirmation (i.e., prior to the time the trustee begins paying Titlemax). The trustee objects on the basis that I did not subtract the $30.63/month payments on Schedule J as an expense. Currently, my proposed plan payments are $88/month; subtracting the $30.63/month would make them $57.37/month. I am confused in that I am under the impression that I can stop making the adequate protection payments to TitleMax once my plan is confirmed and my trustee starts paying them....is my understanding correct?...and if it is: If I am to amend Schedule J + my Plan *now* to reflect the current $30.63/month payments to TitleMax....would I then also need to amend Schedule J + my Plan once it is confirmed (as the $30.63 no longer will be an expense after the trustee begins making the payments to TitleMax) ?I have included screenshots of the Trustee's objection as well as the sections of Schedule J and my Modified Plan that are in question.
Chapter 13 bankruptcy, I have 10% title interest in each of
HelloFor a chapter 13 bankruptcy, I have 10% title interest in each of 3 single family homes. I am not on any of the loans just only my mother is. To calculate if I am not over the chapter 13's 1.1 million dollars rule for assets , do I add up my interests in all of the properties or do I add up the loan amounts on each property of which I am not on? Thanks
I filed chapter 7 bankruptcy 2 years ago this June. It was
I filed chapter 7 bankruptcy 2 years ago this June. It was discharged in December 2014. I still have the vehicle in my drive way. When does it become my property.JA: OK. The Lawyer will need to help you with this.Customer: thank youJA: Have you talked to a lawyer yet?Customer: noJA: Anything else you think the lawyer should know?Customer: simple chapter 7, no objections from creditors. this was florida by the way.JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Lawyer about your situation and then connect you two.