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Recent bankruptcy law questions

I have to file Bankruptcy Chapter 7. My only concern is to

I have to file Bankruptcy Chapter 7.My only concern is to keep my condo.My mortgage balance is 65K.A very very similar unit sold in my building with 95K(closing was last week).But it was a foreclosure.Still,its been on the market for a long time...In IL ,there is a $15000 exemption,so 65K+15K=80K,which would leave an Equity of about 95K(if this would be the Appraised value)-80k=15K.I am willing to borrow from family and friends,the 15K and give to the Trustee,for keeping my home.I heard that a Bk Trustee would look on Zillow to determine equity.Or would they hire an APPRAISER?If they look on zillow,then my home is overpriced,since zillow does not take into consideration foreclosure sales.In case the Bk Trustee estimate a value that I think is too high,can I hire an Appraiser and give the Appraisal report to my Bk lawyer to show the trustee?What should I do?

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DrakeLAW

Juris Doctorate

 
318 satisfied customers
My ex-husband is in Colorado and is filing chapter 7

My ex-husband is in Colorado and is filing chapter 7 bankruptcy. This is after he filed a chapter 13 bankruptcy 10 years agoHe has his own truck that I am not signed on and the payment is 490 a monthMy ex-husband and I have a vehicle together, he is primary I am co-signer.The vehicle is in my possession and I make the payments.He is claiming chapter 7 bankruptcy in Colorado, I am not.What will happen to the vehicle that is in both our names?Will this affect my credit?What is best to do with the vehicle keep it or get rid of it?If i don't want the vehicle can he include it in the bankruptcy?

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DrakeLAW

Juris Doctorate

 
318 satisfied customers
I need to clear a title before closing. Customer BK

I need to clear a title before closing.Customer BK dischargedyears ago,however it remains TWO item from the BK. that's a lease that is in the discharged BKAnd another item that popped in dated 1999, this creditor is not around anymore, no updated address .How do I proceed to get each one removed from the title?Thanks again

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TJ, Esq.

Juris Doctor (JD)

 
10,238 satisfied customers
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

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37,590 satisfied customers
Does bankruptcy protects someone's real estate

Does bankruptcy protects someone's real estate investment (non-owner occupied real property)?

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TJ, Esq.

Juris Doctor (JD)

 
10,238 satisfied customers
Again! So,supossing I file BK 7 by myself,and supossing Im

Hi again!So,supossing I file BK 7 by myself,and supossing Im able to keep my property(if I buyout the trustee's interest like you said,with money from friends and family).Question:what if my husband will file Bk7 one year later,will they go again after my condominium,since there will be equity?(to remind you the the property is on my name only,and was purchased before marriage).Thank you!!

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TJ, Esq.

Juris Doctor (JD)

 
10,238 satisfied customers
Filling Bk 7 in Illinois/married filling separateI need to

Filling Bk 7 in Illinois/married filling separateI need to file Bk because I have lots of debt and no job anymore.I am married,w small kids,and I want to file by myself(not joint w my spouse).I own a cobdominium,purchased before marriage.So its in my name only.Mortgage amount is $60000 and approximate value $110000.I know there is a Homestead Exemption(I dont know details about it).Question:will I lose my home,since theres some equity?

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Terry L.

Partner

Doctoral Degree

 
2,832 satisfied customers
Another question I have would be I have a home equity line

another question I have would be I have a home equity line of credit on my house for 37000 and I did list it on my bankruptcy that I filed eight years ago. . Whats the minimum I have to pay on this loan to stay in my home.

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Phillips Esq.

Attorney

Juris Doctor

 
16,574 satisfied customers
We had a customer file Chapter 11 on Feb. 16, 2016. Since then

We had a customer file Chapter 11 on Feb. 16, 2016. Since then they were sold in bankruptcy court by a private equity group . Can I still file a proof of claim?

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5,064 satisfied customers
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