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..)
This is to this question. How do the credit companies
This is a follow up to this question. How do the credit companies (Equifax, Transunion) know about this judgement. Does the court send a report. Do they scan public records.With that in mind if the judgement is released and disappears, how do I make the credit company aware of this?
Regarding my previous question (Bk 7), home equity of
Hi!Regarding my previous question (Bk 7),home equity of $18000:Do you think that the trustee would deduct certain potential expenses from my "equity" ,to estimate their "PROFIT,like :real estate broker fees,listing fees,closing costs?If they do,then broker fees are 6%(about ,closing costs about 3% ,so that would add to about $8800 (from the officially a;praised value of $98000).In this case,18000 equity -8800 expenses=aprox $9200.So im assuming they would "ACCEPT" me to pay about $9000 to keep my home(with gifted funds).Can my SIster In Law be the GIFTER?thanks!
This is a chapter 13 question. The Debtor is materially
This is a chapter 13 question. The Debtor is materially behind on her 2nd mortgage, all of the arrears are in the proposed plan. The Debtor wants to pay the arrears in the plan, 2nd mortgage outside the plan. The debt matures during the time span of the proposed plan. The Creditor for the 2nd mortgage objected to confirmation because the entire debt was not placed in the plan. Does the Debtor have to put the entire 2nd mortgage in the plan? Thank you in advance for your assistance.
Chapter 7 Bk Illinois. I am married,but want to file Single
Chapter 7 Bk Illinois.I am married,but want to file Single Bk chapter 7.I am worried about losing my condo,primary residence.I purchased my Condo,located in Chicago,BEFORE marriage and mortgage is in my name only.I got an Appraisal done on Aug 1st(is this appraisal too old if I file now?),valued at $98000.HOME exemption in IL,to my knowledge,is 15000.My mortgage amount is 65000.So 98000-65000-15000=18000 remaining home equity.Q:can I save my home ,is there any way?My mother is willing to gift me some money,to pay for part of the "equity" of 18000,but not the full 18000.Can I negociate with the trustee to settle for some money,instead of selling my property?What can I do?
My 87 year old mother has quite a bit of unsecured credit
My 87 year old mother has quite a bit of unsecured credit card debt with multiple creditors that she can't afford. I'd like to stop making payments and negotiate a debt settlement (20% of total). I understand this will damage her credit score and any debt written off could be considered income. If I'm offering a payment, can a creditor force my mother into bankruptcy or put a lien on her home?
Help... in 2010 we file for bankruptcy (due to medical) and
Help...in 2010 we file for bankruptcy (due to medical) and the case was settled and completed the same year.The problem we are having NOW is that during the bankruptcy there was an order avoiding judgement liens on our property for 6 creditors. (I have a copy of that order from the judge). We paid the attorney/attorney group a $250 fee in addition to the initial bankruptcy charge to have the attorneys office record this order in our country clerks office to remove the liens. (I also have a copy of the cancelled check showing we paid this fee and they cashed it). The problem is this.... we just took out a home equity loan as out credit is now excellent and the bank found that 3 of the 6 were still listed on the county tax records as liens dating back to the bankruptcy. The bank lending officer did verify that these liens were the ones that should have been removed from that time period.The attorney/office that was used is no longer in business and it is now 61/2 years after the fact. I need to have the remaining 6 creditor liens released from my property and do not feel that I should have to repay some one else (atty) to do this. What is my legal recourse. How can I go about getting this corrected?? Please I need an answer asap. thank you
Relevant facts: -I am a 'pro se' ch. 13 filer. -My 4th
Relevant facts:-I am a 'pro se' ch. 13 filer.-My 4th amended plan was confirmed by the court very recently.-Also recently, my mortgage lender filed a motion for relief from stay (which I expected as I was in arrears post-petition by 4 months when they filed). The morning of the initial hearing on the matter - held 8/25/16 - I discussed entering a consent order with the mortgage lender's attorney. We communicated this to the judge and he set final hearing for 9/22/2016 (this coming Thursday morning). (At that time, the judge told me that if I could not come to some sort of agreement with my lender then I could present - at the final hearing - whatever evidence I want him to consider for denying their motion to lift the stay).-I have the order in hand (they sent it to me last Thursday and followed up today asking if I agreed with it) but have not signed yet because I have a couple of questions. The 'Order Granting Modification of Stay' stipulates that I am to begin making regular monthly payments starting 10/1/16. Monthly catch-up payments will commence on that date as well (I will have 9 months to cure the arrearage). The source of funds is a gift from my spouse (we are separated currently).- According to nolo.com, "the court is predisposed to continue the bankruptcy protection." Also, "Since property used as collateral must be paid for or returned during bankruptcy, the court will normally lift the stay unless the debtor can bring the payments current or show another good reason to deny the motion (for example, the debtor will use one of the available methods for dealing with secured debts in Chapter 7 bankruptcy, .....*****or the debtor has provided for payment of the debt in a Chapter 13 repayment plan)."Questions:- Is simply modifying my current (confirmed) plan to provide for payment of the post-petition arrears (using the gift funds from my spouse) a viable option for me? Is it really very likely the court would go along with that? I would need to file my modified plan tomorrow if this is a good defense. My total arrears is $5426.48, of which $1676 are attorney's fees.-The lender's initial filing included an exhibit - a tax assessment - that was not actually for my property (it was for another condo in my building) yet represented as such (in other words, they made a mistake). Is this a potentially 'fatal defect'....possibly necessitating re-filing if I bring it up to the judge? (I did mention the defect to the lender's attorney prior to the initial hearing and she replied with "well that's actually good for my client because the tax assessment in the filing is higher than what yours actually is (I had told her mine was less) ...which means they have a smaller equity cushion.....(I understand this but the point is there is an error in the filing).I have a few other questions but would like view your replies to these first.