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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 spouse is going to file bankruptcy. She has lived in

MY spouse is going to file bankruptcy. She has lived in Florida for over a year. She owns a home in Ohio where we moved from that is in foreclosure. I own my house in Florida, the mortgage is in my name only. She is confused because lawyers in Florida tell her to file in Ohio since she doesn't have property in Florida and Ohio lawyers tell her to file in Florida since she has worked there for over a year. She currently still has an Ohio drivers license. She is retired, small public pension, and works part-time. All of her debts are hers, no joint debt. Where should she file? Thank you.

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Taylor

Attorney

Juris Doctor

 
156 satisfied customers
My mom's credit card has gone to in-house collections.

My mom's credit card has gone to in-house collections. She has total debt of $23,200 on the card. Before it went to in-house collections, the most I could get them to settle for is 50%. Chase is her only creditor.The NUMBER ONE concern is for my brother. He loaned my mom 35K for house payments, bills and repairs to get the house sold. She paid him back when the house sold t in September 2015. She then stopped making payments to Chase because she did not have the money to do so.1) Is there any time that must go by where my brother' 35k would NOT be considered as part of a bankruptcy? That is, would he have to give any of the 35k to Chase?2) If they sued my mom, could they touch my brother?3) If she decided to declare bankruptcy, would my brother be impacted in a negative way?My brother loaned her $35,000 for house payments and fixing up the house, so she paid him back first. She absolutely does not want my brother to be dragged into any of this, or get screwed if she gets sued.She is on Soc. Sec. and has a small pension from a divorce which I believe are untouchable. $1354 is here monthly income and she now has $18K left from selling the house.1)In bankruptcy would her income be a factor2) In bankruptcy, would the lose the 19K of savings anyway? But she did sell her house back in Sept. of 2015. Would I lose my savings to Chapter 7 regardless?Thanks for any help you can give!!!

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

 
44,858 satisfied customers
I'm currently in an open Chapter 7, and my car was totaled

I'm currently in an open Chapter 7, and my car was totaled (not my fault) The settlement from at fault party isn't even enough to pay off the car loan, thankfully I have gap insurance. Even though the auto loan is taken care of, I am now without means of transportation and cannot get financing. Can I go after the at fault party for a larger settlement in order to buy a new car?JA: What state are you in? And has anything been officially filed?Customer: South Carolina. I've signed power of attorney to USAA (at fault's insurance) in regards ***** ***** car but I rescinded the release of my car from the auto shop to USAAJA: Have you talked to a lawyer yet?Customer: no not yetJA: Anything else you think the lawyer should know?Customer: not that I know of. The car was exempted from the bankruptcy caseJA: 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 Bankruptcy Lawyer about your situation and then connect you two.

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Maverick

Doctoral Degree

 
5,274 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
I am in NM I want a bankruptcy atty to walk me through the

I am in NMI want a bankruptcy atty to walk me through the process of deciding if my Sales Tax debts are dis-chargeable. I filed a Chapter 11 in 11/2007 and at the time I had a lot of unfiled and unpaid gross receipts taxes. As part of the Bankruptcy I filed all returns. They were all filed by January 2008. I kept current on all returns and payments going forward.My plan was confirmed in March of 2011.My atty filed a motion to close the Case on May of 2011.I paid something like $ 200,000 to the state of NM over the following 18 months.I filed another Chapter 11 in April of 2014.Question 1.Does the three year rule run from the day the plan was confirmed in March of 2011 or does it run from May of 2011 when the case was closed.Chapter 11 number 2 fell apart, the trustee moved to have it converted to a Chapter 7. I didn't go to creditor's meetings and the Chapter 7 was dismissed in August of 2014.At this point the State of NM is still after me for $ 100,000 in unpaid taxes, which were part of the returns I filed in January 2008. And they are also trying to collect $ 200,000 in penalties and interest.Question 2If I file a new Chapter 11 will I be able to discharge all of the aforementioned debts.Question 3Part of the NM State Constitution says that the State is Forbidden from forgiving debt. Does federal bankruptcy law trump, NM State Constitution.Question 4Any ideas on how to get the state to discharge debt without forcing me to file a chapter 11.

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

 
104,364 satisfied customers
I paid the IRS on April of 2015 money I owed taxes and I

I paid the IRS on April of 2015 money I owed for income taxes and I used my American Express Card. Can American Express file a complaint to determine dischargeablitly of debt and do they have a case?

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Texas Atty

Juris Doctor

 
34,088 satisfied customers
Because I have income through self-employment I need to know

Because I have income through self-employment I need to know if Utah's laws consider my self-employment income as “wages” that are entitled to exemptions usually given to a traditional employee whose income is garnished.Even if Utah's laws will not exempt some of my self-employment income, does federal law still provide me some relief because the Consumer Credit Protection Act's definition of “earnings” may be broader than what Utah State might define as “wages,” and can include the income that I make as a self-employed person.

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

 
104,364 satisfied customers
In Utah are self-employment earnings considered to be

In Utah are self-employment earnings considered to be “income” for wage garnishment purposes? Do those earnings also qualify for the same exemptions as wage garnishments?

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legalg

Juris Doctorate

 
12,352 satisfied customers
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