How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
A new question is answered every 9 seconds

Ask a Bankruptcy Lawyer

FiveStarLaw
FiveStarLaw, Attorney
Category: General
Satisfied Customers: 3317
Experience:  Bankruptcy Lawyer. Experienced.
9968427
Type Your Bankruptcy Law Question Here...
characters left:
Bankruptcy Lawyers are Online Now

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
 
 
 

Involuntary Bankruptcy Process

Involuntary bankruptcy happens when someone or maybe even a business owes money to creditors, and afterwards a creditor requests that the person should file for bankruptcy. The creditor that request for involuntary bankruptcy feels that this is a way that they will collect on funds that should be given to them

How does the automatic stay affect the petitioning creditor? Am I allowed to file suit to get a judgment against the party if I am the one who filed the involuntary bankruptcy? Do I have immunity from the automatic stay that I created?

When things get to this point it is usually the last option in efforts to try and collect a debt, first a person must have a debt that is owed to that person. Also the person must be any kind of issue and the amount can’t go pass $14200.

Also, if that person turns out to be unsuccessful they could end up paying the debtors legal fees instead. To avoid issues it would be good to plan out all other legal means of collecting on the debt by fist obtaining a judgment. And the automatic stay would apply to all creditors including that person and filing a lawsuit would alone defeat the petition as it would show that the debt can be fought.

If a bankruptcy court lost track of an involuntary bankruptcy case and never discharged or dismissed it and the creditors for the case never asked to be released from the automatic stay does the automatic stay remain in effect until someone sees that it's still active?

Yes; automatic stay remains in effect until the creditors file a relief from the automatic stay or until the case is closed or maybe dismissed. The discharge order does not release the Automatic Stay as a case might reopen for one reason or another after the Discharge Order from the Court. There are two ways that would release the Automatic Stay apart from the creditors asking for the relief and being granted the request by the Court and that’s a case dismissal and also if the case was to be closed.

I was put in to involuntary bankruptcy in the state of Florida. The case went now where and was dismissed 4 years later. Do the statue of limitations on debts continue during the 4 years or are they suspended while the bankruptcy was pending?

There are a number of things that may suspend the Statute of Limitations (SOL) for the collection of debts. SOL also shows how the states that are listed have events that are the only ones that can toll the SOL. Bankruptcy don’t get suspended though. In addition to that, the Statue of Limitations is not suspended while the Bankruptcy is in progress.

A couple is getting ready to look into filing bankruptcy in the state of CA. 1) Can state income tax debts qualify? 2) If bankruptcy is granted, do I have to pay taxes on the amount of debt that is discharged? 3) What is the average cost of filing? 4) Can I keep my home out of the bankruptcy?

A person can’t discharge income tax debts. Also, the person doesn’t have to worry about paying taxes on the debt that has been discharged. A Chapter 7 will cost $306 to file, and it would be lower to file a Chapter 13 costing $281 to file. Lawyer fees will be more costly it would be around $1500 for a Chapter 7, and about $3500 for a Chapter 13; those prices are not exact. They are just estimates of what a person may pay for lawyer fees. In order to keep property, a person would need to keep payments current with the house. If that is handled properly, then there should be no problem keeping with keeping the home.

Having the right information about involuntary bankruptcy can help individuals deal with difficult situations and make the right decisions. Ask Experts about involuntary bankruptcy and other related topics.

Ask a Bankruptcy Lawyer

FiveStarLaw
FiveStarLaw, Attorney
Category: General
Satisfied Customers: 3317
Experience:  Bankruptcy Lawyer. Experienced.
9968427
Type Your Bankruptcy Law Question Here...
characters left:
Bankruptcy Lawyers are Online Now

How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Bankruptcy Lawyers are online & ready to help you now

FiveStarLaw
Attorney
Satisfied Customers: 3203
Bankruptcy Lawyer. Experienced.
Terry L.
Attorney
Satisfied Customers: 2204
Better Business Bur 15yrs bankruptcy experience. Chicago Bar
Phillips Esq.
Attorney-at-Law
Satisfied Customers: 950
B.A.; M.B.A.; J.D.

Recent Involuntary Questions

  • I was awarded a settlement from a car accident, is this taxable? I

    I was awarded a settlement from a car accident, is this taxable?
    I also just filed chapter 7, will this settlement be taken away?
  • Last year I made a purchase from a company which has entered

    Last year I made a purchase from a company which has entered involuntary chapter 7 bankruptcy. I made my purchase around 9 months before this occurred, in which the guaranteed delivery date was missed and a refund was never processed. I would like to know if my proof of claim should show this debt as entirely unsecured or if some part of it would fall under 'Entitled to Priority under 11 U.S.C. §507(a)'.
  • To Socrateaser: I asked a question previously about a house

    To Socrateaser: I asked a question previously about a house I have an interest in where the owner is deceased. We are looking at probate options.
    Now the first lien holder has set the house for a foreclosure sale.
    Is there any way a bankruptcy can stop the foreclosure sale? I'm not exactly sure how to file a bankruptcy for an estate. Can an estate file a bankruptcy? Does it need an EIN?
    I could file an involuntary bankruptcy on the dead owner, but I'm worried the US Trustee might say that's not a proper course of action.
    Is there anything I can do?
< Last | Next >
View More Bankruptcy Law Questions