Trying to understand the 'basis' of my stock and the impact
trying to understand the 'basis' of my stock and the impact in bankruptcy. I have filed Ch7 BK personally and listed my companies as they have no value. Upon finishing my taxes, my 'basis' appears to be $900k. Does this mean my company is valued at $900k and will the trustee sue me for the $900k? The company has no value (cash or assets).
I own a small business. It's a sole proprietorship. I would
Hi,JA: Hello. What is your issue regarding?Customer: I own a small business. It's a sole proprietorship. I would like to know if I file bankruptcy do I have to close my business?JA: What state are you in? And has anything been officially filed?Customer: California NoJA: Has anything been filed in civil court? If so, what?Customer: Nothing filed in courtJA: Anything else you want the lawyer to know before I connect you?Customer: I have some personal debt and business related debt
After a judgment creditor has executed on an asset, how do
After a judgment creditor has executed on an asset, how long do they have before they are required to sell the asset at auction? Can they just keep the asset and not sell it at auction? Is an auction required in order to establish value? What is the effect of a BK filing that occurs after an execution but before an auction?
If you file for personal bankruptcy in Florida and you own a
If you file for personal bankruptcy in Florida and you own a corporate asset, is that corporate asset considered separate from your personal assets? In other words, is it safe from being taken? Also, is a primary residence protected in bankruptcy?
Well it's not really a bankruptcy question. I am being
Well it's not really a bankruptcy question. I am being contacted by a company that says they have a second mortgage that was charged off. Apparently, they've had it since 2010 but they are just contacting me in 2016 about it and charging me $500 a month in attorney fees. I don't even know if this company is legit.JA: What state are you in? And has anything been officially filed?Customer: TN officially filed? What do you mean?JA: Has anything been filed in civil court? If so, what? What confuses you?Customer: noJA: Anything else you want the lawyer to know before I connect you?Customer: This co is threatening to foreclose for $2000
I work for a small (13 employees) startup. They owe me 2
I work for a small (13 employees) startup. They owe me 2 months plus 2 weeks vacation based on my letter of employment. If they go bankrupt (they are currently 2 weeks overdue on my last paycheck) will I be paid my vacation time? If I quit, it may trigger a bankruptcy so is there a legal way to get them to pay their wages on time?
Someone owes a so called PLUS loan, a type of federal
Someone owes a so called PLUS loan, a type of federal student loan that he acquired to pay for his son's college. He cannot afford it anymore and is considering default. If he defaults, can the liability be transferred to the son? Also, please confirm if there is any chance of including it in bankruptcy.
Second opinion] - I have filed a Chapter 13 in the Federal
Second opinion] - Hi. I have filed a Chapter 13 in the Federal Court of Miami last December and my plan was approved. I have a home that's not in foreclosure (reverse mortgage), and that's protected by the homestead exemption. No payment due there. The house is in my name only, my wife lives separately in Connecticut and has filed a divorce last June in Connecticut. According to 28 U.S. Code § 1334 Bankruptcy cases and proceedings, it seems that the Bankruptcy Court has prior and higher jurisdiction over my properties. I have a pre-nuptial that states "Prospective Husband and Prospective Wife waive the following rights: ...e. To the division of the separate property of the parties, whether currently held or hereafter acquired." For practical reasons, since I have a lawyer here to defend me at the bankruptcy court and I cannot afford one in Connecticut, I was contemplating the possibility of filing a Motion of Declaratory Judgment (Summary Judgment?) to ask the Bankruptcy Court to determine that my home is a non divisible property. Is this something feasible, typically ?
I am a tenant in an large apartment complex for 8 years. I
Hello,I am a tenant in an large apartment complex for 8 years. I owe them about $900 in water bills. My original deposit was $950 8 years ago. My lease is over Novemeber 30th. I want to move as soon as possible, maybe even Octuber 30th.My lease contract says that for me to terminate the lease I need to give them 30 day notice and then I be responsible for two months lease (or in my case just till end of lease)I filed bankruptcy and the case was closed and bankruptcy (chapter 7) was finalized last week. I never mentioned to my lawyer or to the trustee that I want to move or terminate my lease. my question to you today is can I brake my lease now and not have to pay for next months rent? do I still neeed to give them 30 day notice or can I just tell them I be out in 20 days. I assume they for sure can keep my deposit .Rent is currently 1100, water is about an additional $70. When I originally moved in I was a student and I had a guarantor, but he never signed on renewal leases can they go after him or affect his credit, he was never asked to come back and sign anything since 2008. thanks