I've asked questions before about loaning money and got very
I've asked questions before about loaning money and got very detailed answers. One question that I have now is: how do I protect the loan that I gave to a business against bankruptcy? I have been told here by another attorney to, in addition to other liens, to alook lien on accounts receivable but does that protect against bankruptcy?Thank youKevin
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?
We are a nationwide commercial finance firm based in
We are a nationwide commercial finance firm based in California. We financed a Kenworth truck to a diver-proprietor in Missouri. The truck cost $36,900 and the debtor put $9,225 down so that the amount financed under the Equipment Fince Agreement came to $27,675 plus some upfront fees.The transaction was guaranteed by debtor's spouse and his LLC entity. The debtor and his spouse defaulted after making their second payment in April 2016. In June 2016, they filed Chapter 13 in the Western District of Missouri and we filed a Proof of Claim of $50k representing our remaining receivable balance. Then the debtors filed an Objection to our Claim saying "the claim should instead be allowed as a secured claim in the amount of $26,951 because that represents the amount unpaid on the "total advance" under the contract as of the filing date of the bankruptcy". How can we fight this cram down?Thanks.
I filed a chapter 13 back in 2011 on a 60 month plan. the
i filed a chapter 13 back in 2011 on a 60 month plan. the whole reason for having to file it was about $50k IRS debt that the interest and penalties were accruing so fast on it could never be paid. now im a few months from discharging it and i get a letter from the irs saying i still owe them $37k of that debt!! i looked at the plan and it states under IRS that 50k was scheduled, but only $13k is listed as claimed and that 13k has been paid 100%. so my questions are 1. what is the differance between scheduled and claimed 2. can the irs continue to claim debt that was part of a chapter 13 that was fully paid? isnt that the whole point of bankruptcy? to allow debtors to fully discharge their debts in 60 months and then start over?
CA. Bankruptcy question regarding relief from stay. •
CA. Bankruptcy question regarding relief from stay.• Foreclosure takes place• The buyer files eviction against the renters in the house.• Renters are on a year-to-year lease• During the eviction one of the renters files a bankruptcy, all eviction procedures are put on hold• Plaintiff files a motion for relief from stay.• Court grants the motion and orders the following.The Motion is granted under:a. 11 U.S.C. § 362(d)(1)b. 11 U.S.C. § 362(d)(2)Movant may enforce its remedies to obtain possession of the Property, including lockout, in accordance with applicable nonbankruptcy law, but may not pursue any monetary claim against the Debtor or property of the estate for amounts attributable to the period before the bankruptcy was filed except by filing a proof of claim pursuant to 11 U.S.C. § 501.Please explain what this order means.Thank you
I have another Bankruptcy question that has arisen and am
Hello,I have another Bankruptcy question that has arisen and am looking for help. My office is a govt agency that is a division of the CalEPA. Lets assume our claim is a non-priority claim. A company owed our office $30,000 from many, many years ago and then filed a chapter 11 bankruptcy in 1991. We therefore filed a Proof of Claim for the amount of money the company owed our agency. In 2010, the BK was converted to a chapter 7 case and the docket says "voluntary" and "assets". The docket also says "debtor disposition: discharge is not applicable" and that the BK was later terminated on 12/15/15.1. Hence, what happened to our Proof of Claim, meaning why didn't we get any payments? 2. Also, since this company is still in business today, could we still go after them for the money they owed us through regular collection efforts?
I am in the appeals court and my case was dismissed mainly
I am in the appeals court and my case was dismissed mainly because i could not afford to pay the arrearages for the mortgage.I appealed the lift of automatic stay and my objection to their proof of claim that was over ruled. Now the opposition has informed the appeals judge that my case was dismissed and now the appeal is constitutionally moot. because i did not appeal the dismissal of my bk. I have an apeallant brief due on monday. should i submitt my applleant brief anyway because the judge falsely back dated an indorsement on the note and if left unopposed im afraid it will prejudice me in my wrongful foreclosure suit.
This is a Chapter 13 question...the Debtor has student loans
Hello...This is a Chapter 13 question...the Debtor has student loans which are in deferment and not being paid back through the plan...however the creditor (govt backed student loan) filed a proof of claim which is about $4,000 higher than what the Debtor says it should be...any need to object...there is no plan treatment of this debt other than deferred paid outside the plan...thank you in advance for your assistance