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Recent Schedule C questions

I am in a Chapter 13. (in CA) I represent myself. I filed an

I am in a Chapter 13. (in CA) I represent myself. I filed an adversary proceeding against my secured creditor. My plan is not yet confirmed. I am close to settling with the creditor. I am going to receive a cash payment of $17,500 as part of the settlement. #1) Does the judge have to approve this settlement #2) Do I need to amend my Schedule C to exempt this settlement amount even though at the time of filing this case was not pending

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DrakeLAW

Juris Doctorate

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I went through a bankruptcy in 2007 I have liens on my property

I went through a bankruptcy in 2007 I have liens on my property how can I get the liens released.

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Terry L.

Partner

Doctoral Degree

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I'm in negotiation with a Bank to settle a business Line

I'm in negotiation with a Bank to settle a business Line of Credit. First, they cannot seem to send me the original signed document (requested from Corporate and through this associate now, twice). Maybe there's a chance they can't find it (from 2007). It was the same case with home sales as you may recall.My second offered now is 40% in writing with my reasons, but they are now requesting financials before "reviewing it." I feel like I'm allowing them discovery on me, but they are not allowing me discovery. I've communicated this concern, but not sure how hard I should/could play my hand. We are not BK material, my wife is employed and making a lot.Any negotiation suggestions? My instincts say that I should withhold our W2's until I see what I signed. And if they can't produce the Deed, then what do they have? Could I walk away?Thanks, John

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DrakeLAW

Juris Doctorate

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I filed a Chapter 7 bankruptcy 'per-se' and attended

I filed a Chapter 7 bankruptcy 'per-se' and attended my hearing. The hearing was adjourned and in the interim, I was asked to provide several documents as well as file an exemption at my local county court. I have provided the requested documents although I am unsure which exemption form I need to use. Is it DC-454, 449 or which one do I need to file as part of the homestead exemption?

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Roger

Litigation Attorney

Doctoral Degree

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I am confused.....I am trying to file a chapter 7 in

I am confused.....I am trying to file a chapter 7 in Colorado pro se. On the Nolo web site it says Colorado does not honor federal exemptions and that you MUST use state exemptions. When I look at the Colorado Chapter 7 pro se package on schedule C, it only lists federal exemptions. The Colorado BK Court website does not state anything ( that I see ) about state only exemptions. Can I use federal 11 522 USC (b)(3) exemptions in Colorado? Thanks

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mmdesq

Attorney

Doctoral Degree

940 satisfied customers
I am filling out schedule c and trying to figure what

I am filling out schedule c and trying to figure what exemptions to claim on my schedule c Both houses are underwater, no equity and I haven't lived in either one of them, they have been rentals for, one 3 years and the other 5 years. -Also, I think Isaw in bolo press a personal property exemption. I think like $3,700 which will work for all my personal property, so I think that that is the only exception I should take on schedule c

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37,930 satisfied customers
I am filling out schedule c and trying to figure what

I am filling out schedule c and trying to figure what exemptions to claim on my schedule c Both houses are underwater, no equity and I haven't lived in either one of them, they have been rentals for, one 3 years and the other 5 years. What should I do,no exemption taken? I think that is right

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37,930 satisfied customers
Florida Wildcard exemption personal property is

Florida Wildcard exemption for exempt personal property is $4000 if you are not filing homestead exemption (which my spouse is not).If she is claiming $1240 worth of personal exemptions... including half of the deposit we placed on the unit we are renting and we are in middle of filing taxes and are expecting an $1800 tax refund ($900 would be hers), is it my understanding that she would be at $2140 worth of personal assets and that would be exempt under the Florida Wildcard Exemption and 'safe' from the prying hands of a trustee?

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Terry L.

Partner

Doctoral Degree

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I filed a Chapter 7 bankruptcy and I was discharged back in

I filed a Chapter 7 bankruptcy and I was discharged back in August of 2014. To close the case, the Trustee requires my 2014 tax return. My wife and my income comes from a small LLC. The Trustee took my 50% share. My wife owns the other 50%. My wife and I both were W2 employees and were active in the business while it was open. We have almost finished winding down the business. For filing the 2014 business income tax return, can we do this as a schedule c item? If so, how do we address the 50% owned by trustee? Or must we file a partnership return and issue K1's?

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