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I might have to file Chapter 7,in Illinois. I own a

I might have to file for Bankrupcy Chapter 7,in Illinois.I own a property/condominium.The Exempt Equity in IL is $15000.If I have any equity remaining(after deduction of $15000 Exempt Equity),can I just ask the trustee that I can borrow money from family and friends,and pay the Equity amount,so that I can keep my home?Will they give me priority in paying,or they would just foreclose and sell it?

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TJ, Esq.

Juris Doctor (JD)

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Regarding my previous question: Would it be possible to

Regarding my previous question:Would it be possible for me to transfer 100% my property to my husband(or somebody else),and then file BK by myself?Would the property be protected this way from BK 7?Or the Bankruptcy Court would Object to this,as its done only to protect my property equity?

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DrakeLAW

Juris Doctorate

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1. Bankruptcy - How do I determine the amount creditors are

1. Bankruptcy - How do I determine the amount creditors are getting paid out of the monies I send to the trustee each month? My attorney refuses to give me this information and this info is not on Pacer.2. When I filed for chapter 13 bankruptcy in January 2016, I indicated in my initial application there were five disputed claims. I also discussed these disputed claims with my attorney and provided him with all supporting documentation for this dispute. I just discovered my attorney failed to file any objections regarding these disputed claims. Confirmation hearing is scheduled for Aug 4th. Should I ask the court to reschedule the confirmation hearing so these objections can be filed first?3. Can I circumvent my attorney and file these objections myself? My other bankruptcy attorney friend promised to help me but I do not want to frustrate the court or do anything that will jeopardize getting my plan confirmed.4. Will the Ch 13 trustee or court view me disfavorably if I fire my $4500 attorney at this point?5. Former employer owes me $27850 in unpaid wages. How can I use my Ch 13 case to get this $27850 if this employer ever files for bankruptcy?6.My attorney refuses to give me copies of my file unless I pay him $.50/page for copying fees. That's an additional $385. Is this reasonable?

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Maverick

Doctoral Degree

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A person, CH, is in Chp. 13,, bankruptcy. CH has a judgement

A person, CH, is in Chp. 13,, bankruptcy. CH has a judgement against her in a county civil court from a bank. That first started in 2010. Case was reopened in 2015, and judgement was for the plaintiff for $49,000 in June 2016.In April 2016, CH filed a new amended Chp. 13 plan which was confirmed May 2016. The Bank was a creditor and still gets certificates of notice. However the bank is not listed in CH amended plan as either a secured or unsecured claim. Is this allowed?? Does CH have to inform trustee of this new judgement of June 2016 for $49,000.

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DrakeLAW

Juris Doctorate

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I filed bankruptcy in October 2015. In my bankruptcy I had

I filed bankruptcy in October 2015. In my bankruptcy I had my house that had 2 mortgages and my car. I am expecting to come into some money. At one point my mortgage offered me a settlement on my house. My second mortgage has agreed that if I pay 4500 then they will release the lien on my mortgage and the my car people are saying I have to speak to my trustee to be about paying it off early. My question is can I be discharged from my bankruptcy early legally if I pay my first and 2nd mortgage off and then pay my car. What is the best course of action to take in order to do this? The money that I am expecting would cover the all costs.

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DrakeLAW

Juris Doctorate

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I am close to confirmation in a Chapter 11 bankruptcy. The

I am close to confirmation in a Chapter 11 bankruptcy.The deadline for voting on my plan has passed. Only one unsecured creditor voted, and they voted no. They want 8% of the $900 I owe them instead of the 4.5% I propose. If I agree to that, they will get 75 cents/month as opposed the $1.45 they want. Fine, but the bump to 8% would apply to the whole class, which includes the unsecured portion of a bifurcated mortgage. The additional 3.5% would cost me $200/month for 5 years, and the budget was already tight.My lawyer doesn't want to rock the boat by asking the mortgage lender them to vote in favor and has not made contact with them. However, their vote would carry the day, because their balance is bigger the the credit card's $900.I just got my monthly statement from the mortgage lender. It looks different from previous ones. All the values are set to zero, and there is a note printed on it that says I should pay either the loan servicer or the trustee, according to the terms of my bankruptcy plan.My bk plan has not been confirmed yet. The statement seems to include a tacit acceptance of my plan, in advance of anything being forced on them. My plan is already a done deal from their POV, it seems. So, what risk is there in asking them for a "yes" vote?Could they vote "no" as a member of the class that contains the secured portion of the debt, even after the deadline for voting is long gone? My Plan says this:"iv. Who Can Vote in More Than One ClassA creditor whose claim has been allowed in part as a secured claim and in part as an unsecured claim is entitled to accept or reject a Plan in both capacities by casting one ballot for the secured part of the claim and another ballot for the unsecured claim."Would extending the deadline and taking their "yes" vote in the unsecured class obligate me to extend it for the secured class, too?

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Im a law clerk at a government agency looking into

Im a law clerk at a government agency looking into bankruptcy issues. Years ago we filed a Proof of Claim on a company that had filed ch 11. The BK has since been terminated (in 2015), not sure what that means since the case was terminated rather than discharged. Do we have a claim here? How would we collect? Or what happened to the debt owed to our office?

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DrakeLAW

Juris Doctorate

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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

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I have some technical questions regarding a Ch. 13 Modified

I have some technical questions regarding a Ch. 13 Modified Plan that my trustee has an objection to (I am a pro se filer) --Within the Plan in its current form, I have proposed to make adequate protection payments of $30.63/month to TitleMax on a title loan (which I also have made a motion to 'cram down) *until* such time as the trustee begins making those payments out of my plan funds. I proposed these protection payments to ensure that Titlemax does not repossess my vehicle during the time prior to my plan confirmation (i.e., prior to the time the trustee begins paying Titlemax). The trustee objects on the basis that I did not subtract the $30.63/month payments on Schedule J as an expense. Currently, my proposed plan payments are $88/month; subtracting the $30.63/month would make them $57.37/month. I am confused in that I am under the impression that I can stop making the adequate protection payments to TitleMax once my plan is confirmed and my trustee starts paying them....is my understanding correct?...and if it is: If I am to amend Schedule J + my Plan *now* to reflect the current $30.63/month payments to TitleMax....would I then also need to amend Schedule J + my Plan once it is confirmed (as the $30.63 no longer will be an expense after the trustee begins making the payments to TitleMax) ?I have included screenshots of the Trustee's objection as well as the sections of Schedule J and my Modified Plan that are in question.

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DrakeLAW

Juris Doctorate

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