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WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 17252
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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my son wants to file bankruptcy, he was in jail, lost job due

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my son wants to file bankruptcy, he was in jail, lost job due to that, truck went into repossession is late 3 months and I don't know what advice to give him...can you help me?
HE WOULD BE ABLE TO FILE BANKRUPTCY, WHAT HE SHOULD DO IS START BY GETTING THE REQUIRED PRE FILING CERTIFICATE, AND THEN APPLY FOR A CHAPTER 7 BANKRUPTCY.
Customer: replied 7 years ago.
I know that chapter 7 is total bankruptcy, can he not file Chapter 11 ? Or is it the fact that he was in jail for the month and lost his job or that he is 3 months behind on truck payments?
A CHAPTER 11 IS FOR COMPLEX CORPORATIONS WITH SIGNIFICANT ASSETS SUCH AS GENERAL MOTORS, HE WOULD DO A CHAPTER 7.
Customer: replied 7 years ago.
Sorry I meant Chapter 11, is this feasible? By the way, thank you for your patience, not an after thought.
NO A CHAPTER 11 IS NOT FOR HIM, UNLESS HE HAS A BUSINESS, HE NEEDS TO FILE A CHAPTER 7 PERSONAL BANKRUPTCY HE CAN DO A CHAPTER 13, IF HE HAS INCOME ABOVE THE STATE MEAN, NOT A CHAPTER 11. HIS CRIMINAL RECORD HAS NO BEARING ON THE FILING.
Customer: replied 7 years ago.
I did it again I meant 13 In a case like this can he still file 13 on a truck that is 3 or so months in payments?
ONLY IF HE HAS INCOME THAT IS LARGE ENOUGH TO COVER HIS EXPENSES, HE CAN FILE A CHAPTER 7 AND KEEP THE TRUCK, IF HE HAS A LOAN ON IT.
Customer: replied 7 years ago.
By expenses do you mean living or making up for the months he's behind?
LIVING EXPENSES, FOR A CHAPTER 13, HIS CURRENT MONTHLY INCOME HAS TO E MORE THAN HIS CURRENT MONTHLY EXPENSES.
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