Bankruptcy Law

Bankruptcy Law Questions? Ask a Bankruptcy Lawyer.

Ask a Lawyer,
Get an Answer ASAP!

Bankruptcy Law
This answer was rated:

If someone is incarcerated, should they declare bankruptcy

? If so, what sort...
If someone is incarcerated, should they declare bankruptcy ? If so, what sort. If they are in Florida will they have to appear at a hearing or can arrangements be made.
They have substantial credit card debt and an upside down mortgage with a second mortgage on a home that they will probably never be allowed to return to. Is it better to declare bankruptcy or simply wait for creditors to pursue you? We contacted a local attorney but they had no experience dealing with a prisoner.
Show More
Show Less
Ask Your Own Bankruptcy Law Question
Answered in 19 minutes by:
3/3/2011
cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8,023
Experience: Bankruptcy professor.
Verified

Hi JACustomer,

It is possible, but difficult, to file a Bankruptcy while in jail. Unless the prisoner has significant assets of value - such as a house, or bank accounts - there is nothing the creditors can do while the debtor is in jail.

Accordingly, it is often better to wait until out of jail before filing a Bankruptcy.

 

I think this is what you wanted to know. If not, please let me know.
Thank you!

Ask Your Own Bankruptcy Law Question
Customer reply replied 6 years ago
What would be the implications on a shared asset? He holds a third share in another house with my wife and her sister. Could they be forced to sell or would it be better if he deeds over his share. They cannot afford to buy him out and that money would only go to creditors if they did.

1) What is the market value of the home, and 2) what is the balance - if any - of the mortgage?

3) Did he live in that house?

Ask Your Own Bankruptcy Law Question
Customer reply replied 6 years ago
The house belonged to their parents and is owned free and clear
Hard to put a value on it in current market. Similar property in same location advertised for $280,000. There is also land attached.

He lived in it as a child but since the parents passed, it has been a vacation home and is now rented to a family.

Unfortunately, his creditors can force the sale of the house to get his 1/3 share. Since he already owes the money, transferring the deed out of his name will not help, as such a transfer can be viewed as a "fraudulent transfer" and can be reversed.

Lastly, since the house was not used as his residence, there would be no homestead exemption available if he filed a Bankruptcy.

cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8,023
Experience: Bankruptcy professor.
Verified
cfortunato and 87 other Bankruptcy Law Specialists are ready to help you
Ask your own question now
Ask cfortunato Your Own Question
cfortunato
cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8,023
8,023 Satisfied Customers
Experience: Bankruptcy professor.

cfortunato is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Terry L.

Terry L.

Attorney

2,672 satisfied customers

Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.

cortrightlaw

cortrightlaw

Attorney

511 satisfied customers

Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.

JoeLawyer

JoeLawyer

Attorney

376 satisfied customers

Attorney in the practice of Bankruptcy Law since 1996

A.J.

A.J.

Attorney

262 satisfied customers

Experienced consumer bankruptcy attorney.

Fritz

Fritz

Attorney

209 satisfied customers

Florida attorney with extensive experience in Chapter 7 and Chapter 13 consumer bankruptcy cases

Law Girl

Law Girl

Attorney

153 satisfied customers

I am an attorney.

Paul K, Esq.

Paul K, Esq.

Attorney

141 satisfied customers

10 years Exp., Great customer service, Prompt responses.

< Previous | Next >

Related Bankruptcy Law Questions
Pro Se:Legal Aid for Bkruptcy? Can Judge order us to get an
Pro Se:Legal Aid for Bkruptcy? Can Judge order us to get an attorney? Can we find attor to wk for us? Removed case from st. court due to improper $200, judgement due to a loan that was'nt properly han… read more
KUMI95
KUMI95
Attorney
Doctoral Degree
17 satisfied customers
I filled for bankruptcy that was discharged on March 24,
I filled for bankruptcy that was discharged on March 24, 2017. Then I got a medical bill that was not included in the list of creditors during the bankruptcy process. Since this bill was incurred befo… read more
LegalGems
LegalGems
Juris Doctorate
10,224 satisfied customers
My mom and I had refinanced her home to combine our credit
My mom and I had refinanced her home to combine our credit card debt. My sister took over as POA and went and had the loan put in a reverse mortgage w/ out me knowing about it ( I was co-signer) and w… read more
cfortunato
cfortunato
Attorney
8,023 satisfied customers
If in a divorce decree it is court ordered for the credit
if in a divorce decree it is court ordered for the credit card debt to be paid by both parties can one party include that debt into a bankruptcy… read more
JP
JP
Doctoral Degree
109 satisfied customers
I am going to be 60 in 2 weeks. I recently went out on 100%
I am going to be 60 in 2 weeks. I recently went out on 100% SS Disability for mental health. I have a condo valued at about $175,000 and owe about $100,000. My car is paid off and I have about $15,000… read more
KUMI95
KUMI95
Attorney
Doctoral Degree
17 satisfied customers
My wife and I filed bankruptcy in 1999, it has been
My wife and I filed bankruptcy in 1999, it has been discharged and is no longer listed on our credit reports. Our problem is that we owe 100K in credit card debt, my wife has lost her six figure incom… read more
FiveStarLaw
FiveStarLaw
Attorney
Doctoral Degree
477 satisfied customers
I have huge credit card debt. I make alot of money also. All
I have huge credit card debt. I make alot of money also. All my bills are current. The credit card companies have raised the intrest rate to 25.99%. Can I declare bankruptcy?… read more
TaxAttorneytoHelp
TaxAttorneytoHelp
Owner
Doctoral Degree
2,542 satisfied customers
I've got approx. $30,000 credit card debt. i live on $749 a
i've got approx. $30,000 credit card debt. i live on $749 a month social security disability. i've got a home morgage of like $69,000. i've been using the credit cards to make ends meet. the credit ca… read more
FiveStarLaw
FiveStarLaw
Attorney
Doctoral Degree
477 satisfied customers
What situation claim bankrupcy? I only get temporary
What situation claim bankrupcy? I only get temporary maintenance, but I can not pay taxes. I am still middle of divorce, I barely pay rent, I pay Lagan fees from credit card debts. Tax penalty and int… read more
DrakeLAW
DrakeLAW
Juris Doctorate
843 satisfied customers
I have substantial credit card debt, and i am currently
I have substantial credit card debt, and i am currently unable to make the monthly payments.… read more
Ray
Ray
Lawyer
Doctoral Degree
30,268 satisfied customers
I need to ask a question about filing for bankruptcy and
I need to ask a question about filing for bankruptcy and loosing my properties … read more
DrakeLAW
DrakeLAW
Juris Doctorate
843 satisfied customers
I have over $100K of credit card debt and my revenues do not
I have over $100K of credit card debt and my revenues do not allow me to pay my debts. If I file for personal Bankruptcy, will I be able to keep my LLC and a business bank account? … read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
5,972 satisfied customers
Currently I have 2 credit card debts with a total amount of
Currently I have 2 credit card debts with a total amount of $15,000. I also have many other unpaid bills that I can't afford to pay. I'm making less than $45,000/year and going through a divorce (I ho… read more
INFOLAWYER
INFOLAWYER
Partner
Doctoral Degree
55,486 satisfied customers
My wife accumulated a lot of credit card debt and now she
My wife accumulated a lot of credit card debt and now she wants to file chapter 7. How will this relate to me and my assets, inclufing my home which I bought ling before we were married and is only in… read more
DrakeLAW
DrakeLAW
Juris Doctorate
843 satisfied customers
I am a homeowner with close to $35,000 in credit card debt.
Good morning, I am a homeowner with close to $35,000 in credit card debt. I find myself in a deficit of about $250/mo paying mortgage, household expenses, and credit card payments. Would I be eligible… read more
Terry L.
Terry L.
Attorney
Doctoral Degree
2,672 satisfied customers
Credit Card debt. I'm in California my wife lives in France.
Credit Card debt. I'm in California my wife lives in France. IM filing for BK chapter 7. Separate from my wife. I stopped paying on a credit card in 2005. We got married in 2006. Cach LLC picked up th… read more
INFOLAWYER
INFOLAWYER
Partner
Doctoral Degree
55,486 satisfied customers
I just got served a lawsuit for a credit card debt. It was
I just got served a lawsuit for a credit card debt. It was my ex wifes card but my name was on it. In our divorce papers it says it's her responsibility. That was in 2010. She had already stopped maki… read more
Roger
Roger
Litigation Attorney
Doctoral Degree
26,812 satisfied customers
Credit Card Debt vs PERSONAL LOAN (LENDING CLUB;PROSPER)
Credit Card Debt vs PERSONAL LOAN (LENDING CLUB;PROSPER) DEBTHello ., I lost my job and I am not able to make payments on my Debts,both Credit Crad Debts and Personal Loan Debts(Prosper and Lending Cl… read more
LegalGems
LegalGems
Juris Doctorate
10,224 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x