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cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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In regards XXXXX XXXXX in 2008, i filed for bankruptcy,

Resolved Question:

In regards XXXXX XXXXX in 2008, i filed for bankruptcy, how many years needs to pass before i can file again? and, i have a Supreme Court judgement, against me for $175,000.00. Can a Supreme Court Judgement be discharged through Bankruptcy? I am retired age 64. ,i live in New York State., in a rented apartment. My assets are a retirement Manufactured home in Florida, paid for. , and 2 cars, both over 10 years old., i live on Social Security and a retirement annuity. I am very stressed and do not know which way to turn. I lost a civil court case and have no way to pay this judgement. What can i do?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 5 years ago.
Hi JACustomer,
1) What is the judgment for?
2) Does it have anything to do with fraud, or malicious injury?
3) What is the current market value of your home in Florida?
Customer: replied 5 years ago.
Yes, fraud, i can not afford to defend my position. Value of Florida home , aprx. $45,000. No criminal charges filed.
Expert:  cfortunato replied 5 years ago.

Last questions:

1) What are the current market values of your cars?

2) Is the retiement annuity tax-exempt? In other words, did you not have to pay tax on the funds that went into that annuity?

Customer: replied 5 years ago.
Current market value on cars. 0ne car is a 1996 16years old, value aprx $600.00 to $800.00. The other car is a 2001 11years old. value aprx $2000.00 to $3500.00 The funds that went into the annuity were taxed when they were earned. , then i purchased a annuity for income. The earnings from the annuity are reported and taxed each year. the retirement annuity is not tax exempt.
Expert:  cfortunato replied 5 years ago.

Thank you for your response.

You have to wait 8 years to file another Chapter 7 Bankruptcy, but can file a Chapter 13 Bankruptcy after 4 years.

Although Supreme Court judgments are generally dischargeable in a Bankruptcy, no judgment based on fraud can be discharged. Bankruptcy Stat 523(a).

You will be able to keep the home if you change your primary residence to Florida and file a homestead declaration for the home, which would involve living in Florida for at least 183 days of the year.

You will be able to keep one car only.

Your Social Security income is exempt (protected) from collection, so the judgment creditor will not be able to touch your Social Security, but unfortunately, your annuity can be taken.

 

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

Customer: replied 5 years ago.
I am a little confused. What is a chapter 13, also as of june 28th it will be 8years since the last bankrupcy. As far as the cars. My wife drive one car and i the other . Does this have a bearing on the issue. Also, i forgot to state , i have a small pension from a company i worked for, for several years , this is a very small pension, $435.00 a month.
Expert:  cfortunato replied 5 years ago.

You initially said, "in 2008, i filed for bankruptcy". If you filed in 2008, that was 4 years ago. However, if you filed 8 years ago as of June 28, you can file another one after this June 28.

Chapter 13 Bankruptcy requires monthly payments for up to 5 years.

If your are married, you will be able to keep both cars.

Your pension income is also exempt from collection.

Customer: replied 5 years ago.
I am so sorry for the typo, i filed in 2004. i am a little tired since this situation has me very stressed out and i am not sleeping well, i awake after 4 or 5 hours of sleep., i have been up since 3:45 a.m this day. I want to thank you so much for this information.
Expert:  cfortunato replied 5 years ago.

You're welcome!

Customer: replied 5 years ago.
I promise after this further statement i will wrap this up and accept the answer, and tip you. If the judgement is uncollectible and my assets are not seized, other than the annuity. How would the judgement ever be off the record? , and could my final estate , upon death, be attached.??
Expert:  cfortunato replied 5 years ago.

1) If the judgment is not satisfied, it can remain on your credit report for 20 years, after which time the judgment will expire. (If the judgment is already attached to specific property (real or personal), it can then be renewed for an additional 10 years, but if the judgment was not used to place a lien on property, it cannot be renewed.)

2) Yes - your estate will be subject to the judgment.

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