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Ask Ellen Your Own Question
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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Thank you for your answers!!! I am noticing a" bonus " step,

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Thank you for your answers!!! I am noticing a" bonus " step, which I would like to adress after my creditor meeting goes well!!! in meantime:
I own second condo, (165K and 40K) valued at 70 K . $ 300 hoa fees per month. I will surrender it in my bk, and will proceed to notify bank accordingly. I will be liable for any post bankruptcy Hoa dues and plan on paying them. Do I list them on schedule J (current expenses)
*This chat is not intended as legal advice. It is general information that may or may not apply to your situation and should not be relied upon.*

Thank you for your new question. Bonuses are not mandatory but of course they are appreciated :-)

Yes you would list the HOA fees on schedule J.

I have a couple of questions that you may want to consider:
1. Do you know that a Chapter 13 could permit you to strip down the 2nd lien position on both your house and the rental.
2. Are you aware that your interest in the corporation must be listed as an asset and if it does not fall within your exemptions, the trustee may take the corporation
Ellen and other Bankruptcy Law Specialists are ready to help you
Customer: replied 4 years ago.

Wow. thats a new curve ball. My corporation has no assets, no inventories other than approx 100$ worth of exercise equipment i use with my patients. there is nothing to take? ! in chapter 13 scenario, I would either surrender my rental, or repay market value less resale costs in 5 years, which I find impossible due to low disposable income. Re my primary home, my first loan was modified, i was sued for monetary compensation on second ( haven't paid it in 10 months). I replayed with motion to dismiss on technicality. I plan to let it go in bk, and later down the road, issue them permission to talk to me and settle for clean lien for 5-10 cents on a dollar. Unless, in our discussion I will learn it is beneficial for me to attempt to strip 2nd lien in bk 7. But then i think i have to take home exemption? And I was hoping for 1k +4 K exemption.

Please open a new page so I may address these questions