Bankruptcy Law

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Related Bankruptcy Law Questions
What happens if a debtor gets converted to a chapter 7 and
What happens if a debtor gets converted to a chapter 7 and his wife claims to own 50% of the debtors primary residence? Can the property be liquidated if it is shown that the debtor gave his wife owne… read more
Terry L.
Terry L.
Attorney
Doctoral Degree
2,772 satisfied customers
I need an explanation of the Homestead Exemption and how it
I need an explanation of the Homestead Exemption and how it works during a Chapter 7 filing.In Louisiana, there is a $35,000 homestead exemption on the primary residence. Let's say that I have a home … read more
Phillips Esq.
Phillips Esq.
Attorney-at-Law
JD
23,505 satisfied customers
We have a home in North Carolina and are wondering if it would
We have a home in North Carolina and are wondering if it would be exempt in a bankruptcy filing? We have a 160,000 mortgage on a home worth @260,000. It's in both husband and wife's name.… read more
KLAW
KLAW
Juris Doctorate
2,616 satisfied customers
How long does trustee have to come after my assets? We had
How long does trustee have to come after my assets? We had chap 7 discharge in Dec 2014, but case not closed yet. We have second house that is rented to rent paying tenants. I've seen email chatter ab… read more
socrateaser
socrateaser
35,661 satisfied customers
I need some advice on bankruptcy. I own my home, and I also
I need some advice on bankruptcy. I own my home, and I also have a rental property. I might have to declare bankruptcy. Is there a way to be able to protect my properties from being taken away from me… read more
TJ, Esq.
TJ, Esq.
Juris Doctor (JD)
11,599 satisfied customers
I filed a voluntary petition chapter 7 on 10/27/2011. The
I filed a voluntary petition chapter 7 on 10/27/2011. The meeting of creditors was 12/7/2011. I declared in schedule B 1790.00 ( households goods) I declared in schedule C 1790.00 ( households goods) … read more
TJ, Esq.
TJ, Esq.
Juris Doctor (JD)
11,599 satisfied customers
A debtor who lives in the state of Colorado and is filing a
A debtor who lives in the state of Colorado and is filing a chapter 7 BK owns a condominium that she doesn't live in and has an equity of $16,000. It doesn't appear that there is any exemption availab… read more
cfortunato
cfortunato
J.D.
7,967 satisfied customers
Debtors after attending the trustee meeting was informed that
Debtors after attending the trustee meeting was informed that they need to file an amendment to add their declared real property (residence) in Schedule A to Schedule C; debtors house or residence's "… read more
cfortunato
cfortunato
J.D.
7,967 satisfied customers
What is considered abandonment when it comes to the Homestead
What is considered abandonment when it comes to the Homestead Act in Massachusetts? My in-laws are filing chapter 7 and the trustee is challenging the homestead. They plan on renting the property for … read more
cfortunato
cfortunato
J.D.
7,967 satisfied customers
Im in a chap 13 and because of unemployment I defaulted on
I'm in a chap 13 and because of unemployment I defaulted on the payments.The chap 7 trustee wants to sell my house because of the equity. I can't get a modification because of the equity to try to low… read more
cfortunato
cfortunato
J.D.
7,967 satisfied customers
I am in a Ch 7 asset case. The discharge of debt was granted
I am in a Ch 7 asset case. The discharge of debt was granted on 10-14-10. I got involved with a BK mill. My case has been executed with neglect and error. This is tragic. Against my request my BK atto… read more
TJ, Esq.
TJ, Esq.
Juris Doctor (JD)
11,599 satisfied customers
I am half owner in a house with my sister. In spite of my
I am half owner in a house with my sister. In spite of my admonishment that she could not file bankruptcy if it would risk the house, she went ahead and filed, telling me the atty assured her the hous… read more
Phillips Esq.
Phillips Esq.
Attorney-at-Law
JD
23,505 satisfied customers
I have filed chapter 7 bankrutcy in Virginia..I have numerous
I have filed chapter 7 bankrutcy in Virginia..I have numerous properties but the ones that the trustee has decided having equity is my primary residence and the property adjacent to me..both are zoned… read more
TJ, Esq.
TJ, Esq.
Juris Doctor (JD)
11,599 satisfied customers
I have significantly overextended myself financially and it
I have significantly overextended myself financially and it appears that bankruptcy is my only out. If I have a choice, which state would be the better (for me) to file – and why: California or Arizon… read more
wallstreetfighter
wallstreetfighter
Attorney
Doctoral Degree
11,809 satisfied customers
I filed for BK in may 04, Asset based BK is still open today
I filed for BK in may 04, Asset based BK is still open today (trustee has $150K cash in hand), they seized a 100' boat and two houses. They held the houses in the estate for 4YEARS! They recently rele… read more
socrateaser
socrateaser
35,661 satisfied customers
I am in 80k credit card debt with 3 homes. One is my primary,
I am in 80k credit card debt with 3 homes. One is my primary, 2 are rentals. My husband (currently separated from- 2 months) does not want to file to help me out of my debt. I understand that my husba… read more
Ellen
Ellen
Attorney
Doctoral Degree
21,737 satisfied customers
We have equity in our home, and also a judgment lien against
We have equity in our home, and also a judgment lien against it. We need to move due to my husband's Alzheimer's. With the real estate market so bad, lowering our selling price would leave us with no … read more
JoeLawyer
JoeLawyer
Attorney
Juris Doctorate
376 satisfied customers
i own a primary home in ny and an investment home in nj. if
i own a primary home in ny and an investment home in nj. if i claim backruptcy is there a chance that i keep my primary home in ny and continue paying the mortgage for the primary home?… read more
JP
JP
Doctoral Degree
109 satisfied customers

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Meet the Experts:

Terry L.

Terry L.

Attorney

2,772 satisfied customers

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

cortrightlaw

cortrightlaw

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

JoeLawyer

JoeLawyer

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376 satisfied customers

Attorney in the practice of Bankruptcy Law since 1996

A.J.

A.J.

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Experienced consumer bankruptcy attorney.

Fritz

Fritz

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

Law Girl

Law Girl

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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.

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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).

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