Bankruptcy Law

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My husband and i were recently divorced after 26 years. In
My husband and i were recently divorced after 26 years. In the settilment I got the house and when I sell it I get 100% of any proceeds..however he declared bankruptcy a few years ago ...I did not..ca… read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
10 satisfied customers
Home equity is very high. MA Yes I have an attorney. Private
Private school tuition I need to declare bankruptcy as I have too much debt & interest rates too high. I have a kid in private school for personal reasons. My house is very valuable due to the current housing bubble. I don't want to sell my house. Is it possible for me to declare Chapter 13 at a 100% payback. My income is not high but this might be possible for me to pay. The homestead exemption is $500,000 where I live. I have some home equity...I'm not sure how much. I REALLY don't want to move (it will not help my financial situation given the rent prices). Now my house is worth 1.14 million dollars. It's a fixer-upper but my neighborhood is insane. The house has many cosmetic issues. I really must send my child to private school, though I know this sounds like a terrible indulgence. My kid has various issues that are just too much for him in public school. I read that if I pay back 100% of my debt that I can pay the tuition on the private school. It will be difficult to pay the huge amount in 5 years. My income is around median income. But I take it you have to pay in 5 years. You cannot pay in 7 years.… read more
Terry L.
Terry L.
Attorney
Doctoral Degree
3,002 satisfied customers
I live in NJ. I have a house. The value of the house is
I live in NJ. I have a house. The value of the house is around 500,000 and the remaining mortgage is about 320,000. I have been paying the mortgage, but I have credit card debts over 150,000. I want t… read more
Terry L.
Terry L.
Attorney
Doctoral Degree
3,002 satisfied customers
my son's mother received a notice from the Nassau county ny
my son's mother received a notice from the Nassau county ny marshall. it stated that he needed to pay 10 percent of his salary to payback 26000 to Hofstra. he did not take out a student loan. he enrol… read more
Roger
Roger
Litigation Attorney
Doctoral Degree
26,949 satisfied customers
If one gets sued, what are the chances of loosing ones primary
If one gets sued, what are the chances of loosing one's primary home? For the purpose of calculation of home equity, if one has a HELOC do we consider the equity line or the actual equity line used? F… read more
KUMI95
KUMI95
Attorney
Doctoral Degree
17 satisfied customers
I am filing for chapter 7. My business is in the red- and I
I am filing for chapter 7. My business is in the red- and I owe many vendors money. My personal income is borderline black/red- way behind on most bills. Defaulted over 100k on credit cards. Foreclose… read more
cfortunato
cfortunato
J.D.
7,967 satisfied customers
My wife and I have lived in Florida since 1985. We are 35 years of age. 12 months ago, we
My wife and I have lived in Florida since 1985. We are 35 years of age. 12 months ago, we decided to downsized our primary residence by paying cash for a smaller home, $225,000. We have 2 investment p… read more
FiveStarLaw
FiveStarLaw
Attorney
Doctoral Degree
477 satisfied customers
my wife and i have income of 160k a year.Do we make to much
my wife and i have income of 160k a year.Do we make to much to discharge 25k in credit card debt and can we keep our cars in the process?… read more
cfortunato
cfortunato
J.D.
7,967 satisfied customers
What if someone wants to go into bankruptcy (38K income 1 person
What if someone wants to go into bankruptcy (38K income 1 person w/1 dependent in the taxes) $40K of credit card debt. Person resides in NY. Person helped a sister to obtain a mortgage for a house in … read more
KUMI95
KUMI95
Attorney
Doctoral Degree
17 satisfied customers
We have a significant amount of debt that we were paying off.
We have a significant amount of debt that we were paying off. Then are family income droped about 40%, and we can't afford to pay the creditors at the moment. I want to emphasize, at the moment, becau… read more
FiveStarLaw
FiveStarLaw
Attorney
Doctoral Degree
477 satisfied customers
I co-own a house with my ex boyfriend that I cant pay for
I co-own a house with my ex boyfriend that I can't pay for by myself. He is filing bankruptcy and suggests that I file as well. I have another home that I own (by myself) and about $45,000 in credit c… read more
Terry L.
Terry L.
Attorney
Doctoral Degree
3,002 satisfied customers
I am single, I have no depentants, and my gross income (based
I am single, I have no depentants, and my gross income (based on last 6 months pay stubs) is about $60000. I live in Florida. I know if I file bankruptcy, it will have to be chapter 13. I have a car t… read more
Terry L.
Terry L.
Attorney
Doctoral Degree
3,002 satisfied customers
Questions concern Chapter 13 Bankruptcy State of Virginia The
Questions concern Chapter 13 Bankruptcy State of Virginia The concern is my home which is owned by me and another party, both living in the home. There are no other joint accounts. Home valuation = ab… read more
Terry L.
Terry L.
Attorney
Doctoral Degree
3,002 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
1,031 satisfied customers
I have $10,000 life savings in a bank account and almost $100,000
I have $10,000 life savings in a bank account and almost $100,000 in unsecured debt that I will be looking into Chapter 13. Can any of the creditors touch my life savings or put a lien on my savings?… read more
KUMI95
KUMI95
Attorney
Doctoral Degree
17 satisfied customers
Unfortunately my husband and I are looking into filing bankruptcy.
Unfortunately my husband and I are looking into filing bankruptcy. We have too much credit card debt ($70,000) and have barely enough to make the house payment,energy bills, etc. My husband's income h… read more
Terry L.
Terry L.
Attorney
Doctoral Degree
3,002 satisfied customers
I have two sums owed to me and I have a question about collection.
I have two sums owed to me and I have a question about collection. The first is for $125,000 I loaned to a man. It was secured by a Trust Deed against his house. When he didn't pay I went to court and… read more
Roger
Roger
Litigation Attorney
Doctoral Degree
26,949 satisfied customers
I was injured at work 2-8-2007 I am 60 years and 8 months old
I was injured at work 2-8-2007 I am 60 years and 8 months old my case was settle in Sept.2008.My expense for each month including the mortgage since 2005 are $5,000. I did not find any jobs and I am U… read more
Brent Blanchard
Brent Blanchard
Solo Practitioner
Doctoral Degree
1,964 satisfied customers

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Meet the Experts:

Terry L.

Terry L.

Attorney

3,002 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.

Attorney

262 satisfied customers

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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