Bankruptcy Law

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Related Bankruptcy Law Questions
Chapter 7 bankruptcy question about exemptions...are the
Chapter 7 bankruptcy question about exemptions...are the exemptions for different categories of items? For example I could have $3000 worth or guns and $5000 in cash but if I had no guns and $8000 in … read more
Elizabeth
Elizabeth
Law Clerk II
JD
10,300 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
JD
31,435 satisfied customers
I make 26.14 an hour with the occasional overtime. My income
I make 26.14 an hour with the occasional overtime. My income in a month after taxes is 3288.00. My debt exceeds my income. I am wondering if I would be a good candidate for chapter 7 bankrutpcy or if … read more
Terry L.
Terry L.
Attorney
Doctoral Degree
2,960 satisfied customers
This is a Chapter 7 case. The Debtor filed and was discharged
This is a Chapter 7 case. The Debtor filed and was discharged in 2011. There was lien on some real property he owned with his spouse. It was not homestead property and it was abandoned by the Trustee.… read more
wallstreetfighter
wallstreetfighter
Attorney
Doctoral Degree
11,811 satisfied customers
My sister is 66 and never worked. She has no income and doesnt
My sister is 66 and never worked. She has no income and doesn't qualify for SS. To provide for her financial needs my mother left her a $500K lake side home and a $25K home which was her grandparent's… read more
Roger
Roger
Litigation Attorney
Doctoral Degree
27,362 satisfied customers
I heard that If I try to include the debt(default judgment
I heard that If I try to include the debt(default judgment with fraud charge) the creditor will most likely open a adversary hearing. Would it be hard to prove that it wasn't a fraud through adversary… read more
wallstreetfighter
wallstreetfighter
Attorney
Doctoral Degree
11,811 satisfied customers
Hi, considering a full chapter 7 bankruptcy for the corporation
Hi, considering a full chapter 7 bankruptcy for the corporation at this point. I personally have guarantees on much of the corporate debt (all revolving credit cards.) If the only assets I have are re… read more
cfortunato
cfortunato
J.D.
7,967 satisfied customers
We are seriously considering converting our chapter 13 bk to
We are seriously considering converting our chapter 13 bk to chapter 7. We owe approximately $125,000 on our first and approximately $75,000 on our second and approximately $5,000 on the third. So... … read more
cfortunato
cfortunato
J.D.
7,967 satisfied customers
How long can I wait to file for Chapter 7 bankruptcy in North
How long can I wait to file for Chapter 7 bankruptcy in North Carolina? I will possibly have a judgment lien placed on my home for a mortgage default on investment property. If so, can I wait for a nu… read more
cfortunato
cfortunato
J.D.
7,967 satisfied customers
Im trying to determine WHEN to file my chapter 7 bankruptcy.
I'm trying to determine WHEN to file my chapter 7 bankruptcy. But that answer can only be know after determining how much of my cash savings will be exempt from the bankruptcy trustee. Chapter 7 bankr… read more
cfortunato
cfortunato
J.D.
7,967 satisfied customers
I have a lien on the title of my home. am trying to refinance.
I have a lien on the title of my home. am trying to refinance. Had a BK 07aug2009 discharged. Debt on lien is auto that was repoed. 17,000 dollar lien. Judgement was 11 months prior to BK13 that was l… read more
cfortunato
cfortunato
J.D.
7,967 satisfied customers
I am from Tennessee and our house is upside down in value value
I am from Tennessee and our house is upside down in value value 900000 K, loan 1.6 mill. JTWRS. Bank will not adjust loan to lower payment,. My net worth is(-200,000 K). No retirement funds left. MD, … read more
cfortunato
cfortunato
J.D.
7,967 satisfied customers
A judgement is about to be taken out on my fiancee and myself
A judgement is about to be taken out on my fiancee and myself for a joint credit card debt that has built up to the amount of $6800. The problem is that he owns real property with a $15,000 mortgage t… read more
Maverick
Maverick
Doctoral Degree
8,060 satisfied customers
I own a house with another individual in the state of Virginia,
I own a house with another individual in the state of Virginia, equity about 40K, all hers. I am disabled but looking for work with assets to last only about two more months. I have significant debt, … read more
Terry L.
Terry L.
Attorney
Doctoral Degree
2,960 satisfied customers
I WAS TRIED TO FILE A CHAPTER 7 BANKRUPTCY IN TENNESSEE AND
I WAS TRIED TO FILE A CHAPTER 7 BANKRUPTCY IN TENNESSEE AND WAS TOLD I COULD NOT BECAUSE I OWN MY HOME VALULED AT $49700. COULD I ADD ANOTHER PERSON NAME TO THE TITLE WOULD THIS MAKE ANT DIFFERANCE IF… read more
Brent Blanchard
Brent Blanchard
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Doctoral Degree
1,964 satisfied customers
I live in Texas. I understand that in a Chapter 7 bankruptcy,
I live in Texas. I understand that in a Chapter 7 bankruptcy, I can reaffirm a debt if my lawyer and the trustee agree that the payments would not be a financial hardship. Let's say I own a rental pro… read more
Maverick
Maverick
Doctoral Degree
8,060 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
37,075 satisfied customers
Can I keep my home and would any leins on it be removed if I
I own my own home in NY and it recently fell into the first stages of forclosure. We owe 280K on the 1st mtg and 142K on the 2nd and think the house is worth around 500K. We owe approx 50K - 60K in cr… read more
VanDLaw
VanDLaw
Attorney
Juris Doctor
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Meet the Experts:

Terry L.

Terry L.

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JoeLawyer

JoeLawyer

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A.J.

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Law Girl

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I am an attorney.

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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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