Finance

Have finance questions? Ask a financial expert online.

Ask an Expert,
Get an Answer ASAP!

I had a business which I closed due to the fact I could not…

Customer Question
I had a business...

I had a business which I closed due to the fact I could not survive the downturn in business. I have some debts that I cannot pay. I have a house with equity of circa $100000 and one of my debtors (I owe them approx. $55000). This company wants to bankrupt me and take my house. Whilst working until Sept 2017, I was paying them $1500 per month, but have recently applied for Newstart which will be $540 per fortnight. I am staying on a property in my campervan and renting out my house (to make mortgage payments of $335 weekly). How can I stop them

Accountant's Assistant: Because real estate law varies from place to place, can you tell me what state this is in?

WA

Accountant's Assistant: Has anything been filed or reported?

No, I am in touch with their solicitors and have offered to pay $500 per month, but they insist on the original deal of $1500

Accountant's Assistant: Anything else you want the lawyer to know before I connect you?

Can my son (whom I owe wages to) put caveat on the house to stop the bankruptsy

Submitted: 3 months ago.Category: Finance
Show More
Show Less
Ask Your Own Finance Question
Answered in 1 hour by:
1/4/2018
Financial Professional: PDtax, CPA, MBA replied 3 months ago
PDtax
PDtax, CPA, MBA
Category: Finance
Satisfied Customers: 5,011
Experience: Tax professional and business consultant for 35 years.
Verified

Hi from Just Answer. I'mCustomer and can assist.

Ask Your Own Finance Question
Financial Professional: PDtax, CPA, MBA replied 3 months ago

Please confirm your location.

Ask Your Own Finance Question
Was this answer helpful?
Ask Rakhi Vasavada Your Own Question
Rakhi Vasavada
Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 2,609
2,609 Satisfied Customers
Experience: Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years

Rakhi Vasavada is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Rakhi Vasavada

Rakhi Vasavada

Financial and Legal Consultant

2,609 satisfied customers

Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years

Megan C

Megan C

Certified Public Accountant (CPA)

2,218 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

Manal Elkhoshkhany

Manal Elkhoshkhany

Tutor

1,920 satisfied customers

More than 5000 online tutoring sessions.

JKCPA

JKCPA

CPA

844 satisfied customers

Bachelors degree and CPA with Accounting experience.

Eric

Eric

Financial Manager

559 satisfied customers

Loan servicing, counseling and real estate expert. Foreclosure Expert and Financial Planner.

R. Klein, EA

R. Klein, EA

Accountant

480 satisfied customers

TurboTax Expert. QuickBooks Certified Pro Advisor

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

332 satisfied customers

NASD Licensed Rep, 1997-2001, Business Attorney

< Previous | Next >

Related Finance Questions
I recently started my own LLC (single-member) and I have a
I recently started my own LLC (single-member) and I have a consulting business with no real write-off's. I was going to lease a new vehicle in hopes to create a write-off, and was wondering if I shoul… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
My question is I am 150000 in debt can you tell me what
my question is I am 150000 in debt can you tell me what would be the best way to get out of my hardship? … read more
ABC Accounting Group
ABC Accounting Group
Bachelor\u0027s Degree
828 satisfied customers
If I pay for a condo which I intend to rent with funds from
If I pay for a condo which I intend to rent with funds from home equity loan, is the interest on the home equity loan deductible as expense on Schedule E? … read more
abci168
abci168
Principal
27 satisfied customers
I am in the process of shutting down my company and filing
I am in the process of shutting down my company and filing for corporate bankruptcy. It will take a few months to shut down. Can I pay myself $10,000 throw the process or once I file will I have to re… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
I have been advised by financial experts to make a Town home
Hello I have been advised by financial experts to make a Town home rental property as an LLC so their is safety in terms of liability involved while renting the house out. The rent will be $3000. Howe… read more
Bryan Mullis
Bryan Mullis
Managing Partner
Masters of Accountancy
27 satisfied customers
Lane. Still following up on the SS exemption question—I a
Hi Lane. Still following up on the SS exemption question—I a 501(c)3 church automatically exempt from SS withholding for it's employees or does each individual employee need to opt in or out? Is there… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
I pay myself from my company primarily through S-Corporation
I pay myself from my company primarily through S-Corporation payments. I record the payments on my tax returns. In the past sometimes I pay myself through Quicken and I deduct the taxes. I pay off all… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I am a member of a family irrevocable trust originated by my
I am a member of a family irrevocable trust originated by my parents. They are both deceased and left oldest son as trustee. There are total of 8 children who were original beneficiaries.My question i… read more
Bryan Mullis
Bryan Mullis
Managing Partner
Masters of Accountancy
27 satisfied customers
We are Canadians living in US w/perm residence as spouse was
We are Canadians living in US w/perm residence as spouse was transferred to US for work ...after working for company in Cayman Islands for 8 years. We have funds in Pension Plan in Cayman and have rec… read more
TaxRobin
TaxRobin
Vocational, Technical or Trade School
1 satisfied customers
I NEED HELP IN GETTING A PENSION LOAN CAN YOU HELP ME PLEASE
I NEED HELP IN GETTING A PENSION LOAN CAN YOU HELP ME PLEASE ?? … read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
10 satisfied customers
In continuation to my previous question, what if there are 2
Hello, in continuation to my previous question, what if there are 2 members within a family under the LLC, such as husband/wife or father/son. can the LLC be included in the tax returns of both partne… read more
Bryan Mullis
Bryan Mullis
Managing Partner
Masters of Accountancy
27 satisfied customers
My tax preparer who had done my taxes for nearly ten years
my tax preparer who had done my taxes for nearly ten years has made an error which the its is charging me for. I have not yet approached the person. Are they liable for this error or even if I have be… read more
Carter McBride
Carter McBride
LLM
967 satisfied customers
What are the consequences of retiring at age 60 or 61 after
Second opinion] What are the consequences of retiring at age 60 or 61 after working at the same job continuously for 11 years? … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Not duplicate -- I need to book the following scenario in
Not duplicate -- Hello, I need to book the following scenario in Quickbooks: Customer Invoiced for $1,000. They paid us $1,000 using pay pal but we only received $970.70 after fees. How do I apply thi… read more
Marcia Mitrano
Marcia Mitrano
MBA
62 satisfied customers
We are a LLC based in DE, owned by two non-resident aliens.
We are a LLC based in DE, owned by two non-resident aliens. We sell services (no physical product) to US and International customers. As LLC, we tax our US-based income, not non-US income. (We then ta… read more
Barbara
Barbara
Enrolled Agent, Paralegal
4,943 satisfied customers
I am in the process of saving plan for first home purchase
Hi I am in the process of saving plan for first home purchase with a known company.They have advised that if I can prove that I demonstrate some saving in 3 months time, they will provide a pre-loan a… read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
10 satisfied customers
A SEVERANCE PAYMENT OF ABOUT 27,000.00. THEY WILL ONLY
i AM RECEIVING A SEVERANCE PAYMENT OF ABOUT 27,000.00. … read more
ABC Accounting Group
ABC Accounting Group
Bachelor\u0027s Degree
828 satisfied customers
I am helping my son out with his income tax. Last year he
I am helping my son out with his income tax. Last year he was a first time home buyer - a condo worth $170,000. Is there a first time home buyer's credit I should have used last year - which I could s… read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
10 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x