Arizona Bankruptcy Legal Questions

You can always refile a case if no discharge has been issued though if you file to many the court may object. The key here is that if the math says you have to pay a certain amount then that amount is probably not going to change. With a Chapter 13 the payment is pretty much based on the math of what you earn less what the court allows for expenses.... Read More

You can be sued for an auto loan deficiency. Winning the lawsuit is a prerequisite to garnishment, however. There are required statutory notices that are prerequisite to winning a lawsuit against you for an auto loan deficiency. The required contents of these notices are found in your states version of the UCC article 9. You or your attorney should review the states article 9 requirements carefully to determine whether or not the creditor complied.... Read More

An auto finance or loan company that repossesses collateral can sell it and recover a deficiency if it shows that the sale is commercially reasonable. There cannot be a garnishment or wage deduction unless they sue you, serve you with process, and obtain a judgment. A cosigner in Illinois is entitled to written notice of default and an opportunity to take over the contract payments before any collection action is taken, including credit reporting and repossession. 815 ILCS 505/2S. The cosigner should determine whether there has been a violation, and whether the alleged debt appears on their credit reports.... Read More

As to the car it depends on the exemptions in the state where you live. In Arizona the exemption allowance is currently $5,000, but will change to $6,000 on September 14th. Please understand that bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step.... Read More

Yes, you can buy a car with cash before you file Chapter 7. However, be careful about how much you spend. You don't want to buy a car that is worth enough for the Chapter 7 Trustee to liquidate it. The federal exemption (which you can use in Oregon now) for an automobile is $3,675. So, if you buy a car that is worth $5,000, it will have $1,325 of non-exempt value, and you might have to pay the Trustee $1,325 to keep the vehicle.... Read More

It is very unlikely that your car would be repossessed while your Chapter 7 was open, since the lender has to file a motion to lift the stay and obtain an order from the court before they can repo your vehicle. That process takes at least 8 weeks, your bankruptcy should be over in 12 weeks, so unless the motion was filed within days of you filing your bankruptcy (and why would the creditor pay legal fees to get the car back 4 weeks earlier), so I would suggest waiting until after the bankruptcy is completed to do this. However, you can do this if you like.... Read More

You should categorically not take money out of your 401k that is exempt in bankruptcy, to buy a car that is subject to a limit on the amount that can be exempted. If you file bankruptcy, you should wait until your old car is repossessed and then buy an inexpensive replacement vehicle. If you can avoid using your 401k funds do so because once that money is out of the 401k it is very hard to put it back. Before you take any steps, consult with a bankruptcy attorney. Most will give you a free consultation.... Read More

The idea is that virtually everyone can file bankruptcy, it is just what chapter and whether it is in your best interests. With the limited information you provided, it sounds like bankruptcy would be a good fit but there are always more relevant facts. Visit with an attorney to see what fits your exact circumstances.... Read More

I'm sure your prior attorney is not the only bankruptcy attorney in your area (and if she is, let me know where that is and I'll move there and set up shop!).   Find a different attorney and have a consultation to see what your options are.  (Click Here for more information on hiring a bankruptcy attorney) You are responsible for the HOA fees incurred after your bankruptcy case was filed until the property is foreclosed.  Sometimes you can have these reduced or eliminated if you were not residing in the property and "enjoying" use of the facilities and common areas. If more than four years have passed since your prior Chapter 7 case, You can always file a Chapter 13 case and do a minimal monthly repayment to deal with the HOA dues.  You could end up only having to pay a fraction of what is owed. Good luck! Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.  ... Read More

1. If a judgment was entered, the amount of the judgment (plus court costs and statutory interest on the judgment and any award of attorney's fees) is conclusive of the amount you owed, under the doctrine of "res judicata." 2. If a judgment was not entered, it is likely that the Fair Debt Collection Practices Act was violated by one or the other statement of the debt (either the first statement is incorrect, or the second statement includes interest which is not owed or was waived).... Read More