QUESTION
can I discharge a department of real estate owed money?
Asked on Aug 18th, 2016 on Bankruptcy - California
More details to this question:
I am a licensed real estate agent and I owe the department of real estate some money for a default judgement entered into 3 years ago by a client that claims he paid me money and i didn't perform his loan modification properly. I was overseas and I didn't go to court so they entered a default judgement and paid him $7,500. Now the DRE is claiming I owe them $8,500. Can I discharge that through BK Ch 7?
1 ANSWER
Bankruptcy Attorney serving Burbank, CA
Partner at
Law Office of Mark J. Markus
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Is the DRE a state agency? Is it the same as the California BUREAU of Real Estate? Whether it would be dischargeable in Chapter 7 will depend on whether the debt you owe them if for a "fine, penalty, or forfeiture". If it is simply compensation to them for a loss, then it should be dischargeable. Either way it would be dischargeable in a Chapter 7 case.
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Answered on Aug 18th, 2016 at 12:14 PM