Illinois Bankruptcy Legal Questions

The home is an asset of your mother's estate. It remains subject to the mortgage. The representative of the estate can complete the short sale once a probate is opened and the representative is appointed by the court. Opening a probate could set a time limit for claiming a deficiency against the estate. Claims must be filed within 6 months of actual notice of opening the estate being served upon the creditor. The mortgage could be paid off only if the other assets in the estate are sufficient to pay the outstanding balance due.... Read More

Speak with your divorce attorney or another family law attorney. If you are interpreting your divorce documents correctly, then you can make the case that your ex-wife should be responsible as well. If she is, however, her responsibility would be to you under the divorce. Her father can seek to enforce the debt against you and you in turn would have to collect her share.... Read More

It's not an issue of likely vs. unlikely.  Taxes are either dischargeable, or they are not.   Whether a tax is dischargeable or not depends on a number of factors, including the type of tax (e.g. income, sales, property, trust fund) age of the tax, when the returns were filed, when the taxes were assessed, and other criteria. It is not a guessing game and there are multiple exceptions and tolling provisions for each criteria.  For the general rules see my page on tax discharge in bankruptcy. In a Chapter 13 case, you are required to pay all priority taxes (those that are not dischargeable) 100% through your Plan.  Any non-priority taxes (which would be dischargeable) get paid whatever percentage you are paying unsecured creditors.  This assumes that the taxing agency does not have a lien against property on the date the case is filed.  If they do, then they are entitled to be paid the value of the assets on which their lien has attached.  This often needs to be negotiated. You need an very experienced bankruptcy attorney to analyze the dischargeability of the taxes and this requires obtaining transcripts of the tax owed from the taxing agency. 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

She would first have to get a judgment against the sister. One can not merely place a lien when they have a claim against someone, unless a statute gives them that right, such as a mechanics liens act for work done on property. Someone who says someone else owes them money must first sue and obtain a money judgment against the debtor in order to place a lien. If the sister who owes the money agrees, then she can assign her right to the sister who is owed the money.... Read More

I'm afraid it is impossible to counsel you with any surety given the outline of facts which you have provided. You state that the bank has discharged the loan, as it also released the lien on the fifth wheel camper. You are correct that the bank, if it is indeed forgiven the loan, will potentially be sending you a 1099 for forgiveness of debt which is taxable income to you. I would want to look at all of the various paperwork, the outstanding balance on the loan, the title record on the fifth wheel camper prior to the time I would dare give you any advice as to your best course of action.... Read More

Yes.  Whether a debt is dischargeable in bankruptcy has nothing to do with whether it is secured or unsecured. If a debt is secured, then the lien remains against whatever property it has attached to on the date the bankruptcy case was filed. So, if you want to retain the collateral, you obviously have to continue making the payments.  But after bankruptcy, you no longer have the obligation to do so, so you can always return the secured collateral with no further obligation. 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

You have covered the options quite well in your question. Usually, the cost effective route is to work through the agencies you mentioned, although it is hard to say what kind of results you will get and when. Yes, you can hire an attorney to sue, but the question is how far it will have to go. The costs will mount quickly. So, if you are not prepared for that, then you need to take your chances with the route you are going. Even if there is any chance of recouping attorney's fees, it is not likely that very many attorneys will consider a contingent fee. There are firms to which we refer consumer matters. A firm with that concentration may be more inclined to get involved. A BBB complaint may be helpful if the business responds. To protect others, post your own complaint on the BBB website and any other sites from which the dealer may be getting customers, but keep your complaint simple and to the point of what happened. Finally, if the dealer is a franchise of a larger company, you may try to move up the ladder with a complaint.... Read More

You probably should consult an attorney immediately. If you are financing your car, notify the NEW finance company immediately. They are liable for the dealer's nonperformance. Consider continuing to pay the old contract and deducting the payments from the new, informing the new finance company that is what you are doing.... Read More

1. If it says "payment in full" on the front or back or any accompanying paper, or there is any other indication it is being tendered as full payment, do not cash or deposit it unless you are willing to forego any other rights. 2. To be safe, if you seriously intend to pursue the sender for more money, you should notify the sender in writing prior to depositing or cashing the check that you think you are entitled to more and will deposit it on x date as part payment. Wait the specified time before depositing.... Read More

Generally, you need to be very careful when signing a contract. If you are told there is a right to cancel, ask to see it in the contract. In Illinois, there is a three-day right of rescission if an installment agreement offer is solicited (a door-to-door sale) and there are rights of rescission for a couple specific types of contracts, but generally contracts are binding. Here, there may be some arguments an attorney could try on your behalf, but there is no doubt that an attorney would look to be paid hourly to defend collection of your obligation. With a company like you describe, another question would be whether the attorney general's office would take a look at their conduct (perhaps there are already similar reports) or whether there would be some basis for a class-action attorney to think that enough people have been hurt by improper tactics or a scam.... Read More

Yes a 401(k) and IRA account are protected or exempt under the US bankruptcy code. There are several other exempt retirement accounts also. If you file for chapter 7 bankruptcy you will not lose your 401(k) or IRA accounts for your retirement. I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options. Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.    Joseph F. Botelho, Esq. BOTELHO LAW GROUP Attorneys At Law http://fallriverbankruptcyattorney.com/ 901 Eastern Ave.  Unit 2 Fall River, MA 02723  Office:  888-269-0688 FAX:    877-475-8147 #bankruptcy  #lawyer  #FallRiver  #Chapter7  #chapter13  #debt  #debtsettlement  #foreclosure  #attorney   #cantpaybills  #lawsuit  #court  #bankruptcycourt  #eviction  #lostmyjob... Read More

The general answer to each of your questions is yes, everything you note can be accomplished in a Chapter 13 case and is done often. That said, however, whether it can be accomplished in your case depends on a number of factors that cannot be analyzed without an office meeting and some time working with data such as: household income, necessary household expenses, total debt amount, debt type, ... The scope of this space does not afford an opportunity to assess the situation and advise you. I recommend you assemble for legal consultation: (1) your income information for December 2013 through the present, including wages and unemployment during that period; (2) all your bills (copies neatly assembled, back pages included); (3) last two years' tax returns; (4) a credit report; and (5) other information that may apply, such as copies of lawsuits. Call at your earliest convenience to afford the most opportunity in which to be advised about your best course. You are not required to use an attorney in your area. I do not recommend filing bankruptcy on your own. There are too many complex issues. I have seen several posts on this site for debtors who filed on their own and are seeking counsel concerning complications. Most of them will have a hard time finding an attorney to get involved to unwind the mess without the attorney charging several times what would originally have been paid.... Read More

Yes have to rent and eviction cost may be included in a bankruptcy, but you will not be able to stay in the property. Bankruptcy to remove your obligation to pay, but it does not allow you the benefit of what you should paid for. Therefore if you write off past rent in a bankruptcy, you will certainly be evicted. But if you're already evicted and already out of the house or apartment you lived in, just include the past rent and eviction costs in your chapter 7 bankruptcy and it will be discharged. I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options. Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.    Joseph F. Botelho, Esq. BOTELHO LAW GROUP Attorneys At Law http://fallriverbankruptcyattorney.com/ 901 Eastern Ave.  Unit 2 Fall River, MA 02723  Office:  888-269-0688 FAX:    877-475-8147 #bankruptcy  #lawyer  #FallRiver  #Chapter7  #chapter13  #debt  #debtsettlement  #foreclosure  #attorney   #cantpaybills  #lawsuit  #court  #bankruptcycourt  #eviction  #lostmyjob... Read More