Indiana Bankruptcy Legal Questions

Chapter 13  should eliminate all income tax debt because you will be required to pay any priority taxes 100% in the Chapter 13 and any nonpriority taxes would be discharged (assuming you complete all the required plan payments). Priority taxes are essentially those which are owed for years in which the tax returns were last due to be filed more then 3 years prior to filing the bankruptcy case or assessed within 240-days prior to the case being filed, or that are still assessable after the case is filed.  There are certain events which extend these time periods, such as having an open offer in compromise.  ... Read More

This is a complex question and depends on total assets, liabilities, business structure, ownership and financial position.  I would suggest retaining counsel for a smaller retainer ($300-750) than filing bankruptcy, to properly assess your situation and advise you on where to go from here.  I have handled dozens of business debt workout situations and would be happy to help if you choose to retain my firm. Thank you, Andrew Thompson THOMPSON LAW OFFICE 317-564-4976  ... Read More

No, if a debt has been discharged in bankruptcy you will not have to pay that debt even if you get credit from the same creditor. Basically if you have a credit card with a company in discharge of that in bankruptcy and after you receive your discharge get another credit card with the same company, you will not have to pay them for the debt that was discharged in your bankruptcy. 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://massachusettslawyeronline.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, #student, #loans, #education, #IRS, #taxes... Read More

The best place to start would be to find an experienced bankruptcy attorney to handle the filing of a chapter 7 bankruptcy petition for you. Your bankruptcy attorney will be able to walk you through the entire process and help you obtain a chapter 7 bankruptcy discharge of your debts. Once you file for chapter 7 bankruptcy, the phone calls will stop due to the automatic stay of the bankruptcy. 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://www.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, #student, #loans, #education, #IRS, #taxes... Read More

Once you file to have your filing fee paid in installments or file a motion to have your filing fee waived due to indigency in either one is accepted by the bankruptcy court, at that time you will be assigned a case number and the automatic stay will stop any wage garnishment. This is not an automatic process and receiving a case number will only occur once the bankruptcy court accepts the fee paid in installments or waive the fee altogether based on indigency. 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, #student, #loans, #education, #IRS, #taxes... Read More

If you received a discharge in chapter 7 bankruptcy you must wait eight years to file from the date you received a discharge and four years after receiving a chapter 7 bankruptcy you can file for chapter 13 bankruptcy. 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, #student, #loans, #education, #IRS, #taxes... Read More

Yes, you can choose which debts to be discharged in your chapter 7 bankruptcy. This being said usually the bankruptcy trustee will force you to file against all unsecured debt, such as credit cards and medical bills. But you may choose to either surrender your home, reaffirm the debt or other on your home when filing for chapter 7 bankruptcy. This has the effect of allowing you to choose how to handle your home. If you're filing chapter 7 bankruptcy and you are behind on payments, you will not be able to catch up and will be forced to surrender. If you wish to keep your home and your behind on payments the right chapter of bankruptcy would be chapter 13 bankruptcy which will allow you to catch up on payments. But if you simply choose to discharge the debt, but keep paying your mortgage this would have the benefit of you keeping your home and in the future if you lose your job or income and can no longer afford your mortgage you could simply move out and you will not have the obligation to pay on your home. The bank cannot foreclose on your home if you continue to make the monthly payments and never fall behind. 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

Wow.  You are really getting some inaccurate information somewhere. First of all, you cannot reaffirm a debt after your discharge has been granted.  You don't state which chapter you filed or whether or not you received a discharge, but I'm assuming you did receive one. Second, there's absolutely no reason to reaffirm a mortgage debt.  Ever.  Your lawyer was correct. Third, where did you "learn" that Wells Fargo can take your house because you didn't reaffirm the debt?  Unless there are some laws specific to your state allowing this, that's nonsense.  If you fail to make your required mortgage payments, then they can seek to foreclose pursuant to the terms of your Note and Deed of Trust.   But there is simply no requirement that you reaffirm a real estate obligation. Yes, it's true that the ongoing payments you're making do not get reported to credit bureaus.  That's a small price to pay for eliminating your debts and, quite frankly, it's easily remedied by refinancing the loan. 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.   Always seek an experienced bankruptcy attorney when filing.... Read More

The answer to your question is both yes and no. If you are up to date on all payments of your mortgage, then yes you can file for chapter 7 bankruptcy and discharge your unsecured debt and keep your home. If your mortgage is behind on payments and you file for chapter 7 bankruptcy, you will not be able to keep your home. Chapter 7 bankruptcy is meant for discharging debt that you can no longer pay, there is no mechanism for catching up on unsecured or secured debts. Chapter 13 bankruptcy is the preferred form of bankruptcy to use if you would like to save your home. In chapter 13 bankruptcy you can stop a foreclosure, force the bank to work with your mortgage modification in good faith and give you 3 to 5 years to pay back any past-due mortgage payments. 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

Yes, they can come after you for the loan. Divorce court has no bearing on bankruptcy court or mortgages. If something is not paid off, simply because the divorce decree states that the other person obtain the property, this in no way affects the mortgage or loan on a home or the vehicle. The answer to this is the same as if there was a mortgage on a house that your name was on, that was given to your spouse in a divorce. If your name is on all loan or mortgage and the other person who's on their file for bankruptcy and received a discharge, the bank will go after you for the money regardless of any court judgments. 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... Read More

If you filed in 2005 a chapter 7 bankruptcy and received a discharge, you may file another chapter 7 bankruptcy petition within 8 years of receiving your chapter 7 bankruptcy discharge. If you filed a chapter 13 bankruptcy and received a discharge, you have to wait 4 years after you received a discharge to file a chapter 7 bankruptcy. If you wish to file a chapter 13 bankruptcy after a chapter 7 bankruptcy, you only have to wait for years and if you do it after a previous chapter 13 bankruptcy, you only have to wait two years after you receive a discharge. Depending on your income and if you have any assets that you wish to protect, that you feel would be liquidated in a chapter 7 bankruptcy, would dictate if you chose chapter 7 bankruptcy or chapter 13 bankruptcy. Always use the services of an experienced bankruptcy attorney who is experienced in both chapter 7 bankruptcy and chapter 13 bankruptcy. 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... Read More

There is nowhere near enough information on your case to advise you on what you should or should not do.  If you don't already have an attorney (and there's virtually no way you can be successful in a Chapter 13 without one), you need to have a consultation with a bankruptcy attorney in your area who can advise you on your options.... Read More

Was the lien recorded before or after your bankruptcy case was filed? The short answer to your question is that the lien is there because the creditor recorded it.   The confusion you are having, I believe, surrounds whether a bankruptcy discharge affects liens against property.   It does not. As my article on liens and discharges in bankruptcy points out, liens survive bankruptcy discharge unless you file a Motion to have them removed as part of your bankruptcy case. A Motion to Avoid the Lien can be sucessful if you meet the requirements set forth in 11 U.S.C. 522(f), which is essentially if the lien impairs an exemption to which you were entitled--under applicable state or federal law--on the date your bankruptcy case was filed.  This is purely a numerical analysis which takes into account the value of the property on the date your case was filed, the amount of all liens against the property, and the amount of your available exemption that you hopefully took on the property in your bankruptcy papers. You can reopen your bankruptcy case to remove the lien if you meet the requirements. You should consult with a bankruptcy attorney in your area for more details. If the the judgment lien was recorded after your bankruptcy case was filed, then it is not able to be removed via bankruptcy under any circumstance. Mark Markus... Read More

I appreciate that you would like an iron clad guarantee from the volunteer lawyers on this site, but the best we can do is look at potential problems and point out the risks. We do not have all the facts and what a judge might do in this situation is not certain. Planning before a person jumps off a cliff and files a bankruptcy is the best choice for your sister. Consult an experienced bankruptcy attorney and be prepared to pay for advice because it will be worth it.... Read More

Without knowing who the judge and trustee ares for her chapter 13, I can't give you an answer to whether her plan will be approved. However, with her schedules showing that her income is $1300 less than her expenses, an objection could arise that the plan is not feasible. How much of the $20,000 was claimed exempt on Schedule C? If the full $20,000 is exempt, then none would be required to be paid to creditors. However, funds from that savings may be needed to make the plan payment feasible. If any part of it is not exempt, the plan would have to provide for payments equal to that part.... Read More

Yes, unfortunately.  Because student loan debts are not dischargeable, if you do not stay current with the payments, whether you're in a bankruptcy case or not, the student loan creditor can charge late fees and declare a default of the loan, unless you seek and obtain an undue hardship discharge from the bankruptcy court (in which case the student loan company can still charge late fees, etc., but the debt would be discharged). 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

Sounds like you hired an inexperienced bankruptcy attorney.  Did you research your attorney before hiring them?  You are now finding out why that is important. However, you are free to fire your present attorney and hire a new one any time you wish.  You can also seek to have fees disgorged by filing a motion with the bankruptcy court or filing a complaint with the US Trustee's Office.  While I don't see anything in your facts which seems to warrant any of this, there's no way to know without fully reviewing everything filed in your case and finding out exactly what is going on and why. I suggest having a consult with another bankruptcy attorney in your area for more details. 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

Social security is not included in the 6-month income analysis which determines disposable income for purposes of determining the applicable commitment period in a Chapter 13 case (3 years or 5 years). It arguably should not be included either in the determination of "current" monthly income which determines the amount of the monthly payment in a Chapter 13, but that's going to depend primarily on the courts in your jurisdiction as well as the Trustee in your case. You should consult with an experienced bankruptcy attorney in your area for more details. 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

What you can keep in a bankruptcy case depends on a number of different things. First, it depends on which bankruptcy chapter you file.  Chapter 7 is the only chapter where your assets might be at risk.  In Chapter 13 and Chapter 11 you get to keep your assets so long as you pay out their non-exempt value to your creditors over time. Second, it depends obviously on the value of the assets, which you have not disclosed. Third, it depends on what exemptions are available under applicable law to protect those assets. Exemptions are "protections" for value you have in certain assets such that they are "exempt" from collections.  Every state has different exemptions amounts available. Exemption laws are based on the state where you resided for the 2 years prior to filing your bankruptcy case or, if you lived in more than 1 state during that period, in the state where you resided for the greater part of the 180 days prior to that 2 year period.  Retirement funds are always protected (with some rare exceptions). The only way to find out what is at risk in your case is to have a consultation with an experienced bankruptcy lawyer in your area. 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