Minnesota Bankruptcy Legal Questions

Do not bother calling your credit card companies unless you have substantial funds to make a settlement offer to them. They will not enter into any type of payment plan with you, as you could make the normal monthly payments when the credit card was in good standing there knocking expect to be able to do it now that you're in default. Considering your total unsecured debt being approximately $50,000, chapter 7 bankruptcy would be the best option for you. 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 Answer

Depending on if your mortgage is up to date will determine if you will file either chapter 7 bankruptcy or chapter 13 bankruptcy. If the mortgage is up to date, I would file chapter 7 bankruptcy to remove your unsecured debt and then file a motion to remove the lien and strip your second mortgage. This will allow you to get rid of your unsecured debt and remove the second mortgage from your house which should make things more affordable. You've stated that after paying all your bills every month, there is nothing left, this would indicate to me that you would not be able to 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://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 Answer

Yes you can, but there are a number of restrictions and requirements. I have written an article that outlines the entire process please follow the link here: http://ezinearticles.com/?Can-I-File-Chapter-7-Bankruptcy-on-Income-Taxes?&id=8715191   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 Answer

No, the bankruptcy automatic stay only protects the person who is filing bankruptcy, not anybody else who may be affected such as a cold borrower. You may get an attorney and file motions in bankruptcy court to attempt to have this situation remedied, this is really not something you to be able to do without attorney unless you are as knowledgeable as an attorney and I feel it would be a great disservice to attempt to explain how this is done. With that being said, you may always file your own chapter 13 bankruptcy and use that to pay back the arrears on the mortgage. The problem here is the bank would not of giving you the money to purchase a home if the cold borrower who is filing bankruptcy now was not on the note, so their justification would be since they no longer have the security of that cold borrower, they no longer want to continue holding the note under your name. Depending on your state's laws, in most states someone cannot be prosecuted simply because they or someone else is filing for bankruptcy, there may be something in your state laws that would protect you. But if you simply hired a bankruptcy attorney can file a motion on this matter, the situation should be able to resolved in bankruptcy court. 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 Answer

Yes.  If you get married prior to filing, your spouse's income will factor into the analysis for determining projected disposable income and, therefore, the applicable plan committment period (how long your repayment plan must be) in the Chapter 13 case. Depending on the property laws of your state, it can also affect the amount of your monthly payment.  In most community property states, the income of your spouse must be included in the budget analysis which, in part, determines your monthly payment 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 Answer

Consider hiring a new attorney. Please understand that chapter 13 bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step. Don't assume the attorney is being completely honest about their experience and capabilities. Check them out.... Read Answer

The bankruptcy discharge did not wipe out the debt or the accruing interest; it just relieved you of personal liability for it. If a foreclosure has not occurred yet, and the property is still in your name, you may be able to sell it (assuming there is some equity there), but you may have problems talking to the bank yourself, because of the bankruptcy discharge. Usually, a title company can get the payoff information from the bank.... Read Answer

The lender will need to perform the calculations to determine the balance on your mortgage. Even though you do not personally owe anything to the mortgage company, the property does owe this money & the lender is still entitled to charge the property with payment of interest, late fees and penalties.... Read Answer

If your business was incorporated or a limited liability corporation so that it constitutes a separate legal entity, then it is possible for the creditor to continue to collect against the business corporation or LLC. The discharge only protects you and not the corporation. If you were doing business as a sole proprietor and this debt was discharged in your bankruptcy, then you are the business and the creditor cannot collect from you.... Read Answer

You should consult a North Carolina lawyer about state taxes. As to the federal ones, if they are entitled to a setoff, they can probably try to take it any time. Whether or not they are entitled depends upon whether the federal income taxes were discharged, which is actually a fairly complicated question. Consult your bankruptcy lawyer. If he or she does not know, find someone who knows.... Read Answer

Once the bankruptcy is filed, you have an obligation to be current on all tax filings. You will get an objection to confirmation from the IRS and/or the State, based on your non-filing. You have to file the returns for all years that you have not in order to resolve the objection. You don't get to keep all of your tax refunds in a chapter 13 case anyway, at least not in Utah.... Read Answer