Minnesota Bankruptcy Legal Questions

Bankruptcy cannot discharge an otherwise dischargeable tax debt of the debtor for which a return was NOT filed.  Your bankruptcy lawyer should help you on this.  Be warned, his case may cost a little more than usual because of the tax and business issue.  For example, while our normal cost is $1500 (our fees, court filing fee of $306, tuition for two mandatory on-line classes), we'd charge another $350 for a case like yours. The kinds of questions you should be asked are along the lines of the following.  Are those returns your personal obligation?  Was it a S Corp?  Were there any "trust fund" tax liabilities?  You will probably want to bring the returns you did file (to the extent they are at hand) and you will have to bring your most recent personal 1040s.... Read More

As the others have pointed out, you don't necessarily have to repay 100% of your debt in a Chapter 13 case (although even if you did, the monthly payments would be at zero percent interest and far lower than you have outside of bankruptcy). The amount of the monthly payment is determined by several factors, one of which is your budget (which is determined in different ways, including your income received in the six calendar months prior to filing your case).   Another factor is that you must pay your creditors at least as much as they would get in a Chapter 7 case.  Thus, if you have non-exempt assets that would get sold in a Chapter 7 case, you have to pay out at least that much over the life of your Chapter 13 plan. A consultation with an experienced bankruptcy attorney in your area will yield the specific requirements for your situation. Mark J. Markus, Attorney at Law Handling exclusively bankruptcy law cases in California since 1991. http://www.bklaw.com/ bankruptcy blog: http://www.bklaw.com/bankruptcy-blog/ Follow Me on Twitter:  @bklawr... Read More

He could file while living in Sweden if he has property in the United States. It may cost more, but it is up to the attorney. If he successfully files bankruptcy, he can surrender the car and the remaining debt will be discharged. If his average income for the past six calendar months is below the median, he should be eligible for ch 7 bankruptcy. This is not an issue. However, it would really be much better if he files bankruptcy before he moves out of the United States, even if he has to quit his job to qualify. One reason is that he has to attend a hearing, so he would have to go to the expense of returning to the U.S. for the hearing. Also it is hard for a lawyer to work with him when he is not in the country.... Read More

Yes, but the same exemptions available in bankruptcy are available to you under the NC Constitution. So you don't have to file to protect your assets, but you do have to stop defaulting. Not answering is never the right answer. You should have received a motion to claim exemptions from the Sheriff. If not, go to the civil county clerk and ask for the form and fill it out and file it with the Clerk and send a copy to the opposing Atty.... Read More

The length of time a bankruptcy estate remains open is not related to the date the general discharge is granted. The "discharge" date is 60 days after the first date set for the 341 meeting and is not related to the liquidation of assets and payment of creditors.  There is little you can do, Have you irritated the trustee in some way?  WHile the trustees are professionals, they are human.  Is there something that you can do to speed things up?  The claims filing deadlines have long since past. So the amount needed to pay claims in full is known. There shouldn't be any tax issues to delay paying the dividends. Unless there is some issue as to wrongful actions on your part, the third leg of the chapter 7 bankruptcy process (discharge of debt, liquidation of assets, and policing the debtor's behavior prior to and post filing) would not exist.  So, it is difficult to say what the delay may be.  I would limit the discussions and inquiries to having them occur between your lawyer and the trustee.     ... Read More

Yes you can add bills after your initial filing for Chapter 7 Bankruptcy. Payday loans qualify, as long as it was not made right before your filing. Basically if you got a payday loan, then filed bankruptcy right after, the debt would not be discharged most likely, as it would be considered fraudulent. Joseph F. Betel, Esq. BETEL & ASSOCIATES, LLCAttorneys At Lawhttp://massachusettslawyeronline.com/ 126 Shove Street Unit 202 Fall River, MA 02724 Office: 888-269-0688Cell: 508-801-6747FAX: 877-475-8147  ... Read More

If you filed under a "business entity" such as a LLP "Limited Liability Partnership" for example you will not be resonsible for the debts of the LLP, but if you signed any agreements making you personally liable then you will be responsible for those debts. If it's a simple partnership, then you are treated as individuals and you are responsible for the debts of the partnership, as you have no personal liability protection afford legal entities such as; LLC, LLP, S-Corp, ect.....  ... Read More

In most, if not all, states, you have a certain time to respond to a lawsuit with an "Answer" filed with the court (typically 20, 23, or 30 days after service of the Complaint and Summons). If the time elapses, the Plaintiff can motion the court for a "default judgment" in their favor - basically getting a judgment against you without having to prove anything with evidence, testimony, etc.... Read More

The issue will not be the asset but rather the household income.  What cash, if any, does the LLP throw off?Her independent investments are irrelevant to you for most purposes.  The bankruptcy of a partner in an LLP can be an act of dissolution, which is a possible complication, so it would be good if your wife does not join you in your petition.... Read More

A married couple need not file a joint petition.  Often, only one of the two owes most of the debt. As my law partner and I were discussing yesterday, one of the advantages of having practice bankruptcy for so long is that I have learned that it very often makes sense for just one spouse to file, and then see how things work out.  If a second filing is later required, it is generally worth it. The second filing will have to use the same exemption choice, and there are other considerations, but those are issues you can foresee and take into consideration with the original filing.  One of the issues that should be sorted out in any couple's first meeting with a potential bankruptcy lawyer is whether a joint filing makes sense, or if it should be an individual filing.  The decisions of whether to file, when to file, what to do before filing, etc. should also be covered.  And, finally, just because that meeting is free (if it isn't, I'd run, not walk, to a different firm), you should not feel that the lawyer you meet with in that meeting has to be the one you use.  You need to fell comfortable with your bankruptcy lawyer. And feel that you can trust the lawyer with protecting your best interests.  While our firm is on the low end of cost, I also think that you should not make this decision solely on cost.... Read More

The 7 will delay it, briefly, the 13 can stop it, if you do everything right.  The sooner you get to a lawyer, the better. Timing is critical in this area.  Lawyers are able to assist you, but the facts are beyond our control. We have the tools to use the law to your advantage, but we can't help you save the house if you wait too long to see us.  In Minnesota the sale date is crucial.  On the other hand, the redemption period is long enough that some people choose to take advantage of allowing the foreclosure and staying in the house.  You need to focus on your total situation, and a trained third party should able to help.... Read More

You should be able to refile.  The limit of one discharge every eight years is your real concern.  You should go to a firm (shameless plug to follow!) like ours, where you can have an hour or as long as it takes to figure out your options without any obligation.  If you filed for relief and have been struggling with creditors since your case was dismissed in 2009, you have really been carrying a burden.  Go see a lawyer.  People shouldn't have to live under that much stress. ... Read More

The deed in lieu is an attempt to have you give up your redemption rights.  I am not sure what value you are to get from signing over your house.  Perhaps the deed in lieu provides payment to you, or something else.  Or perhaps the offer is to keep a foreclosure off your credit record.  But if you have problems with your mortgage payments, there are possibly other credit issues.  You could use a chapter 13 to cure the arrearage over time.  There are pluses and minuses to a 13.  You could use a chapter 7 to free up money to correct the problem, but that is probably too late.  There are some options in the foreclosure process itself.  My law partner has a lot of experience in foreclosure defense.  I've been practicing bankruptcy for 34 years,   My thought is you should make an appointment with a lawyer to discuss this more fully, and review your situation.  We don't charge for that consultation, and many other bankruptcy lawyers don't either.... Read More

If I understand this, you are still under a chapter 13 plan, you are borrowing money to pay off your car loan and another loan that you had taken against your 401k.  The net is that you will have paid off the car loan and only have one 401k loan.  There is a change in your circumstances, as you will no longer have a car loan, and I suspect the car loan was part of your budget.  The Supreme Court, in a different context, held that you can't use a hypothetical car loan as an expense. Ransom v. FIA Card Services.  Whether this is a problem depends on knowing more about your plan, etc.  This may be a problem, but your lawyer should be able to tell you if it really is an issue.  The reality is, there is more available for plan payments.  If you are in a three year plan that may not be a big problem, but if you are in a five year plan, it could be.  ... Read More

In Minnesota it is possible to keep several cars, depending upon your circumstances.  I know at my law firm we answer those types of questions in our firm's free initial meeting and I suspect most other firms do so as well.  The free meeting doesn't obligate you to hire that firm or to file for bankruptcy.  It is a time to have your questions answered and have the process explained.  If you think bankruptcy can help you, go to an experienced lawyer who will be able to answer those questions and who will not make you feel a commitment to hiring that firm.   ... Read More

The bankruptcy of your ex-husband will not relieve him of any obligation in the divorce to make any payments, but the creditor was not a party to your divorce, and has the right to go after you.  The chapter 13, however, will result in a stay of the creditor's actions that applies to both you and the debtor, as this is a consumer debt.   The creditor can get relief from stay, but would have to go to court.  You should check his plan and see what ir provides. ... Read More

You do not file "against" anything.  You file for bankruptcy, disclosing all of your assets and liabilities.  You are then discharged from having to pay most of your liabilities.  If someone else is on the debt or if there is collateral, the creditor can not go after you, but can go after the other person who did not file for bankruptcy or sell the collateral.  You can get out from the amount you owe on the trailer if you plan on leaving it behind.... Read More

You can file as often as you like (subject to some restrictions on the length of the automatic stay, and the possibility that at some point it is just considered abusive.). You can only obtain a discharge every eight years, however.  The cost has gone up since you last filed due to an increase in the obligations imposed on your lawyer.  The chapter 7 filing fee paid to the court is $299, but the cost of the lawyers, counseling fees (minor), etc. should add another $1200 to as much as $2000 or more, depending upon the lawyer and the specific issues, if any, posed by your case.  ... Read More