Missouri Bankruptcy Legal Questions

Signing a contract with a company in Chapter 11 might not be a problem. You need to be aware that certain types of contracts (professionals such as attorneys, accountants, brokers, etc., must be approved by the court), while other types of contracts (contract employees, etc.) do not need court approval. The one primary distinction with regard to signing contracts with companies in Chapter 11 is that you are on notice that there have been (and may continue to be) financial problems. You might want to ask them for a copy of their last couple of Monthly Operating Reports (which will provide you with snapshots of their current financial situation). If I entered into such a contract, I would want to make sure to limit my exposure by invoicing them promptly, insisting on short payment terms (due on receipt or net 5 days), and being prepared to stop work for non or late payment. This answer was provided as a public service to a question posed on the Law Q & A website. The answer is based on the information provided and is limited to those facts. Additional information could change the context of the question and materially change the answer.... Read More

The bank may be willing to make payment arrangements with you to take care of this debt. Unfortunately, if you don't resolve late charges and the bank closes your account, you may be placed into a form of punishment known as "Chex Systems" which will prevent you from being able to open up a bank account at any other institution until this is resolved.... Read More

The notices that go out to creditors make no distinction between spouses; the notices lists both names. Creditors can see the documents that you submit on-line if they have any questions about the identity of the debtor. The only thing that you want to eliminate from the mailing matrix is duplicate addresses (the same address listed more than once). Different addresses for the same creditor cannot hurt you and gives you a better chance that the creditor will receive notice (which is in your best interest). I list agencies and the creditors that they represent. I would not count on a "miracle" discharge of non-dischargeable taxes. That might happen in a movie, but not real life.... Read More

If you listed the auto lender as a creditor in the Chapter 7 and the debt was discharged and you did not sign a reaffirmation agreement, then you do not owe them any money for the debt. Their only option would have been to pick up the vehicles because of the lien on the title. However, if they have released the lien on the title with the Department of Motor Vehicles, then they cannot do anything to you. You would be the owner of the vehicle with a clear and free title.... Read More

The automatic stay created by a bankruptcy filing will stop the foreclosure for a little while. Your bankruptcy filing will result in your discharge of any obligation to pay the mortgage, but your ex-husband's liability will remain. In my area most large apartment complexes order credit reports for all applicants, and the bankruptcy filing will certainly be viewed as a black mark. I will not say that it will be fatal to your application, but it certainly will not help.... Read More

You can sell your home as long as you can sell it for enough to pay off the remaining balance of your mortgage loans. Even though you did not reaffirm the loans, the liens remain intact against the property and must be satisfied before you can transfer title to someone else. If you cannot sell for enough to pay the loans in full you may want to consider trying to complete a short sale with the cooperation of the lender(s).... Read More

First of all, if you had four court dates in a Chapter 7 case, you've got a lot more going on than can be dealt with in a forum like this. If you are having trouble with your attorney, you should fire your attorney and either hire a new one (best idea) or represent yourself (not a good idea).   That will enable you to obtain the information you seek and take whatever corrective actions may be necessary. Aside from that, you can also check the court file in your case to see what's going on, but I'm not sure exactly what information you're seeking. If your attorney is refusing to communicate with you, you should report her to the state bar that licenses attorneys in your state. 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

Please understand that bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step. Please take time to educate yourself about bankruptcy and to determine which attorney is the best to assist you in the process. Don't assume the attorney is being completely honest about their experience and capabilities. Check them out. Avoid the attorneys who advertise on TV or profess a 100% success rate in their Internet ads. It costs hundreds or thousands of dollars for these ads and someone has to pay for them - the clients. These attorneys mass produce the work and do not offer the client the hands on assistance that is necessary in a well-planned bankruptcy. Normally these firms assign all or most of the work to paralegals and the client rarely talks to an attorney. When interviewing the attorney ask them how long they have practiced bankruptcy law. Ask what percentage of their practice is focused on consumer work. Ask whether they are experienced in both chapter 7 and chapter 13 cases. Ask the attorney for references. Ask about their policy of returning phone calls. They should be committed to answering specific questions about your situation and help you understand your options. If, after talking with them you are still confused about the issues you raised, find another attorney. Check them out with the various ranking sources: such as www.AVVO.com, and the State Bar. An attorney is should be your guide through this process. They should educate you, be there to assist you in how to avoid pitfalls and help you plan for your future after bankruptcy. There are hundreds of "bankruptcy" attorneys in Arizona. Of those just a few will fit the criteria set forth above. Again, bankruptcy is a very complicated process and you want to use an attorney who will be there when you need them.... Read More

Ask your bankruptcy attorney. If you do not have one then it is extremely important you retain an experienced chapter 13 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.... Read More

Unless you have previously done business with the Trustee, it is very difficult to predict what action s/he may take with respect to property not fully covered by an exemption. In Nevada, the wildcard exemption can only be applied to personal property, not real estate. If you are using exemptions from another state, you will want to look at the exact wording of the wildcard exemption. The smaller the amount of nonexempt property is, the more likely it will be that a trustee will abandon the property.... Read More

If you are represented by an attorney, the creditor ought to be contacting the attorney not you. If you are representing yourself, then you have left yourself open to being contacted by this creditor. If you didn't sign and file a "Statement of Intention" with the bankruptcy court indicating what you plan to do with the vehicle, you have left yourself vulnerable as this is a required document.... Read More