Missouri Bankruptcy Legal Questions

It depends on when the transfer is done and why.  If it is done within 2 years prior to filing a bankruptcy case and the debtor (party filing the bankruptcy case) did not receive "reasonably equivalent value" for the transfer, then it is by definition a fraudulent transfer recoverable by a Trustee in bankruptcy (at least in a Chapter 7 bankruptcy case).  State fraudulent transfer laws would also apply, so there may a longer lookback period (more than 2 years) under applicable state law. If the transfer was done as repayment of a debt (meaning you owed $50,000 to your father, and transferred your house to him and it had $50,000 of equity in it at the time, then that would be considered a preferential transfer and that is also recoverable by the Trustee in bankruptcy if it occurs within one year prior to filing your bankruptcy case. 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

Up until December 2013. 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

The current law (which is NOT bankruptcy law) allows credit reporting agencies to report a bankruptcy for up to 10 years from the date the case was filed. When the law changed isn't particularly relevant since this is what applies to any case filed prior to (and subsequent to) today. 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

In a bankruptcy case, there is an option for a married couple to file jointly, or one spouse file individually.  You should discuss whether or not to jointly file with a local bankruptcy attorney.  There are certain advantages, such as double exemptions, in a jointly filing. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

There are too many different variables to answer whether you should file for bankruptcy protection.   You should consult a local bankruptcy attorney.  Most bankruptcy attorneys offer a free initial consultations to determine if you qualify for bankruptcy, and to determine if bankruptcy is appropriate. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

Typically, medical bills are dischargeable in bankruptcy.  Please see: http://www.lsmo.org/ This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

Texas has very generous laws with regard to exemptions.  But, you will be using the MO exemptions because you are new to Texas.  File where you will be living, to make it easy to help the lawyer, go to the creditors meeting and attend to other details.  Tough to do when out of state.  If I can help, let me know.  I'm in Houston.... Read More

You have a right to represent yourself in bankruptcy.  However, bankruptcy is a very complex area of law with many rules and nuances.  Most bankruptcy attorneys offer free initial consultations, so it may be wise to meet with an attorney to determine if you even qualify for bankruptcy, and if so, if it is an appropriate process to undertake in your situation. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

Yes, you can file a chapter 13 bankruptcy and stop the sale date of your house.  You can pay your mortgage payments and the arrearage you owe through your chapter 13 plan to get you back on track.  You may also be able to file for a mortgage modification through your chapter 13 if your district allows this and if your loan has not already been modified.  This is a great tool to help you force the lender to deal with your modification paperwork.  They may be able to reduce your payments to 31% of your income and roll over your back payments into the modification to get you back on track.  A chapter 13 bankruptcy is a very detailed bankruptcy and I suggest that you speak to an attorney about your rights and possible representation before you file.  I hope you found this answer useful.  ... Read More

Child support is not dischargeable in any chapter of bankruptcy. Mark J. Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of California Board of Legal SpecializationHandling 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

You need to have a bankruptcy attorney in your area examine your case closely, but here are my initial suggestions: If you already filed your claim, and the debtor objected to it, and the court sustained the objection (and presumably you properly informed the court that the reason for the late filed claim was lack of notice), then you are out of luck as far as receiving funds from the Chapter 13.  The key here is whether the court made a finding that you DID get adequate notice of the case.  If that's true, you're out of options.  If it's not, then you may be able to treat the debt as not being discharged and after the Chapter 13 case is completed, commence collection actions against the debtor. Mark J. Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of California Board of Legal SpecializationHandling 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

Sorry, but I really don't understand your question.  A bankruptcy can be reported on your credit report for up to 10 years from the date of filing.  It is not a foreclosure.  How a given lender treats a prior bankruptcy filing, or how it translates into your numeric FICO score is another matter altogether and is not a bankruptcy issue. Mark J. Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of California Board of Legal SpecializationHandling 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

Yes, it is very common for just one spouse to file for Chapter 7 bankruptcy relief when the debt is their responsibility alone.  It just may be harder to qualify because the court will consider all household income, other than social security, for the trailing 6 months.  Your combined household income will then be compared to the median income figures in your state for your family size.  If your gross earnings are below the median income figure, and you have not already filed for Chapter 7 bankruptcy relief in the past 8 years, you may qualify for a Chapter 7 bankruptcy filing.... Read More

I don't think "removing" her from the mortgage is either the issue or the solution.  The key is how title to the property is held.  You say you "received" the house.  What exactly does that mean?  Was title transferred to you?  If so, when was the transfer recorded?  If it was within the statute of limitations periods for bringing a fraudulent transfer action under the laws of your state (usually four years from the date of transfer, but every state is different), then there could be a basis to undo the transfer.   I doubt, however, that is what the title company is concerned about.  This is an issue that is really more complicated than can be dealt with in an online forum.  You need to have a consultation with a bankruptcy attorney, and probably a real estate attorney in your area to unravel this.  There's not enough information to fully respond to your question.   Mark J. Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of California Board of Legal SpecializationHandling 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

If they were discharged in your chapter 7 bankruptcy case, then you will not owe anything further on them no matter what you do.  However, until the property is actually sold (either through foreclosure, short sale, or otherwise), you are liable for any violations of city ordinances or liability if someone gets injured on the property, so you need to be sure to maintain adequate insurance until the property is sold, and make sure the property is "kept up" in accordance with regulations until it is sold.   If there is a Homeowners' Association involved, that's another issue that must be dealt with since you will be liable for HOA fees up until you no longer occupy the premises at least (you need to make sure the HOA has the keys and knows you're no longer living there).   Mark J. Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of California Board of Legal SpecializationHandling 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

You need to hire a bankruptcy attorney for this.  You should file a proof of claim for the prepetition arrearages owed to you.  If they have not paid rent since the case was filed, you should also file a request for payment of administrative expense for the post-filing amounts and file a Motion for Relief From the Automatic Stay for permission to commence unlawful detainer proceedings to evict the tenant. Mark J. Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of California Board of Legal SpecializationHandling 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

Generally speaking, you are not liable for the debts of your deceased parents. Unless you refinanced the house and put the loan in your name, the lien against the home is the bank's only way of getting paid. The person who inherits has no personal liability. I suggest meeting with an attorney to get specific legal advice for your situation.... Read More

Unless you cosigned for the debt or are also a party to the debt contract you cannot be held liable for your fiance's debts prior to marriage.  This may change once you are married, however.  You should speak with a local bankruptcy attorney to determine any liability you may incur from your fiance's debts, as there are many issues that may have arisen which may complicate your personal situation, and waiting until you are married may increase your potential exemptions allotment.  Most bankruptcy attorneys offer free initial consultations, so it would be wise to confer with a local attorney to protect your interests. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

It depends on what type of account the Fidelity account is.  For example, an IRA is protected; however, a money market account is not.  I would need more information on what type of account she has open at Fidelity before I could give you an answer on whether it is 100% safe or not.  I hope you found this answer useful.  ... Read More

It depends in part on which bankruptcy chapter you filed and whether Missouri is a community property state or not.  If you filed a Chapter 7 case, it shouldn't affect your case at all.  However, if you filed a Chapter 13 or Chapter 11 case, the gift might be considered property of your bankruptcy estate and need to be turned over to your Trustee, but probably not.   You really need to discuss this with a bankruptcy attorney in your area. Mark J. Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of CaliforniaHandling 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

There's a lot of missing information here, so it's hard to understand whether the trustee is demanding something to which he/she is not entitled, or if there's something you need to do. If you actually received a tax refund the day before your bankruptcy case was filed, and you deposited it into your bank account (presumably) or cashed it before your case was filed, then it was no longer a tax refund, but either cash or money in your bank accounts that you were required to list in Schedule "B" of your petition. If you had not deposited the refund check yet, then that refund amount should have been listed in Schedule "B". In either of the above cases, if you did not exempt the relevant amount in Schedule "C", then it belongs to the Trustee and must be turned over.  Failure to do so is grounds for denial of your discharge.   Thus, you may be able to amend schedules "B" and "C" now to correct them, but whether or not you have exemptions available to cover the amount in question depends on which state's exemption laws apply in your case, how much you've exempted on your other assets, etc. etc. etc.  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. Last, if you actually received and somehow spent your refund all in the same day, before you filed your bankruptcy case, then the Trustee is entitled to a breakdown of what you spent it on, but as long as it was for necessary living items, then it shouldn't be an issue. Sounds to me like you need a bankruptcy attorney.  I would suggest scheduling a consultation with one in your area ASAP. Mark J. Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of CaliforniaHandling 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

I will attempt to answer both your questions.   1: as you stated that you had not filed a claim at the time you file your petition therefore there was no claim and you could not have filed it at the time you file your petition. Although if you're bankruptcy still open it would be proper for you to amend your petition to include it.   2: if the house still has a mortgage which requires homeowners insurance, which is most likely what will be paying this claim; the money should be going to the roof to repair the collateral that is the subject of the debt due to the mortgage company and technically the money from the claim is not yours and must be used to fix your house which is the collateral or your secured interest for the mortgage. If you do not have a mortgage on your house and the check from the insurance company will be made out to your name, the bankruptcy trustee may want that money. I have responded to your inquiry according to the laws of Massachusetts, where I practice. 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 & ASSOCIATES, LLCAttorneys At Law www.massachusettslawyeronline.com 126 Shove Street Unit 202 Fall River, MA 02724 Office: 888-269-0688Cell: 508-801-6747FAX: 877-475-8147 Twitter Facebook Manta  ... Read More

Your interest in the LLC IS an asset of your chapter 7 bankruptcy estate and that interest must be valued.  The value of your interest in the business (LLC) is what someone would be willing to pay to purchase your shares of stock.  That is probably close to equal to the value of what someone is willing to pay to purchase the business itself, but not necessarily.   You should have a business appraisal done to determine the value of the business, and then discount as appropriate to determine the value of your shares (or membership) in the LLC.   Accounts receivables ARE an asset of the LLC and, thus, affect its value accordingly. Mark J. Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of CaliforniaHandling 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

Insufficient information to answer your question.  Who is "the lender"?  Is this a creditor of yours individually, or of the LLC?  Was this debt in existence prior to you filing your Chapter 7 case? If the debt was discharged in your bankruptcy case and you received a discharge, then the creditor cannot sue you personally.   If your LLC owes money or otherwise has liability to the creditor, then they obviously can sue the LLC. I cannot really answer further with the facts as given. Mark J. Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of CaliforniaHandling 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