South Carolina Bankruptcy Legal Questions

Bankruptcy is definitely an option you should consider.  I recommend having a consultation with a bankruptcy attorney in your area. 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

Bankruptcy is a very complicated process. The simple question of the difference between chapter 7 and chapter 13 is huge. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step. Most Arizona bankruptcy attorneys offer a free consultation about the basics of bankruptcy. I am attaching a link to some free videos that explain how bankruptcy works. http://www.dianedrain.com/Bankruptcy/BankruptcyQuestionnaires/BKQuestionnaireInd.htm. There is no cost for the initial discussion. 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. My best to you.... Read More

The differences between Chapter 7 and Chapter 13 are vast and to understand them you really have to do your homework or seek advice from a bankruptcy attorney. Typically, any portion of the tax refund for the year in which you file that is deemed "non-exempt" has to be turned over to the bankruptcy Trustee for the benefit of creditors of the bankruptcy estate. .... Read More

If your are concerned with losing your home, you should immediately consult a local bankruptcy attorney.  Most bankruptcy attorneys offer free initial consultations.  Each bankruptcy attorney is different in both efficiency and price so you may want to consult several. 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

Are you behind 6 months of pre-bankruptcy payments, or post-bankruptcy?  Huge difference.  The pre-bankruptcy payments are supposed to be cured through your Chapter 13 plan.  If you are behind on the post-filing  payments, that's a bigger problem.  You need to catch up on those payments somehow.  This might necessitate temporarily, or permanently lowering your existing plan payments, so you'd need to file a Motion to Modify your plan.  Or, you may need to dismiss your case and start over, but all the above choices come with risks and other issues, so it's critical that you have your attorney guide you in making your decision.  If you don't have an attorney, you need to get one yesterday.   Statistically, less than 1% of Chapter 13 cases filed without an attorney survive to discharge. 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

Sure, if you have the funds available, but it depends in part on which chapter you filed--which you haven't disclosed. If you are in a Chapter 13, you would need to modify your plan so that you are able to catch up on the post petition amounts due on the mortgage (if that is even possible).  In Chapter 7 you would need to find a way to cure the default outside of the bankruptcy from non-exempt funds. 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

It's probably better to keep paying on the vehicle after you file your bankruptcy case, but you need to make this decision after a comprehensive consultation with a bankruptcy attorney since there are many different factors that could affect it.  For example, paying it off prior to filing removes any issues with having to reaffirm the debt to the vehicle's creditor, but may create more equity than you can protect with applicable exemptions.  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. That's just one example that could arise.  As I said, you need to consult with a bankruptcy attorney in your area for more specifics. 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

Income taxes are dischargeable in bankruptcy if all of the following criteria are met: (1) it has been more than 3 years since the returns were last DUE (including extensions) to be filed, (2) the returns were timely filed or it has been at least 2 years since the returns were filed, (3) there was no fraud involved or attempts to evade the tax, AND, (4) the taxes were not assessed within the last 240 days. Some of the above time periods can be extended upon the occurrence of various events, so consulting with a knowledgeable bankruptcy attorney is necessary. 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

That is probably not going to be considered a luxury item.  Be sure to list the lumber (if still unused) as part of your assets when you file your case. 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

Whether you can keep your home depends on a number of different factors, including which bankruptcy chapter you file, the value of your home, the amount of equity in it, the value of your other assets, what exemptions are available, and more. There are two main issues with keeping your home in any bankruptcy case. The first is obvious. You must be current with and stay current with your mortgage payments and any other obligations secured against your property (in a Chapter 13 you can catch up on the past due amounts over time) The second has to do with the value of your property, amount of equity in it, and what exemptions you have available under applicable law to protect that equity. 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. You need to have a consultation with a bankruptcy attorney in your area for more specifics on 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

Bankruptcy is certainly an option to consider.  I recommend having a consultation with a bankruptcy attorney in your area.  Most offer free initial consultations.  Gather information about your alternatives and then make an intelligent choice. 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

You are in a murky area.  Your claim against the fiance should have been scheduled.  Only listed assets that are not administered are abandoned by the trustee upon closing the estate.  So, the claims against the fiance are possibly assets of your long closed estate.  Have your lawyer determine if it is worth it to re-open the estate, settle with the trustee, and then pursue the claim. ... Read More

I don't completely understand your facts.  If you had a claim to ownership of an asset on the date you filed your bankruptcy case, then you were required to list that asset and value it and, if available, exempt it.  If you intentionally failed to do so, not only can you be required to turn over the assets, but there can be criminal prosecution brought against you (very unlikely in this case, but I'm just pointing that out). I suggest consulting with a bankruptcy attorney in your area to go over all the specifics of this situation since there are a lot of missing facts. 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

If you transfer property with the intent to keep it out of the hands of creditors, or transfer for less than reasonably  equivalent value, the trustee, or if you don't file for bankruptcy, a creditor can sue you and your son for a fraudulent conveyance. This can result in a judgment against your son for the value of the motel. Later the motel can be sold at a sheriff sale. And the son will remain responsible for the deficiency.  Plus, you risk having your discharge denied based on the transfer and a possible criminal prosecution with significant prison time.  And these cases are prosecuted.... Read More

If at the time to file chapter 7 bankruptcy, you had an interest in the property in question, regardless if your name was on the deeds, you do in fact committed fraud. in chapter 7 bankruptcy, the bankruptcy court does not concern itself with if your name is on the deed, only if you have an interest in the property. If you are legally married at the time of the filing of your bankruptcy, and your state views that you have an interest in all of your spouses property, then that is in fact bankruptcy fraud. depending on the laws of your state, you may have had an equitable interest in your home, simply by being married. You should contact a chapter 7 bankruptcy attorney for the bankruptcy attorney that files your bankruptcy petition to get the correct answer. In the state of Massachusetts what you did would be considered fraud, you should contact an attorney in South Carolina to determine debts. 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  ... Read More

Your first concern is to determine which debts you are personally liable for.  It is common that the owners of a corporation will guaranty some of  the corporation's obligations.  Most photocopier leases, for example, have a provision biding the person signing as well as the corporation.  Check your lease and the bank line.  If you are not personally liable, then you may end up not filing a bankruptcy case at all.  Unless you file a chapter 11 reorganization case, there is little benefit in filing a bankruptcy case for a corporation where you have no personal liability.  The other form of bankruptcy that would be available for the corporation is a chapter 7 liquidation case.  The assets of the corporation get administered by the trustee, but the corporation never receives a discharge.  Plus, if you have determined you have no personal exposure there may not be much point in the filing.  One exception is that occasionally it is the best way to get creditors from badgering the owners of the corporation..A corporate chapter 7 is like a public burial.    ... Read More

A Chapter 7 Bankruptcy will not force the auto dealer to return the car to you, it will simply stop the process of switching over the name to the auto dealer if that has not been done at this point. In chapter 13 bankruptcy you may regain possession of the car, as the debt will be repaid. And every possession of an automobile, no notice is required, as most people would simply hide the car if they knew when the car was getting repossessed. A chapter 7 bankruptcy, the only way to keep something that has a secure interest in it such as an auto loan or a home mortgage, is to make all payments current. In a chapter 13 bankruptcy, a repayment plan to repay the debt would be needed to keep the automobile. 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  ... Read More

In chapter 7 bankruptcy or chapter 13 bankruptcy, income is based on current income. Although it depends on if it's a single member LLC or a multiple member LLC how it will affect your bankruptcy filing. Is only money that would affect you personally is the subject in a chapter 7 bankruptcy or a chapter 13 bankruptcy. 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  ... Read More

If you where a single person when you filed and now you will be a family of 3, that is the change that you may need to pass the MEANS TEST of a Chapter 7 Bankruptcy. You can change from Chapter 13 Bankruptcy to a Chapter 7 Bankruptcy for several reasons; change in family size effects your income for MEANS TEST standards. It would help if I knew why you went with a Chapter 13 instead of a Chapter 7 initially and if you included your wife's income in your initial Bankruptcy Petition. 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  ... Read More

If you filed for Chapter 7 Bankruptcy or Chapter 13 Bankruptcy, the automatic stay should have prevented any further actions of Foreclosure. If you did not file Bankruptcy then this is just a foreclosure and eviction. Eviction laws can be different from state to state, you should contact an attorney in your state ASAP. Generally in an eviction the Sheriff will have a company remove your belongings and store them for a certain amount of time, you must pay fees associated with the removal to obtain your property. If you are in a Chapter 7 Bankruptcy and Trustee allowed lender to move forward with foreclosure and you have 150 thousand in trucks and tools, that may just be what the Trustee is liquidating from your estate. Your Bankruptcy Lawyer should have that information for you if you are in Bankruptcy. 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 Lawwww.massachusettslawyeronline.com 126 Shove Street Unit 202 Fall River, MA 02724 Office: 888-269-0688Cell: 508-801-6747FAX: 877-475-8147 Twitter Facebook  ... Read More

It sounds as if you filed Chapter 13 Bankruptcy and have been making regular payments. You are correct about how your credit report should reflect this debt. The problem is with dealing with creditors, they are not on your side and will usually not take the time to correct such a mistake or are listing it that way for funchal reasons of their own. Your best bet is to contact each of the reporting credit bureaus and dispute the information. If you sent each of them proof that the debt was discharged through Bankruptcy they will remove it from your credit report. 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 responses do not form an attorney-client relationship. In the event that you would like to enter into an attorney-client relationship with me, please call 888-269-0688 to make an appointment.   Joseph F. Botelho, Esq. BOTELHO & ASSOCIATES, LLCAttorneys At Lawwww.massachusettslawyeronline.com 126 Shove Street Unit 202 Fall River, MA 02724 Office: 888-269-0688Cell: 508-801-6747FAX: 877-475-8147 TwitterFacebook  ... Read More

There are two chapters of bankruptcy that typically apply to individual debtors - chapters 7 and 13.  A simple chapter 7 may last around 6 months or more, and will discharge most unsecured debts.  A chapter 13 may last between 3 to 5 years while the debtor continuously pays off the debts owed.  Once an individual files a bankruptcy case an automatic stay is put in place preventing any foreclosure, repossession, or garnishment for a specific time period.  You should contact a licensed bankruptcy attorney in your state, because your case has many different potential issues to resolve before you choose to file. For more information on this topic visit my website at www.alsobrooklaw.com 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

Both chapters 7 and 13 allow the ability to reaffirm debts owed.  You need to speak with a bankruptcy attorney to determine which chapter would best benefit you depending on your current assets and debts. For more information on this topic visit my website at www.alsobrooklaw.com 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