Tennessee Bankruptcy Legal Questions

A debtor cannot voluntarily dismiss a chapter 7 case.  Your options appear to have been correctly stated, either sell the house, or convert to chapter 13 and pay the value of the house over time to your creditors, or the total of their claims, whichever is lower.  You should ask your lawyer about this.  Perhaps there is a way to adjust your exemptions or negotiate a settlement with the trustee.... Read Answer

There are special provisions in the bankruptcy code to protect HOA's. You are liable for post-bankruptcy fees until the property is foreclosed. Notify the lender that you are willing to give them a deed in lieu of foreclosure. Also, notify the police department that the lender is trashing the property after they have changed the locks and taken physical possession.... Read Answer

The answer to your question depends on a few different factors. You will need to find out if the Visa debt was cross-collateralized with the truck. In other words, sometimes, credit unions require that certain secured items (cars, houses, etc.) be collateral for unsecured debts such as credit cards. Your attorney who filed the bankruptcy for you should be able to help you find out if the truck was collateral for the Visa debt. Terry Duncan Charlotte, NC Bankruptcy Lawyer... Read Answer

Yes. You can file for chapter 7 bankruptcy after you sold your home. Chapter 7 bankruptcy will eliminate your unsecured debts. However, you have to pass the means test. You may not be able to qualify if your income is too high. It is advisable that you schedule an appointment with a bankruptcy lawyer to evaluate your individual financial situation.... Read Answer

He can keep the condo, but must continue making payments. Your Chapter 7 will discharge your debt for it regardless of what he does with his liability. If he cannot keep up with the payments in the future, he may need to file his own bankruptcy case, but it doesn't matter to you anymore. If you're not going to continue chipping into the payments, you should quitclaim your interest to him out of fairness and to avoid the hassle down the line of his having to file a lawsuit against you to quiet title that is, for a court to declare that he is the 100% owner. However, you may want to explore a Chapter 13 case if the line of credit is big enough as it might be elimited in a Chapter 13 case.... Read Answer

APPPLIES TO COLORADO BANKRUPTCIES: The average cost of a chapter 7 bankruptcy in Colorado is $1500 ($1200 attorney fees, plus $299 filing fee). If the case is a below average case (an easy case) attorney fees can be as low as $600. Business chapter 7's can be much more expensive, as well as cases with means test or other problems. The starting costs of chapter 13 bankruptcy is usually $3300 attorney fees, plus $276 filing fee. It is rare for experienced counsel to charge below said fees, but the down payment for filing chapter 13 differs greatly. Always ask your bankruptcy attorney what the total chapter 13 fees will be, as well as how much you have to pay down. If you are quoted a price of $1200 by an attorney, that usually refers to the down payment (not the total price).... Read Answer