Texas Bankruptcy Legal Questions

Yes, but such a filing may be subject to challenge. The question is whether you can pay your bills as they come due.  These kind of questions depend a lot on local courts. I'd suggest you visit with a local bankruptcy attorney. They often will even give free consultations. Before you go, scratch our a budget of your bills, income, assets, and debts.  Good luck!... Read More

Good morning  Im sorry to hear about your financial situation. Depening on which city you reside, you should seek out lcoal counsel. If you reside in Houston area, our office offers a free consultation to go over your options If so, please feel free to contact me Peter Kim, Attorney... Read More

Good morning Yes you can flie a chp7. As long as you are current on your mortgage and if your only source of income is social security, you will be eligible to file a chp7 case.  Pertaining to your wife's asset, depending on what they are, they can be protected, but it depends If you reside in the Houston area, then you can give a call to our office for a free consultation  Peter Kim, Attorney... Read More

Good morning   Yes, you can file a chp13 bankruptcy with your only income being Social Security. However, the important question to ask is if chp 13 or chp7 would be best for you. If your current on your mortgage payments, then you could file a chp7 to eliminate your unsecured debts (ie credit card, loans, etc)  If your behind on your mortgage, the  chp13 would be the type of bankrutpcy that you would be looking into. In a chp13, you will make the ongoing mortgage plus the mortgage arrears to get yourself current. All your unsecured debts would still be wiped away. The chp13 is a 3-5 year plan where the mortgage arrears would be divided by the 3 or up to 5 years period of time.  I apologize for the general response, but if you want more specific answers, please feel free to contact me if you reside in or around the Houston area (since we only practice in the Houston area) Peter Kim, Attorney... Read More

If you are asking whether an authorized user is liable for the primary signatore's obligations on a credit card, the answer depends on the laws of whatever state governs the contract and, most likely, whether the authorized user signed the cardholder agreement.  In most cases if they did not sign the agreement, then they are only liable for the actual charges they made on the card (where they signed for the charges).... Read More

Good morning Im sorry to hear about your situation. If you file a bankruptcy (chp 7 or chp 13 depending on your financial situation) it will 1) stop the lawsuit per the automatic stay. The automatic stay is like your legal shield that stops lawsuits, repossession, foreclosure, etc.. 2) The bankruptcy will address all your debts all at one time. This means that not only will this lawsuit and the underlying debt be address, anything else you owe will also be address. Depending on the nature of hte lawsuit, the bankruptcy will discharge (eliminate) your personal liability on your unsecured debts. Unsecured debts, even if a lawsuit is filed, will be discharged in a bankruptcy (barring very few exception) If you reside in Houston, my firm provides a free consultation to discuss your case. Peter Kim, Attorney (713) 259-3929... Read More

Yes you can include such debt in your bankruptcy. Luckily in bankruptcy, the bankruptcy looks at the substance of the judgement such as what the debt is  If it is a unsecured debt then you can discharge it in your bankruptcy case. However there are exceptions to the dischargeability rule Contact a local bankruptcy attorney to assist you If you reside in Houston, our firm provide free consultation to go over your facts and options so that you can make the best decision possible   Peter Kim, attorney Phone 713 259 3929... Read More

Good afternoon Im sorry to hear about your husband's difficult situation. Technically speaking, yes he can, but it may be difficult going forward. What I mean by that is, 1st if your husband files a bankruptcy, he does need to sign off on all documents filed. 2nd He does need to make an appearance for all the court hearings that are set. Since he is in prison, there are waivers or power of attorney that maybe used to get around that, but practically speaking, that will raise a secondary issue which is that your cost that your attorney may charge will go up. These extraordinary issues maybe something that attorneys will charge more for because it will require additional work outside the ordinary. If it is not an emergency situation to file for a bankruptcy, then waiting until he is out of prison may be the most prudent and cost effective path to take Hope this helps and if you are in Houston, TX or in the surrouding area, please feel free to contact me for further information or clarification Min Gyu Kim (Peter) Attorney at Law Law Firm of Min Gyu Kim PLLC Galleria Office 2100 West Loop South, Suite 805 Houston, TX 77027 Tel: (713) 259-3929 email: minkim@kimlylaw.com... Read More

Good afternoon Your question cut off a little bit, but correct me if Im wrong, but it sounds like you are asking if you can keep both cars if you can only afford to keep only 1 based on your budget? Couple of things to keep in mind, 1) if you are filing a Chp7 bankruptcy, you have to be current on your secured debts (ie car note, mortgage, etc) and sign a reaffirmation agreement to keep the car and continue making payments on it under the original contract. (There are exception to that rule where you can potentially redeem the secured asset where you pay the value rather then what is owed, but it will be fact intensive) 2) If you are behind on your secured debts and you are wanting to keep the asset/car, your only other option is to file a Chp 13 bankruptcy. The chp 13 bankruptcy is where you are in a bankruptcy for a period of 3-5 years (depending on your income). The chp 13 will essentially "refinance" the car in the chp 13 bankruptcy where regardless you are behind or not, we get the total claim owed on the car and strech it out for the life of your chp 13 case (either 3 yrs or up to 5 yrs). At the same time we are able reduce your interest down to 5.5% interest (prime +1%). Based on this calculation your monthly paymetns may reduce. At the same time if you had purchase the car more then 910 days (about 2 1/2 years) you can utilitze a unique aspect of the chp 13 bankruptcy where you pay just the value rather then what is owed (ie value is $15k but you owe $25k, in the chp 13 you end up paying just the 15k and the remaining balance is treated as unsecured debt) Before you file the bankruptcy, please make sure you inform your attorney your status with the cars/secured debt (it is always advise to seek an attorney to assist you on your bankruptcy options)  If you are located in Houston, you can always contact me for assistance as well! Min Gyu Kim (Peter) Attorney at Law Law Firm of Min Gyu Kim PLLC   Galleria Office 2100 West Loop South, Suite 805 Houston, TX 77027 Tel: (713) 259-3929 email: minkim@kimlylaw.com... Read More

You should only respond to a motion to lift stay if you oppose it AND have a legal defense to the motion. Based on what you have posted, it sounds like you do not meet either criteria to pursue opposing the lift stay. But consult with your own attorney because it is unclear whether you have disclosed all the information needed to say for sure.... Read More

The following answer applies to California jurisdiction only. I don't know of any local bankruptcy attorney who would condone or suggest to a client that they reaffirm a mortgage debt. It is not in your best interest to do that so the fact that you did not reaffirm is not a bad thing. If at some point you can't afford to make the payments anymore because you have filed and received a discharge in bankruptcy AND because you have NOT reaffirmed the debt you can walk away from the property. The only remedy the creditor(s) have is to take the property, they cannot sue you for any deficiency or attempt to collect from you. The protection of the bankruptcy discharge makes any such collections illegal. A loan modification, should you get one, would not change this result. Refinancing however would because when you refinance you get a new loan and in your case it would be a loan acquired after the bankruptcy had already been filed. Hope this perspective helps. Take care.... Read More

You have an absolute right to be happy with your lawyer. I charge a little more then younger, less experienced attorneys, but we do a very detailed sit down and review with our clients so there are no mistakes. My initial consultation takes at least an hour - I explain everything. At the review and sign, we do a three page checklist with the client so there are no misunderstandings (this takes one to two hours). We also go through a list of questions to be asked at the Creditors' Meeting by the Trustee. I meet my clients one hour before the Creditors' Meeting to go over everything one last time. This is time consuming and takes extra effort. But I have successfully filed thousand of bankruptcies. There are a lot of good attorneys out there - you just need to find the right one.... Read More

In my practice, I've found that most couples can buy a house at reasonable interest in two years after filing a Chapter 7. You'll need to reestablish your credit. That means you have to make your payments on time to a business that reports to the credit agencies. For example, you're renting an apartment or a house, you pay utilities but most landlords and utilities don't report to the credit agencies. Car loans and credit cards generally report, so if you have a car loan, you're rebuilding your credit just by making the payments. When you filed bankruptcy, you received a swarm of car loan and credit card offers - many of these are ripoffs but you should look at them and if there is a low limit credit card with a good interest rate (in your case consider 18% a good interest rate), then apply and make the payment every month.... Read More

Yes, you can file for bankruptcy if you receive SSDI disability income, Azure form of income. Although your question states that you need a vehicle but your keeping it, even though you can't afford it. If you have a car loan in your behind on payments or if you cannot make the monthly payments which will be demonstrated in your bankruptcy petition, you will not be able to keep the vehicle with a chapter 7 bankruptcy. If you are behind on payments on your vehicle you will need to use a chapter 13 bankruptcy to catch up on payments, but if you can't afford it there knocking a let you keep it. I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. 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 LAW GROUP Attorneys At Law http://fallriverbankruptcyattorney.com/ 901 Eastern Ave.  Unit 2 Fall River, MA 02723  Office:  888-269-0688 FAX:    877-475-8147 #bankruptcy  #lawyer  #FallRiver  #Chapter7  #chapter13  #debt  #debtsettlement  #foreclosure  #attorney   #cantpaybills  #lawsuit  #court  #bankruptcycourt  #eviction  #lostmyjob... Read More

That would depend on if you want to file either chapter 7 bankruptcy or chapter 13 bankruptcy, as there are different requirements for each. Most people are thinking chapter 7 bankruptcy so. With that first. The first requirement is based on the number of people living in your home and your median family income, which could be verified on the government bankruptcy website is your first determination. If for the size of your family, your income is too high you'll be forced to file a chapter 13 bankruptcy. There is no lower limit for how much debt you need to file chapter 7 bankruptcy, and the upper limit is over $1 million which I've never seen anyone filing chapter 7 actually reach. The filing fee for a chapter 7 bankruptcy is $306 and the filing fee for chapter 13 bankruptcy is $281. For chapter 13 bankruptcy you must have regular income, meaning your income does not go up and down from month-to-month to qualify. The reason that you'd use a chapter 13 over chapter 7 is either if you make too much money to file a seven or if you have assets you wish to protect. There are many questions that you did not ask, that should be answered by a qualified and experienced bankruptcy attorney. I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. 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 LAW GROUP Attorneys At Law http://fallriverbankruptcyattorney.com/ 901 Eastern Ave.  Unit 2 Fall River, MA 02723  Office:  888-269-0688 FAX:    877-475-8147 #bankruptcy  #lawyer  #FallRiver  #Chapter7  #chapter13  #debt  #debtsettlement  #foreclosure  #attorney   #cantpaybills  #lawsuit  #court  #bankruptcycourt  #eviction  #lostmyjob... Read More

First, nothing obligates someone to accept any power of attorney. Some institutions are concerned they may be forged or revoked and they will have some liability for accepting them. To increase your chances that your power of attorney will be accepted, you should have one prepared that meets the Texas statutory language. They are at least used to seeing that language in valid documents. As an alternative, he can sign documents to make withdrawals or deposits to his account from the jail.... Read More