Virginia Bankruptcy Legal Questions

"Small business" does not tell me anything about how your business is legally held.  Is this a corporation?  Is it a partnership?  An LLC?  An LLP?  Or is it merely a sole proprietorship/dba of yourself?  The answer to your question depends on the answer to the above. If you are a sole proprietorship, then you are liable for the debts.  If not, then you probably are not, but it depends on whether you personally guaranteed the debts or there is any basis to pierce the corporate veil (if it is a corporation) under applicable state law. Finally, if your business is a corporation, filing a bankruptcy may or may not be beneficial.  You should review my article on filing bankruptcy for corporations.  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

Exemption laws vary from state to state, and a determination must be made as to which state's (or federal) exemption laws would apply in your case before one could answer your question as to which assets, and in what amount, can be exempted in any particular circumstance. 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.  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

You can seek to reopen any bankruptcy case, but you have to first ask yourself why you want or need to do it.  From your facts, although you don't state it, it seems the reason you think you want to do this is so that you will be able to discharge some state taxes. In most states (and I have no idea whether or not Virginia--if that's where your bankruptcy case was filed--follows this), if your Chapter 7 was a no-asset case (meaning no assets were distributed by the Trustee), then you do not need to add creditors that were inadvertently omitted.  You would need to check with a bankruptcy attorney in your state to get more information about that. But the bigger question is whether or not the state taxes were even dischargeable in your case had you "listed" them to begin with.  This depends on what type of taxes they are, what year they are owed for, the date the returns were filed, and other factors.  See more on dischargeability of taxes in bankruptcy.  You don't provide sufficient information to be able to address that. 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 short answer depends on whether the car is worth more money than the amount you owe and on how long you have owned the car. You really need to talk to your attorney to discuss the details. If he won't return your calls, go camp out at his office until he can see you. Or, consult another local lawyer to get a second opinion.... Read More

Why do you need to meet with the judge in your case in order to have the case reopened?  Isn't that your lawyer's job?  In any event, as long as the bankruptcy court did not dismiss your prior case with a prohibition on refiling, then you can file another case as long as venue is proper in that jurisdiction. Pursuant to 28 U.S.C. 1408, a bankruptcy case may be filed in the jurisdiction where you (the debtor) have resided for the greater part of the 180 days prior to filing the bankruptcy case, or where your principal assets or principal place of business were located during that period.  In most cases this means simply where you lived for the last 91 days, so if you moved to Virginia more than 90 days ago, then you can file in Virginia. One cautionary note:  Because your prior case was dismissed within the past 12 months, the automatic stay which prevents creditors from taking collection actions against you during your bankruptcy case will terminate in your next case after 30 days unless you get the court to extend it.  This may not be a big deal in a Chapter 7 case, but something you should definitely discuss with your bankruptcy attorney. 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

Bankruptcy is certainly an option to examine.  Whether it is your best option or not can only be determined after a comprehensive analysis of all your options, including bankruptcy options by an experienced bankruptcy lawyer in your area.   Chapter 13 and Chapter 11 bankruptcy cases allow you to catch up on past due mortgage payments and cure the default on your mortgage.  Also, it does not prevent you from continuing (or starting) loan modification applications to help lower your payments.  Sometimes, depending on the value of your home and amounts owed against it, you may even be able to remove junior liens (2nd or 3rd mortgages)  completely. I suggest scheduling a consultation with a bankruptcy lawyer at your earliest convenience to explore your options. 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

Do You Need a Bankruptcy Attorney? I recently wrote an article examining whether one needs a bankruptcy attorney to go through the bankruptcy process.   I also discussed the dangers of low cost bankruptcy attorneys in a separate article.  Unfortunately, there is no substitution and no shortcuts to using an experienced bankruptcy attorney to represent you.   What Are the Costs of Bankruptcy Representation? The costs vary and you should consult with several bankruptcy attorneys in your area to get an idea of your options and costs.  Most offer free initial consultations. Dangers of Not Using a Bankruptcy Attorney There are huge dangers for not using an attorney, or for using an inexperienced bankruptcy attorney.   These dangers include failure to achieve a discharge of your debts, loss of assets, potential lawsuits for failure to properly list things in your bankruptcy papers--including suits against friends or relatives if you have transferred any assets to or repaid them within certain time periods, and many other factors that at the very least can greatly increase your costs.   See my list of factors to consider when hiring a bankruptcy attorney.    Low Cost Alternatives to Bankruptcy Lawyers  Your local bar association may have "low fee" or "modest means" referrals to bankruptcy attorneys who handle such cases.  I would suggest looking into that if your other options prove to be too expensive.   As far as doing it yourself, it is never advised, although it is certainly possible if you learn all the relevant procedural rules and local rules of the courts in your jurisdiction.   See my article on the report from the US Bankruptcy Court of the Central District of California showing the extremely low success rates of those filing bankruptcy cases without an attorney. Good luck whichever way you proceed. _____ 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

Yes, of course, although the financial aid may need to be factored into your budget and/or the means test in bankruptcy.  You would need to go over the specifics with a qualified bankruptcy attorney to see if this would affect anything. 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

Whether you can keep assets in any bankruptcy case depends on a number of factors, including which chapter you file, the value of the asset, and the amount of exemptions you have available under applicable law. 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 consult with a bankruptcy attorney in your area for more specifics to your situation. 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 depends on what it is you want to accomplish and what the court hearing you refer to is about.  If you didn't pay your filing fee, eventually your case will be dismissed.  If that's not what you want to have happen, my suggestion is you hire a new bankruptcy attorney immediately to help resolve whatever issues you may have. 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, you can convert to  Chapter 7 case at any time, assuming you are eligible to be in a Chapter 7 case (based on budget and other criteria).   As to your asset question, I'm not sure I understand it.  You are require to list all assets and all debts that you have any interest in.  That obviously includes joint accounts and other assets. 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 depends on the area in which you live.  Check out: http://www.vsb.org/site/pro_bono/ You should also consult the local bar association for the city nearest you. 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 trying to keep your house?  If not, it sounds like Flagstar is filing (or has filed) a Motion for Relief From the Automatic Stay for permission to commence foreclosure proceedings.  Did you indicate an intent to surrender the property?  If so, that's why you got the letter. It is a bit unusual for them to send you the letter, but probably isn't going to harm anything to sign it, but you need to have your attorney review it to be sure.  The safest approach is just to let them file the required motion with the court and it will be granted if you do not file an opposition to it. 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

The fact that you even ask the question tells me that you don't understand what is going on.  The "preliminary" hearing will also be the final hearing where the court permits the foreclosure on your house, unless you file a timely objection countering the moving party's motion. ... Read More

This really depends on what the courts in your jurisdiction allow.  It also depends on what percentage of unsecured debts your plan is repaying.  If you are doing a 100% repayment plan, the court won't have any problem with you paying it off early.  If you're paying less than 100%, then you might have issues especially if the reason is you anticipate your income increasing. You need to discuss this with a bankruptcy attorney in your area. 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 the company in question has file for Chapter 7 bankruptcy or chapter 13 bankruptcy you would want to contact the bankruptcy trustee to find out if there actually any funds available from the company for your refund. If the check itself has not been cashed yet, the simplest and easiest thing for you to do is go to your bank and have the check voided. 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

Whether you can keep your home in bankruptcy depends on which chapter you file, the value of your home, amount of equity in it, what exemptions are available under applicable law and, of course, whether you can stay current with secured debt (mortgage) obligations on the home.  There's nowhere near enough information to answer your question further. 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. I suggest consulting with a bankruptcy attorney in your area for more information. 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

The answer to your questions are going to depend in large part on the laws of the state where you were married and where the properties are located.  If Virginia is a community property state, then you are liable for any of the debts incurred during the marriage.  If not, then you shouldn't be.  It really depends on state law. You may want to consult with a bankruptcy attorney in your area to discuss more specifics of your situation.  Perhaps a bankruptcy for yourself may be necessary. 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

The only bank I know of that "holds" or freezes funds in a bank account after the filing of a bankruptcy case is Wells Fargo Bank.  They take the position that they are holding the funds for the benefit of the bankruptcy trustee.   However, some courts have held this to be a violation of the automatic stay, so au need to discuss with your attorney how best to proceed on this.  The freeze is only temporary, so it's a matter of how long it takes to get them to release the funds. 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 can never seek relief from income taxes or any other type of federal taxes in either chapter 7 bankruptcy or chapter 13 bankruptcy. Depending on the type of business that you owned; Corporation or LLC, if you are not a sole proprietor the taxes may be due the company and not you personally. You should seek the advice of an accountant on that matter. But no bankruptcy filing can ever discharge federal taxes owed. 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