Bankruptcy Legal Questions

I'm not clear on how you add something that you already listed.  Since it is already there, you do not need to add it. Even if you had not listed it, you would not need to "add" it.  See my article on this topic here:  https://www.bklaw.com/bankruptcy-blog/2018/07/forget-to-list-a-debt-in-my-bankruptcy-case/... Read More

Ms. Bailey, this forum is for asking for specific legal questions.  As to cost, attorneys have different prices, but they are usually within the same ball park in the same areas so you will need to find an attorney that will help you in your area.  In general terms, the state of Tennessee is divided into 3 areas: Western Tennessee, Middle Tennessee and Eastern Tennessee.  I practice in the Eastern area so, for example, if you contacted my office they could provide you with the general information and costs for the counties in Eastern Tennessee. ... 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

If the house is your principal residence, there is no way to force the lender to accept anything other than the current contract terms.  Even if it is not your principal residence, the lender has the right to do what is known as "an 1111(b) election" to require the full amount of the loan to be paid, although you can usually stretch it out over a longer term and reduce the monthly payments somewhat. Leasing just before filing bankruptcy might work to change the character of the property from  principal residence to rental.  But that is going to ultimately be up to the Judge in your case.   Chapter 11 is very complex and involved, but the bottom line is that it is all about negotiations with the creditors.  If you can get your creditors to agree to whatever you are proposing, then you can usually confirm a Plan of Reorganization.   Be sure you hire an experienced bankruptcy attorney if you proceed.... Read More

You have to include all your creditors on your schedule. If you want to keep the furniture purchased from the different creditors, then you have to reaffirm the debt, which may defeat the purpose for filing the bankruptcy. Failure to do so, the creditors are entitled to their goods. It's more like you cannot afford to keep what you have!... 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

Your facts are not very clear, but if you are a creditor secured by the vehicle and the debtor is behind on payments, you must get permission from the bankruptcy court to repossess it under applicable nonbankruptcy law.  You need to file a Motion For Relief From Automatic Stay to do so.  ... Read More

That depends on which Chapter of bankruptcy you filed, which you have not disclosed here. If you filed a Chapter 7 case, it should not matter at all. However, if you are in an active Chapter 13 or Chapter 11 case, there can be big repercussions depending on your spouse's income and expenses.  Primarily what can happen is that you will be responsible for any increase in your household disposable income from the date you got married forward, so you may end up with a large amount you need to pay at the end of your case in order to obtain your discharge. You should discuss this with your bankruptcy attorney immediately as they are in the best position to advise you on how to proceed, after reviewing all the relevant facts specific to your case.... Read More

If you had a 100% plan and all filed claims have been paid in full, you should contact the Trustee to start the closing process and get your discharge (if eligible).  Any surplus remaining will be returned to you, or your attorney, depending on the local bankruptcy rules for the district where your case was filed.... Read More

How did you get a Chapter 13 case confirmed with no income?  Your attorney is in the best position to answer your question on this, so you should ask them.  But my thought is that you should be able to use the 401k as you wish, but you need to understand that if you are below retirement age, you will likely end up having to pay taxes and penalties on the early withdrawal, and if those are not timely paid, it can cause problems in your Chapter 13 case as well (i.e. dismissal of the case for not paying postpetition expenses). Ultimately the answer depends on multiple factors, including the terms of your confirmed plan, your current budget, and your expected budget, as well as your debt classifications and other things, which is why your attorney is the best person to advise you on this.... Read More

Mortgages do not get "dismissed".  If your bankruptcy was successful than your personal liability is discharged.  However unless a 506 Motion was filed and granted and you completed a chapter 13 plan, then the second mortgage (never first) could be determined to not attach to equity and therefore be considered "unsecured".  This is very technical information adn it sounds as though you need to sit with an experienced attorney.  Please feel free to contact my firm and I will be happy to go over this with you further.... Read More

You can convert your case to Chapter 7 at any time assuming it wasn't previously converted.  However, it may not be in your best interest to  do so if you have non-exempt assets or other transfer issues which a Ch. 7 Trustee might be interested in. But you may be able to modify (i.e. lower) your plan payment based on new circumstances, or even seek a "hardship discharge" in Ch. 13, but those depend on a lot of different factors. If you are not presently represented by an attorney, you have almost no chance of succeeding in a Ch. 13 case anyway.  You need to hire an experienced bankruptcy to review your case and advise you on your best options.  ... Read More

Under the bankruptcy rules, the tax returns for the last 4 years has to be filed. Even if he owes, please keep in mind the debt will not be discharged based on your facts provided.    Nonetheless contact a local bankruptcy attorney for specific information based on your sons facts ... Read More