Delaware Bankruptcy Legal Questions

Tax-deferred retirement funds are usually exempt under both state and federal bankruptcy exemptions. If your REIT investment is just part of the portfolio in a tax-deferred retirement account, then it too would be exempt. If it is not contained within a retirement account, however, it would be considered an asset in a bankruptcy.... Read More

Your bankruptcy cannot "absolve" your father of the liability. The judge is holding a hearing because he apparently does not believe you should reaffirm those 2 vehicles. If you reaffirm and then default on the cars and they are repossessed, then you will owe the deficiency. If you withdraw or rescind the reaffirmations or the judge disapproves them, you will not owe any money if the cars are repossessed or your surrender them. I think that is the best you can do and if the banks come after your father it would only be for the deficiency if you surrender the vehicles.... Read More

Your facts are a bit confusing.  Are you saying the Bill McCulloch is representing you as your attorney, or that he is the Trustee in the case that you filed?  You don't file bankruptcy "through a trustee" so that's what I don't understand. If you had the right to receive anything from your mother's estate, then that is an asset which must be listed on your bankruptcy schedules and, if not exempted, belongs to the Trustee in your case.  Period.  This shouldn't affect your discharge, however, unless someone brought a complaint objecting to your discharge.   Sounds like you should hire an attorney (if you don't already have one) to look at all this and see if there's anything that can be done to expedite the discharge.  A lot may depend on the local practice in your jurisdiction. 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 or not someone loses their home depends on the equity in the home. That means that it depends on how much the home is worth, then subtracting the amount owed on the mortgage(s), determining how much that person's share of the house is worth. The bankruptcy trustee will review this and decide if there is more equity than the person who filed Chapter 7 can keep, which is $15,000.00 in Illinois. It is best that whoever is filing the bankruptcy speak to an experienced bankruptcy attorney before filing the case to review all of the facts.... Read More

When you are served with a lawsuit, you have 30 days to respond to it (or 14 days if it is in small claims court). If you file bankruptcy before that 30-day (or 14-day) deadline is up, then you will prevent the creditor from getting a default judgment against you. If you don't file by the deadline and they get a judgment, when you file bankruptcy that will stop all collection activity and the judgment will no longer be enforceable.... Read More

Sometimes people are allowed to modified there Bankruptcy Terms and or Conditions. You would have to contact an attorney to see if this terms meet your particular case and circumstances.         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.      Tai Figueiredo Paralegal BOTELHO & ASSOCIATES, LLCAttorneys At Law www.massachusettslawyeronline.com126 Shove Street Unit 202 Fall River, MA 02724 Office:  888-269-0688FAX:    877-475-8147 ... Read More

I don't know how informed your attorney is keeping you. If he calculated your disposable income to make payouts of 10% to unsecured creditors, then it's pretty obvious having a baby will reduce your disposable income and therefore, your plan payments. At the same time, if you don't have a prenup and you get married to Michael Jordan who makes 60 million a year, half of it being yours due to community property laws, wouldn't your disposable income go up? Wouldn't your Plan payments go up? So what difference does it make whether it's MJ making 60 million or your husband making 60k? If your plan payments are paying 0% to unsecured class, then that can't get any lower, so maybe that's your situation. I'd hate to second guess another attorney. About including your spouses information. I don't know enough to give you a straight answer. You really need to either provide that info per your attorney or find another attorney. Finally, your attorney would have to do a motion to modify the Plan for your payments to change.... Read More

Tax discharge analysis is extremely complicated and way beyond the scope of a forum like this. For basic information on tax dischargeability, you can review my bankruptcy tax page. There isn't enough information to answer your question, but I can provide you the following based on certain assumptions: Assuming you filed your 2010 tax return ON TIME (by April of 2011) then the earliest your taxes would be dischargeable would be in a bankruptcy case filed AFTER April 15 of 2014.   There are, as you can see from the above link, many other requirements, but if you can't get past that first requirement, the others don't matter at this point. 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.  CONTACT MARK for more information or to schedule an appointment.   ... Read More

This question is a little unclear. You say you did not sign for the loan, but you also say the loan is in your name. It may be irrelevant, if you live in Wisconsin, your wife signing binds you to the debt as well. Wisconsin is a community property state. I cannot say how your can protect your property since I don't really know what the situation is that you are referring to.... Read More