One is only eligible for a Chapter 7 discharge every 8 years from the date of filing. Chapter 13s can be file every 4 years, including 4 years after a Ch. 7 discharge. Even if you are not entitled to another discharge, you may be entitled to bankruptcy relief under Chapter 13, – not to … Read moreCan I file for bankruptcy again?
No. You are required to disclose all property interests you had and transfer made in the three years prior to filing. Such a transfer would be deemed fraudulent and the asset would have to be returned to the bankruptcy estate or the value paid to the estate. Such a transfer would also preclude the application … Read moreCan I put my house in my mother’s name before filing for bankruptcy?
Yes. Once your child leaves the family home he or she is no longer a member of the household. Although supporting one’s child through college is a good thing to do, college is not considered to be a reasonable and necessary household expense and cannot be made at the expense of your creditors. Contact us … Read moreWill bankruptcy effect contributions to my child’s tuition?
No. You cannot claim you don’t have money to pay your creditors and then continue to contribute to your own savings account! Contact us now to inquire about our bankruptcy related legal services.
401k loan repayments are not allowed deductions from income in Chapter 7 cases. You are not prohibited from repaying these loans, but the funds used, if from your income, will be deemed available funds for your creditors and might disqualify you from Chapter 7 relief. If you file for relief under Chapter 13, you are … Read moreCan I continue to repay my 401K if I file for Bankruptcy?
Generally retirement savings are protected in bankruptcy, provided you made your contributions in the normal way. Contact us now to inquire about our bankruptcy related legal services.
You’re not serious are you?! Of course not. Your house serves as collateral to secure payment of your mortgage loan. If you don’t pay, the mortgage company can foreclose. If you have more than one mortgage and there is not enough equity in the house to secure full repayment of the first mortgage, then the … Read moreCan I wipe out my mortgage and still keep my house?
That depends. Cash advances usually are red flags to creditors when someone files bankruptcy. Modest amounts might go by unchallenged. All debt incurred in the 90 days prior to filing is presumptively non-dischargeable on the grounds of fraud. In such cases, the creditor will provide notice of its assessment and make a settlement proposal. Your … Read moreCan cash advances be discharged in Bankruptcy?
That is the reason for having a co-signor. They guaranteed payment if you default. However, if they continue to make the required payments the loan balance will not be accelerated. You can protect a co-signor by filing under Chapter 13. That way, your unsecured creditors are treated equally in your repayment Plan, and the creditor … Read moreWill my account co-signors have to pay if I file for Bankruptcy?
Generally no, but there are exceptions. For instance, if you have filed your income tax return, owe taxes and haven’t heard from the IRS regarding your tax debt for more than three years, this debt may be dischargeable. Contact us now to inquire about our bankruptcy related legal services.