Peter Arellano did not respond to CBS 5′s request for comment. But Arellano, who is also a Kaiser Permanente physician, told the Dispatch, “there are many people who are American heroes or respected individuals who filed for bankruptcy in the past…” He cited as examples Mark Twain, Olympian Dorothy Hamill, and businessman Donald Trump.
Source: cbslocal.com
Video: Chapter 7:Bankruptcy Liquidation
Bankruptcy Estate When Case Converts
Please tell the UST to explain this to all Chapter 7 Trustees, the word doesnt seem to trickle down and even in converted cases, the Chapter 7 trustee questions at 341 meetings always relate to total current assets. You might want to mention that the tax refund mentioned above was not exempted, although that is an obvious implication.
Source: bankruptcymastery.com
10 Questions: Is Chapter 7 Bankruptcy For You?
Consumer Debt Counselors of Winter Park Department of Justice Approved Credit Counseling Services The Florida Bar Florida Fifth District Court of Appeals Florida Supreme Court Financial Industry Regulatory Authority LegalConsumer.Com Ninth Judicial Circuit Supreme Court of The United States United States Courts United States Court Of Appeals For The Eleventh Circuit United States District Court For The Middle District Of Florida Winter Park Chamber of Commerce United States Bankruptcy Court Middle District of Florida United States Bankruptcy Court Northern District of Florida United States Bankruptcy Court Southern District of Florida
Source: bankruptcy-lanigan.com
Can Chapter 7 Bankruptcy Help Me Stop Foreclosure?
In some cases the lender may look to ask the court to remove the stay to proceed with foreclosure. Often, the automatic stay remains in place if the lender doesn’t provide the court with accurate information claiming to be the mortgage holder. Since mortgages are known to be lumped together or sold to other institutions, the creditor pursuing foreclosure may have a challenging time in providing proof to the court.
Source: allmandlaw.com
‘Rich Dad, Poor Dad’ Author Filed Bankruptcy
Of course, not everyone bought into the schtick. As Helaine Olen’s wrote in Forbes Thursday, the guru’s “tips ran the gamut from ridiculous to illegal and downright hurtful and included advocating for insider trading, arguing for the purchase of multiple real estate properties with little or no money down and telling followers they could purchase stocks on margin via unfunded brokerage accounts.”
Source: businessinsider.com
Is Chapter 7 Bankruptcy Just An Option, Or The Solution?
In most instances, creditors who are classified as ‘unsecured’ in the bankruptcy process are required to get a judgment from the court prior to initiating their collection efforts, like garnishing an individual’s wages or taking actual possession of their personal property or assets. Bear in mind that collection activity for any taxes, child support, and even student loans the individual owes are excluded from this type of legal protection. The next issue arises concerning whether the individual actually has sufficient income or property to satisfy the creditors that do require a court-ordered judgment should they spend the time and effort to obtain one. As an example, if the individual’s only source of income is through Social Security, which is protected from creditor actions, and their property or assets are considered exempt by the court, there is little left for the creditors to seize to satisfy any judgment efforts. If there is nothing to be gained or collected, the creditors will usually abandon the idea of pursuing legal actions against the debtor.
Source: topofutahlaw.com
Will Chapter 7 Bankruptcy Dismiss Second Mortgage?
In essence, in the situation you describe, after bankruptcy you would have ended up personally owing the amount to the bank for the first loan and not personally obligated on the second loan. But the two lenders would, or might, still have their lien rights to foreclose on the home due to your failure to pay the amounts owed to these lenders. Unless the bankruptcy court not only discharged the debt, but also eliminated the lien the second lender had on your home, you might still lose the home in foreclosure.
Source: thinkglink.com
After a chapter 7 bankruptcy how will it effect my taxes when i file.
You may want to visit the Bankruptcy and Debt Center: Chapter 7 Bankruptcy and read Chapter 7: How it Works. I also suggest you consult with a local Tax Lawyer to advise you further in detail on this subject matter.
Source: findlaw.com
Chapter 7 Bankruptcy Iowa Provides A Fresh Start Submit Editorials
Once you file for bankruptcy, garnishments, judgments and creditor harassment will cease. In some cases, previous judgments can be released or discharged depending on your situation. To do the best job for you, your attorney must know about all outstanding debts, liens against your home, judgments and garnishments, and anything else relevant to your overall financial situation. One of the biggest mistakes an individual can make during the process is to not fully disclose their situation to their attorney. Creditors over the last several years have become more diligent, and often abusive, in their collection tactics. They must cease in contacting you once you have filed for bankruptcy.
Source: submiteditorials.com
How do I file bankruptcy? Duties and Documents.
California (Bay Area) California (Chico) Connecticut Florida (Northeast) Florida (Southwest) Georgia (Atlanta Area) Illinois (Southern) Kansas Louisiana Massachusetts (Boston) Massachusetts (Springfield) Michigan Minnesota Missouri (Kansas City) Missouri (St. Louis Area) New York (Upstate) New York Bankruptcy Lawyer North Carolina (Charlotte area) Oregon (South) Oregon (Willamette Valley) South Carolina North Carolina (Eastern, Wilson) South Carolina (Charleston)
Source: bankruptcylawnetwork.com