Restructure Group Laguna Beach CA and Everett CA
Restructuring Advisory Group, CMBS Restructuring Expert. Restructuring Advisory Group, CMBS Restructuring Expert. Restructuring Advisory Group, CMBS Restructuring Expert. Restructuring Advisory Group, CMBS Restructuring Expert. Bankruptcy and Eviction FAQ for Tenants and Landlords - David Offen, Esq.
If you are a tenant facing eviction, you can use bankruptcy to temporarily “stop” or stay eviction proceedings.
You can also get debt such as credit card debt and medical bills discharged, and in certain circumstances pay off past-due rent over time and stay in your rental property. How Do You Pay For And Afford A Bankruptcy Lawyer Attorney. It is an obvious dilemma.
How can you afford a bankruptcy attorney when you have no money? Like anything else in law, representation by an attorney – and the quality of the attorney – can make a big difference. So what can be done to enable the hiring of a bankruptcy attorney? For individuals, your bankruptcy chapter choices will be either Chapter 7 , Chapter 13, or Chapter 11. The differences have been explored in prior articles and will not be detailed here. For purposes of this article, the difference in terms of paying attorney’s fees are as follows: In Chapter 7, all attorneys fees must be paid prior to the case being filed.In Chapter 13 and Chapter 11, some attorneys fees can be paid through the repayment plan after the case is filed. Do we lose all the equity in our home if we do not reaffirm the mortgage in bankruptcy?
No, it’s still your home and your equity.
The only thing that reaffirmation does is keep it on your credit. I had a client contact me today because Wells Fargo never filed the reaffirmation agreement that we signed 6 months ago. She was worried, because it sounds like a big deal. Thankfully, it’s really not (and probably for the best). Here is my email response to her: what if they didn’t reaffirm? I forgot to take my second bankruptcy class. Can the court extend the time to file my financial management course certificate (Form 423)?
Yes, you can extend the time.
And no, this is not really how my client asked the question. To quote as best I can, he called me and said, Man, I got your email and text and totally forgot to take that class. Am I screwed? The court letter says it was due last week and I don’t have $260 to pay those bastards. For a little explanation, you have to take two online classes as part of your bankrutptcy. When your case is about to close out, the court will send you a reminder letter. Today one of my clients called me saying that he missed the deadline. MOTION TO EXTEND DEADLINE TO FILE FORM 423 On July 15, 2020, this Court issued a Notice to Debtor(s) of Deficiency Concerning Discharge and Requirement to Complete Debtor Education, giving a deadline of July 27, 2020 to file Form 423. Apparently this happens more than I thought. From a practice standpoint for other attorneys reading this, I did NOT file a certificate of service. Hopefully my client will take that second class this weekend.
Filing Bankruptcy At Age 21, 25, 30, 35, 40, 45. To determine when or if to file a bankruptcy case requires one to examine multiple factors.
Age is not really a critical factor–as explained more fully below–but it is one to consider. A 23 year old is going to have different goals than someone who is, say, 75. Older people do not own exclusive rights to financial problems. It happens to those more junior in years as well. Factors To Consider Before Filing Bankruptcy To decide whether to file bankruptcy, the best thing to do is schedule a consultation with an experienced bankruptcy attorney in your state to go over all the relevant factors. Do you have a debt amount that you cannot repay in a reasonable amount of time? Those who are younger generally have lower incomes than their more senior counterparts. Let’s say you are 24 and just out of school. How Does Bankruptcy Affect Divorce Actions And Settlements.
Bankruptcy does not prevent people from getting divorced.
But it can affect how property is divided. A bankruptcy trustee can recover unequal divisions of property. For example, wife gets the million dollar house and husband gets the 18 year old Toyota Tercel. If husband later files a Chapter 7 bankruptcy, the Trustee can sue the wife for what should have been husband’s 50% interest in the property. Many people try to get divorced amicably. They prefer not to get a court involved and drive up fees. And that makes sense. But there are benefits to getting a court ruling on property distribution and clarity on any post divorce obligations. Get A Court Order Approving The Property Distribution It is important to get a ruling from a judge in any dissolution case where property is being divided. I frequently see cases where an amicable spouse gives up their interest in the family home to the other spouse.
And they receive nothing in return. “It was the right thing to do” they tell me. Restructuring Advisory Group, CMBS Restructuring Expert. Restructuring Advisory Group, CMBS Restructuring Expert.