Recent content by despritfreya

I really have nothing to add to this. Taxing Matters' comments are spot on. OP should file a timely Proof of Claim and wait to see what happens. Based upon the comments in this thread, I see no basis for attempting to seek a judgment excepting the debt from Discharge. Des.

I was asked to look at this. From what I gather. . . 1. Mom filed Chapter 13. 2. Mom owned land at the time the case was filed. 3. Mom's Chapter 13 Plan was Confirmed (approved) by the Court. 4. Mom found a buyer for the land and, through her attorney, mom filed a Motion to Sell the...

@Just Blue Thanks for the ping. As this is not related to bankruptcy, I have no comment other than supporting the suggestion that OP should discuss his situation with a qualified attorney in his location. Des.

It goes on for as long as it takes. A family member's divorce took just over 3 years and there were no real assets to argue over. Des.

TM is correct. Once the property is abandoned, the lienholder may proceed under State law to take back the collateral. As to the Court approved sale of other property, the Trustee, in his capacity as Trustee for the Bankruptcy Estate, is the "owner" since he controls the property of the...

For Means Testing purposes (and Schedule J), I use the “heads to beds” approach. If the exchange students are living with you when you file then they are “dependants”. If you get any stipend for them, such is “income”. You need to check with a local bk attny to find out if such is how your...

Then, your discussions regarding the property will continue to be with the Chapter 7 Trustee and/or his/her attorney. Des.

1. Until the case has been adjudicated as an Involuntary Petition, nothing is going to happen. You need to determine where in that process things stand. 2. Once the stay is lifted, it is lifted. A conversion of the case is not going to change that unless there is something in the Order...

Every creditor that the Petitioning Creditors know about would have been included on the initial mailing list. The automatic stay of 11 USC 362 came into immediate effect the moment the Involuntary Petition was filed. As a result, the pending trustee sales (foreclosures) were put on hold...

If these were individuals then most likely they filed Chapter 13. If any of them were over the debt limit allowed at that time, that person would have filed Chapter 11. Entities cannot file Chapter 13. A Chapter 13 is relatively simple as compared to a Chapter 11. Today, the allowed debt...

Unless the court removes the Debtor In Possession (DIP) due to mismanagement or some other bad act, the Debtor is the Trustee in a Chapter 11. If the Debtor elects to file as a Subchapter V Chapter 11, a trustee is appointed but his/her job is to assist the debtor and creditors in an attempt to...

Welcome to the real world. Bankruptcies are filed all the time. Secured creditors are involved and must deal with such cases as the law allows. If you do not want to be the equivalent of a bank, then don't lend out your money. If the case remains as a Chapter 7, the Chapter 7 Trustee will...

This changes things a lot. If the bk sticks, the entity will most likely convert to a Chapter 11. See 11 USC 303. Please note that the term "person" includes "an individual, partnership and corporation". See 11 USC 101(41) This is a good strategy especially if, as you indicate, you are...

I will first assume that neither Chapter 7 cases are “involuntary” filings. I will assume that there were two voluntary Chapter 7 petitions filed, one by an entity and the other by an individual. I will further assume that all real property (except maybe, the individual’s residence) is titled...

Your bk does not stop you from selling the home. Your divorce decree controls the rights of the parties (you and your ex) as it relates to this property (property division). While you are not personally obligated on the promissory note you signed due to your discharge, that note is secured by...