• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Search results

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

Google Search Results Community Search Results

    1. D

      Bankruptcy and Taxes

      Are you indicating the SubS corps do not pay income tax at all? Not an accountant so not sure but, if so, then line 25 of Form 1120S makes no sense and neither do the instructions that go along with the form as it relates to line 25: Please clarify/educate. Des.
    2. D

      Bankruptcy and Taxes

      Based upon OP's last post I see no reason for this entity to do a bankruptcy. It is not reorganizing and so long as OP does not try to establish a new business doing exactly the same as the old business, the entity appears to be dead. Who cares if someone sues a dead person? Lastly, Federal...
    3. D

      Bankruptcy and Taxes

      If this entity is reorganizing it would be filing a Chapter 11. If it is shutting down there are very few reasons such an entity would file a Chapter 7. Chapter 7 is typically not done for entities unless there is a specific reason to file. Entities MUST be represented by an attorney...
    4. D

      Judgment not satisfied in bankruptcy.

      This is why OP moves escrow to First American Title. Its now retired in-house Counsel, John Graham, was the best. He understood all of the nuances of bk law and instructed the title company accordingly. I believe his wisdom still permeates the policies at FAT. Des.
    5. D

      Judgment not satisfied in bankruptcy.

      I wanted to follow up with this. I have always been of the opinion (right or wrong) that a judgment lien recorded pre petition does not attach to property acquired post discharge but I have never researched the issue nor have I ever had to deal with the issue. I do not know what 9th Circuit or...
    6. D

      Judgment not satisfied in bankruptcy.

      Since this is not your homestead and you did not do a "522(f)" motion in the Chapter 7 (no comment as to whether or not such a motion would have been successful in Arizona), the judgment lien could be a problem. If the creditor is not willing to issue a release of the judgment lien you might be...
    7. D

      Judgment not satisfied in bankruptcy.

      You are in Arizona. The judgment lien does not, I repeat, DOES NOT, attach to your homestead residence. If you are selling your homestead residence use a different title company. I suggest First American Title. If the property is not your homestead residence you do have a problem. For...
    8. D

      Chapter 13 HAVEN Act

      Glad you found an attny willing to move the envelope without cost to you. Please keep us informed re: the terms of your Amended Chapter 13 Plan, the Trustee's "recommendation" as it relates to the Amended Plan, and the final Court determination (ruling holding that VA disability is now treated...
    9. D

      Chapter 13 HAVEN Act

      Peter, As I indicated on the other forum, the new law does not appear to be retroactive and, if it is not, it does not impact your case as it relates to the means test. As to Schedule I, your attny is indicating that there is absolutely no support for the proposition that VA benefits are...
    10. D

      save my home - how? ch 7 or ch 13?

      Assuming your case does not get dismissed relatively quickly - meaning you have filed all required documents timely - in general, a Chapter 7 will delay the loss of the house 1) until the lender files a Motion For Relief From Stay and that Motion is granted; or 2) the entry of your Discharge and...
    11. D

      Order for Motion for Relief

      What's your question? Please note the following: 1. An entity (corp, llc, etc.) must be represented by counsel. 2. A corporate Chapter 7 is typically not recommended since corporations do not get a discharge in a Chapter 7. 3. Who filed the Motion for Relief and why? If it was a secured...
    12. D

      save my home - how? ch 7 or ch 13?

      If this is what your realtor actually told you it is a good thing you are questioning the accuracy of such statements. If you file a Chapter 7 before the foreclosure, the Chapter 7 will force the postponement of the loss of the home for a short period of time. A Chapter 7 is not going to help...
    13. D

      Chapter 13 - Disposable Income Exceeds Amount to pay 100%

      If your district interprets 1325(b) as indicated in my post then, so long as the Plan is 100% an upward change in income should not matter. Des.
    14. D

      Chapter 13 - Disposable Income Exceeds Amount to pay 100%

      11 USC 1325(b)(1) states. . . If the trustee or the holder of an allowed unsecured claim objects to the confirmation of the plan, then the court may not approve the plan unless, as of the effective date of the plan— (A) the value of the property to be distributed under the plan on account of...
    15. D

      Chapter 7 support for elderly sick relative

      I did see the original post but did not have a chance to respond until now. OP really does need to sit down and discuss with an attny as there are several issues with the payment to the family member. 1. We all understand the need to support our elderly parents in some way. Been there - done...
    16. D

      Would this be considered preferential payment?

      The Trustee does not care where the $$ comes from. He only cares that it is paid. If you are concerned then have the bank issue a cashier's check. Regardless, make sure you write your case number on the front of the check (memo line). Glad it all worked out. Des.
    17. D

      Would this be considered preferential payment?

      There would be nothing improper with your uncle reaching out to the Trustee's attny if there is one, or the Trustee if there is no attny. Better safe than sorry. Your uncle simply asks for an "open extension" to file an Answer pending approval of the settlement. Make sure that the response...
    18. D

      Would this be considered preferential payment?

      Your welcome - anytime. Des.
    19. D

      Would this be considered preferential payment?

      Gotta love settlement. No one wants to litigate - just too costly. So, here is what should happen. 1. Trustee gives Uncle an open extension pending approval of the settlement between you and the bk estate. Your attny most likely can request an informal open extension by email but, again...
    20. D

      Would this be considered preferential payment?

      The Trustee wants $$$. If $$$ is paid the issue is over. Trustee should dismiss the adversary. Des.

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top