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We cannot answer the above question. You need to call the creditor to get an answer. As to the creditor telling you that you owe nothing. . . did you get that in writing when you turned in the vehicle? If not you have a problem. You need to ask for a full accounting (in writing) of the...

Now, while it is true that prosecutors dislike laws that make such things a crime, such things are not just civil matters. In addition to the above post that quotes the Texas statute, OP might want to take a gander at a very recent news cast in my state dealing with this type of issue. . ...

It is a crime in Texas to hinder a secured creditor’s right to regain possession of its collateral upon default. Now, whether or not the lender will proceed under the below cited statute is a question. It is also a question as to whether or not proceeding under such statute can reach into...

Unless you need the cash now and don’t mind the penalty, leave it. Your state retirement plan is protected from your creditors. If you decide to cash out you will need to find out how much of that cash you can have lying around when you file bk. This will depend upon the allowed exemptions. If...

A Motion to Abandon, if granted, removes the property from the bk estate. Typically this type of motion is filed by the lien holder. If it was filed by the Trustee it should be called a "notice of abandonment". It is filed because whoever filed it is telling the Court and other interested...

This may end up as a duplicate post. This web site has issues with "members" trying to sign in. Anyway. . . Assuming you were put on the title for estate planning purposes only, you have a legal interest in the property BUT not an equitable interest. Under 11 USC 541(d) a Trustee acquires...

Betty is correct. You are responsible for all HOA fees/dues/assessments that come due from the day you filed bk until the property is out of your name, typically be selling it, doing a DIL with the lender or losing it to a foreclosure. If you do not pay the HOA, the HOA will sue you...

On the unsecured portion only yes, but you have to pay the unsecured portion in full so the only savings is the interest accumulation - and, you may have to pay the unsecured portion over a much shorter time period. Again, while it appears you understand some of these issues, you really need an...

What would apply? The 1111(b)? Answer - it applies prior to approval of a Disclosure Statement and if the election is taken the creditor is treated as fully secured - you will be pretty much screwed. Better get an attny to fully understand this issue. Des.

You will have to file a Complaint or Motion (depending upon the rules of your district) under 11 USC 506, properly serve it, wait the required time for a answer/reply, and if no answer/reply submit the judgment or order. If there is an answer/reply you will have to be prepared to litigate the...

You don't just ask for a valuation hearing. What are you trying to do. . . a cram down for real property? Give details. Des.

While it can be difficult to discharge student loans in bk, it is not impossible and the Suze Orman attitude that it cannot be done is just garbage. Below are two links to info on such issues. The first is the forum link and the second is a case in point (although the discharge was partial)...

In general, members of a LLC or shareholders in a corporation are not personally liable for the entity’s debt unless they either co-signed or gave a personal guarantee. That is why you have “entities”. If you are correct that only one member of the LLC co-signed (and no other member signed a...

Assuming the original creditor sold or transferred the note/obligation you signed to a Junk Debt Buyer (collector), you now owe the $$ to the JDB. You have no obligation to communicate with the JDB but at some point the JDB will sue you, get a judgment and then collect upon the judgment. This...

Yes. 1st mortgage - secured $131,000; unsecured $0.00 2nd mortgage - secured $14,000; unsecured $11,000 3rd mortgage - secured $0.00; unsecured $7,000 You should claim the full value of the exemption even though there is no equity in the home. If your state has a $14k exemption then...

I need to chime in here. One should never, ever, ever commingle funds with Social Security. SS is exempt, exempt, exempt (except from the IRS if you owe back taxes) however that exemption ends if the funds are commingled. Once commingled, tracing becomes a huge problem as you cannot tell...

Sorry but this is 98% garbage. 1. A secured creditor does not have to appear at the 341 meeting to “claim” its collateral. 2. A Trustee doesn’t discharge anything “at the end of the meeting” by bringing “down the gavel”. All he does is conduct a 10 minute no-big-deal hearing and then...

Then you really didn't transfer anything since you had no authority to transfer property of the bk estate. Confirm with your attny before you do anything. If this situation happened to my client my instructions would be: 1. Reverse the "transfer". 2. Amend Schedule B to show bare legal...

Just stop. You are not going to jail. You will not be charged with a crime. You do not need to have this issue eat away at you and you certainly DO NOT need to contact a criminal attny. I have been a bk attny for over 20 years and I can tell you that the vehicle issue raised in your case...

You do nothing but let your attny fix it. This is not a big deal and it IS NOT criminal. Your attny is going to amend Question 10 in the Statement of Financial Affairs to disclose the transfer. The disclosure should indicate that you were on title to the vehicle solely because it was...