Guys Chapter 7 here!

[philslyn]

Guys I have 2 big problems and i will be honest.. i rily nid ur help! Or shud i say I really need everybodys help..
Its ok that ur not a lawyer , But base on experience and knowloedge of everybody im sure i will get the idea.

Problem no.1

Married Couple ( taxes Joint) No house like real estate property.
But has a 70's model mobile home under the couple's name and daughter's name & her husband on it.
Husband no job right now, Wife manager in a restaurant
earns about 36k a year. they own 3 cars.
1 car is a loan ( 400 a month car payment)
2 cars are full paid paid. Value for both of them of 2 cars ( 5k)
CC wife got 24k husband got some few
4 of her credit cards are joined with her husband.
She gets the credit as primary the husband was secondary.
as for the husband he has his own too. but never been primary holder on the credit card she has.
All kids are married. except for one who is not but doesnt have enough money already due to his child support.
question the husband dont want to file bk. but i believe since they joint taxes and some are both of their names like their other CC. and husband got 2 car
Will they take the MObile home from them?
Will they the 2cars that was owned by her husband..?
does the husband has to file BK too..??
can he not file with it?


Second.
A friend of mine has 4 houses. he cant make payments withe the 3 other houses. but wiling to keep the house he is living at which is 1 million but now the value is HAlf! he has 2 cars also.
HOw can he walk out with the other 3 houses. and keep the last house for him and family to live without getting trouble with the other 3. and not being force to sell this other house to pay the creditors. im sure they wil file a motion to cancel the automatic stay. any help wil be appreciated
THank U guys!
Im from CA
meaning of undisputed
contingent
uncontigent

[JRScott]

Guys I have 2 big problems and i will be honest.. i rily nid ur help! Or shud i say I really need everybodys help..
Its ok that ur not a lawyer , But base on experience and knowloedge of everybody im sure i will get the idea.

Problem no.1

Married Couple ( taxes Joint) No house like real estate property.
But has a 70's model mobile home under the couple's name and daughter's name & her husband on it.
Husband no job right now, Wife manager in a restaurant
earns about 36k a year. they own 3 cars.
1 car is a loan ( 400 a month car payment)
2 cars are full paid paid. Value for both of them of 2 cars ( 5k)
CC wife got 24k husband got some few
4 of her credit cards are joined with her husband.
She gets the credit as primary the husband was secondary.
as for the husband he has his own too. but never been primary holder on the credit card she has.
All kids are married. except for one who is not but doesnt have enough money already due to his child support.
question the husband dont want to file bk. but i believe since they joint taxes and some are both of their names like their other CC. and husband got 2 car
Will they take the MObile home from them?
Will they the 2cars that was owned by her husband..?
does the husband has to file BK too..??
can he not file with it?

They can file singly however there is some impact.

On any joint account it will hit his credit as well as hers. Where she in the past was primary account holder and he is a co signer for it then the debt would transfer to him after she files.

The mobile home if it has 4 people on the deed you'd then take the equity and divide by 4, that's her responsibility and she'll need to be able to exempt that amount in her petition in order to keep the trailer.

It largely depends whether the cars are titled in both their names or not on the cars.

Second.
A friend of mine has 4 houses. he cant make payments withe the 3 other houses. but wiling to keep the house he is living at which is 1 million but now the value is HAlf! he has 2 cars also.
HOw can he walk out with the other 3 houses. and keep the last house for him and family to live without getting trouble with the other 3. and not being force to sell this other house to pay the creditors. im sure they wil file a motion to cancel the automatic stay. any help wil be appreciated
THank U guys!
Im from CA
meaning of undisputed
contingent
uncontigent

If the house he wants to keep has no equity in it he should be able to do so easily in a bankruptcy. However if it has equity he must be able to exempt the equity in the property in a bankruptcy in order to keep it.

He probably should try short selling if he hasn't so far on the 3 properties.

[LegalBeagel]

Are you

Are you giving legal advice to other people, or advising them on their situation? You should advise them to come to this board directly if they can, or tell them to see an attorney, or at least read over a NOLO book (available in public library, make sure you get the most recent copy you can find). Good luck.

[BK2008]

Are you giving legal advice to other people, or advising them on their situation? You should advise them to come to this board directly if they can, or tell them to see an attorney, or at least read over a NOLO book (available in public library, make sure you get the most recent copy you can find). Good luck.

Apparently, Philslyn has some sort of a 'job' helping people with BK. Not sure if she is a paralegal or?? One of her first posts:

http://www.bkforum.com/showthread.php?t=29699

I was wondering the same thing, seemed sort of odd to me.

[philslyn]

Wow I am embarrassed to tell the truth! I do work at a law office
we do Bk and criminal, and immigration.
However im new to Bk. i was just told to learn this things. Theres only one Girl who knows the bk except for the lawyer. But she wont teach me and have me learn everything ( and hand me cases . I know all the schedules, and exhibit. and the petition , credit counseling and means test. Its just I have this 2 cases that in not sure the result. And these are my friends. that im doing bk i wanna make sure they wont lose the house and the cars. coz the main point is to just clear the CC Coz she wont make it to consolidation as she wil be still stuck with the debts. I just wanna gather as much idea as i can get and learn and learn so i can show that Lady that i can do it without her..
she seems to feel i am gonna replace her. which is not true coz i wud prefer the immigration , its just i was asked to do it with her for the mean time since people are filing Bk. we open till 7pm she comes at 9-2 it wil be wise if i wil stay after her shift and be able to take clients, and answer questions on the phone and do the same when shes gone , its like take turns. But she hates me for doing her job as well. But i deal with it.
thats the only reason why.. I wanna impress the lawyer that i do research and study. and make a point to her that i can do it without her cooperation.
I have this Nolo book at work, and the other book that u cant buy except u attend the seminar.