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despritfreya
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Last Activity: Today, 03:56 PM
Joined: 08-01-2010
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  • 1. Good faith is determined on a case by case basis. There is no "definition" but, if the transaction doesn't pass the "smell test" you will know it when you see it. I know of one case where the trustee and one creditor "colluded" in the sale of an asset via an attempt...
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  • despritfreya
    replied to Sweepstakes Winnings
    Depends upon local procedure. After acquired property is property of the bk estate but, some districts hold that once a Plan is confirmed the rule doesn't apply. You need to discuss with an attny in your area.

    As a side note, should you win the vehicle you will probably have to pay income...
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  • I would imagine that the Trustee would want the property occupied so that it is kept clean and not vandalized. The occupant, however, must be willing to allow the property to be shown by the realtor and must stay out of the realtor's way.

    Des....
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  • The trustee does not care who it is sold to as long as the eventual purchaser has put forth the "highest and best offer". He will sell it to you, your cousin, your best friend, an investor. . . and so on. He does not care. If there is a relationship between the parties, that relationship...
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  • Welcome to bkforum.

    Are you indicating that you filed a bankruptcy within the 8 years prior to your current case and you did not tell this to your attny? How did you answer the question on the bankruptcy Petition that asks if you have filed a prior case within the past 8 year?
    ...
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  • Payment of the mortgage is not required and, in fact, lenders have argued that the rents belong to them and such arguments always fail unless there is a valid assignment of rents.

    Just to illustrate here is a quote from a 2010 Illinois case. This type of ruling is the standard.
    ...
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  • If you want your discharge entered take the class and get the Certificate filed. BUT. . . if there is a strategic reason to delay the entry of the discharge, such would be a reason not to take the class. Why not call your attny first thing Monday morning to confirm it is ok to take the second class?...
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  • I know that Trustees in my area would agree to such a proposal.

    Unless someone objects, the entry of the discharge should be automatic and, by now you should have it. The deadline to object was 60 days after the 341. You are now at 6 months so, if you do not have your discharge one of...
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  • No. The Trustee is not obligated to pay any secured creditor. If payments are not made the creditor gets the automatic stay lifted and takes steps to regain possession of the collateral.



    Unless the mortgage company had a valid and enforceable (under state law) assignment...
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  • Revised post to make it more direct and to the point:




    Unfortunately you are stuck between a rock and a hard place. . .

    1. Both your home and the rental (along with all other property you own) became property of the bk estate the moment you filed. ...
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  • despritfreya
    replied to Proof of Claim Question
    The Trustee is telling creditors that there will be assets in the bk estate and that, if the creditor wants a piece of the pie, the creditor must file a claim. This has nothing to do with the entry of your discharge or the time to object to the discharge.

    Des.
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  • (revised by Des.)

    Benefit. . . let's see.

    You owe $60,000.00 of "dischargeable" taxes. On the day you file, you assert that you have $14,000.00 in assets. The IRS has a lien.

    60,000.00
    - 14,000.00 (lien value - installment agreement once...
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  • A garnishment of wages is not a lien issue. It is a collection (levy) issue. You will still owe the secured portion of the tax and the taxing agency can collect. This is why you should not be screwing with it.

    Once your discharge is entered get the balance paid or enter into an installment...
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  • I have never seen a taxing agency claim the lien for a tax year that was otherwise dischargeable attach to after acquired property.

    Instead of waiting for that garnishment, as soon as the discharge is entered get in touch with the taxing agency, confirm what was abated, and get on an installment...
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  • Discharging taxes: Refer to 11 USC 523(a)(1) and 507(a)(8).

    The first prong of the test is that the income tax must be for a tax year that is at least 3 years old from when it first became due. As of today, taxes that were from 2014 or older are at least 3 years old.

    The second
    ...
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  • My apologies. My paralegal pointed out that I misread the post. I thought you were the spouse of the disgruntled ex. You are the ex.



    So he is doing time for his illegal conduct. Good.



    She was sued because the victim asserts that she has benefitted...
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  • Why, when I began reading the original post, did I say, "must be a disgruntled ex spouse", just to find out by the last sentence that I was correct?

    If the bankruptcy does not impact the ex wife, tell her to get over it. Life is just too short.

    Des.
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  • As I mentioned above, you were not repaying your loans. You were gifting money to your adult children by paying their loans. If you were filing in my district, depending upon the Trustee, yes, this would be a problem. You would "settle" with the Trustee to pay back the conveyance. Since...
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  • despritfreya
    replied to Question About Auto Insurance
    Your Trustee may ask for proof of insurance as the vehicle is technically bankruptcy estate property and he/she needs to make sure that the property is protected as required by law.

    Your problem is not the Trustee, It is the secured lender and your wish to reaffirm. If you want to keep...
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  • Post petition earnings are not property of the bankruptcy estate in a Chapter 7. Should you choose to find additional employment after you file Chapter 7 such should not impact your bankruptcy.

    Des.
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