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Your student loans are in default your attorney says if you file bankruptcy you will still receive your federal income taxes is this true?
While in general you should always follow your attorney's advice, you may wish a second opinion from another attorney this time.
A bankruptcy does not get you out of student loans. If you were going to lose your income tax refund to the student loan people, then even after bankruptcy you still will.
What else can I help you with?
Can you receive a lump sum pension after a chapter 7 bankruptcy?
If you exempted it in full, yes. If you did not exempt it, and you knew before you filed that you would be getting it, you have committed a fraud on the court and perjury. If you were entitled to receive it before or within 180 days after the bankruptcy (chapter 7) was closed or you got your discharge, it goes to the trustee. If you did not know you were entitled to or going to receive this money before or during or within 180 days after the discharge, and you got it more than 180 days after discharge, yes, you can. Some pensions are exempt under state or federal law, so consult a local attorney if you are not sure.
Can you receive a tax refund this year if you filed bankruptcy last year?
You need to discuss this with your attorney. Once you receive your tax refund, it's part of your personal assets that could be seized to pay creditors. If you file bankruptcy before you get your taxes then the government will keep your tax refund and put it towards your debt. The bankruptcy court has 1 year to go back and open your case even after your bankruptcy has been discharged. If you can prove that the money is needed/used for catching up rent or other nessacery bills they will not take it.
What happens to your severance in chapter7bankruptcy?
In Chapter 7 bankruptcy, severance pay is generally treated as part of your income and may be subject to the bankruptcy process. If you receive severance pay after filing for bankruptcy, it could be considered an asset that may be used to pay off creditors. However, if you received the severance before filing, it typically becomes part of your estate, and the bankruptcy trustee may use it to satisfy debts. It's essential to consult a bankruptcy attorney for specific guidance related to your situation.
Will a closed credit card account receive notice of a bankruptcy filing?
Only those creditors you list on your bankruptcy schedules / creditor matrix (list) will receive actual notice.
When should a stockholder receive payment if a company declares bankruptcy?
A stockholder should receive payment only after the claims of the creditors have been paid off if that company declares bankruptcy.
If you filed for bankruptcy with an attorney how can you check to make sure they did it?
Attorneys are presumed to be officers of the court and are bound legally and ethically to represent their clients best interest. The majority of which do so, even though the general public opinion seems to be otherwise. That being noted, when you retain an attorney for bankruptcy, he/she will file the required documents in either federal or state bankruptcy court. You will receive notice when the filing has been entered along with other pertinent documents and information including the date for the creditor's meeting, which you must attend. If you have concerns about when or if the filing has been made, you should contact your attorney.
Are outstanding attorney fees dischargeable?
AnswerAttorneys fees do not receive any special treatment and are dischargeable in bankruptcy. They may receive special treatment where they were awarded as part of a divorce or separation agreement. If the attorneys fees are found to be in the nature of a support obligation then they will not be discharged as part of the bankruptcy.
Can you receive money you've already been awarded once you have defaulted on a loan?
In the USA, if your Federal Student Loans are in default, then you are not eligible to receive any additional Federal Student Aid. If you need help getting out of default and getting off of the tax offset list, click on my profile, StudentLoaner, below.
Where can you find the debtor's exemption that protect your assets if you live in Virginai?
By no means are all your assets exempt. Some may be: These Virginia bankruptcy exemptions can be used to protect up to $5,000 in equity in your house plus $500 for each dependent. Additionally, rents and profits of exempt property are 100% exempt. Your U.S. federal bankruptcy attorney can use these Virginia bankruptcy exemptions to protect $2,000 in value of any one motor vehicle listed in your U.S. federal bankruptcy. Additionally, if you file U.S. federal bankruptcy with a spouse you can use both vehicle exemptions to protect up to $4,000 in vehicle equity as long as both you and your spouse are on the title to the car. These Virginia bankruptcy exemptions allows your U.S. federal bankruptcy attorney to protect $5,000 in equity in various personal items such as your clothing and personal heirlooms. Under these Virginia bankruptcy exemptions a U.S. federal bankruptcy attorney can protect a payment under a life insurance contract that insured the life of an individual of whom you were a dependent, to the extent reasonably necessary for your support or the support of your dependent(s). Your U.S. federal bankruptcy attorneys can prevent creditors from touching up to $17,500 of the proceeds of your hard-earned retirement plan. They can exempt anything from stock bonuses, pensions, profit sharing plans and annuities. These are useful Virginia bankruptcy exemptions that can be used to protect up to $10,000 of the tools you use in your profession. For example, shears, scissors and combs are the tools of a hairdresser, as are wrenches and hammers for a mechanic and carpenter. Your U.S. federal bankruptcy attorneys can protect all of your unemployment compensation from creditors' reach. However, past due child support may still be deducted from the income of people receiving public assistance. These Virginia bankruptcy exemptions can be used to protect 100% of compensation you receive under Virginia workers' compensation laws. Your U.S. federal bankruptcy attorneys can protect both 100% of your wages and 100% of the award you receive to compensate you for any permanent disability. In Virginia, workers' compensation cases are 100% exempt. If you are injured while working then that is money you deserve and creditors will be prevented from reaching those funds.
What should you do if you receive a monetary award from a class action lawsuit after your bankruptcy hearing and prior to discharge?
Notify your attorney. If its a reasonable amount of money, get an attorney if you don't have one. Sometimes they can get you some wiggle room. If you don't want an attorney, contact your Trustee, who will most likely demand the (or most of the) money. Do not just ignore it. You can get hit with fraud under Federal Law. It is virtually always your absolute obligation under the terms of your bankruptcy, and the promises you made to the court and judge, to report it to the trustee one way or another. (It probably should have been on your schedules as an at least possible asset).
Can you receive money as a gift after filing chapter 13?
Yes, you can receive money as a gift after filing for Chapter 13 bankruptcy. However, you must report this gift to the bankruptcy court and your trustee, as it could affect your repayment plan. The trustee may consider the gift as disposable income, which could lead to adjustments in your plan. It's advisable to consult with your bankruptcy attorney to understand the implications fully.
If you are say a year into a 60 month chapter 13 bankruptcy and you receive a small inheritance not enough to pay debts what is your obligation?
Your obligation is to let your attorney and/or bankruptcy trustee know about this. They will decide if the asset needs to be divided among creditors or included in your payments.
Can a non-profit file bankruptcy?
If it is a corporation, it can. Like all corporations, it cannot receive a discharge under Chapter 7. Most bankruptcy lawyers, if the corporation will not benefit from a Chapter 11, would probably not recommend bankruptcy for the corporation, but the organization should discuss this with an experienced local bankruptcy attorney.
How an Attorney Could Help You When You are Going Through Bankruptcy or Debt Consolidation?
The poor economy over the past few years has affected many people in many different ways. For some, it has led to job loss and decreased income, which has led them to need to rely on credit cards and other forms of unsecured debt to get by. While this may have been a temporary solution, it could lead to a large accumulation of high interest debt. To get out of debt, many people are considering either a debt consolidation plan or even bankruptcy. Prior to accepting either of those plans, a person should hire a debt and bankruptcy attorney. The first way that a debt and bankruptcy attorney could help you would be by providing you a free consultation. The attorney will discuss with you your particular situation and how realistic it would be for you to get out of debt without a debt consolidation or bankruptcy plan. It getting out of debt does not seem reasonable, the attorney will explain to you all of your options regarding bankruptcy or debt consolidation. This will include the benefits you will receive, as well as how it could impact you in the future. The second first way that a debt and bankruptcy attorney could help you would be by handling all of the paperwork necessary. When filing for bankruptcy, all people are subject to a lot of paperwork that is required to be filled out. This paperwork is tedious to fill out, and knowing where it needs to be submitted can be confusing. The attorney will handle all of this for you, and will ensure that the right entities receive your bankruptcy petition. Once you have filed for bankruptcy, the next way that the attorney could help you would be by representing you in any legal proceedings. Depending on your situation, each creditor may want to meet with you to discuss the liquidation of your assets and try to find a way for you to repay the debt. The attorney will handle this process for you and keep your best interests in mind to ensure that you get the best deal possible. Finally, the bankruptcy attorney could help you by ensuring the bankruptcy was handled appropriately. A few weeks following the finalization of the proceedings, the attorney will check your credit report to ensure that all debts have been cleared. If some haven’t been cleared, the attorney will continue to contact the appropriate creditor until they have been.
Who pays the bankruptcy trustee's lawyer?
In a bankruptcy case, the bankruptcy trustee's lawyer is typically paid from the assets of the bankruptcy estate. This means that the funds are drawn from the money and property available in the estate, which may include proceeds from liquidated assets. If the estate does not have sufficient funds, the trustee's attorney may not receive payment for their services. In some cases, the debtor may also be required to pay certain fees, depending on the type of bankruptcy filed.
How much time will one receive with three breaking and enterings?
Every case is different. If you need information on a state or federal criminal case, seek information from your attorney or from an attorney at your local public defender's office.
Can you receive a lump sum pension after a chapter 7 bankruptcy?
If you exempted it in full, yes. If you did not exempt it, and you knew before you filed that you would be getting it, you have committed a fraud on the court and perjury. If you were entitled to receive it before or within 180 days after the bankruptcy (chapter 7) was closed or you got your discharge, it goes to the trustee. If you did not know you were entitled to or going to receive this money before or during or within 180 days after the discharge, and you got it more than 180 days after discharge, yes, you can. Some pensions are exempt under state or federal law, so consult a local attorney if you are not sure.
