Bankruptcy And Custody Concerns

Summary

Filing for Chapter 7 bankruptcy can protect you from debt collection through an automatic stay. You may need to reaffirm your car loan to keep your vehicle. If your timeshare has equity, it could be sold unless exempt. Filing for bankruptcy does not typically affect child custody, which is based on the childs best interests. You can submit a motion for debt reallocation in your divorce decree until your youngest child turns 19. Discuss any payments made to your ex-spouse, like the $7,000 settlement, with your bankruptcy attorney to see if they can be addressed. A trustee cannot make your ex-spouse pay a consolidation loan, but you might address it through a motion in your divorce decree.

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Renee from Indiana
Hi Renee! How can I help you today? What's the legal issue you're dealing with?
If my car payment is late, I filed bankruptcy what will happen
Hi Renee! If you've filed for bankruptcy and your car payment is late, here are a few things that could happen:
- Automatic Stay: Once you file for bankruptcy, an automatic stay is placed, stopping creditors from collecting debts.
- Reaffirmation Agreement: You may need to reaffirm your car loan to keep the car.
- Surrender: You might have to surrender the car if you can't keep up with payments.
Have you filed for Chapter * or Chapter * bankruptcy?
Chapter *
Hi Renee! Since you filed for Chapter * bankruptcy, here’s what happens regarding your car payment:
- Automatic Stay: This continues to protect you from debt collection.
- Reaffirmation Agreement: You might need to reaffirm the car loan to keep the car.
- Surrender: If you can't keep up with payments, you may need to surrender the car.
Have you consulted with a bankruptcy attorney about your options?
Will I be given the option to get current
Hi Renee! Yes, you may have the option to get current on your car payments. It's called a reaffirmation agreement, where you agree to continue making payments on your car loan. This allows you to keep the car. Have you spoken with your lender about this option?
Not yet.
Hi Renee! I'd recommend contacting your lender to discuss the reaffirmation agreement and the possibility of getting current on your payments. They can provide specific information on how to proceed. If you need further assistance, consulting a bankruptcy attorney could be very beneficial.
Would you like more information on how to contact a bankruptcy attorney?
What happens to a timeshare with equity in it when I file bankruptcy
Hi Renee! When you file for Chapter * bankruptcy, what happens to your timeshare with equity depends on a few factors:
- If the timeshare is considered non-exempt, the trustee may sell it to pay your creditors.
- If it's exempt, you may be able to keep it.
Have you listed your timeshare in your bankruptcy filing?
Plan on it. It is a joint account that my ex spouse was supposed to refinance and remove my name over 4yrs ago and he has not
Hi Renee! Given that your ex-spouse hasn't refinanced the timeshare and removed your name, and it's a joint account, it could complicate your bankruptcy proceedings. You might need to address this issue with a bankruptcy attorney to explore your options.
Have you discussed this matter with your ex-spouse or attempted any legal action to enforce the refinancing agreement?
I have pursued legal action against ex spouse. He has filed the mortgage interest on his taxes the last 3years as well, claiming full amount which I believe is not legal
Case Rating: *
Hi Renee! Here are some key points regarding your situation:
- Mortgage Interest Deduction: Generally, only the person who pays the mortgage interest can claim the deduction. If your ex-spouse claimed the full amount but both of you are liable, it might indeed be incorrect.
- Legal Action: Since you've pursued legal action, ensure you provide evidence of the agreement for refinancing and any communications with your ex-spouse.
Have you consulted a tax attorney or accountant regarding the tax issue?
I have not consulted a tax attorney
Hi Renee! Given that you have multiple legal concerns, consulting a tax attorney could be very beneficial, especially regarding the mortgage interest deduction and ensuring compliance with tax laws. Additionally, since you have pursued legal action against your ex-spouse, it would be helpful to have legal representation.
Would you like information on how to contact a tax attorney?
Planned on addressing with bankruptcy attorney
Renee, since you are planning to address these issues with your bankruptcy attorney, that’s a good step. Here are a few key points to discuss with them:
- Reaffirmation Agreement for Car Loan: How to get current on your car payments.
- Timeshare: The impact of equity in your timeshare and its listing in bankruptcy.
- Legal Action Against Ex-Spouse: Issues related to the refinancing agreement and tax implications of the mortgage interest deduction.
Would you like more specific information on how to contact a bankruptcy or tax attorney?
Can ex spouse legally claim the entire amount ?
Hey Renee!
Your ex-spouse may not legally claim the entire mortgage interest deduction if both of you are liable for the mortgage. Generally, only the person who pays the mortgage interest can claim the deduction.
Have you documented the payments and your liability?
We both paid half of the payments until *, when I stopped paying my half because he had taken the liberty to use all available time until *. I was not going to pay half of his vacations.
Hey Renee! Based on what you've shared, it seems like you have a strong case to discuss with a bankruptcy or tax attorney. They can help you navigate both the refinancing issue with your ex-spouse and the tax implications.
Would you like assistance in finding contact information for a bankruptcy or tax attorney?
No, I have retained an attorney and have appointment to file on Thursday the 26th
Renee, it sounds like you're on the right track by retaining an attorney and setting up an appointment. Make sure to discuss all the issues you've mentioned, including the car payment, timeshare, and tax implications with your attorney. If you have any other questions or need further guidance, feel free to ask!
Will my ex take custody of my children because I’m filing bankruptcy
Hey Renee! Filing for bankruptcy alone is not typically a reason to lose custody of your children. Custody decisions are based on the best interests of the child, not the financial status of a parent. Is there any other concern or specific situation that might affect your custody arrangement?
I was told by an attorney that my divorce and child support is all in one decree and that until my youngest child turns 19yr old, modifications can occur. Does this mean that I could submit a motion to have debt reallocated?
Hey Renee! Since your divorce and child support are included in one decree, it's possible to submit a motion for debt reallocation until your youngest child turns *. It’s best to consult with your family law attorney to discuss your specific options and the likelihood of success.
Are there any other concerns or details you want to discuss?
I paid my ex *,* to settle the marital portion of the divorce in *. Can bankruptcy attorney seek ex spouse to repay that ?
Hey Renee! In general, a bankruptcy attorney may seek to recover certain payments made to an ex-spouse if they are deemed a preferential transfer or fraudulent conveyance. However, it's crucial to discuss this specific payment with your bankruptcy attorney to determine if it can be addressed in your bankruptcy case.
Have you already discussed this $*,* payment with your bankruptcy attorney?
Not specifically
Hey Renee! It's great that you have an appointment with your bankruptcy attorney. Make sure to bring up the $*,* payment to your ex-spouse during your meeting. They can provide specific guidance on whether it can be addressed in your bankruptcy case.
Do you have any other questions or concerns?
One of the creditors I will be listing is a consolidation loan taken out to consolidate his debt when he quit his job. Can trustee make ex spouse pay that?
Hey Renee! Generally, a trustee in a bankruptcy case cannot directly make an ex-spouse pay a consolidation loan you took out. However, you might be able to address this issue through a motion for debt reallocation in your divorce decree. Have you discussed this specific loan with your attorney?