Going into Chapter 7 with a pending workers comp award in southern California...Am I at risk of losing my Workers Comp money?: I have been waiting a long time and settlement appears to be coming. I know that workers comp payments appear to be exempt under either ca system of exemption...but what about a large lump sum? It could be $40-80k. Please help.
Kevin's answer: Workers Compensation settlements can generally be exempted since they are meant to cover some sort of permanent disability, thus compensating you for future loss of wages do to the disability. There are specific exemptions which your attorney will used to protect any settlement that you receive. But as always an attorney will need to look at your complete financial situation to determine which exemptions can be used for your specific case. Take the time to review my website as there is some helpful information there that will assist you in analyzing your situation. Disclaimer: Attorney's response is not intended as legal advice and is intended for informational purposes only. Inquirer should seek the advice of a duly licensed attorney within that jurisdiction. www.cortrightandvalentine.com
im consedring letting my car go back to the bank how long does it take before they start to garnish your wages: i cannot afford to pay for my car any longer im falling further into debt and do not qualify for chapter 7 bankruphtcy
Kevin's answer: It seems that if you can't pay your car payment then your financial situation should be bad enough to qualify for bankruptcy. While you may not qualify for some reason for a chapter 7 there is also the chapter 13 option. Sometimes when you think there are no options you can be wrong, I would highly recommend that you consult with an attorney so all of your financial situation can be evaluated. Very rarely do I meet with a client that we can not establish a plan that can help their situation. Take the time to review my website as there is some helpful information there that will assist you in analyzing your situation. Disclaimer: Attorney's response is not intended as legal advice and is intended for informational purposes only. Inquirer should seek the advice of a duly licensed attorney within that jurisdiction. cortrightandvalentine.com
Is it possible to clear a line of credit and modify a loan when you file bankruptcy?: we have a home loan with bank of america 703,000 and line of credit also with bank of america about 200,000 .we stop pay both of them about a year ago because we had a hard time (we work in real estate and constraction) We did try to modify the loans ,but it was with a scam company we did not recive notice of sale yet ,but the lawyer that we working with now ask us to do bankruptcy and he will modify the first loan and clear the line of credit he said it will work for sure .what do you think about it .please give us your advice . p.s we can pay the new amount that he gave us now,he said that it wil be around 2.5%-3% for the loan after it. Thank You and have a great weekend.
Kevin's answer: A second mortgage can be eliminated or stripped in a chapter 13 bankruptcy. A lawyer would need to review your complete financial situation to see if you qualify as there are limitations. Click the link below and you can read some comprehensive information on chapter 13 bankruptcy that will give you a better idea of what to expect in a chapter 13 bankruptcy. Disclaimer: Attorney's response is not intended as legal advice and is intended for informational purposes only. Inquirer should seek the advice of a duly licensed attorney within that jurisdiction.
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