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Dear Bankruptcy Adviser,I filed for Chapter 7. I received a deficiency notice to file a Chapter 7 Individual Debtor's Statement of Intention, but I do not have any secured debt. Do I still have to file the statement?--SharonDear Sharon, The quick answer is yes. You must file a Statement of Intention along with the rest of the petition documents. That being said, you may have to fix just this one deficiency and you will likely be in compliance.While you may believe it is not necessary because that document does not apply to your case, the bankruptcy system is not set up to determine which documents apply to which case. The system tries to be uniform and require each bankruptcy filer to file the same documents.Based on your question, it is obvious you filed on your own. While you are allowed to file without an attorney, you are held to the same standards. That means you must comply with all the same requirements: File a completed petition and schedules, disclose all assets, provide docum...
Dear Bankruptcy Adviser,I have debt as an individual. I also have a trust that has assets and no liabilities. My wife is the trustee. If I file bankruptcy as an indi...
What if your life insurance company kicks the bucket before you do?The odds of that occurring are historically very slim, and the chances of a policyholder "losi...
Dear Bankruptcy Adviser,I have already filed Chapter 7 and have debts discharged. I've included my home in the bankruptcy. I received a letter from the lender's atto...
Dear Bankruptcy Adviser, I filed a Chapter 7 bankruptcy that was discharged in 2009. I was paying my second mortgage loan to the bank for four years without a reaffi...
You knew it would happen.
Dear Bankruptcy Adviser, Don't you have to file a Chapter 13 bankruptcy when you have a home? You are not eligible for a Chapter 7, correct? -GilDear Gil, This is a ...
Sequester . God, I wish I'd never heard that damn word.What started out as a doomsday provision to ensure that a congressional supercommittee got our skyrocketing fe...
Dear Bankruptcy Adviser,My mother-in-law recently passed away. Several years prior to her death, she sold a piece of real estate property and took back a recorded mo...
The former head of a now-closed peanut butter corporation and several of its employees have been charged with fraud in connection with a salmonella outbreak and rela...
Dear Bankruptcy Adviser,I'm in the process of filing bankruptcy. However, my husband receives Social Security and workers' compensation. My mother recently passed aw...
People who need help getting out from under debt have a number of choices, each with some advantages and pitfalls. Here's a broad overview.Nonprofit credit counselin...
Dear Driving for Dollars,I am behind on my car loan and other bills. I'm worried my car will be repossessed, and then I'll have no way to get to work and I'll get fu...
That's it, you're done. After struggling to pay your debts, you're ready to consider bankruptcy. It's time to contact a bankruptcy lawyer, but which one? Some adver...
For hundreds of thousands of Americans each year, filing for bankruptcy doesn't mean erasing most debts in one fell swoop.Instead, the process can take up to five ye...
Dear Bankruptcy Adviser,I filed Chapter 7, and my debts will be discharged within days. Included was a home equity line of credit. The home was awarded to my ex-husb...
Ledgemont Capital Group LLC, a boutique investment bank, filed for Chapter 7 bankruptcy to liquidate its assets, which it estimated at between $10 million and $50 mi...
CPI Corp. (CPIC), operator of the portrait studios inside Sears Holdings Corp. (SHLD) and Wal-Mart Inc. (WMT) stores, filed for bankruptcy and will liquidate its rem...
Dear Opening Credits,I have an amount that went to collection more than seven years ago, and was also discharged in bankruptcy over three years ago. Does this credit...
What if your life insurance company kicks the bucket before you do?The odds of that occurring are historically very slim, and the chances of a policyholder "losing i...
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