asset chapter 7 question
Posted: Tue Aug 13, 2013 7:19 pm
Well, there is another property deeded to the son with monies paid and an
assumption of mortgage. However, the mortgage debt remains in debtor's
names as son cannot refinance. This alone throws debtors over debt limit.
Thanks, Christine
On Tue, Aug 13, 2013 at 5:32 PM, Giovanni Orantes wrote:
> **
>
>
> Is there any ability to characterize any debt as unliquidated and/or
> contingent so that it wouldn't count toward the debt limits to bring you
> within the limits? Otherwise, perhaps you can get a junior lender -- of
> course, that is not easy to do in our current economic environment, but I
> thought I'd ask. What do you with the proceeds from the loan is another
> question.
>
>
> --
> Giovanni Orantes, Esq.
> Certified Bankruptcy Specialist*
> Orantes Law Firm, P.C.
> 3435 Wilshire Blvd. Suite 2920
> Los Angeles, CA 90010
> Tel: (213) 389-4362
> Fax: (877) 789-5776
> e-mail: go@gobklaw.com
> website: www.gobklaw.com
>
> *Board Certified - Business Bankruptcy Law - American Board of
> Certification
> *Board Certified - Consumer Bankruptcy Law - American Board of
> Certification
>
>
>
Christine A. Wilton, Esq.
Law Office of Christine A. Wilton
*Our New Office Location:
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Garden Grove, CA 92841*
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Well, there is another property deeded to the son with monies paid and an assumption of mortgage. However, the mortgage debt remains in debtor's names as son cannot refinance. This alone throws debtors over debt limit.
Thanks, ChristineOn Tue, Aug 13, 2013 at 5:32 PM, Giovanni Orantes <go@gobklaw.com> wrote:
Is there any ability to characterize any debt as unliquidated and/or contingent so that it wouldn't count toward the debt limits to bring you within the limits? Otherwise, perhaps you can get a junior lender -- of course, that is not easy to do in our current economic environment, but I thought I'd ask. What do you with the proceeds from the loan is another question.
-- Giovanni Orantes, Esq.Certified Bankruptcy Specialist* Orantes Law Firm, P.C.3435 Wilshire Blvd. Suite 2920Los Angeles, CA 90010Tel: (213) 389-4362
Fax: (877) 789-5776
e-mail: go@gobklaw.comwebsite: www.gobklaw.com*Board Certified - Business Bankruptcy Law - American Board of Certification
*Board Certified - Consumer Bankruptcy Law - American Board of Certification
-- Christine A. Wilton, Esq.Law Office of Christine A. WiltonOur New Office Location:12650 Hoover StreetGarden Grove, CA 92841Mailing:
4067 Hardwick Street, Suite 335Lakewood, CA 90712Office: 877-631-2220Cell: 562-824-7563Fax: 1-636-212-7078Email:
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