楊清泉律師專欄：HOMEOWNER 10 MONTHS BEHIND ON MORTGAGE FILES FOR CHAPTER 13
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HOMEOWNER 10 MONTHS BEHIND ON MORTGAGE FILES FOR CHAPTER 13;RETIRED MILITARY FILES CHAPTER 7 FOR $40K CREDIT CARDS;CLIENT USES CHAPTER 13 FOR HOA DEFAULT（Part 2）
CLIENT NO. 2
Client is 40. She joined the Army when she was 18 and was sent all over the world to protect our great country. She recently retired from the military and is not working. She has been looking for a job in S. CA for the last 6 months but has not gotten any offers yet commensurate to her skills and talent. She received an out of state offer but prefers to live here. She has $30K of credit card debt accumulated over the last 15 years. She’s been paying about $1K a month for the last 10 years to keep the $30K current. So, she has paid $120K but still owes $30K! Right now, she has military pension of about $1,800 monthly. While that is reasonable pension enough to pay $1,000 rent and a car payment of $500, there’s only $300 left. That means that she no longer has income to pay $1K to the credit cards to keep them current. I mean, even her food alone will cost $300. What about car insurance and gas? She decides to file Chapter 7 to wipe out the $30K of credit cards, and move in with her parents to save on rent. That way she can save almost all of her pension while she figures out what to do next in her life.
CLIENT NO. 3
Client is 58 years old. His wife works. He lost his job two years ago and has not been able to find new employment. Unemployment benefits have ended. They owe $12K of unpaid homeowner’s association fees. These are not dischargeable in a Chapter 7 because they are excepted from discharge. Association has filed a notice of levy with intent to sell the house. This is the same as foreclosure because the Association can levy your house for past due fees. A chapter 7 will not help because association fees cannot be discharged. Client files for Chapter 13 to stop the foreclosure. Her plan payment will be $200 a month to cure the unpaid fees of $12K.
“THE LORD IS GOOD, A REFUGE IN TIMES OF TROUBLE, HE CARES FOR THOSE WHO TRUST IN HIM.” – Nahum 1:17.
Lawrence Bautista Yang is a graduate of Georgetown University Law Center and has been in law practice for thirty years. He specializes in bankruptcy, business and civil litigation and has handled more than five thousand successful bankruptcy cases in California. He speaks Mandarin and Fujien and looks forward to discussing your case with you personally. Please call (626) 284-1142 for an appointment at 1000 S Fremont Ave, MAILSTOP 58, Building A-1 SUITE 1125, Alhambra, CA 91803 OR at 20274 Carrey Road, Walnut, CA 91789.
HOMEOWNER 10 MONTHS BEHIND ON MORTGAGE FILES FOR CHAPTER 13;RETIRED MILITARY FILES CHAPTER 7 FOR $40K CREDIT CARDS;CLIENT USES CHAPTER 13 FOR HOA DEFAULT（Part 2）
CLIENT NO. 2
Client is 40. She joined the Army when she was 18 and was sent all over the world to protect our great country. She recently retired from the military and is not working. She has been looking for a job in S. CA for the last 6 months but has not gotten any offers yet commensurate to her skills and talent. She received an out of state offer but prefers to live here. She has $30K of credit card debt accumulated over the last 15 years. She’s been paying about $1K a month for the last 10 years to keep the $30K current. So, she has paid $120K but still owes $30K! Right now, she has military pension of about $1,800 monthly. While that is reasonable pension enough to pay $1,000 rent and a car payment of $500, there’s only $300 left. That means that she no longer has income to pay $1K to the credit cards to keep them current. I mean, even her food alone will cost $300. What about car insurance and gas? She decides to file Chapter 7 to wipe out the $30K of credit cards, and move in with her parents to save on rent. That way she can save almost all of her pension while she figures out what to do next in her life.
CLIENT NO. 3
Client is 58 years old. His wife works. He lost his job two years ago and has not been able to find new employment. Unemployment benefits have ended. They owe $12K of unpaid homeowner’s association fees. These are not dischargeable in a Chapter 7 because they are excepted from discharge. Association has filed a notice of levy with intent to sell the house. This is the same as foreclosure because the Association can levy your house for past due fees. A chapter 7 will not help because association fees cannot be discharged. Client files for Chapter 13 to stop the foreclosure. Her plan payment will be $200 a month to cure the unpaid fees of $12K.
“THE LORD IS GOOD, A REFUGE IN TIMES OF TROUBLE, HE CARES FOR THOSE WHO TRUST IN HIM.” – Nahum 1:17.
Lawrence Bautista Yang is a graduate of Georgetown University Law Center and has been in law practice for thirty years. He specializes in bankruptcy, business and civil litigation and has handled more than five thousand successful bankruptcy cases in California. He speaks Mandarin and Fujien and looks forward to discussing your case with you personally. Please call (626) 284-1142 for an appointment at 1000 S Fremont Ave, MAILSTOP 58, Building A-1 SUITE 1125, Alhambra, CA 91803 OR at 20274 Carrey Road, Walnut, CA 91789.
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