How Much Will I Have to Pay Monthly in a Chapter 13 Bankruptcy Plan?

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The amount of a Chapter 13 bankruptcy plan payment is generally a person’s monthly ‘disposable income.’  This figure can be arrived at by looking at the amounts set forth at the bottom of Schedule I and Schedule J: monthly income, less monthly allowable expenses, equals ‘disposable income.’ These calculations can be determined by properly using … Read more

If I Gather Information and Prepare a Legal Form for Another, Am I Practicing Law Without a License?

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The definition of unauthorized practice of law varies from state to state, so providing a specific answer is difficult.  But generally (and note that we indicate generally, as in not a firm rule), merely gathering information and forms and typing a document at the direction of another, without substantive input, would not be considered the … Read more

If I Own a Home in Foreclosure and Wish to File Bankruptcy, Must I Stay in that Home to File?

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There is no obligation under federal bankruptcy law to remain in a home you own in order to file bankruptcy, whether that home is in foreclosure or not.  You are permitted to move to a different jurisdiction and file your bankruptcy case there. You may also move to a different residence within the same Bankruptcy Court jurisdiction.

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How is a Mortgage Handled when a Quitclaim Deed is Used to Transfer Property Ownership?

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Property can be transferred by way of Quitclaim Deed to another person, regardless of whether one or more mortgages exist on the property.  However, there are several issues of which the both the Grantor (the person selling or transferring the property) and the Grantee (the buyer or person taking title to the property) must be aware.

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Do Full Disclosure of Assets in a Premarital Agreement Need to be in Writing?

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“Full disclosure” in a prenuptial agreement is just that: a complete listing and description of one’s assets and liabilities, shown or provided to the other party so that they are fully aware of the financial condition of the other party.

Standard Legal believes that to be binding, such agreement must be in writing. Absent such writing, it would be difficult to determine how one could prove that “full disclosure” was made.

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