In the event of a lump sum retroactive Social Security Disability payment, with continuing monthly payments, I am curious how that plays into BK. Outside of that money, I have virtually no tangible assets due to family illnesses. My savings and retirement were spent down trying to keep up with medical costs and living expenses.
I need housing. After having been evicted, at most because of the almost two year wait for an SSD appeal, and having waited months before that after being rejected the first filing, it is problematic for a number of reasons, least of which is is not the declining housing market. Then there is the question of credit worthiness to purchase real estate. I am beginning to put feelers out to find out if that is possible with about 30K, which is exempt in Michigan, max being 35k, w/17.5K per spouse. I even wonder if Social Security benefits are required to be reported to a trustee after a given period. I think possibly banks and homeowners may be anxious enough to sell to me under the circumstances and am aware that the move is on to buy property here (http://www.housingpredictor.com/michigan.html), perhaps at very low prices. Then I have heard estimates that the housing market will continue to fall for about another year. The government is on its hind feet now to help bail things out, possibly indicating that it is turning around, in some places more than others. Dave Ramsay says that it is a great time to buy real estate. What are your thoughts about the possibility that he has an agenda at work, that would cause him to make a call like that, contrary to what seems conventional wisdom, that being at best speculative? For what it is worth, there is substantial retail development (Wal Mart, Menards, Meijer, and the attendant surrounding small businesses and other box stores). The state government has given a 50k grant to the town for development and there are fewer weeds growing between the cracks in the pavement.
Having looked at my TransUnion credit report it is not as bad as I had expected, but there are a substantial number of debts not reported. It is ludicrous to me that credit scores are not by law to be divulged to a consumer, but I do have the means to get it and will. My wife's SSD will be available soon, providing another lump sum and her continuing monthly payments, I am pretty confident that will help to make it affordable to continue payments. All or most of any lump sum we would intend to use to pay down the real esate debt.
I will be filing chapter 7. That is a stone cold fact. If I were to make a small home or condo purchase in the immediate future would I stand to lose that money in BK? I have read that there are some time factors for certain purchases or expenses that have to expire before filing and that those time frames are critical, but have not yet found anything about housing in that regard.
I am also looking at a workers' comp settlement of about 25K several months from now, and a smaller one sooner. Those would, for the most part be put toward the payment of real estate, but I ask if or how essential it be that I put the BK behind me and in what kind of time frame before that happens.
My attorney has been little help. But then he is in the dark about housing as just about everyone else. I paid him a couple of hundred bucks for his offer to negotiate some of my debt down. I had already received offers from major creditors to settle for 60%, but he insisted he could do better. After having looked much more carefully at things, I determined and let him know not to bother because this thing is bigger than I thought. He asked me to come in again and bring more money, but after having given him what I did, and for which he did nothing, I am going to be shopping for another. I have tort law, criminal law, and paralegal studies under my belt, have been through a two year civil trial, and have learned much; perhaps enough to file pro se with the wealth of information at my keyboard, at this forum and otherwise.
In my mid 50's and disabled, My wife is the same age and has many more health issues than I do, limiting my ability to get out of the house. This limits my ability to earn, although I am at work to begin freelance design work to earn some supplemental income within SS guidelines. Between our combined SSD I expect that we would, under reasonably good circumstances, be able to keep up. In the end, and provided the possibility exists that I can make a purchase, It appears I could have a small home or condo paid for within a few years.
If any of this rings as being fraudulent, please call it out loud and clear. I do not want to run afoul of a trustee or any other major players.
I need housing. After having been evicted, at most because of the almost two year wait for an SSD appeal, and having waited months before that after being rejected the first filing, it is problematic for a number of reasons, least of which is is not the declining housing market. Then there is the question of credit worthiness to purchase real estate. I am beginning to put feelers out to find out if that is possible with about 30K, which is exempt in Michigan, max being 35k, w/17.5K per spouse. I even wonder if Social Security benefits are required to be reported to a trustee after a given period. I think possibly banks and homeowners may be anxious enough to sell to me under the circumstances and am aware that the move is on to buy property here (http://www.housingpredictor.com/michigan.html), perhaps at very low prices. Then I have heard estimates that the housing market will continue to fall for about another year. The government is on its hind feet now to help bail things out, possibly indicating that it is turning around, in some places more than others. Dave Ramsay says that it is a great time to buy real estate. What are your thoughts about the possibility that he has an agenda at work, that would cause him to make a call like that, contrary to what seems conventional wisdom, that being at best speculative? For what it is worth, there is substantial retail development (Wal Mart, Menards, Meijer, and the attendant surrounding small businesses and other box stores). The state government has given a 50k grant to the town for development and there are fewer weeds growing between the cracks in the pavement.
Having looked at my TransUnion credit report it is not as bad as I had expected, but there are a substantial number of debts not reported. It is ludicrous to me that credit scores are not by law to be divulged to a consumer, but I do have the means to get it and will. My wife's SSD will be available soon, providing another lump sum and her continuing monthly payments, I am pretty confident that will help to make it affordable to continue payments. All or most of any lump sum we would intend to use to pay down the real esate debt.
I will be filing chapter 7. That is a stone cold fact. If I were to make a small home or condo purchase in the immediate future would I stand to lose that money in BK? I have read that there are some time factors for certain purchases or expenses that have to expire before filing and that those time frames are critical, but have not yet found anything about housing in that regard.
I am also looking at a workers' comp settlement of about 25K several months from now, and a smaller one sooner. Those would, for the most part be put toward the payment of real estate, but I ask if or how essential it be that I put the BK behind me and in what kind of time frame before that happens.
My attorney has been little help. But then he is in the dark about housing as just about everyone else. I paid him a couple of hundred bucks for his offer to negotiate some of my debt down. I had already received offers from major creditors to settle for 60%, but he insisted he could do better. After having looked much more carefully at things, I determined and let him know not to bother because this thing is bigger than I thought. He asked me to come in again and bring more money, but after having given him what I did, and for which he did nothing, I am going to be shopping for another. I have tort law, criminal law, and paralegal studies under my belt, have been through a two year civil trial, and have learned much; perhaps enough to file pro se with the wealth of information at my keyboard, at this forum and otherwise.
In my mid 50's and disabled, My wife is the same age and has many more health issues than I do, limiting my ability to get out of the house. This limits my ability to earn, although I am at work to begin freelance design work to earn some supplemental income within SS guidelines. Between our combined SSD I expect that we would, under reasonably good circumstances, be able to keep up. In the end, and provided the possibility exists that I can make a purchase, It appears I could have a small home or condo paid for within a few years.
If any of this rings as being fraudulent, please call it out loud and clear. I do not want to run afoul of a trustee or any other major players.