how does the economy/credit freeze impact BK filing

[blackmopar]

Ok, not really sure what I am asking here - Im preparing to file for 7, but Im on the line as far as income calculations are concerned.

Im wondering how the whole credit freeze and general slump of the economy is affecting the bk process if at all - meaning - are trustees being more lenient or more agressive to try and put someone to a 13?

Has anyone found their creditors are calling trying to make deals like mine are? And I wonder if people in our positions (filing BK) can take advantage fo the current situation with creditors hurting big time.

I know that sounds shitty - taking advantage of the crippled comes to mind - but hey - deserate times call for desperate measures right?

did any of this make sense?

[fltoo]

IMO, I don't see anything changing regarding BK. I might be wrong.

Also, in my most humble opinion, we are already taking advantage of our federal right to file BK. I, for one, am thankful and don't want to milk it to death.

[PoorGrammyinBK7]

There are probably going to be a lot more BKs as people lose jobs, etc.

[blackmopar]

not so much that I want to take more advantage, but wonder how the economy problems affect bk, and vica versa.
youve got people facing foreclosure that may get relief with this 700bil bailout, and the banks getting relief - how is it going to impact us - easier to file, harder to file, what?

im in my situation (dont worry, i own my own blame) because i got a loan WAAAAY over what I should have been allowed - so now after 2 years of paying to live with credit cards im facing BK - fortunately I sold the house before I got deeper (although now I wonder if i would have been bailed out)

just wondering if it would be better to try and negotiate with creditors now on $.20 on the dolalr or something than get forced into a 13

[blackmopar]

my main question through all my confusing garble:given the current bank and credit issues

are trustees being more lenient or more agressive to try and put someone to a 13?
and
would it be better to try and negotiate with creditors now on $.20 on the dolalr or something than get forced into a 13

[banca rotta]

I think they just do their jobs by the book regardless of economic conditions, news, etc. Just my opinion.

[Bandit]

my main question through all my confusing garble:given the current bank and credit issues

are trustees being more lenient or more agressive to try and put someone to a 13?
and
would it be better to try and negotiate with creditors now on $.20 on the dolalr or something than get forced into a 13

This is where only you can take an honest view of all your options and decide what you feel will be the best plan. Not everyone has to file a BK and might be better off negotiating.

To see where you will stand with a 7 or 13...visit/phone an attorney or two or three, or really get down to the nitty gritty of the law so you know yourself what is best to do. Getting to know the law is more important than what is happening in world economic events because as you can see, that can change with the flick of a switch, but the BK law will remain.

[HHM]

Income calculations are income calculations, it does not depend on the leniency or lack thereof for the trustees. Nearly every district has sorted out what is allowed and what isn't.

Sounds like you are making excuses. Go visit some attorney's and find out where you stand.

[Greettat]

their hearts in their mouths

Wise man have their mouths in their hearts, fools have their hearts in their mouths.-------------------------evening dresses, evening gowns, wedding dresses, bridal gowns, wedding gowns