Good book

[hhou812hh]

Check out this book. It's pretty good with the new law coming up. Just finished reading it and it's pretty good. Only $12.95 (cash only LOL)


J.K. Lasser's The New Bankruptcy Law and You

[Lightning]

Better yet!

You can buy it at Half.com for $8.75 + $2.79 shipping = $11.54.

That saves you over a buck.

And if you use your cash back or rewards credit card that you pay in full every month, you get even more back!!!

[hhou812hh]

You can buy it at Half.com for $8.75 + $2.79 shipping = $11.54.

That saves you over a buck.

And if you use your cash back or rewards credit card that you pay in full every month, you get even more back!!!

Good one Lightning! Keep us smiling. I was wondering when you would show up. You mentioned on past threads about how some people and the media are blowing the new laws out of proportion and after reading this book, you are correct.

While a ch7 will still be tough for some the bk code in general will still HELP people get ahead. If you qualify for a 7 due to low income it's there. If you have some money left over to pay some of your debts, a ch13 will help!

As HHM mentioned before the burdon will be lifted (after Friday) from the US Trustee and put on us with the means test to determine which chapter to file.

The new laws are very accommodating to all kinds of retirement accounts and 401k loan payments . No matter what anyone's opinion on the new law is it's still much better then spending the rest of your life in debt. Now that we're days away we should all try to focus on the positives and not bash it since it the old laws won't exist anymore.

[StaciMM]

There is a lot of boohooing going on at creditboards.com regarding the means test, IRS standards, etc. Well, my only complaint is that I don't believe in the 'one size fits all' sort of bandaid. For us, though, and for alot of people, they are reasonable. We come in under the allowance in both the housing/utility area & living expenses.

Also, from what I've seen the median incomes seem higher than I expected. Filing next month wouldn't have changed the end result for us.

[StaciMM]

If you check it out from your local library, there is no charge. (I don't know how long it takes for new books to reach the libraries though...)

You can buy it at Half.com for $8.75 + $2.79 shipping = $11.54.

That saves you over a buck.

And if you use your cash back or rewards credit card that you pay in full every month, you get even more back!!!

[hhou812hh]

There is a lot of boohooing going on at creditboards.com regarding the means test, IRS standards, etc. Well, my only complaint is that I don't believe in the 'one size fits all' sort of bandaid. For us, though, and for alot of people, they are reasonable. We come in under the allowance in both the housing/utility area & living expenses.

Also, from what I've seen the median incomes seem higher than I expected. Filing next month wouldn't have changed the end result for us.

I admit it's more difficult then the present soon to be old laws, but still better then no laws. I'm just trying to stay positive,, looking at the whole picture and especially since we have NO choice. People can whine all they want and nothing will change it. Monday it's done! It's easy for me to say too since I was going to file a ch13 under current/old law and propose exactly what the means test requires me to pay. 2 more years though It's like trying to force a child to eat their broccoli and spinach . At first they will gag and after a while they will get used to it.

[hhou812hh]

Also...

Of the hundreds of changes there is another important one, I think HHM mentioned it several times. When we hear from people who went to 341's and tell us those stories of people that forget car titles, tax returns, ss cards, bank statements, etc. don't think you can just come back in a week to bring these items. YOUR CASE WILL BE DENIED!! They are trying to prevent serial filers that file just to take advantage of the autmatic stay and feel this will stop it. When you file again the court will automatically presume it's a "bad faith" filing since you were already dismissed and the auto stay is limited. I think it's going overboard though.

Advice: for pro se filers dot ALL of your I's and cross ALL of your T's. If you hire an atty make sure he or she is the best and be prepared to pay for it.

This will really suck for the poor storm or terror victims. Hopefully congress will study it and modify or repeal this section. We're only human and we make mistakes and it will hurt a lot of debtors just to stop a few bad people.

Good luck!!

[Minnymouth]

Get this,
Under the new laws, my lawyer would be held "accountable" for his actions, under the old laws he's not....

Minny

[Zapata]

Also, from what I've seen the median incomes seem higher than I expected. Filing next month wouldn't have changed the end result for us.

And if all else fails for others in the future, they can try to move to a really rich part of the country ... live in a trailer, clean the rich people's houses ... for 6 months before filing. I guess a person could try to move to a place that has a very high median income.

But really, the new bankruptcy law is very, very, very bad. One catastrophic illness and a family can be wiped out.

Meanwhile, corporations like Enron and Worldcom will still get away with bilking our countrymen for trillions.... but a family who has worked hard all their lives, who have assets and who get struck down with an illness and then the insurance company stops paying for medical, and they lose the primary job in the family... and BOOM.... they lose a lifetime of hard work.That is not the american way. Heck, give us universal healthcare, and I would almost support the new bankruptcy law.

Over 50% of bankruptcies are due medical bills. What does that say about our first world nation????

[AAAArt]

If you check it out from your local library, there is no charge. (I don't know how long it takes for new books to reach the libraries though...)

Some people may not be aware of this, but most libraries will actually buy books that you request them to buy. Particularly something that is on a hot topic like this and is in need by people who can't afford it. Another option is to ask them if thwy can do an inter-library loan and check if it is available that way.
The problem is that none of this is fast and we all want the answers yesterdaay. (At least, that's how it is with me and "just maybe" that's part of my problem). Think so???