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Borrowing money during Chapter 13

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    Borrowing money during Chapter 13

    Hello everyone,

    Haven't been online in awhile. Things are pretty stressed here right now. We are into the 6 months stage of chapter 13. Its tough, its very very tough. It seems that all we do is argue about not having any money, need better vehicles because ours are old etc. It seems like my wife constantly blames me for our problems when I was in a low paying job last year. Anyway, I wanted to ask a question about a loan. There is a website that I seen on TV. It seems that it is a people to people loan dispursement that of course the interest is high but in time of need....... Anyway, so far I registered, but didn't go any further because they required your ssn to check your credit score. Do the trustee normally check out what you have been doing on your credit report? Should this be something that someone in a chap 13 should be doing? Please check out the website and let me know, you guys are the experts. Thanks.

    T.
    Last edited by Minnymouth; 04-26-2006, 08:15 AM.

    #2
    NO ONE in a Chapter 13 is supposed to create new debt for any reason without going thru the Trustee...

    REMEMBER, you and your finances are under the control of the Trustee till your Chapter 13 is over...

    Trustee catches you................ he can dismiss your case and then you would be back to square one again.......... completely oweing all the debts.

    If an emergency comes up - (such as car DIES, kids need braces, etc) the Trustee will adjust your payment plan to accomodate these emergencies.....
    But he will not allow loans to be taken out just to have extra money around....

    So anything you do regarding your finances, you best be going thru the Trustee until your case is finished and closed.

    Yes, Chapter 13's are tough.......... buckle down, make plans for the future, and tough it out........... You won't be sorry you did!

    Minny
    Minny

    "It's amazing the paths that our feet sometimes follow in life".

    My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different.

    Comment


      #3
      Thanks,

      Just needed someone to tell me that. I appreciate it. Powerball is tonight!!! Wish me luck!!!!!!!!!!!

      T.

      Comment


        #4
        wHEN I WISH YOU LUCK, YOU GOTTA SPLIT IT WITH ME...........LOL

        GOOD LUCK,

        MINNY
        Minny

        "It's amazing the paths that our feet sometimes follow in life".

        My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different.

        Comment

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