Announcement

Collapse

Forum Rules (Everyone Must Read!!!) (updated: 04/28/2015)

Welcome to the Bankruptcy Forum. Bankruptcy (BK) Forum is known as BKForum.com and will be referred to as BKF hereinafter. In order to ensure a long term success of our vibrant community, we have established certain rules and guidelines to which everyone must adhere to. Please take your time to carefully read our rules, before you start to participate in the community.

Things you agree to do:
BKFORUM.com (BKF) users agree to use the search function before starting a new thread. This prevents duplicate discussions and allows for better organized topics.

All BKF users agree to read the sticky posts which may be available at the top of a forum page. These Sticky posts often contain valuable information. They may also outline more rules and guidelines specific for that particular forum, stickies are put in place by that forums moderator(s) or admin(s).

Things you agree not to do:

All BKF users agree not to call people names or write a post simply to make a personal attack, or get a negative reaction; this behavior is not allowed on our forum. The use of derogatory language aimed at anyone will be severely dealt with. There is no need to agree with each other, or to even like each other. However, by signing onto BKForum.com you agree to treat each member and guest with the respect they deserve. No threats or personal attacks will be allowed.

All BKF users agree not to discuss, engage, or encourage any behavior or activity which violates the law. Discussion of drugs, violence, murder, theft, vandalism, fraud or any other issue which could be used to help individuals break the law is strictly forbidden.

All BKF users agree not to "bump" old threads, unless there is a specific benefit to the community by doing so. But in most cases, please don't post in very old threads, instead start new threads.

All BKF users agree not to attempt/use another members account. It is against BKF rules to use any account other than your own. Impersonating another member will result in an immediate ban. It is also against the rules to open more than one account in your own name without permission from a moderator or administrator. If you have been banned for any reason, it is against the rules to open another account. If you were banned temporarily and you are caught using another account you will be banned permanently. Choosing a moniker which is similar in either sound or spelling as a moderator or administrator is strictly forbidden.

All BKF users agree not to private message any moderator, admin, or other member with questions related to their personal circumstances (Questions about the forum or issues with the forum are ok). This forum only works when members share their experience and insights with everyone.

Things you agree not to post:
All BKF users agree not to post any derogatory/racist/or sexist remarks. This includes attachments, links and all information contained within posts, signatures, and avatars, failure to comply with this rule will result in a permanent ban.

All BKF users agree not to post any copyrighted or trademarked information without the express written permission of the owner(s) / proper citation of source.

All BKF users agree not to post any real names, addresses, telephone numbers, email addresses, social security numbers, or any other personal details (their own or other people's).

All BKF users agree not to post links, pictures, attachments, videos, or the like of pornographic content, objectionable material or extreme violence, whether cartoon or real.

All BKF users agree not to use BKF for advertising purposes without a written contract between yourself/company/agent and the administration of BKF. Blatant advertising will result in a ban.

All BKF users agree not to spam the forums. Spam includes but is not limited to posting erroneous, non-relevant-useless, off-topic, or meaningless posts. Spam may also include posts which contain no text, or large areas of blank space between lines. Simply posting emoticons without text is considered spam. BKF is the largest bankruptcy message board and all the content is intended to help other users. Please help us improve the quality of our forum by making sure that your posts are well-worded, spell checked, grammatically correct and syntaxed.

Regarding actions of moderators and administrators:

The forum is no place to air out your opinion or be judgmental of our staff and its capabilities.

All BKF users agree not to abuse or mistreat moderators or administrators. It is against BKF rules to post any information regarding bans or any other action taken by a member of the moderating or administrative team. If you wish to discuss bans or warnings please do so via PM. To place a complaint against a moderator, send a PM to a super moderator. All Moderators are equal, any decision made by a moderator must be adhered to. If a moderator tells you something you do not like, do not go to another moderator looking for a different answer. If you are caught doing this you will be banned. The moderators work as a team and respect the decisions made by their peers and will help enforce them unless an administrator tells them differently.
If you have an issue with how the forum is run, then notify one of our administrator and we will look into the situation. We have in the past and still do appreciate any input that you offer this forum. But critical input and/or judgmental postings towards the staff will result in you getting banned.


Should you find a thread offensive or out of line, then notify a Mod in a PM so they can evaluate the situation and do the action deemed necessary.

All moderators do have active "other" lives outside of the forum and help moderate this forum in their spare time throughout the days and weeks.

If you have a problem with a member or Mod follow the proper channels of reporting it.

BKF reserves the right to delete any posts which contain anti-BKF comments or discussion. Any bashing of moderators or administrators, or any of their discussion or actions will also be deleted, and the responsible posting party(s) will be banned. Any public anti-BKF advertising, communication, or posts on another forum will result in permanent bans as well.

All warnings and bans are decided by individual moderators and administrators. Warnings are preferable to bans however, for serious offenses and repeat abusers bans will go into effect. The length of the bans can vary from several hours to permanent.

All messages posted or sent including through PM are the property of BKforum.com.

All BKF users agree not to advertiser on the forum (Niether by posting, private messaging or using your signature). If you are a company/attorney/legal adviser wishing to advertise on the site or sell a product, you must contact the head administrator and inquire about our advertising packages.

All bankruptcy related opinions expressed on BKForum.com are those of their authors and not necessarily of BKF, its staff or representatives.

You agree not to copy any material/post/content from BKF without written permission from our head administrator .

By posting on this forum you agree to these terms and conditions, including any punishment deemed appropriate by moderators or administrators in the event of an offense.

Administrators/Moderators can change these rules at any time without prior notice.
See more
See less

New FAQ on Creditor Objections!

Collapse
This is a sticky topic.
X
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • #16
    Thanks for taking the time to put this up. While I had no objections, I believe that the information that I learned on this forum by reading many threads helped me to avoid the common mistakes that would have led to objections.

    Comment


    • #17
      Originally posted by HHM View Post
      Go back and read the FAQ link.

      They can go back as far as they want if they think they can prove you intentionally borrowed money with no intent to pay it back.

      But practically speaking, 6 months is the cut off.
      That is true. My lawyer, who is also a trustee, made this point clear. That the creditor can look back at 2 years worth of transactions if they wanted.
      Last edited by shabam; 04-27-2009, 09:07 AM.
      My comments are solely based on my opinion. The information and links that I have
      posted are provided solely for informational purposes, and do not constitute legal advice

      Comment


      • #18
        I realize that most objections/APs end in some kind of settlement or reaffirmation agreement --

        However, are there situations where a creditor would not settle or at least reaffirm?

        It seems that most debtors would be in no position to begin to cover the legal fees involved in an AP.

        Comment


        • #19
          I was seriously concerned with this too. I started a thread and I have asked the same question. Nobody on here has gotten any objections. I think I read about 1 guy who got an objection over a cash advance, but it was blatant and withing a month of filing. Also one guy charged up 6k within a month of filing and nothing happened.

          In fact I have extensively researched the subject online and found no horror stories. My lawyer has been practicing for around 8years and has never had an objection(knock on wood). Cash advances seem like the only worry if any

          Comment


          • #20
            Originally posted by deepin View Post
            I realize that most objections/APs end in some kind of settlement or reaffirmation agreement --

            However, are there situations where a creditor would not settle or at least reaffirm?

            It seems that most debtors would be in no position to begin to cover the legal fees involved in an AP.

            HHM, would you be willing to address this?

            Also, does the court need to approve of the settlement or reaffirmation agreement?

            Comment


            • #21
              Originally posted by deepin View Post
              HHM, would you be willing to address this?

              Also, does the court need to approve of the settlement or reaffirmation agreement?

              What are you asking about? Car, personal, credit card.\

              Some car finance companies will not reaffirm. Ford is tough and credit unions that have cross colaterilization(ie. you are bk'ing a CC and you have a car loan with the credit union).

              As stated ealier, I haven't heard of anyone getting an objection on a credit card. i think it just isn't cost effective to them. Since most people who are filing ch7 are broke and have few assets. As for your question of not settling, depends on you situation. If they see an airtight case or fruad then they may not, but i haven't heard of any objections, let alone them not wanting to take what they can get.

              As with the trustee having to approve it, I dont think so, but I am not positive.

              In a nut shell, if you have a questionable charge, the worse case scenerio(as long as it isn't blatant fraud) is that you will have to pay the full amount. More likely you won't here a peep from them. If you do get an objection, then you have a couple options.
              1.) try to settle for less(most likely scenerio( "IF" it happens)).
              2.) You will have to pay the full amount back to them
              3.) You can fight it. This option may cost you more if your lawyer has to do extra work.

              All 3 options will only effect that charge and not the rest of your bk case. Ie... IF discover objects to your 5k cash advance and you owe them 7k total from previous charges, then worse case scenerio (excluding fraud)is you have to pay them 5k, while the previous 2k you owed them and all other debts procede through BK. That is why you don't here about objecions, unless there is a blatant huge amount of money taken on a cash advance. As long as you realize you might have to pay back what was charged then there isn't really a down side. Just avoid fruad as the trustees have seen every trick in the book.

              So let me ask you "Do you feel lucky, Punk" Just kidding,
              Last edited by Brighterdays; 05-08-2009, 09:30 AM.

              Comment


              • #22
                Specifically, I'm wondering about settling credit card related objections.

                Would the court need to approve these?

                Comment


                • #23
                  Originally posted by deepin View Post
                  Specifically, I'm wondering about settling credit card related objections.

                  Would the court need to approve these?
                  "If" the objection comes up, then yes, the court will allow a settlement, as long as the creditor is happy the court doesn't care. The trustee's job is to sniff out assets sell them and satify the creditors.

                  If you give us some specifics, we might be able to give you a little better answer. You might be amazed at what some people "got away"with on here. One guy charged up 6k with in 30days of filing and the cc company didn't raise an objection. I have heard some even have done cash advances and did get objections. Ask your lawyer as he will be more familiar with your district.

                  Comment


                  • #24
                    Originally posted by deepin View Post
                    Specifically, I'm wondering about settling credit card related objections.

                    Would the court need to approve these?
                    Can you tell us why you think the creditor may object?
                    Chapter 7 07/30/2008
                    341 09/17/2008
                    Discharge 11/21/2008

                    Comment


                    • #25
                      Originally posted by TEW View Post
                      Can you tell us why you think the creditor may object?
                      yeah, what he said We definately need to know what you are worried about, as it maybe nothing to worry about at all.

                      Comment


                      • #26
                        It's easy to look up the odds of being involved in an Adversarial Proceeding. Just go to your BK district's website and look for the statistics link. In my district, it's about 4%. Seems like the level of objections is remaining about the same, while filings are up, nearly double what they were last year in my district.

                        hxxp://www.canb.uscourts.gov/court-information/case-statistics

                        (replace "xx" with "tt")

                        Comment


                        • #27
                          Originally posted by HHM View Post
                          Go back and read the FAQ link.

                          They can go back as far as they want if they think they can prove you intentionally borrowed money with no intent to pay it back.

                          But practically speaking, 6 months is the cut off.
                          OMG, 6 months ago I hadn't even thought of filing. I was still robbing peter to pay paul and charging utilities and groceries to make ends meet. Holy crap. I'm not a fraud, just decided one day this all had to stop and after trying to work with the cc companies to no avail, bankruptcy was my only option.

                          Comment


                          • #28
                            Originally posted by Trybaby View Post
                            OMG, 6 months ago I hadn't even thought of filing. I was still robbing peter to pay paul and charging utilities and groceries to make ends meet. Holy crap. I'm not a fraud, just decided one day this all had to stop and after trying to work with the cc companies to no avail, bankruptcy was my only option.
                            I also used my credit cards to get by for a few months. I was working with the credit cards to lower my payment... and they worked with me, most of them that is. In Oct I lost my job. I could no longer pay my credit card's. NOT EVEN ONE PENNY! So is that going to be red flaged as fraud???

                            Comment


                            • #29
                              Time is your friend. If the charges were for food, gas, etc. you have nothing to worry about. Worst case you would have to pay some recent purchases back if they were large, say 500 or more.
                              7-2-2009 Filed
                              8-28-09 341 Concluded, no assets
                              10-28-09 DISCHARGED/CLOSED!!!!

                              Comment


                              • #30
                                Straight up great info here. Thank you very much for taking the time to summarize and post.

                                It seems a bit obvious to me that you should voluntarily CLOSE the credit card accounts thagt you intend to discharge TODAY and wait 90+ days before filing. That way there is no way to cause the issue in the first place. Unless, of course, causing the issue is your intent.

                                JB

                                Comment

                                Unconfigured Ad Widget

                                Collapse
                                Working...
                                X