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bcohen
Registered User
Last Activity: Today, 01:51 AM
Joined: 06-12-2010
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  • The damage does not look severe at all, unless the driver's side or rear are damaged as well. This looks like a very minor accident, and it does not appear that the car is frame damaged. I am incredulous that a body shop is charging over $6k for a door, fender, and bumper cover, unless there is more...
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  • Your attorney is giving you very good advice. You didn't say how serious the accident and damage to the car were, but unless we are talking VERY minor cosmetic damage, I would dump the car ASAP. After a serious accident, a modern unibody car will never drive properly again, and will likely suffer...
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  • bcohen
    replied to How long do I have to file before sued?
    Discover is the only creditor which bothered to come after me legally, though it took them more than 3 years from default to do so. During those 3 years, they passed the account from collection law firm to collection law firm, and loaded the balance with interest, late fees, and over-limit fees....
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  • If you have SBA liens for $190k and $170k on a house which is currently worth $320k and still has $190k owed on the mortgage, that means you'd have to repay $550k in principal alone--not even taking into consideration interest--to ever actually own the house.

    If these figures are correct,...
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  • One thing that hasn't been asked on this thread, and is very important: how much are the SBA liens for? If the lien amounts are so high, that you will never own the house outright without paying back vast sums of discharged debt, then it might be best to quit paying the first mortgage and let the bank...
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  • As long as you haven't filed yet, you are free to sell anything you own, as long as it's not to an "insider" such as a friend or family member. It is actually very common for people having financial difficulties to sell or pawn anything of value which they can live without. You should listen...
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  • You should disclose all sources of regular income, i.e. income which you received or expect to receive on an ongoing basis. This would, of course, include running a business. Selling your unwanted personal items online, or by having a yard sale does not count as "income" as you have most...
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  • bcohen
    replied to Letting house go... some questions
    I would only recommend "walking away" from a house if it's worth much less than what you owe and if the total monthly cost to keep the house is more than the total monthly cost to rent. For example, if your monthly mortgage payment, taxes, insurance, and HOA (if applicable) come to $1500,...
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  • bcohen
    replied to I need to buy a car pretty soon
    I think this talk about "driverless" cars is, and will always be a pipe dream. I do not think people are as eager to entrust their safety to a computer as you believe, nor do I think most people want to let the car decide where to take them. Regardless, there will always be demand for regular...
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  • Sounds to me like Wells Fargo is either going to reverse the charges, or they're going to take the loss when you file. Either way, it's not YOUR problem, and it won't impact your bankruptcy in any way.
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  • Don't do that! Wait until after the baby is born, and any medical bills from the pregnancy and delivery have arrived. You can include the medical debt in your bankruptcy, and it will be discharged. Also, then your household size will go up, which means you can claim more "allowable expenses"...
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  • bcohen
    replied to Surrendered vehicle with bumper damage
    As justbroke said, your liability for the truck loan has been discharged, and any body damage or mechanical problems which the vehicle might have are not your concern. The lender cannot come after you for any money.
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  • Had you not already filed, Chase could exercise its right of offset (assuming its cardholder agreement provides for such a thing). Since you have already filed, and obtained a case number, the automatic stay prevents Chase from attempting to collect on any pre-petition debt. They cannot legally touch...
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  • Sure, however it is much harder for a non-governmental creditor to locate a debtor's employer than to locate their bank account. Unless you have applied for credit or an apartment lease at some point in time, and given your current employer's name on the application, the judgment creditor would not...
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