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bcohen
Registered User
Last Activity: Yesterday, 11:06 PM
Joined: 06-12-2010
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  • bcohen
    replied to What was YOUR experience in filing?
    My experience in filing is that Chapter 7 bankruptcy was easy and painless. It really is not intended to be difficult or burdensome, unless you are trying to hide something or "game the system". For people who are legitimately poor, and need the relief of bankruptcy, it is really not designed...
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  • bcohen
    replied to Live in Texas questions about my situation
    If having your jewelry stolen was the "straw that broke the camel's back" with your ex-girlfriend, then it sounds like you dodged a HUGE bullet not marrying her. I don't see any issues with your bankruptcy either.

    Although Best Buy and many other retailers claim a "security...
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  • More importantly, if he had sold the vehicle to someone on Craigslist--even if that person never transferred title or registered it, he wouldn't have the vehicle to turn over, and the trustee would be unable to locate it. Even if the paperwork from the sale was lost, the burden would be on the trustee...
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  • bcohen
    replied to Filing chapter 7
    1,2,3: Do not worry about losing your meager household possessions. The (panel) trustee's job is to come after non-exempt cash assets, or non-exempt property which can be liquidated which will make a meaningful impact toward your debts. When I filed, I was a good $600+ over the very stingy exemption...
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    Last edited by bcohen; 02-18-2018, 11:50 AM.

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  • bcohen
    replied to Can I file?
    I consider the mis-stated income to be a non-issue at this point. You have had these credit cards for several years, which means that the applications were filled out years ago--not months ago. As you have made several years of payments on these accounts, I just don't see the creditors questioning...
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  • bcohen
    replied to Effect on Credit Score
    My experience was that before I filed, my credit reports were full of collections and charge-offs, and no open accounts. Two of my creditors--Discover Bank and a JDB which purchased my charged-off Citibank MasterCard--filed a new charge-off status each month, presumably to torpedo my scores as much...
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  • bcohen
    replied to Tax refund and needed repairs
    If you are planning to receive a "large tax refund" and if you really have a lot of deferred maintenance on your home and cars which you need to spend the money on, then I'd strongly suggest that you don't file at this time. Wait to declare bankruptcy until after you have received and spent...
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  • bcohen
    replied to How specific do we need to get in property?
    I would list these as "Cookware, dishes, and silverware: $50" and "Household tools: $x". I didn't put a value for the tools, because I don't know what tools you have, but the key is to use yard sale value, which is MUCH lower than what you paid for them new. The value given can...
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  • bcohen
    replied to No loans after discharge?
    I respectfully disagree with the above posting. You should not buy a car that you weren't already planning to buy, just to (hopefully) rebuild your credit. That would be crazy! Likewise, you should not apply for more than two credit cards, and if approved for both, keep both. Do not "shotgun...
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  • bcohen
    replied to No loans after discharge?
    Yes, you can apply for the secured Capital One MasterCard or Discover "It" card. Both of these credit cards have very low fees, and report to the credit bureaus as normal credit cards, which means that using them responsibly will rebuild your credit. More importantly, both of these credit...
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  • bcohen
    replied to No loans after discharge?
    You don't need this loan, and taking out a loan such as this would likely not have helped your credit that much anyways. What does help your credit recover is to allow time to pass (at least 6 months from discharge), check your credit reports and dispute any accounts reporting a balance owed or delinquent...
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  • bcohen
    replied to Fee Waiver Denied?
    I don't mean to sound rude, but if someone is truly so destitute as to be unable to pay $335, even in payments, it is highly unlikely that bankruptcy would offer any benefit to said person. Bankruptcy is designed to eliminate an unsustainable debt burden so that the debtor, once free of these debts...
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  • The junk debt buyer (JDB) did not get defrauded at all, and this happens all the time. Banks and finance companies sell off their defaulted accounts in portfolios of thousands of accounts. These portfolios are priced based on the age, dollar amount, and number of collection agencies who have already...
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  • My advice is that the moment you realize that your business is unprofitable, and will never again become profitable--which has already happened--is the moment you should cut your losses and move on. In other words, do not throw good money after bad, do not feel bad about "stiffing" Amazon...
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  • Interesting article, however the "graduate student" should not really be out anything, because he should have removed the money from his Paypal account long before the "chargeback" showed up. I know that whenever I sell on Ebay, which is not that often, I always withdraw or spend...
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  • bcohen
    replied to Chances of AP
    I second the advice to wait a few months before filing. You should not be in any hurry--you didn't mention any pending lawsuits or garnishment, or even any aggressive collection calls at this time. It takes 6 months of nonpayment for your debts to charge-off, and that's when creditors begin to consider...
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