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HHM
HHM
Registered User
Last Activity: Yesterday, 03:04 PM
Joined: 12-27-2004
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  • HHM
    replied to How to select a BK attny?
    No way to judge some of that ahead of time. Base your decision on demeanor and your impression of their competence. That's all you can do. You want an attorney with whom you can work (demeanor). As for expertise, who seemed to talk about things easily, did they make the effort to make sure you understood...
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  • As stated, the website is PACER.gov, but your assumption that there is anything to track is not accurate. In chapter 7, once the case is filed, not much really happens. You go to your Trustee meeting, wait 60 days, and then you have your discharge. There isn't a whole lot that goes on once a chapter...
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  • HHM
    replied to How to Make Kids' Savings "SAFE"
    As LITR points out, an UTMA account is pretty straightforward way to accomplish what you want. You could form a trust if you wanted, but that would likely be overkill. An UTMA account is sort of like a trust anyway, it is simply a more streamlined way to differentiate what is your and what is the kids...
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  • The reality is, most companies that file chapter 11 eventually end up in chapter 7 and are liquidated or sold. As desp. points out, these conversion motions are somewhat routine if the company is not in compliance with the chapter 11 plan or rules, and such motions can be resolved. Candidly, you should...
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  • HHM
    replied to Purchasing a Car before I file Chapter 13
    No, the chapter 13 will not automatically convert the loan to 60 months....
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  • HHM
    replied to Reaffirm Home Improvement Loan
    There is no NEED for you to reaffirm this loan. Assuming you keep paying, you and the co-signor should be fine. Honestly, I doubt a judge would sign off the reaffirmation....
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  • You need to get your 2016 tax returns filed and sent to the trustee. Get it done ASAP. In bankruptcy, a filing extension doesn't mean squat....
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  • 1. Generally, unsecured loans compound interest differently than mortgages, so, you end up paying more interest on the unsecured loan.

    2. Do you have the commitment that no matter how bad things get, you won't take out another 2nd mortgage or HELOC.

    3. In terms of bankruptcy...this...
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  • Nothing wrong with having credit.

    One thing I won't do is apply for NEW credit just to get a discount (Khol's hits you up at the register every time, save an extra X% if you apply for a credit card...I have even had cashiers at Home Depot say, you can have more than one Home Depot car...
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  • You apparently posted before, I don't know your backstory, if you really can't afford the consumer credit counseling fee, begs the question why are you filing bankruptcy at this point in time. Most places are $15.00. Candidly, if you cannot, really, scrape together $15 to $20, you have bigger problems...
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  • HHM
    replied to Chapter 7 with high income
    When it comes to filing chapter 7 bankruptcy and the debtor is over median income, the question becomes "why" is there no disposable income to fund a chapter 13 plan. Then, is the answer to that question reasonable (in bankruptcy terms). If you are close to median, about $5K to $6K per year...
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  • HHM
    replied to equifax issue?
    If it were me, I wouldn't freeze my credit. What people should realize is that given the massive size of the breach, the statistical likelihood that a particular individual will suffer any adverse affects is pretty small....
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  • HHM
    replied to For schedule I, do I include my yearly bonus??
    toff34, if you are over Median on the means test, you WILL get a Notice of Presumed Abuse from the U.S. Trustee. Note, you only need to put the bonus on the means test if it occurred during the 6th month look back. If schedule J is showing negative DMI, the question is why...and the follow-up, why can't...
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  • HHM
    replied to Schedule A/B: Property
    Think of it like this, your petition is picture, a snapshot, of your financial life. You want the picture to be well composed and look natural (nothing out of place), the picture should have consistency. For example, if the debtor lives in a 2000 square foot, 3 bedroom home. is married with 2 kids,...
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  • HHM
    replied to Tax Debt
    Honestly, I wouldn't worry about it that much. Although the IRS sends that letter, and they are correct...bear in mind, these are post petition accruals so technically not part of the BK, the IRS doesn't normally (I have never seen nor heard of them) actively collect, mainly for the reasons Justbroke...
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  • Actually on schedules E/F, the list of creditors, that check box for "subject to offset" means that YOU (the debtor) have a claim against the creditor that would allow some sort of offset, not the other way round. If the creditor owes you money in some manner, than you check that box (and...
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    Last edited by HHM; 09-25-2017, 08:51 AM.

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  • HHM
    replied to Statement of Intentions Question
    You would still mark yes. Candidly, that check box serves almost no substantive purpose....
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  • HHM
    replied to 1st and 2nd Mort included in Chapter 7
    I agree with LadyInTheRed, charge off has NOTHING to do with your obligation to pay the 2nd mortgage or the the lien rights of the 2nd mortgage holder. Strictly speaking, charge off is an incorrect entry on your credit report. The correct entry would be "included in bankruptcy."
    ...
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  • HHM
    replied to Bankruptcy and well being old
    I would agree with the idea that a person should file BK only when the underlying issue that led to the BK is either resolved or the BK will resolve it. That is not what you are saying. You are really saying that you should never file BK because you will always be trapped in a What If mode of thinking....
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    Last edited by HHM; 09-21-2017, 03:49 PM.

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  • HHM
    replied to Bankruptcy and well being old
    It's kind of like a starving person refusing to eat cake because it might harm their figure. Cake may not be the most nutritious thing out there, but if you don't have anything else, you should eat it.

    I look at it from the viewpoint of suffering. Why suffer? You are still playing the...
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