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BlackandBlue
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Last Activity: Yesterday, 07:38 PM
Joined: 05-23-2018
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  • BlackandBlue
    replied to Tax Refund
    Sorry for being so dense on this topic. Its just not clicking in my head. Is the cash that is non exempt added to what the monthly plan would be -or- in essence is the cash exclused as paying that much to unsecured creditors

    From my understanding I would be able to hold my $20k cash and...
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  • BlackandBlue
    replied to Tax Refund
    .
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  • BlackandBlue
    replied to Tax Refund
    Yes, in a Chap 13 you can keep all of your cash and other assets, even you can't exempt them. If you have $5,000 in non exempt cash, you get to keep it, but your plan must pay at least $5,000 to unsecured creditors. You are basically paying the cash back over the life of your plan instead of all at...
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  • I can not see how filed would make a difference in how the lender treats the reaffirmation. As long as getting payments should be good. It is rare that a lender takes car when payments are being made. Miss a payment and that is a whole other thing.

    Would be very cautious in signing...
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  • BlackandBlue
    started a topic Tax Refund

    Tax Refund

    Going to be filing a 13 (not 100%) soon and in Central Florida. I have not filed taxes in 2 years and will be getting a 20k refund. How is the cash on hand handled at BK.

    I see some comments about the amount of nonexempt assests have to be atleast the same amount to unsecured creditors...
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  • BlackandBlue
    replied to 401K deductions
    Yes...that is what I am asking "calculating the disposable income". Yes, have meet with attorney.
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  • BlackandBlue
    replied to reaffirm mortgage with equity
    Do not reaffirm. Anything can happen, and not having the debt obligation is a great advantage of a BK. It is my understanding that the courts do not typically approve reaffirmations on mortgages anyways.
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  • BlackandBlue
    started a topic 401K deductions

    401K deductions

    I am in Florida. I am going to have to do a 13 as income is so high and not enough expenses.

    -Does anyone know how are 401k contributions handled for calculating the means test? I guess what im asking is I am currently contributing 10%, will I still be allowed to do that...and if not...
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