Statement of Intentions

[bkbroad]

I'm new to this forum, hope someone has some advice. I have a continuing earnings wage garnishment in place and I am filing chapter 7. I have to list this on the list of secured creditors according to the instructions at the top of the form. My question is, how do I then list this on the Statement of Intentions? I can't redeem the property as it was repossesed a few years ago. I don't want to reaffirm the debt since it's the main reason i'm filing for bk. The garnishent is not technically taking exempt property. Ugh. Also, what value should be placed on the form for the value of "property".

[EveryDayAdam]

If they have already repo'd the property, then your debt is no longer secured. Once they repo and auction the property, then they must apply the auctioned value (minus expenses) to the balance of your debt. The remaining balance of your debt becomes unsecured at that point.

I'd definitely talk this over with an attorney.

[bkbroad]

Thanks for your advice above. I understand you're not giving legal advice. Just trying to get some insight. Yes, they repo'd the car in 2005, subsequently sold it and now I owe the balance. They've already taken me to court and have a judgement in place to garnish my wages. I've already filed the petition so I'm protected for now, I just want to make sure I list everything (especially this one) in the right place and provide the correct info. I cannot afford to hire an attorney so....I'm wondering if I need to file a Lien Avoidance request. Any suggestions on applicable code to research would be appreciated.

[marzipan13]

i had a few judgments against me before i filed. 1 had tried to garnish my bank account and 1 tried to garnish my wages (but couldnt because i didnt work for that employer anymore and they didnt know where my new job was).
Once I filed, I listed those debts as unsecured non-priority debts and included on my list of creditors...i also listed them on the "statement of financial affairs" forms - question #4 (lawsuits and garnishments).
just to be sure that the garnishments stopped and no more action was taken against me. i called the creditors and their lawyers, then i sent them each faxes of the bk notice showing when i filed and when the creditors meeting was scheduled, then i sent them each letters with a letter warning them that i was protected from the automatic stay.
1 creditor's lawyer filed something with the local court where the garnishment was... it was to stop further actions against me.
the other creditor ignored my notices and still sent police to my house to garnish my property. but i told police that i was in middle of bk case, so he sent the order back to the lawyers.
since then, no problems.
you don't have to file any intention about this debt, since now it is unsecured... they repo'd the secured debt in the past.

for example, i had an auto loan. i filed my intention that i was going to surrender the car. the bank filed motion to lift stay so they could repo the car, which they did. i am not liable for the loan or any debt left over after they auction the car because i am a bk petitioner without any assets.
so that debt will be discharged.
the same goes for this debt that you have that is garnishing your wages. once you submit that creditor's name and address to the bk court, you should immediately call them... send them registered letter that you are in bk... they are required by law to stop the garnishments immediately and refund you any garnishments that took place from the date you filed until they were notified by you and the bk court.