Filing ch7 before Sheriff sale - help anyone??

[gophermn]

[HHM]

I am little unclear on the circumstances...is it...

(1) Your residence (i.e. where you live) is being foreclosed upon and you are surrendering your residence and moving into a rental home
OR
(2) You have a residence and an investment property that you rent to someone else, and it is the investment property that is being foreclosed.

[gophermn]

#2
The investment home is going through foreclosure. The lender said the Sheriff sale is 1/31/08 and I am worried that once it is sold, my ch7 will be forced to a ch13.
I am trying two things:
1. Trying to get the lender to hold off on the Sheriff Sale (not sure how I can do that)
2. Push the BK attorney to get the papers filed. Again he said it takes 60 - 90 days to file and I am on day 46.

[gophermn]

You mentioned submitting a payment and the process starts all over. Does it have to be the full payment or can it be something like $200?

[gophermn]

Does anyone know this answer? Do you think I could get lucky and have the lender accept something like $200 only forcing the process to start all over again?

[keepmine]

I'd demand to know why it takes 60 days to file a bk petition. DO you have some recent credit card charges?

[CindyLou]

You could litterally file on 1/30/08 or a couple of days before and stop the sale. Is there a reason why you need to wait to fil????

[gophermn]

Hi Cindy, basically my lawyer said that as long as I have the rental house I fall under the guidelines to file CH7. Hence, if the Sheriff Sale takes place and the BK lawyer hasn't filed to the courts, I would not pass the means test and end up filing CH13.

What confuses me is I already passed the means test and am able to file CH7 but I supposed the means test doesn't really come into play until you file to the courts, right?

Talking to my BK lawyer he said to get him the Sheriff Sale papers once I get filed and he will try to push this through. "Try" what the hell does that mean? I visited some websites in MN BK and most seem to say it takes 60/90 days. I am on day 52 so you better believe I will be hounding this BK attorney. Or do you think thats not a good idea?

Anyway, here is my timeline thus far:
Consult with BK attorney 10/19/07
Paid in Full 10/19/07
Have heard nothing to date 12/10/07

[CindyLou]

A Bk can be filed the same day you consult an attorney if needed!!! I would say the average time it take for an attorney to get things together and ready would be a maximum of 2 weeks!

But lets back up here a second. You mention that in MN it takes 60/90 day to file a bK....what is the reason for that??? Are you sure that means how long it takes from the time the attorney gets it?

You must call and talk to your attorney and discuss this situation. This BK could be filed today if needed in reality.

Now let me ask you a question. Do you think your attorney might be referring to the fact that if you file then the mortgage co. might lift the stay and proceed with the sale anyway?? I'm just trying to figure this out. You are going to need to talk to your attorney ASAP and get more info and demand that he file if he is just waitinig around for no reason.

[gophermn]

Thx Cindy - all I know is that I was told to keep sending him my payroll and bank stmt copies until the court hearing is complete. I will call him and talk but what really pisses me off is that I feel like I am wasting their time by asking questions even though I paid in full from day1.
Filing CH7 I feel like crap anyway so I am thinking they are treating me the way I already feel (SIGH).
Anyway, my goal is to call and have him call me back. If the Sheriff Sale is January 31, 2008 I dont see any reason why he needs to wait another 6 weeks to file? My lord..

[lrprn]

... all I know is that I was told to keep sending him my payroll and bank stmt copies until the court hearing is complete. ... I dont see any reason why he needs to wait another 6 weeks to file? My lord..

When you look back six months from now, did you have a bonus or other income come through that would skew your income for the Means Test? Or did you take a big cash advance, make a large charge, transfer an asset to a family member....something that is making your lawyer say you have to wait to file so it will drop off your filing?

[gophermn]

You know, I did have a stock option bonus but that was only $150 paid out every other month. So I don't think that would do it. I do know I took a Line of Credit a few months before I met with him so perhaps that is causing havoc.

All I can say is that he told me to get him the Sheriff Sale papers ASAP which means (I hope) he files before the sale. He did say that if he cant file CH7 then he will use the difference from the Sheriff Sale for the CH13.