Announcement

Collapse

Forum Rules (Everyone Must Read!!!) (updated: 04/28/2015)

Welcome to the Bankruptcy Forum. Bankruptcy (BK) Forum is known as BKForum.com and will be referred to as BKF hereinafter. In order to ensure a long term success of our vibrant community, we have established certain rules and guidelines to which everyone must adhere to. Please take your time to carefully read our rules, before you start to participate in the community.

Things you agree to do:
BKFORUM.com (BKF) users agree to use the search function before starting a new thread. This prevents duplicate discussions and allows for better organized topics.

All BKF users agree to read the sticky posts which may be available at the top of a forum page. These Sticky posts often contain valuable information. They may also outline more rules and guidelines specific for that particular forum, stickies are put in place by that forums moderator(s) or admin(s).

Things you agree not to do:

All BKF users agree not to call people names or write a post simply to make a personal attack, or get a negative reaction; this behavior is not allowed on our forum. The use of derogatory language aimed at anyone will be severely dealt with. There is no need to agree with each other, or to even like each other. However, by signing onto BKForum.com you agree to treat each member and guest with the respect they deserve. No threats or personal attacks will be allowed.

All BKF users agree not to discuss, engage, or encourage any behavior or activity which violates the law. Discussion of drugs, violence, murder, theft, vandalism, fraud or any other issue which could be used to help individuals break the law is strictly forbidden.

All BKF users agree not to "bump" old threads, unless there is a specific benefit to the community by doing so. But in most cases, please don't post in very old threads, instead start new threads.

All BKF users agree not to attempt/use another members account. It is against BKF rules to use any account other than your own. Impersonating another member will result in an immediate ban. It is also against the rules to open more than one account in your own name without permission from a moderator or administrator. If you have been banned for any reason, it is against the rules to open another account. If you were banned temporarily and you are caught using another account you will be banned permanently. Choosing a moniker which is similar in either sound or spelling as a moderator or administrator is strictly forbidden.

All BKF users agree not to private message any moderator, admin, or other member with questions related to their personal circumstances (Questions about the forum or issues with the forum are ok). This forum only works when members share their experience and insights with everyone.

Things you agree not to post:
All BKF users agree not to post any derogatory/racist/or sexist remarks. This includes attachments, links and all information contained within posts, signatures, and avatars, failure to comply with this rule will result in a permanent ban.

All BKF users agree not to post any copyrighted or trademarked information without the express written permission of the owner(s) / proper citation of source.

All BKF users agree not to post any real names, addresses, telephone numbers, email addresses, social security numbers, or any other personal details (their own or other people's).

All BKF users agree not to post links, pictures, attachments, videos, or the like of pornographic content, objectionable material or extreme violence, whether cartoon or real.

All BKF users agree not to use BKF for advertising purposes without a written contract between yourself/company/agent and the administration of BKF. Blatant advertising will result in a ban.

All BKF users agree not to spam the forums. Spam includes but is not limited to posting erroneous, non-relevant-useless, off-topic, or meaningless posts. Spam may also include posts which contain no text, or large areas of blank space between lines. Simply posting emoticons without text is considered spam. BKF is the largest bankruptcy message board and all the content is intended to help other users. Please help us improve the quality of our forum by making sure that your posts are well-worded, spell checked, grammatically correct and syntaxed.

Regarding actions of moderators and administrators:

The forum is no place to air out your opinion or be judgmental of our staff and its capabilities.

All BKF users agree not to abuse or mistreat moderators or administrators. It is against BKF rules to post any information regarding bans or any other action taken by a member of the moderating or administrative team. If you wish to discuss bans or warnings please do so via PM. To place a complaint against a moderator, send a PM to a super moderator. All Moderators are equal, any decision made by a moderator must be adhered to. If a moderator tells you something you do not like, do not go to another moderator looking for a different answer. If you are caught doing this you will be banned. The moderators work as a team and respect the decisions made by their peers and will help enforce them unless an administrator tells them differently.
If you have an issue with how the forum is run, then notify one of our administrator and we will look into the situation. We have in the past and still do appreciate any input that you offer this forum. But critical input and/or judgmental postings towards the staff will result in you getting banned.


Should you find a thread offensive or out of line, then notify a Mod in a PM so they can evaluate the situation and do the action deemed necessary.

All moderators do have active "other" lives outside of the forum and help moderate this forum in their spare time throughout the days and weeks.

If you have a problem with a member or Mod follow the proper channels of reporting it.

BKF reserves the right to delete any posts which contain anti-BKF comments or discussion. Any bashing of moderators or administrators, or any of their discussion or actions will also be deleted, and the responsible posting party(s) will be banned. Any public anti-BKF advertising, communication, or posts on another forum will result in permanent bans as well.

All warnings and bans are decided by individual moderators and administrators. Warnings are preferable to bans however, for serious offenses and repeat abusers bans will go into effect. The length of the bans can vary from several hours to permanent.

All messages posted or sent including through PM are the property of BKforum.com.

All BKF users agree not to advertiser on the forum (Niether by posting, private messaging or using your signature). If you are a company/attorney/legal adviser wishing to advertise on the site or sell a product, you must contact the head administrator and inquire about our advertising packages.

All bankruptcy related opinions expressed on BKForum.com are those of their authors and not necessarily of BKF, its staff or representatives.

You agree not to copy any material/post/content from BKF without written permission from our head administrator .

By posting on this forum you agree to these terms and conditions, including any punishment deemed appropriate by moderators or administrators in the event of an offense.

Administrators/Moderators can change these rules at any time without prior notice.
See more
See less

$70,000 medical bills, and lots of unusual questions/situations Help Please!!!

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • $70,000 medical bills, and lots of unusual questions/situations Help Please!!!

    Trying to file chapter 7, current on all bills except for medical. I have a personal injury case, which will be listed as an asset. I don't even care if I get anything out of it at this point.
    My husband inherited 1/3 of the value of our home ($50k), and we are buying out the other 2/3 from his brothers. There is no mortgage on it at all, but we do have the monthly payment.
    We have one paid for vehicle worth $3000 and another worth $12,000 which we owe $6000 on. ($9000 equity in vehicles) My husband works in another town, and I go to school full time, so we can't live with one vehicle.
    I am still trying to determine if Social Security benefits for my son will be considered income; if so I will be over median income.
    It gets even more complicated- I sold a mobile home in 2008, and will receive the last payment next month. The title will not be transferred until then. I want to file this month, will it be an asset even though was actually sold two years ago? (long before any of the medical bills occurred).
    We have no issues paying our bills, we don't even have credit cards. I plan on filing in the next few weeks- I can't take all the harassment any longer.

    *has anyone taken out a loan to pay attorney, and how will this loan be treated?
    *has anyone traded in vehicle for more expensive one to lower equity? would it be fraudulent? Would I get to keep the new vehicle?
    *we will be getting health insurance through my husbands job in January, cost is $600 a month-are future expenses ever considered? (currently uninsured)
    *I have a second savings account in my daughters name- a fundraiser for a trip she wants to go on through the school. How will this be treated?
    *income from student loans (exempt) was deposited in regular bank account. How will it be determined whether loan money or income was spent (and which was which)?
    When looking back at bank statements, the student loans make my income look way over.

  • #2
    Trying to file chapter 7, current on all bills. Why?

    If you are going to file, paying on any debt that is going to be discharged in the BK is throwing money away.
    Stop all debt payments unless it is a house or car you are going try to keep through the BK

    My husband inherited 1/3 of the value of our home ($50k), and we are buying out the other 2/3 from his brothers. There is no mortgage on it at all, but we do have the monthly payment.

    No mortgage but there is a monthly payment? Who gets the payment?
    During probate did the title/deed get the names changed to your husband? husband + brothers?

    The house is a problem. His equity is 50K and NM only protects 30K, so the house may be taken by the BK trustee and sold to get the 20K in non-exempt equity. Plus the problems with three people on the title/deed

    The vehicles might be a problem for the BK, NM allows 4000 in vehicle equity each person. So with 8K to cover both cars, you need to get a lower evalution for your vehicles, use Kelley Blue Book, or go to Craigslist, find a match to your vehicle, check the price.

    No idea on how to handle the mobile home sale...need an attorney to weigh in on this one....

    has anyone taken out a loan to pay attorney, and how will this loan be treated?
    Don't do this, if you know you are going into BK, it is fraud to be using credit. Stop all payments on debt and use that money for the atty.

    has anyone traded in vehicle for more expensive one to lower equity? would it be fraudulent? Would I get to keep the new vehicle?

    Fairly common, not fraudulent if you know you can easily afford the payments post-BK. If you can keep paying, you can keep the vehicle.
    Probably not a necessary move, you can re-evalulate the cars you have and be under the exemption limits.

    cost is $600 a month-are future expenses ever considered? Yup, future expenses will go on Sched J

    I have a second savings account in my daughters name This is a cash asset that can be grabbed, spend it paying utility bills in advance. When you are not paying utility bills, put the $$ back.

    income from student loans (exempt) was deposited in regular bank account. How will it be determined whether loan money or income was spent (and which was which)? Once the exempt student loan money got put in with regular cash, it lost its exempt status and is now regular cash. You will need to get this spent before the BK Maybe pay ahead on tuition or other school expenses.

    When looking back at bank statements, the student loans make my income look way over.

    Student loans are cash assets if left hanging around, but they are not income. You are not going to use bank statements to prove your income, bank statements are for catching large chunks of cash going in and out, you will get asked about where the money went. For income verification you need pay stubs or cancelled checks from your employer. Self-employed use their tax documents or business records. Everyone hands in tax returns for the last two years.

    Wow....lots of blathering....hope some is useful..

    Tom in Colo
    Ch7 filed 5/12/2010.....341 meeting 6/30/2010....report of no distribution 8/15/2010.....discharged 10/01/2010.....closed 11/09/2010

    Comment


    • #3
      Not trying to scare you but, you need to get yourself to an attorney in the worse sort of way.
      If, whoever is holding the mortgage on your house hasn't properly perfected the lein the trustee can snatch it away from both you and the mortgage holders.Since you have family involved in this, don't file until you get some answers as to how it'll affect them.

      Comment

      Unconfigured Ad Widget

      Collapse
      Working...
      X