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

Discharged!!! 8/25/11

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

  • Discharged!!! 8/25/11

    Hello all,

    Yahoooooo... We got our No-consumer no asset chapter 7 discharge 8/25/11. I'm totally psysched.
    It's been a while since I posted, but I just wanted to give a big thanks to all of you who responded to my questions with such sage advice.

    I also wanted to say to those getting ulcers' worrying about thier situation a few things:
    1. Get a good attorney. Find one that is very organized, has a good working relationship with the trustee, and communicates well. I can't stress this enough. Don't just find a BK attny in the phone book and go with them. INTERVIEW THEM.. They are a business, they work for you.
    2. Get yourself organized. Get all your financial documents in order. I bought a hand held file container and it worked great. It sucks being in a meeting and not having some particular document. Being organized relieves a lot stress
    3. Don't beat yourself up. People make mistakes. Some things are not completely your fault; economy tanking, bad advise, you name it, etc... Things just happen. Learn from them and move on. Get your bad situation taken care of. That is why the system is there.
    4. Learn from your mistakes, and don't make them again. Cut up the credit cards, don't take anymore home equity loans, don't buy homes you can't afford paying [email protected] loans on. That's what I learned. We didn't have any cc debt, but lots of Home debt. When I can buy a home again it'll be one that I can afford, without HE loans and such.
    LIVE WITHIN YOUR MEANS
    5. Non-Consumer Ch 7 is a good way to go if you can qualify. If you have over 50% of your debt in business debt, you should research and find out if you qualify. In Idaho where we live, our 2 rental properties helped qualify for NC Ch 7, and we were able to go on without having to do the means test. We wouldn't have qualified for ch 7 going the consumer way.
    6. Really consider not reaffirming your home mortgage. Read the sticky about this and do a lot of thinking. I can rent a comparable home, save $, and in 2-3 yrs have a lot more $ in the bank, while my home value is still 90-100k underwater.
    7. Save your money $$$$$. Roth IRA's are a great place to put your money. They can't come after them. Be smart and get good advice as to where and how to save your money.
    8. Use the cool and kind people on bkforum.com. I got a lot of good anwers and questions to ask my attny from this forum.

    Well that's all I can think of. Please contact me if you have any questions regarding how we went about getting our NC Ch7 done.

    Thanks again
    Jeff
    filed 5/2/11, 341 6/9/11, discharged 8/25/11

  • #2
    Hooray!! I'm very happy for you!!

    A couple of questions...how did things work out with your tenants? If you had tenants during the BK, did you have to turn over your rental income to the trustee? (assuming there was any)

    I'm currently going through a non-consumer chapter 7 and hope to be in your shoes by the end of the year...

    Congrats!!
    Non-Consumer Chapter 7
    December 2011

    Comment


    • #3
      Congratulations. Here is your Victory Dance presented by all of us in the Forum:


      http://www.youtube.com/watch?v=f9aA_fba_To


      If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

      Comment


      • #4
        Congratulations!!!!!!!

        Comment


        • #5
          Awesome - another pair of retirements saved! Live long and prosper!

          Comment


          • #6
            NIIIIICE!!!!!!

            Good for you.

            I agree with all your advice, but would like to add that just because an attorney can practice law does not mean he has your best interest in mind. Even though you are paying them, do your homework and challenge them on anything you suspect can be done better.

            The folks here helped me stage my BK13 beautifully.
            11/23/'10-filed ch 13. 1/6/'11-341, confirmed. Below median. Plan completed 11/30/2015. DISSCHARGED 4/4/2016.JP

            Comment


            • #7
              Congrats! I wholeheartedly agree with you! Can't wait to be there, about 4 weeks to go!

              Comment


              • #8
                Congrats on the discharge! Cheers to your fresh start! And great tips for future bk-ers.
                Chapter 7 Filed: 04/21/2011, 341 Meeting: 05/31/2011, Report of No Distrubution: 06/02/2011, Discharged: 08/03/2011, Closed: 08/10/11

                Comment


                • #9
                  Originally posted by HighUnder View Post
                  Hooray!! I'm very happy for you!!

                  A couple of questions...how did things work out with your tenants? If you had tenants during the BK, did you have to turn over your rental income to the trustee? (assuming there was any)

                  I'm currently going through a non-consumer chapter 7 and hope to be in your shoes by the end of the year...

                  Congrats!!
                  To answer your questions.
                  How I dealt with the tenants was to be completely honest with them. I didn't want my situation to disrupt thier lives. I told them we were going to stop paying our mortgage and that they could live free with the condition that they take care of the property and pay HOA fees and such. They jumped at the chance to save money.
                  With the tenants not paying, I didn't have to worry about rental income that the trustee could take. Some people need the rental income to live off. I didn't. I couldn't have taken their money and kept it. That's just me. They would have found out about the defaulting anyway and would have probably stopped paying. I know I would if I was in thier situation.
                  Honesty and integrity works wonders. People really appreciate it.

                  Jeff

                  Comment


                  • #10
                    Congrats!!!!!Good Luck
                    Down but not out!! filed c7 august 2011...341 september 2011... Unsecured debt over $100k.....bk attorney $1200.......bkforum.com Priceless!!!!!

                    Comment

                    Unconfigured Ad Widget

                    Collapse
                    Working...
                    X