It's a Biggie Bankruptcy needs to get filed due to MSJ and 1+ years of putting it of

[AngelinaCat]

back to the student loan thing; So Sallie mae takes me off the books while the BK goes through the motions and then they put me back on and allow me to continue payments (I was in deferrment at the time)

Does my original contract with them (which gave me a rate of 1.75% still continue or do I need to sign reaffirmation crap?

Professorkev, it is now time to make new threads with your different questions. This one is too long for the posters to follow and respond to. It is unreasonable to expect readers, especially newbies, to see this post #62, and research backward to figure out what you are talking about.

Please create a new thread for each unique question that you have. Meanwhile, this thread is now closed.

[professorkev]

back to the student loan thing; So Sallie mae takes me off the books while the BK goes through the motions and then they put me back on and allow me to continue payments (I was in deferrment at the time)

Does my original contract with them (which gave me a rate of 1.75% still continue or do I need to sign reaffirmation crap?

[professorkev]

exactly angelina, she didn't know that? cant know everything, I guess we all just assume. I may ask for a filing to seal those portions or to refile a redacted version for public viewing.

[AngelinaCat]

Unfortunately, BK filings are Public Record, and anyone can view them if they wan to go to the trouble of going to the courthouse, or signing up for PACER. Most people don't care, but there can be a few who wish to do so for less than exemplary reasons.

I also, am surprised the paralegal didn't know.

[professorkev]

I'm Confused. We can use PACER to access our BK records and I can also check out everyone elses BK records. Bothers me a bit due to my nonfiling wifes statements with acct #'s and worker personell # showing plus several of my credit report accounts display my account # aka SS#.

So I went to the attorney office to sign a reaffirmation and asked the legal assistant f I should be concerned because these numbers are easily accessible through pacer. her response "No they are not Pacer only allows you to look at your individual documents" I stated thats not the case because I was able to access other peoples records (like a friend and relative filed) she stated you shouldn't be able too and she would check with with the courts on that.

She didn't know that? strange.
\

[ValleYum]

We have alot of equity in our home, never late on it or any trouble with the mortgage. Wife is on it and she id the primary income in the home (and perfect credit)

Why not reaffirm it?

As for student loan, when they reinstate it does it go back to the original terms? like my 1.75% rate.

If you have equity it may be a horse of a different color but for most of us on here not reaffirming gives us the option of being able to stay and pay and still be the 'owner' of our home but also be able to walk away if 'lightning struck twice" and there was a financial disaster, etc. This thread started by one of our attorney members has some great reasons why most (if not all) people should not reaffirm a mortgage: http://www.bkforum.com/showthread.ph...-very-bad-idea

RE: Sallie Mae I am not sure about the interest rate - maybe make a thread titled something like: Sallie Mae Interest Rates After Chapter 7 Lots of folks here have student loans and might could help you that wouldn't look at the end of this longer thread.

[professorkev]

We have alot of equity in our home, never late on it or any trouble with the mortgage. Wife is on it and she id the primary income in the home (and perfect credit)

Why not reaffirm it?

As for student loan, when they reinstate it does it go back to the original terms? like my 1.75% rate.

[ValleYum]

I was in deferment before the BK till September. Either way I will just contact them soon and see whats happening. Better not lose my 1.75% rate.

Call mortgage lender today to provide Reaffirmation agreement so that should be coming soon.

You are going to reaffirm your mortgage? May I ask why?

And yes, Sallie Mae 'closes' student loans all the time during the pendency of your BK. Trust me, they never forget to 'reopen' them after your discharge though!!

[professorkev]

I was in deferment before the BK till September. Either way I will just contact them soon and see whats happening. Better not lose my 1.75% rate.

Call mortgage lender today to provide Reaffirmation agreement so that should be coming soon.

[Pizza]

YEah but Sallie MAe reporting balances on credit report as Zero now. Maybe they discharged them afterall {dreaming}

Absent some direction from the issuer, I would continue making payments as agreed, on the same due date as before. No matter how they are reported, you can count on them NOT being discharged.

The only thing that could possibly happen is an automatic deferment; in this case, interest would continue to accrue. You don't want to go into default.

[professorkev]

YEah but Sallie MAe reporting balances on credit report as Zero now. Maybe they discharged them afterall {dreaming}

[tobee43]

it's most common after filing that on line access is denied with most accounts in general.

thanks for shaving your 341 meeting, sounds like it went well! good point, it's always there actually to be early if you can and sit in on a few 341's so you know the drill. we couldn't do that tho, since we were called first.

[professorkev]

Is it comon Sallie Mae Student loans closes your account? Just got notice on Credit Karma and When I log into Sallie Mae it says nothing and TO CALL SALLIE MAE

[professorkev]

Wow that was strange. My meeting is over with. First I got there early 45 minutes; I'm lucky because I work kitty corner from the Federal Building. I listened to 5 meetings then they broke for the next trustee in 20 minutes.

So our group had maybe 8 Bk'ers all with attorneys. Never heard about amounts and such. Typical questions in the Trustees recorder. YOur Signature, your BK paper YOur Tax return. Do you own a house- YES YOU have two cars both in your wife's name-Yes Employed-yes Where-Acme Company. and then "that concludes our meeting."

I was expecting a UST office person to be there to grill me on the huge credit card debts and why. I was expecting them to ask why my wife isn't part of this(because its all me) I was expecting to hear about reaffirming my house and value of my house. I was expecting to hear how I got all those credit cards (blame creditboards) Not a single question like nor my tax refunds 2011 was $5k this year 2K. I expected to be abused more and grilled till I break down in tears I guess. Hell never a question about my checking account or anything like that. MAkes me worry that it was too simple that they'll be filing other issues/requests down the road.

Attorney that came to represent me does the hearing for my lawyers office. He's retired for 10 years, still sharp and nice, I was told he was the best in his time. He told me he use to be a trustee for 12 years as a side gig. Stated theres little money in it for full-timers. Also stated he use work for banks to go after Bker's who had highly questionable financials in their Bankruptcys. He further stated there's no need to worry, no assets that warrant a creditor to file an objection and such.

Was I nervous going into the meeting? very VERY little. I was open and honest about everything in my petition (left out 2 prepaid cards I had last here with $125 of value that I used)
Like the lawyer and I both said - It is what it is; nothing more.

I will repeat this - BE THERE ON TIME. 2 people were late, one contacted lawyer she was stuck in traffic and walked in just after her meeting started with her attorney present. We had a traffic jam on the highway today causing 15-20 minute delays (that's unusual here) I will always tell people, be 45 minutes early! also I think I heard one girl who didn't have her license, just SS card (thought to meself "are you fing kidding me lady"

[mlsj2009]

Great thread! I am a legal content writer for bankruptcy attorneys and I come on this forum to get insight and ideas for creative writing to meet the needs for those of you who file for bankruptcy. I read content in this forum almost five days a week, and I might add, it is an awesome tool for information. Professorkev, you have asked some excellent questions in your quest for information, and you responders have replied with great insight in trying to help. Thank you all for your participation in this worthy endeavor. Good luck to you Professorkev in you Chapter 7 bankruptcy. I know everything is going to work out better for you in the end.

Thanks too for all the attorneys, like despritfreya, that take the time out of their busy schedules to help those in financial need on this forum. I have learned a great deal about bankruptcy by just reading through these threads.

Thanks.