How open are you about your BK?

[ccsjoe]

empowered,

SOI has two parts, one for secured debt (Part A) and one for personal property under unexpired leases (Part B).

[empowered]

I didn't file one with my Chapter 7 and it does not seem to be an issue. I do see other threads in the archive here where there is discussion of renters including the information on the statement of intention so I'm curious to know what the outcome is for you. Thanks.

[debthelper]

There is no reason to be embarrassed about bankruptcy. It is such a common thing, especially now with the bad economy and people losing there jobs. It's not totally the persons fault, it's the banks fault for giving out bad loans and the credit card companies for giving credit with high interest rates to people they know can't afford it.

[sheilaE]

The city where we live posts the names of people filing 7 and 13 in every Sunday paper. There's no way to hide from it-everyone knows.

[ccsjoe]

I didn't file one with my Chapter 7 and it does not seem to be an issue. I do see other threads in the archive here where there is discussion of renters including the information on the statement of intention so I'm curious to know what the outcome is for you. Thanks.

empowered,

My attorney and I decided to leave the lease off the SOI in hopes that the trustee will not notice it. That will avoid the landlord getting the notice and he will be listed only on Schedule G. If the trustee notices, we'll say oooops and see if he directs us to amend. If he does, then I'll have to talk with landlord because he will get notice.

[empowered]

Thanks for letting me know, ccsjoe. I guess it goes without saying that I won't be the only interested party if you get called on the carpet for not listing the tenant's lease among any other leases. As for myself, since I'm basically a no-asset type and didn't seem to have to file a Statement of Intention, it didn't even occur to me that a landlord-tenant lease might have a place there. I mean, tenants' law often defines a default monthly "lease" when no longer-term agreement is in place anyway.

I mentioned in another post along the way that I had realized that my Oakland attorneys failed to include in my CA 13 filing any mention of a rental security deposit -- and how many renters don't have deposits in place??? -- or any exemption to protect that deposit. Nothing was said about that either. For my current 7 filing in another state, I made sure to exempt that deposit.

Since I have absolutely no secured debt, my situation sounds a bit different than yours.

Best.

[ccsjoe]

empowered,

Yes, I am aware of month-to-month tenancy, arms length transactions, etc. I had to learn all about tenency laws in CA when my former landlord got foreclosed on in lat April so I could have a better negotiating position with new owner (failed auction, back to bank) for cash for keys. In any event, yes, we have an unexpired leased running from 05/10 through 10/11, hence why it needed listing. Also, since the security deposit transaction to new landlord was very recent, we needed to disclose it as an asset. Any trustee that is detailed enough will follow the trail. We're hoping not to get called on it, butif we do our attorney says it's not a big deal and likely will not continue the 341 or delay our case. I'l keep you posted.

[needanswers]

Oh no!!!! I hope the papers in my area do not do this, too!

The city where we live posts the names of people filing 7 and 13 in every Sunday paper. There's no way to hide from it-everyone knows.

[readytofile]

My kids, mother in law, sister in law and a few friends know. I have not told my mom or dad as they would've had a cow if they knew. Of course they think that you lose your house, cars and all possessions if you claim. They'd be surprised if they knew the truth but still upset. I prefer to keep them out of my personal business as much as possible.

[kartoons19]

Oh no!!!! I hope the papers in my area do not do this, too!

Not all newspapers list bankruptcies. Even if your local newspaper does list it, I tend to think that most people don't even bother reading through the list of names of people who have filed. I would hope they have better things to do!

[CreditCretin]

We have only told a few people. None of our friends or extended family know. It's not that we're ashamed, but just don't feel the need to discuss it. If they find out, or ask, then we'll address it then. My parents and mother in law know about it and all are supportive. Our teenager knows about it, but our pre-teen doesn't. We told her our "credit cards were broken" and just didn't want to worry her with too much she wouldn't fully understand. I also have told a close trusted friend at work that I have known for years, as they had to file back in 2005, so I could ask for guidance and advice. I think it's really a personal decision.

[tobee43]

we only told who we had to...i would not be likely to discuss my personal financial info with anyone that doesn't HAVE to absolutely know.

too much info on someone gives them too much power over you...is what i have found to be the rule.

[needanswers]

I know I'd never think to check this area of the newspaper before now. But with foreclosure signs littering the yards of so many houses on my street and in my neighborhood, I wouldn't doubt people are looking. (running off to check the Sunday newspaper lol)

Not all newspapers list bankruptcies. Even if your local newspaper does list it, I tend to think that most people don't even bother reading through the list of names of people who have filed. I would hope they have better things to do!

[mummsie223]

My parents know.

We have felt the judgement from one of my friends. :-( Therefore, we have told no one else.

[onwards]

Completely open. Heck, I bring it up anecdotally often enough myself. Clients, colleagues, friends, family... I might as well put it up on Facebook.

But then again, I live by the Silicon Valley, and I'm an entrepreneur. It's a bit like a badge of honor in these parts.