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

Welcome to the Bankruptcy Forum. Bankruptcy (BK) Forum is known as 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: (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 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

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 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

Filing BK7 That Includes House and Unsecured Debt: When to Move Out??

  • Filter
  • Time
  • Show
Clear All
new posts

  • Filing BK7 That Includes House and Unsecured Debt: When to Move Out??

    I will be filing a BK7 in a few days, and I believe that I have a a pretty good idea of what to expect overall since I've been researching on my own for several months. I stopped making mortgage payments 11 months ago, and only just received the Foreclosure Summons about 2-weeks ago. I do have an attorney who will be working with me on the BK. My issue is currently about the best or most appropriate time to move out of the house since I'm anxious to relocate to an apartment.

    My attorney has told me that I can move out any time I want, but I'm skeptical.

    I cannot save nor do I want to keep the house--too old to fix up or rent out, too much work, not enough finances to cover everything on a single's income, unable to sell at any reasonable price due to extremely low market value(s), and owe over $62k on a $60k Equity loan. My house with an attached property is likely valued somewhere between $40k and $50k since surrounding properties are selling for as much. Two years ago, the place was appraised by the bank for only $70k! I'm not rich by any means--far from it, and most of the little I do have in "assets" are 10-12+ years old (furniture, appliances, etc.). The house is circa 1908 and my car is only worth $6200. I've been drowning in bills and other headaches, so I've chosen to file the BK and start fresh.

    I just want to know when it would be best to move out without causing additional problems. Any thoughts, advice, or anyone with experience would be helpful.

  • #2
    That depends on your own needs and goals.
    Firstly, can you exempt all that cash you haven't been spending? Let's assume you can.
    Many choose to live rent free for absolutely as long as possible and maximize their emergency/new home/savings/whatever fund. Others want to just move on and get their new lives going. You could conceivably have YEARS of free living in that house. Many here have.
    I think a lot may depend on how long you think it will take you to find a place to live. Have you started looking?

    Keep On Smilin'


    • #3
      First step is to be sure to cover you car and cash. As for the house, it is up to you. Since it is underwater it is not likely the trustee will try to sell it. There is always a chance these days for trustees to try a carve-out but not likely worth their time given the value of the property. If you want to stay as long as possible, I would list my intent in the BK petition the equivalent of as 'stay and pay'. Then work the bank to delay the foreclosure for as long as possible. Build up money to fund your fresh start. If you don't want to stay, your attorney is correct: you can leave any time you want.
      Chap 7 Non-consumer --Realized headed for bankruptcy Nov 2010 --Started planning BK7 Spring 2011 -- Filed Sept 2011 -- 341 & Continued 341 Meetings Nov 2011 --No Asset Case Nov 2011 --Discharged Jan 2012 --Closed Feb 2012


      • #4
        Thanks for your reply. I'm sure that I can handle the cash situation. My attorney has already advised me about it. Under any other "normal" circumstances, I'd likely stay for as long as possible, but the place is too distressed and distressing. I really need to get out of the place badly...for my mental health. I've been holding off on filing and/or moving for some time due to personal family issues, but I have been looking around for an apartment. I figure that after I file, my search will be more intense, and I hope to be out sometime between June and July. It would just feel weird in a way to move out when I'm in the middle of the BK process, which was my main concern. What can I take with me on the move that wouldn't be scrutinized by a trustee in some way? Do I just take what I need, or leave everything and start over from scratch?


        • #5
          Thanks for your reply. My attorney told me that he can cover the car and that I should watch my cash to keep it within means or below.


          • #6
            Originally posted by GrnEyedLady5 View Post
            What can I take with me on the move that wouldn't be scrutinized by a trustee in some way? Do I just take what I need, or leave everything and start over from scratch?
            I don't see how BK would affect what you take with you. I wouldn't sell any of it as those proceeds would belong to the trustee. If anything leaving anything behind could be view, I suppose, as abandoning it. I think that is a stretch. If concerned, wait until after the 341meeting to see if you are a no asset case to be safer wait until after discharge. Check with your attorney to be sure.
            Lawyer - $3000
            Filing fee - $299
            Fresh Start - Priceless


            • #7
              First things first. Make sure you exempt what you can. Then, upon filing, I strongly suggest not moving until after your 341 at the earliest. If there is any chance of being an asset case or any other complication, wait until after your discharge.

              In the meantime look for a place you like and can afford. No rush. Realize that a rental property might want a larger security deposit because of your BK. Be up front with them about your situation so they don't pull the carpet from under you as you are moving in.

              Don't sell anything once you file, and I suggest that you don't do so before you file, either - just more paperwork to do if you sell stuff. After discharge you can do whatever you want.


              Unconfigured Ad Widget