Announcement

Collapse
No announcement yet.

User Profile

Collapse

Profile Sidebar

Collapse
justbroke
justbroke
Super Moderator
Last Activity: Yesterday, 08:46 PM
Joined: 07-10-2008
  •  
  • Filter
  • Time
  • Show
  • Source
Clear All
new posts

  • justbroke
    replied to Ch 13 discharge
    Excellent!!!
    See more | Go to post

    Leave a comment:


  • justbroke
    replied to Reopen chapter 7
    I don't see how this would work. If everyone could reaffirm a debt at current market value at the time of filing a bankruptcy, then this wouldn't be a fresh start but a head start. It is well known that appreciation of an asset post-petition may not be protected. See Wilson v. Rigby, 909 F.3d 306 (9th...
    See more | Go to post

    Leave a comment:


  • I moved your post here, since we like to keep political discussions away from the core bankruptcy discussions. I'm sure shipo has some things to say. Let me say this... it hasn't affected me yet and I'm not going to worry about the trade negotiation and strategies employed by incoming administration....
    See more | Go to post

    Leave a comment:


  • Political Discussions (2024)

    BKForum would like to limit all political discussions to this Topic.

    We understand that we are living in very politically charged times of outrage and unrest.

    No matter what your political views are, remember that our forum's primary purpose is to be the place to help each...
    See more | Go to post

  • justbroke
    replied to Making Payment 60
    Very nice. Congratulations on the discharge.
    See more | Go to post

    Leave a comment:


  • justbroke
    replied to Bankruptcy and Probate
    I could not tell you. I don't practice law in either.
    See more | Go to post

    Leave a comment:


  • justbroke
    replied to Bankruptcy and Probate
    Welcome to BKForum.

    Generally speaking, a creditor can only get to real property if the underlying state non-bankruptcy laws allow this. A creditor that has a consensual lien against your property--you specifically pledged your property to guarantee or "secure" the loan--will...
    See more | Go to post

    Leave a comment:


  • justbroke
    replied to Ch 13 to keep business?
    I'm missing something. A business entity (LLC, corporation) can't file a Chapter 13. If you have a medical services business, I'm sure that it's not operating as a sole proprietorship. If it's a corporation/LLC, then I don't know why an individual needs to file a Chapter 7 followed with a Chapter 13...
    See more | Go to post

    Leave a comment:


  • justbroke
    replied to Virgo
    Being in a Chapter 13 is no different than in life without one, with one exception. The exception is that you can't use credit as a crutch and you are forced to pay your creditors (via the Trustee) on time. That's it in a nutshell.

    Life without credit can be done. During my Chapter 13 I...
    See more | Go to post

    Leave a comment:


  • justbroke
    replied to Ch 13 to keep business?
    Welcome to BK Forum.

    First, don't be afraid of a Chapter 13, and most people actually complete a Chapter 13. It's just that a high percentage, near about 40%, fail to earn a discharge in a Chapter 13. (The successful rate was 56% in 2022 and some districts have success rates of near 90%....
    See more | Go to post

    Leave a comment:


  • If they were not in the plan then how did they owe the Trustee money? Did the Trustee accidentally send them a payment? If the trustee did that, then your mortgage account had an extra payment.

    I don't know what bankruptcy law was violated. Do you know which section they violated? I'm interested...
    See more | Go to post

    Leave a comment:


  • justbroke
    replied to Virgo56
    I am sure everyone that has been in a Chapter 13 experienced various issues that arise just because life happens. One week into mine I needed four new tires. Then about a year in I needed to replace a sewer line that was under my concrete driveway.

    Was it a "horrible" experience?...
    See more | Go to post

    Leave a comment:


  • Yep, new agreement. I had to start a new one as well. The 2019 and 2020 taxes should be dischargeable and discharged if they meet the criteria.
    See more | Go to post

    Leave a comment:


  • If you have an attorney that will argue the special circumstances then you will be able to at least argue the point. I'm just more worried about a Chapter 13 and how they'll treat it in a typical Chapter 13 plan with the lease ending during the Chapter 13....
    See more | Go to post

    Leave a comment:


  • The lease seems to be just about 3 years away unless it ends in early 2027. If you end up in a Chapter 13, as mentioned, they will want the lease to go away and then contribute the $1,000+/month towards the plan. Of course this is just my view from 10,000 feet above. Your consults can get into more...
    See more | Go to post

    Leave a comment:


  • You can't keep anything out of a Chapter 7. What despritfreya mentioned, and I didn't reference, is that your lease will end at some point (probably soon). The lease you'll have to accept (to continue) or reject (to get rid of the lease).

    While the vehicles may are not actually "luxury...
    See more | Go to post

    Leave a comment:


  • A $1,040/month car payment is going to be a problem no matter how you slice it up. As shipo mentioned, you should obtain 3-4 more free consultations to get their take. A payment over $619/month is a "luxury" car and bankruptcy is the antithesis of luxury. In a Chapter 13, a trustee is not...
    See more | Go to post

    Leave a comment:


  • As shipo says, so long as you can manage those cards by paying them off, it's no issue. However, I had an FNBO American Express which was converted to a VISA. It had a $5K limit. I didn't use it for a year and they summarily cancelled the account due to non-use. There are creditors that don't like credit...
    See more | Go to post

    Leave a comment:


  • Congratulations on taking the initiative to retrieve the Order Vacating Wage Deduction Order and getting it to your employer!
    See more | Go to post

    Leave a comment:


  • justbroke
    replied to End of 5 years
    Definitely start chatting with your attorney to make sure you have a smooth transition. This is especially important if you have a wage deduction order in place and/or are paying a mortgage through the trustee (inside the plan). You generally cannot directly contact the trustee as they will refer you...
    See more | Go to post

    Leave a comment:

No activity results to display
Show More
Working...
X