justbroke
Super Moderator
Last Activity: Yesterday, 08:46 PM
Joined: 07-10-2008
-
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...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....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... -
Very nice. Congratulations on the discharge.Leave a comment:
-
I could not tell you. I don't practice law in either.Leave a comment:
-
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...Leave a comment:
-
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...Leave a comment:
-
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...Leave a comment:
-
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%....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...Leave a comment:
-
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?...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.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....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...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...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...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...Leave a comment:
-
Congratulations on taking the initiative to retrieve the Order Vacating Wage Deduction Order and getting it to your employer!Leave a comment:
-
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...Leave a comment:
No activity results to display
Leave a comment: