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justbroke
justbroke
Super Moderator
Last Activity: Today, 04:44 PM
Joined: 07-10-2008
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  • If you are using System 1 to protect a home, you'll find that the exemptions for other personal property are not as nice as California's System 2. That's all I'll say about that.

    I have never had a creditor (except a mortgage creditor) file a lawsuit against me. I have never been 31 or...
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  • justbroke
    replied to Available Credit
    I think it weighs available credit versus credit in use. In other words, cumulative utilization across all cards. So you take the sum of all credit limits and then divide it by the sum of all balances to come out with an "overall" utilization. FICO and Vantage both look at the individual card,...
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  • justbroke
    replied to 4 Credit Cards???
    I rotate them to avoid getting them close for not using them. My FNBO Visa was summarily cancelled because I hadn't made a charge in 2 years on a no-annual fee card. I also had Capital One do it to me twice. I would say at least once a year or maybe every six months to sprinkle some love on the other...
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  • Very nice to read that your lawyer has helped to relieve your stress.
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  • As shipo has written, its time to obtain a few consultations with area bankruptcy attorneys. Always be careful when selling property before filing. That could become a transfer which the Trustee will go after.

    As for exemptions, they will be based on which exemption system you choose...
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  • Welcome to BKForum.

    Generally speaking, the Chapter 7 Trustee will seek anywhere from 3 to 6 months of financial account information for every account that you have. They are actually trying to determine whether you are hiding money or move money before filing. I'm 99% sure that they will...
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  • justbroke
    replied to Done, Stick a fork in me I am done!
    Congratulations! I'm glad to see that your Salmon run is complete! Go forth and enjoy your fresh start!

    (I can't believe it's been five years. Time is certainly moving quicker than anticipated.)
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  • I don't believe the principal from a money-market account is income for purposes of the Means Test. Now the earnings/interest on an MMA would be income. It would make me wonder if the earnings were too negligible for purposes of the Means Test. Especially over just 3 months.

    That's just...
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  • justbroke
    replied to Apt leases
    No, there is no renew option. The options for an unexpired lease are assume or reject; in other words, keep the lease or get rid of the lease. Generally speaking the landlord is likely to keep you if you pay and you "assume" the lease. They key is to never miss a lease payment and never ever...
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  • justbroke
    replied to New here
    Sometimes, just filing will make you feel 1000% better. I remember the day that I filed my petition with the bankruptcy court. I had a big smile on my face as I walked out the courthouse doors. Yeah, I only had $20 in my pocket and it would cost $32 to get a ride back home... but I felt great!
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  • justbroke
    replied to New here
    You are among friends here. Continue to ask any questions that you have. You may even vent here. Bankruptcy does seem overwhelming but the benefits are tremendous.
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  • justbroke
    replied to Apt leases
    This is not true. In a Chapter 7/11/13, an unexpired lease must be listed on Schedule G and the debtor must, on their Statement of Intentions (SOI), indicate what they want to do. Those options are assume or reject. If the debtor doesn't do anything or put anything on the SOI then it is rejected....
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  • Oh. Then you are fine because your answer to the question "Does anyone owe you money?" will be a resounding, "No." The Trustee could only seek to collect on those loans if they were still outstanding and due.

    I was worried when. you said "but they always paid me...
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  • If this was for de minimis amounts ($20 here, $10 there), I don't personally think it would raise any flags. But if you loaned hundreds or even thousands of dollars, those outstanding loans may be property of the bankruptcy estate. I don't know if it would go on the Statement of Financial Affairs (SOFA)....
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  • Most people pay their attorney by stop paying their creditors.
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  • Nearly everyone will say to stop paying if you're about to file. Of course that's up to you. Some people want to keep current all the way until they file. Others know that they are just throwing money away.
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  • justbroke
    replied to Experian Weirdness
    See my thread on how the "early exclusion" works for the bureaus.
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  • justbroke
    replied to Release of Title
    Technically a bankruptcy doesn't make debts go away; it simply prevents a pre-petition creditor of a discharged debt from using legal means to collect from you personally. That's known as the permanent discharge against collection. When it comes to secured debt, such as vehicles and homes, it is important...
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  • There is actually a very good one at Legal Consumer so I'd recommend people only use the Legal Consumer site. Legal Consumer also has a decent Means Test which will attempt to give a very general Means Test outcome.

    I would only use the Legal Consumer calculator. The lookback is rather...
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  • justbroke
    replied to Trustee Approval For Auto Loan
    You're in a Chapter 13 so getting another attorney can be expensive since you are post-confirmation. The motion isn't filed until the Trustee has concurred. Typically the debtor, through their attorney, will fill out a form asking the Trustee if they'll approve the new debt. Then the Trustee would agree...
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