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justbroke
justbroke
Super Moderator
Last Activity: Yesterday, 04:15 PM
Joined: 07-10-2008
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  • The question is, what does the terms of the settlement say with regard to reselling the debt. If it is silent on that topic, then that means that you resettlement was not a settlement without recourse. This is an issue that happens many times. A person settles with a creditor for less than the balance,...
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  • justbroke
    replied to Using cards prior to filing
    Using credit for necessities is generally not frowned upon. However, using credit cards with no expectation of ever paying the debt, is taboo. Most attorneys will tell you that you have to make an effort to pay back the creditors and put some time between the purchases and your bankruptcy filing....
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  • justbroke
    replied to Irritated and Annoyed Rant..
    Prior to plan confirmation, the attorney just submits a new "revision" of the plan. I did this 5 times before confirmation. Once confirmed, however, the process is more complex as it generally requires motion to modify confirmed plan, some negotiation, and usually a hearing, and then an...
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  • justbroke
    replied to Irritated and Annoyed Rant..
    The Trustee's usually send a note, of sorts, to the attorney with all the things that they want corrected in order for a recommendation for confirmation. It's a lot more detailed than anything that happens at a 341 Meeting. Chapter 13 Trustees can be tough especially when they believe that you have...
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  • Not if the offer is reasonable. Put it this way, Chapter 7 Panel Trustees like cash over property, because property requires them to try to sell (liquidate) the property. If you are filing with an attorney, your attorney will suggest the appropriate offer for the Trustee. If you are thinking of filing...
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  • As you start planning for bankruptcy, your mobile home question is definitely a reason to get 3-5 free consultations by an Ohio bankruptcy attorney. I did a quick glance at the Ohio exemptions (2329.66(A)(1)(a)), and mobile homes, while they are personal property, can be claimed as your residence....
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  • The UST is interested in all over-the-median and non-consumer cases. They will definitely review your petition. Whether or not it piques their curiosity is too fact and debtor-specific. Expect that the UST will want documents which clearly show that the debt is non-consumer in nature and that you...
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  • From my experience, the United States Trustee (UST) is either very interested in your case, or not at all. As des writes, any objection will be because there is some cause as to why you should not be allowed to obtain a discharge under Chapter 7. This is a much different process, in my book, than...
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  • justbroke
    replied to Loans to family
    First, a Chapter 13 is entirely different than a Chapter 7.

    I think that your question comes down to whether the loan proceeds were a gift to your daughter and whether or not it was more than a modest amount. I can't define modest, but the Statement of Financial Affairs (SoFA) specifically...
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  • justbroke
    replied to Tax return stuck..
    There are plenty of companies that buy "portfolios" of bad debt which may include debt included in a bankruptcy and/or subject to a bankruptcy discharge. These large junk debt buyers (JDBs), as they are known, buy these multi-million dollar portfolios for literally less than 5 cents on the...
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  • That's exactly the way it works. If you have exemptions that would protect the property, then your attorney will exempt them on your Schedule C. Unless you have a lot of other property, I think you should be able to fit those into your wildcard and personal property exemptions. Remember the neither...
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  • I think you're good in everything that you have put forward. You should continue to live, with your last paychecks, before filing. Pay your rent, purchase food and necessities, go about your education.

    The only thing that would be questioned, as I wrote, is if you had $50K in the bank...
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  • It depends. First, I hope that you told your attorney all these things, or at least prior to filing. They could be entirely protected under your State exemption scheme. Or, In personal injury settlements, the wording of the settlement may matter. If the money is just for general purposes, with no...
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  • I don't think anything that you're doing is questionable. They are all 'reasonable" expenses for your health, safety, or welfare. Education is arguably part of your welfare (to gain employment, improve yourself, learn more, earn more).

    The only thing that a Trustee will look at,...
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  • Purchasing things necessary for college is not an issue. You haven't even filed. (If this money came from loans, scholarships and/or grants, they are for your educational needs and buying supplies is perfectly fine.)
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  • Sounds like a plan, WorriedGuy. Stop worrying!
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  • Is your grandfather a co-signer or a guarantor? Regardless, the creditor could seek to collect from your grandfather... but let's not jump ahead to the outcomes.

    Your tuition payment should be fine, just as your lawyer indicated.

    As for what will happen to your grandfather,...
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  • justbroke
    replied to Am I going To Jail?
    You are allowed to list "household" income on just about all cedit card forms unless the creditor asks solely for the income of the applicant (primary card holder). Even in those cases where the creditor asks for the applicant's sole income, they usually also ask for additional household income....
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  • justbroke
    replied to Means Test Question
    Yes, you get both deductions because if you have a Mortgage, then it will likely erase everything on line 9 because you have "debt" on line 33. I know it's counter intuitive, but it's to make sure you receive the entire deductible IRS standard OR your actual payment, whichever is more. (Although...
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  • justbroke
    replied to Next Years Tax Refund
    If you have available exemptions and are able to exempt cash (or a tax refund), then you should claim the available exemption on your Schedule C. If you file in July, it would be prorated. You would exempt either 50% or 58.3% of your "anticipated" tax refund, based on whether you filed July...
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