It's simple... you list the Statute or (State) Constitutional authority that grants the exemption. Property is listed on Schedule A or B and then exempted on Schedule C.

For example, Florida has a Constitutional unlimited homestead exemption under Fla. Const. Article X Sec. 4. If I'm exempting...

When the Chapter 13 drops off after 7 years, you could be in the 800s. That's 100% achievable but it depends on your post-Chapter 13 behaviors.

I stay in the 740-780 range, and that's mostly because of a new car, house, and my relatively young credit profile (AAoA of 3 years 4 months, even...

You question seems to be cut off.

Welcome to BKForum!

It's sad to read of your ailing parent. I don't have any an opinion, either way, on whether the Trustee would fight a plan adjustment. I would only hope that the Trustee is compassionate and there is an ability to accept these new expenses.

If you are keeping the vehicle you must determine whether a.) the lender requires a reaffirmation, or b.) allows paying without a reaffirmation. Additionally you should look to see if you can redeem the vehicle. Redemption can save thousands of dollars if you are upside down with the loan. I don't think...

Thingshappen I don't know if you know this, but you can sign up for the BNC to send you any notices that have been "served" on you.

They changed how it used to work. Your local court should have information on the "debtor" bankruptcy noticing program.

If...

The Trustee (and perhaps your attorney too), will use your prior tax returns to determine your actual average monthly tax rate....

It's hard to predict because of the many factors that go into a bankruptcy. A person that files and had a 820 score with no late payments or any adverse information, might see their score drop 200+ points to something below 620. A person with a 650 score may see their score go down to 550+. Too many...

We all do and we're here to try to answer any questions that we can.

FICO compares "like" debtors. You are being scored against others with a non-discharged bankruptcy. The other several different types of buckets. A bucket for those with 1x90 day late, one for those with a discharged bankruptcy, those without any bankruptcy or any late payments. It's a very...

Those are good stores to exit Chapter 7 (or Chapter 13). One problem that you may experience is that you will get re-bucketed after the discharge, and definitely rebucketed probably at 2-years post-discharge and then when it falls off.

But don't worry about your FICO score right now....

Sounds like a plan!

Just know that it doesn't mean, even if you are contributing 10% to a 401(k) plan, that a Chapter 13 Trustee won't complain about the savings rate. There are factors which could compensate such as an older worker, close to retirement, with little to no savings.
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Only do this type of bankruptcy pre-planning if you speak to an attorney, you are using that attorney to file, and that attorney agrees. As flashoflight stated, the Chapter 13 Trustee will not like that you're changing your expense profile to "remove" otherwise disposable income from the bankruptcy...

A debtor can propose any plan up to 60 months. The 36 versus 60 months is just the "minimum" plan duration for under-the-median and over-the-median debtors, respectively.

Also, just because you owe $40K to unsecured creditors does not mean you must pay them back at 100%. It will...

Liens are generally "perfected" when they are recorded in the public record. Consensual just means that it wasn't from a judgment. In other words, a consensual lien is just one where you pledged all/a/the property as collateral for something (such as a loan). A nonconsensual lien usually comes...

If this is over a vehicle, the creditor won't be shocked. If it's an institutional lender... they do this all day every day. They will (likely) only pause the current state litigation and then object to your confirmation of plan. They'll probably object even if the plan a.) addresses any arrears to...

A lien, is lien, is a lien. The question as to the impact on a Trustee sale would be whether it's a consensual lien or whether it's an avoidable lien. The Trustee has some strong-arm powers that allow them to avoid certain liens against property of the bankruptcy estate. Whether or not your (hypothetical?)...

Answer the phone and tell them that you filed bankruptcy and then tell them the case# and your attorney name.

Correct. Unless you can exempt all the equity, your "minimum" payment to the unsecured creditors would be that exposed equity.

Correct. You must pay the equity or the total of all allowed unsecured claims, whichever is less.

The bankruptcy court would consider it...