Barbisi I watch some low viewership Youtube videos from landlords and flippers. I've learned that it's hard to make a profit but easy to lose vast amounts of money on a flip even without going HGTV. I totally understand why the bad flippers will use the cheapest contractor grade stuff because the line...

bornfree2

Here is a succinct explanation of the differences between chapter 7 and 11.

Chapter 13 is a much more awesome tool than chapter 11. A trustee distributes the available funds based upon fixed rules regarding income and non-exempt assets. Meanwhile, the unsecured creditors...

Combined with the 2021 expansion of the $600k California homestead exemption, high income Californians can often completely protect their homes from creditors and resolve their unsecured debts with whatever is left after allowed household expenses and the fat mortgage payment. Not possible in chapter...

Great news. A lot of mega size judgment buyers are probably crying today. Having large student loans won't inhibit the ability to file CH13 anymore. Credit card companies with a POC of $25000 will get $15 monthly checks or no check at all due to not meeting trustee minimums. They were benefitting from...

But the city wanted the weeds done days after the letter was put in the mail?

Is it possible the city has a drone? My city has lazy workers so it would have to be a snitch.

I'd do all of the cheap and easy remediation slowly with the main goal to put off the roof as long as...

Chex works with a non-discharged CH13 as well. Before you file, get your Chex report. You need your report number. The day after you file and get your case number, you can ask Chex to remove all of the baddies since the underlying debts are in the CH13....

It's not personal. Landlords have an easy time choosing from multiple applications and all of them may be great tenants. LA County has an eviction moratorium too so landlords there probably won't take upfront rent. Many also fear the return of eviction moratoriums if outside of LA County....

There is not much we 1% folks can do. Make sure you've already completed the 2nd BK course already and filed that with the court, save money for any potential shortfalls in the plan or mortgages, and make the final payment early but not too early. If the date date is the 5th, make the final payment...

The amount of non-exempt equity sets an extra minimum floor as to how much you have to pay into a chapter 13 regardless of future circumstances such as additional loss of income, death or disability of an income earner, etc. Chapter 13 is a giant math problem and hopefully you have enough remaining...

I've had problems with my longtime bank of nearly 30 years as well and used the bankruptcy to clean up my Chexsystems so I could leave them permanently ASAP. After I left my bank, I found that banks are disposable entities and I need to fire them a lot sooner. Loyalty with banks, credit unions, and...

It does sound like your attorney knows she cannot reduce your payment any more due to the math dictating the absolute minimum you must pay to unsecured creditors and the dwindling time remaining in the plan. Plans cannot exceed 60 months anymore ever since the bankruptcy related provisions of CARES...

Sorry to hear about everything you're going through. There are a lot of moving pieces. But to put it all together, chapter 13 is a giant complex math problem where your income needs to pay household expenses, secured debt payments, and resolve secured arrears within the 5 years. If you have non-exempt...

I get junk mail from all of the home equity investment places including Point. Unfortunately, they are all terrible deals equivalent to a 15% rate on a credit card. They will end up taking a disproportionate greater share of the equity relative to net cash received and take the appreciation in their...

If the 401k loan payment happens to approximate the 401k contribution, I don't think the trustee is going to care enough to make you submit a new budget if he or she is the reasonable type. That would avoid the legal fees from having to submit a motion to modify plan. You want your attorney to tell...

Why are you doing a 13 instead of a 7?

I have a 1% case so it was a problem....

I ran into this issue with my own adversary and we foresaw it prior to filing the complaint. I'm not at liberty to talk about how I dealt with it. But des is right that it is a problem and you should expect to turn over the money to the trustee unless you and your lawyer work it out.

You can't use direct deposit. You have to be on the account and they check for that before starting the direct deposit. If you have a paper check, you can go to a check cashing place or deposit through your spouse. If you deposit through your spouse, have your spouse take every last cent out of the...

Keep looking for a room to rent in a house (I would not share an apartment because the math doesn't pencil out if you want the rent as cheap as possible). In California, it's not uncommon to see bunk beds in a 5 bedroom single family home, converted garage, 6+ cars per house using up precious space...

In California, state law does not protect IRAs adequately from creditors. Debtors can shield the IRA by claiming the IRA is needed for the support of the household. What actually happens is that anyone who isn't drawing on the IRA will forfeit to creditors. Judges feel anyone who is still working can...