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flashoflight
Senior Member
Last Activity: Today, 05:31 AM
Joined: 10-25-2019
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  • I think so. Maybe that will discourage unhelpful topic titles like "I'm scared and don't know what to do! Help!"...
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  • flashoflight
    replied to Keeping a credit card
    You can't forget to list a creditor on the petition unless you owe nothing to them. Most creditors monitor for BK filings and will find out anyway....
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  • flashoflight
    replied to Inheritance in active Chapter 13
    IMHO there are two issues. First is the asset coming into the estate prior to dismissal or discharge that was already discussed. The second issue is that we have a liquidation event where you get a check and you are required to devote all disposable income to the ch13 trustee in a less than 100% plan...
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  • flashoflight
    replied to Forbearance & Chapter 7
    Paying the secured debt's regular monthly payments or back payments is not a preference like the forbearance payments. Paying 5 years worth of mortgage payments in advance is most likely a preference designed to hinder and delay your poor unsecured creditors. Your plan to pay the mortgage is fine....
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  • Have you been able to rebuild your credit during the 13 so far? In most districts you cannot incur a lot of debt and of course you shouldn't incur debt at all, but nothing says you can't have credit available and choose not to incur more than $5 worth per month and pay-in-full every month. Don't pay...
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  • I think he suggested you leave ch13 because there really isn't a good way to prevent the settlement from becoming disposable income. It's protected as an asset but when you receive each periodic (or lump sum) payment of the settlement, it's disposable income. Each payment you would need to try a motion...
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  • First, ask your BK lawyer straight up if this mesh class action lawsuit qualifies as a PI lawsuit in Ohio. He is the best person to ask.

    I know about the general reluctance of even good BK attorneys to give any planning advice, but at least he should have given you some hints.
    ...
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  • Usually you should follow your lawyer, but it sounds like terrible advice to me.

    Were you trying to pay the remaining payments on your 1% plan to get out early so you avoid the settlement being part of the estate? You can't do that unless it's a 100% and the trustee is not going to let...
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  • flashoflight
    replied to Disposable income
    No.

    The student loan is an unsecured debt just like a credit card with only one special quality which is it isn't dischargeable. The monthly payment for the student loan going forward will depend on how much of your plan payment goes to unsecureds and what fraction of unsecureds represents...
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  • flashoflight
    replied to Problem with Exiting Chapter 13
    Just being realistic.... there is a limit of how much can be done within the no look fee. I believe this issue would cross that line with a MSC vs. letters and phone calls. Holding them accountable will likely involve a retainer with no option for a contingency fee.
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  • flashoflight
    replied to Filing CH 13 soon
    Can you explain this a little bit more. The trustee will want the same thing. It's once in a lifetime because you decided it was so or is it written in the HR manual like that? You deciding you will never cash it out again isn't good enough. The payout may also be revealed in YTD figures on current...
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    Last edited by flashoflight; 06-19-2020, 07:57 AM.

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  • flashoflight
    replied to Forex/Bitcoin?
    Nobody can invest their way out of debt faster than the interest they are charging you. CalPERS, the huge state public employee pension, cannot guarantee 8% a year, cannot make 8% a year, and worst of all, obligates itself to paying 6% a year. Even legit investments like mutual funds sometimes play...
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