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About sc1776

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    Ask And I'll Tell You :)
  1. Yeah there is NOTHING in the judgement that I saw or that the attorney I met with yesterday saw that alledges fraud. I absolutely did not commit fraud. The deal just went bad...the price the units were set to sell on was just too much for the declining market...and as everyone knows the market just kept getting worse...well no sales means no loan support and then that's all she wrote... Thank you both for responding...I've said this a thousand times before but this has to be the scariest thing I have ever been through / faced...but just starting this process I'm starting to see that there'
  2. Des- Are there different kinds of "judgements" for the same case? I met with my first attorney today and he said the only kind of judgement that can not be discharged is one that alleges fraud...I know there was no fraud for any of my cases, but he has put a bit of fear in me b/c he said that sometimes lenders will alledge this even when there is no fraud just to avoid discharge...So now i'm freaked out....i found a copy of the foreclosure judgment where they came up with the final "number" that is owed...but this was pre-sale of the property i think...but it still says "final judgement" c
  3. Des- You couldn't be more correct. I have not interest in trying to navigate this by myself. WAY to much at stake...I have spoken to 2 attorneys to date (stupid weekend) said that $$ after marriage might be at risk, and only half of it at for example if my spouse had 20K before marriage and there was 10K acquired after marriage, then only 5K of that 10K would be at risk, my "half"...the other was not concerned at all about the $$ and felt that it would not be in jeopardy. When you say "we came in to do damage control" what does that mean? Are you an attorney? You sai
  4. Des- I mean this with the utmost respect and LOVE but I hope you are wrong LOL...Please understand that I am not trying to argue with you, so I hope that my comments back and forth don't come across that way. I'm just trying to add in things I think of to hold out some hope, to try to figure out how to salvage what my spouse worked so hard to build up before we were married. None of this was their responsibility, I NEVER would have gotten married if I had known there was even the slightest chance of ANY of this coming back on my spouse...I wouldn't be surprised if my spouse divorces me f
  5. Des - So are you saying that in my situation a bank account that a spouse had with any money in that account before we were married is fair game? I spoke to a new attorney today and he said if the account was in the spouses name and the spouse had the account before marriage and it was money that the spouse had before marriage and any money deposited after marriage was from their job that they earned (which is all true) that those accounts would be safe...He essentially said that the spouses money is the spouses money...could that be because of the community property rules of the particular
  6. Des - I know that I have been "drip feeding" info in the thread. Part of that is b/c I'm not always sure what's relevant, I'm learning how to ask the right questions...As I mentioned in the thread I recently learned that the state I'm in has community property law applications...making the protection I thought I was giving my spouse FAR less effective than I hoped. That said my spouse had set up a biz for me in his/her name so that I could possibly generate an income without getting on the creditors radar. Giving me a chance to generate some revenue for attorney's or whatever. The biz wa
  7. Des - I mis-spoke (wrote) I am not in a common law state I am in a community property state...I mixed up my terminology.
  8. Des- You are very kind. And I understand what you are saying. The properties were not transferred to avoid anything. It wasn't a "gift" he was my partner, we made the "transfer" verbally back in 2008-ish when I moved away. We just put it on paper for his peace of mind a year or so ago. I honestly have no idea what happened to the money from the property(s). In the couple of conversations we've had I know he's stated that he had upkeep on them but I'm not sure all of what happened with it. I think he's always been on the deed for the property just not on the mortgages. I did have m
  9. Des- You are 100% correct...the bank was lending for the property and the dev of the when you say: "if your partner collected rents and utilized those amounts for anything but payment to the mortgage lien holders, the Trustee can and probably will seek recovery of the equivalent sum from him." And I mean this politely, I'm not trying to sound rude or flippant, because perhaps I wasn't clear...those other "properties" were not owned by the bank that holds the judgement. Also, how could the Trustee have any expectations of rents collected BEFORE a BK was initiated...I haven'
  10. Yes I am learning that filing before the judgement would have been wiser but that was NOT my understanding at the time. I was always under the impression that worst case scenario would be to file a BK. As like many on here I'm sure that given the info learned and wisdom from hind sight, would have handled things very differently...
  11. TBH I had never planned on going this alone. I'm just here to try to learn more about the situation so I can understand what an attorney is doing or going to do...I'm not trying to drip information on anyone in a credit forum but from what I can see there are a LOT of highly intelligent experienced people here who know a lot more about a lot of topics other than credit repair So if I am understanding you correctly, yall are saying that a BK Chp 7 should wipe out a deficiency summary judgement on a RE transaction gone bad? As crazy as this sounds that would be music to my ears!! I'm
  12. Well what's the point of filing a BK if it doesn't wipe away the deficiency judgement for the real estate investment(s)?? How do I support myself if a creditor can take it all away? Believe me I don't expect nor do I want others to take care of me, that's a BIG part of the problem, that's why I'm here on this forum. I'm trying to figure out how to fix my situation. Just in a really bad place right now and I'm trying to figure out how to make it right...
  13. Des- I appreciate the feedback but the investment opportunity was a bank loan for a property. There is no "dirt" for the investor to tell the Trustee. There was nothing nefarious that went on. There's not "inside information about my affairs" to be hiding. I didn't run a Ponzi scheme for goodness sake lol. When I said I don't believe I have any assets what I meant was that there are a couple of rental properties where I may still be on the mortgage. But CERTAINLY those properties have NO equity and are upside down b/c of the market. And as far as the transfer goes, I honestly don't c
  14. Here's a mini update and I'd love more feed back. To be clear...I DO NO believe I have any assets. I say "believe" because all of the rental properties that I had in my name I assigned to my business partner. Not in any way shape or form to try to hide them but because I wanted out of real estate and he wanted to try to hang on to them until the market turned around. This assignment was done over a 1 year ago and may have been as many as 3 years ago. The mortgages may still be in my name as the agreement was really more of a Power of Attorney to give him control but I'm not sure he actual
  15. I'd love to pull my CR I'm just still trying to figure out if by pulling my CR it puts me back on the radar...I've managed to lay low for a while now and I'd like to continue to do that until I have my best plan in place... So just to be clear you are saying in a Chapter 7 whether you list it or not its automatically included? Thank you all for your input and advice much appreciated!