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Everything posted by bingo

  1. BK is worthless unless, you can support yourself post bk. You give no details but at a minimum, you need to have a basic safety net in place. A job and also access to health insurance are a must in my opinion. Next, time to see that your GF is helping with the bills. If your sister is not in school, she needs a job and help out as well. You're really not helping anyone {yourself included} if you're supporting people able to work but for whatever reason don't. Odds are, you'll qualify for a Chapter 7 but, just be sure you structure it so you'll get the biggest benefit. Most lawyers give a free or low cost initial consultation. Speak with a few and get all of your options explained.
  2. I'd not play the bk card prematurely. Get a job and make sure you have health insurance prior to filing. Have a basic safety net in place. You don't want to fie and 6 months later get ill or have an accident and end up with large medical bills and already played the bk card.
  3. Just follow your lawyers advice. The bk court will notify the lender of the bk filing. They'll likely withdraw online payment access until discharge. If that happens, contact the lendes bk dept. and get a mailing address and send a check.
  4. WHy do you keep saying you'll have to file with him even though you have no debt? Don't let his financial issues become your problem. Stop paying the mortgage and just move out. Depending on your state law, it'll be many months to prehaps years before the bank gets around to foreclosing. Most bk layers will give a afree or lowcost initial consulation. SPeak with a few and see what they suggest. While your income must be disclosed, you also deduct all expenses you are liable for in order to get an idea if, there is enough income to fund a Chaper 13.
  5. Wait a minute guys. The BK Reform Act of 05 put private student loans on the same footing as federally backed student loans. They are not discharged by filing bk unless, you file an adversary proceeding and, properly notice the lender so they can object to the discharge. Just like federally backed loans.
  6. Co. has some very generous bk exemptions. Doesn't look like the home is at risk. http://www.thebankruptcysite.org/exemptions/colorado.html Most bk lawyers will give a free or lowcost initial consultation. Speak with a couple and see what they suggest.
  7. What state does your mother live in and how much equity in the house?
  8. Paying off a secured creditor isn't a preference issue. If she insists on reaffirming and is pro se she'll have a meeting with the bk judge to determine if a reaffirmation agreement is in her best interest. What's the amount owed and from whom are they financed?
  9. Good lord! WHat is this too afraid to work nonsense? First thing I'd suggest is getting a job and have the ability to support yourself post bk as well as money to pay a lawyer.What good is a bk filing if you still can't support yourself? You can't expect others to take care of you forever.
  10. Why are you digging up old posts and posting the same nonsense time and again?
  11. I apologize but, your posts are just confusing. As Art just said, the roommate rent checks aren't income to you since you pass that along to the LL. Your income is the $1900/month from your job. Using the numbers you posted about your car and insurance and the $400/month rent-those items alone are about 60% of your takehome. That's high.And, you still haven't paid utilities, cable/internet, phone, food, auto maintenance and all the other things we spend money on. The best way to find out if bk will really help is, just stop paying all those debts you wish to discharge and use that money to support yourself. If you still struggle, you have a problem bk can't fix.
  12. That's not what he posted in #18. Income: 1937.26 after taxes + 510 one roommate pays me +450 the other roommate pays me (I then pay the landlord) = 2897.26
  13. I don't understand why you think money you get from roomates is really income since you turn around and pay the LL nearly $3K. I'm not being judmental. Heck, I bk'ed $71K worth of cc debt in 05. I had no real excuses for running up that much debt except, I had "champagne taste with a beer budget" But, I had a plan before I filed to be sure my problems were fixed. That's what you need to do. You can rationalize all you like but, with your portion of the rent plus, carpayment and insurance you're spending your takehome pay. And, you haven't even put gas in the car, paid utilities, bought food and all the other things people have to buy. I'll just say again,once discharged from bk, it won't take long before you need another payday loan. Unless you can realistically raise your income, you got a car and a home you can't afford. You may want to think about ditching the rental and, either moving back home for awhile or, renting a small studio/efficiency apt.
  14. Excluding the car, you have about $15K worth of debt. I gotta say- on $1937/month net, how are you going to support yourself post bk? Rent, car payment and, insurance is about equal to your net. I'm of the school of thought that you leave bk in better shape than you entered. It's hard to see how you'll accomplish that with your income and that car payment plus, insurance. You gotta start making better choices. Noway financing a depreciating asset for 72 is a winning proposition and that insurance is outrageous. Have you shooped around for cheaper coverage. I'm of the opinion that,the only way bk will work for you is, let the car go and buy a clunker and a few months post bk finance something that is reasonable as to price and length of financing.
  15. Your reasons for filing a 13 are not valid. SC. has some very generous bk exemptions. Looks like everything you own would be protected in a Chapter 7. http://www.thebankruptcysite.org/exemptions/southcarolina.html Most bk lawyers will give a free or lowcost initial consultation. SPeak with 2 or 3 and get all of your options explained.
  16. Nobody will negoiate if you're still current. I elimenated my cc debt in a Chapter 7 bk but, at about the 150 day mark of default, I got unsolcited offers from Chase for a 45% payoff and Cap1 at 50%.
  17. I think your fiance is being prudent. You 2 should not comingle any bank accounts or go joint on any sort of mortgage or auto loan,etc. until you get this resolved.
  18. First things first. Concentate on getting well and see what you can do to negoiate the bill to somehing reasonable. Then, get some insurance. See if you qualify for medicad.Once the ACA opens enrollment again Nov. some darn sure apply for coverage. I'm of the opinion that bk is useless unless you can fix the underlying problem that caused the bk. You don't want to file bk and 6 months or a year later you have another attack and end up in the hospital and you already played the bk card.
  19. Why a Chapter 13? You don't own a home and a social worker isn't a high income profession. Seems like you'd qualify for a Chapter 7. I'd suggest another couple of consultations.
  20. No, not necessarily. Her income and contributions to HH expenses will have to be disclosed. You don't have a routine bk. Most bk lawyers give a free or lowcost initial consultation. Speak with a few and see what they say. Community property likely is no issue since the bk code provides for a community discharge under most circumstances. Again, a lawyer can answer specific questions.
  21. Large cc debt like that isn't really the sweet spot for lawsuits. Unless a creditor has done a lot of background work and ID'ed assets and verified a high income, consumer debts like that are pretty much uncollectable. Wages can't be garnished in Tx. and a judgment for that sort of money is probably going to be greated with a bk filing.
  22. I hope it works out for you but, don't be surprised if the trustee uses 707b to try and get your chapter 7 either dismissed or converted to a 13. ) (1) After notice and a hearing, the court, on its own motion or on a motion by the United States trustee, trustee (or bankruptcy administrator, if any), or any party in interest, may dismiss a case filed by an individual debtor under this chapter whose debts are primarily consumer debts, or, with the debtor's consent, convert such a case to a case under chapter 11 or 13 of this title, if it finds that the granting of relief would be an abuse of the provisions of this chapter. In making a determination whether to dismiss a case under this section, the court may not take into consideration whether a debtor has made, or continues to make, charitable contributions (that meet the definition of "charitable contribution" under section 548(d)(3)) to any qualified religious or charitable entity or organization (as that term is defined in section 548(d)(4)).
  23. Since you're vacating the house due to foreclosure and any deficiency balance will be discharged, you won't be allowed to use those mortgage payments as an expense.
  24. Nobody can say for sure until, your lawyer fills out schedules I and J to determine if you have sufficient monthly disposable income to fund a 13. Child support won't be discharged if that was the purpose of mentioning it. Speak with another lawyer or 2. While, if you're current that child support is an alllowable expense you likely don't have enough expenses-like a huge mortgage payment to bring down your disposable income.
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