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Everything posted by shotgun7

  1. Ugh, Filed BK in Sept, well thats when we went to the lawyer (who we are very unimpressed with) after being jerked around they finally got around to filing it around nov 6th. went for 314 meeting today, it was short and sweet just standard questions. Then as we are leaving lawyer says "Oh by the way, your case has been selected for a random audit, In all the years I have been doing this it has never happened to one of my clients, but no big deal come by in a couple days to fill out some more paperwork" After some research it looks like it is a much bigger deal than he has let on. So now, we will have all this to deal with along with my wife is due to have a baby Monday and we are going to be forced to deal with this in the middle of having a new born.....uggggghhhhh
  2. Thinking seriously about taking the plunge next month, My wife met with a lawyer the other day but something came up and I was unable to attend. they didn't go into much detail but she did mention we had a business he said we could do chap 7 but here is a basic outline, and a few questions Household Size 4 around 25-30k CC debt (defaulted) around 10,000 on a buy here pay here car worth half that (current) around 2000 medical bills (defaulted) 57000 mortgage on house, worth about 62-65k Will be using Federal Exemptions Monthly Income around 2700 (Gross) from full time job sometimes a few hundred more/less with OT and Holiday pay. Business income Gross 6 month income $22000 ( 5 months, plus projecting next months revenue since we wont file till then) Expenses $6900 pay to sales person/consultant $3000 Mileage write off per IRS allowance $210 software $450 office supplies (paper, ink, supplies etc) $426 Cell phones (aprox 40% of monthly bill) $450 Landline/Internet ($50% of bill) Total $11436 (maybe something I am forgetting but this is real close) Net 6 month profit $10564 Note, Taxes/Income are handled as a Sole Prop since it is a Single Member LLC Nolo says for my situation total 6 month income must be less than $29594 So the way I have it figured, I will have a 6 month income of $26764 However, that is not including the $7500 tax refund me and my wife got in March...Of course, that money is long gone now, spent mainly on necessities and bills and 1 project for the home. but we really didn't keep any receipts either. The other hitch is, the sales/consultant payment is to my Dad, however, it is all on the up and up. It was reported on my taxes last year, and he was sent a 1099 and the same will be done this year. He had 30 years exp in the same field, and was laid off and decided to work with me and semi retire. First off, how close are they going to review my P/L statement. Again, I really don't keep a lot of receipts but I can prove most of it on paper. I mean, I am not trying to be shady, but I don't want to go in with a simple 1 page P/L statement and end up getting thrown into chap 13 because of something stupid. But I don't want to go in with 150 pages of non sense if they only need a simple P/L. Second question is about the car, the warranty is about out on it, and is a decent car (has some issues) but we still owe 2.5 years on it, and I don't want to reaffirm it but, would be willing to keep paying it. Is it likely they would repo the car if I kept making payments? We have 2 other vehicles but they are old and not in the best of shape and I am not sure they would hold up to daily driving, they would both have to have a set of tires, plus some other minor work. But, also we have another kid on the way due around the 1st of the year. which is the only reason for considering keeping the newer car.
  3. To try to sum it up, My wife is being sued, we responded and filled out the first set of answers. We filed it with the court, have recieved a court date in april. The other day, we get a document from the CA, and its another list of "questions" they are all, of course... Gotcha questions. But there is no deadline in which they must be returned only when they were sent. I do not have them in front of be, but I don't think they have the courts seal on them as being filed either. do I have to fill these out?
  4. Just a quick update, and a thank you to all. We filled out the answers using a simple form found here. The first one was just asking about location and jursidiction, we denied all the rest. Filed it with the clerk, and sent a copy to the CA within a few days we got a letter back with a court date of april 3rd so, it worked out perfect. I still plan to file BK but atleast I don't have to worry about a bank levy right now. Thanks again for the help!
  5. FWIW, I figure to file in March, we should get our refund in feb (over double what you mention) We will be buying things we despertly need and spending most of it, and exempt what is left (ofcourse, anything we buy will have to be exempted, also... washer... dryer etc etc) but We can use the Federal exemptions, So should be ok. Atleast that is the plan, the one hitch in the whole thing is I do own a small homebased business... but It will have a overall loss for 2012 and will barley be break even by the time we file and without me would be worthless... has no assets at all. If the trustee gets too difficult, I suppose he can have it and I can continue on as a sole p since everything is paid from 1 source, it would just be a pain. That and have to get more info on the wifes health, no need to file if we are gonna rack up a bunch of medical bills But, It is what it is. We just got served on one of her CC's and that is a Citi card so they are always the quickest... she is pretty well judgement proof other than getting her name off bank accounts. We will answer the summons and see how it goes I guess.
  6. If you have already done 3 years of a 5 year plan... whats 2 more years? I don't have alot of advice to offer, but If it were me I would probably keep at it 2 more years and get a fresh start.
  7. Yes, the hog lady is quite good looking.... but could not carry a tune in a bucket lol.
  8. No date yet that I seen, It just said I had 30 days to answer the summons or they would get a default judgement.
  9. Well if things stay the same, no we could not afford to pay it. But, in addition to working full time I also have a small business that I have been trying to get going the last couple years, and may acutally have success with doing so in 2013. In all honesty I would like to go ahead and file and get a fresh start, the only thing that would make me want to try to avoid it is my wife has some health issues. However, the middle of jan I will be able to get her back on insurance and we will be able to find out exactly where we stand with those. Its one of those things, it could be serious and we have to deal with it right now, or it could be another 15-20 years before she has issues. So, if we file the answers, and avoid a default judgement that will atleast buy us some time till we can get everything figured out.
  10. In arkansas we can use fed exemptions, we should be well covered on everything but, I traded some land for a truck with my dad last year and want to get a year past that, plus have to get 90 days past last purchases on all cards. I will probably also have my refund sent as a check instead of dd, just to be on the safe side.
  11. I have thought about trying Arbs, but 1, this is CITI we are talking about, they suck... 2, the contract has a small claims clause in it, and in arkansas the small claims is 5000 or less, and this amount is less than that. 3. do not have the filing fee at this time.
  12. I knew it was coming, and just a few days before christmas we got an early present. Wife got served. She is being sued by a CA on behalf of CITI (not a JDB) My question is more about timing.... and how things might go. We live in rural, arkansas infact about 125 miles from where the CA is based. everything appears to be on the up and up, there is really no denying it and don't think we could win, but I don't want to just give them a default judgement. We will more than likely be filing for BK in March anyways, but there is the chance we may not. But if we do it will not be any sooner than that. We plan to remove her name from all checking accounts the first part of the month. She has no real assetts other than a car (old and not worth much) Her name is not on the mortgage and she has no other assets. My only concern is, we normally get and are expecting to get a very large tax refund this year, Any tips on keeping them from garninsing or intercepting it? We need it to buy some new appliances, and take care of some needs we have been putting off... We will be able to spend all of it, and keep a record of it so it will not be a problem for the BK. I know I have 30 days to file the answers and plan to file them and send them in the first part of Jan. after I send them in what happens next? Will they request a summary judgement? If so, How long will that take to get? If they get it, is there an time they have to wait to do anything. I like said, I only really need to buy a couple months maybe 3 at the most. We are in Arkansas by the way.
  13. It is still owned by CITI, It is a debt collection lawfirm that is sending the stuff. and Citi is bad to sue around here.
  14. First, I will point out I screwed up and did not do a DV letter on the first dunning they sent me. The second letter I got (last monday) "If you fail to pay this account or work out a payment plan with us soon, we intend to file a lawsuite against you seeking a judgment in connection with this account" the debt is for aprox $3300, It is a Citi store card. The only thing is it says small claim cases are exempt, and in Arkansas I think small claims is under 5,000. But, I have not been sued yet that I know of. I also really don't have any claims against them, As all the calls have went to google voice I havent talked to anyone. Just some letters from Citi, and now their CA Also, If I do elect, Do I just have to send them a letter, or a copy of the jams paperwork or both? I really do not even have the $250 to file right now, but If it would prevent going to court it would be well worth it, As the account is in fact my wifes. She is pretty well judgement proof... but I don't wan't them to just get a default judgement.
  15. Please pardon this question, As it may sound silly. Do you have to have a Violation or counterclaim agains an OC to elect arbs?
  16. sounds like he might have had a joint card with the ex? Or, she added his name without him knowing. 20k is alot, and If it is Citi I am kind of suprised they sold it to a JDB. They seem sue happy. Maybe it is a new trend??
  17. boy, arkansas is kinda light on protection there...
  18. shotgun7


    I am going to go ahead and send them a lettter. Even though I am going to go ahead and get the account current. Hopefully with a letter they will follow through. and by getting the account current It will buy me a couple months anyways. I pretty well know a default is coming, So Atleast It will be there, and I have something to go to. Though I know there is not alot you can really do to the OC.
  19. Check your credit report, It should have the date of default. If you have made no other payments since then, that is when the SOL starts.
  20. shotgun7


    "They" are amex, the OC. I have not defaulted yet... Infact, I was only 20 days late when they started harassing my work. I will probably go ahead and send a letter, I am going to make a payment monday, the one that is late, and the one that is due now... but I doubt I will be able to make any future payments, I am just trying to nip it in the bud now. I updated all my contact info on the website to my GV number, and my work number showed up no where in there at all... I mean I even searched hard for it but it was no where to be found.
  21. shotgun7


    Will that work with an OC? To send them a letter not to call my work, I mean. I know they are not bound by the same rules as a debt collector. Thanks for the info!
  22. shotgun7


    So I return to work yesterday, (I work Thursday-Monday night shift) Appears, They have called my work 3 different times this week... and I have not even hit the 30 day mark yet. Im not sure how they got my work number, I opend the account in 07 I don't recall ever giving it to them. I just updated my contact info yesterday, to my new google voice number. I called and told them, never ever, for any reason ever call my work again it got me in trouble...It really didn't, but they do not need to call cause I am not here in the day anyway...I told them I would make a payment monday (will make the payment that is late, and the one that is due now) I did not tell them I will not be able to make any future payments though... Kind of hopeing they follow through and delete my work contact information. They really tried to give me the run around, and I stood my ground, finally the lady talked to her boss and agreed to delete it. I guess we will see soon enough. Them, And My wife has a tractor supply card that is through Citi, those are the only 2 I am really worried about sueing us. Most others I figure will be sold to JDB in time. I hope we can hold them off for a year or so... We don't mind to file BK, But my wife has some stuff medically coming up that she is going to need treatment for, and it last 6 months to a year, and is going to be very costly. But, we won't be able to have it done for awhile since she is about to have a baby. We are just now starting to miss payments...Maybe we can hold them off. We have about 9-10 cards between us, the highest 2 have a balance of 3k the others are all 2k or less... Maybe we can fight our way through it without even having to file BK, Who knows. The Citi card is in her name though, since she does not work and is not on the mortgage and has no other real assets, not much they could do to her. Sorry, Just ranting a bit...
  23. For what it is worth, I was reading some of my card agreements, and both GE cards had a updated agreement a few months ago, and they did list the option for arbitration, and JAMS was included in the list.
  24. Well I make 480 bring home a week from my full time job not a month... But my mortgage with ins and all is only 344 with what I make from my fulltime job we can get by on that... Any business income is just a bonus at least it is when you take away the credit cards... We both now fully understand that if we can't pay cash chances are we don't need it with rare exception. Also, all medical bills will be paid as since we are low income she gets state medical ins that will cover everything... The main reason in waiting is having the money to file... But I am debating trying to hold out till next year and see how many get written off and how many sue us... Our balances range from 1500 to 3k but it may be easier to go ahead and get it over with
  25. I should also add that we have very few assets... the house appr for 62k when we bought it loan is for 58k we have a 2000 ford f150 with 212k miles on it a 1998 mustang gt convertible with 138k miles a 2007 honda rancher 420 4 wheeler a riding mower, garden tiller... a couple tvs but nothing of great value right now, we are current on all cards, but are going to have to stop paying them and try to save a little money.
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