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Hello All, I have made some extremely stupid decisions this past 2-3 years and it has left me in a huge hole that looks impossible to get out of and I am looking for advice or any suggestions on what to do. I have been a gambling addict for the past 2-3 years and as of 2 weeks ago have finally confessed to this and I am now seeking help and have been free for 18 days now, this is my current financial situation: Creditor Name Payment Due Date Original Loan Amount Current Balance Monthly Payment Percentage of Debt Interest Rate Loan Term (Months) Disover Card 2nd $0.00 $2,334.20 $69.00 2.11% 23.24% N/A Chase Card 0872 15th $0.00 $2,630.00 $26.00 2.38% 15.24% N/A Chase Card 6214 24th $0.00 $3,002.00 $30.00 2.71% 18.24% N/A Paypal Credit ? $0.00 $3,500.00 $0.00 3.16% ? N/A CitiCard 0534 1st $0.00 $6,923.74 $101.00 6.26% 28.99% N/A CitiCard 1857 17th $0.00 $7,995.00 $119.00 7.22% 28.24% N/A Bremer Bank 1st $0.00 $8,036.83 $164.00 7.26% 24.24% N/A OneMain Financial 1st $10,000.00 $8,825.51 $314.89 7.98% 21.94% 48 Lending Club 1st $20,000.00 $16,779.0 $804.54 15.16% 25.88% 36 Prosper 1st $20,000.00 $17,088.9 $697.33 15.44% 15.41% 36 SoFi 1st $35,000.00 $33,543.5 $589.58 30.31% 10.88% 84 This is a breakdown of my monthly Living Expenses: Item: Monthly Expense Charity $240.00 Housing $1,414.92 Utilities $501.97 Food $306.00 Transportation $1,353.09 Clothing $50.00 Medical $290.00 Personal $280.00 Misc. Items $75.00 TOTAL: $2,915.34 INCOME: $5,766.00 Monthly Take home pay. As you can see I have a total monthly debt/expenses of $7,437.92 with only an income of $5,766.00. I have $11,000.00 in savings, and I am debating between using this 11k to pay off some of this debt, but even if I do I still cannot meet the monthly min. payments. So I am also considering to stop all of the payments on my unsecured loans and save approx. $1,600 ea month and use this and the 11k as a potential settlement 6-9 months down the road once these accounts go to collections. My other option (I think) is to file for Chapter 13 Bankruptcy, but I'm not sure that I would qualify because of my income. Any help or suggestions would be greatly appreciated. Thanks!

Hello, I filed Chapter 7 but I filed the Schedules on November 18, 2019, the Monday after an Order Dismissing case was entered on November 14, 2019. The Order states, "The case is dismissed without prejudice and without a discharge effective on the 15th day from entry of this Order." I have to file a motion to vacate or for reconsideration of the Order within 14 days. It is now the 19th and just today, I received the notice in the mail. On Sunday 17th, I accessed PACER and I saw it on the docket as an entry but could not retrieve the notice to read it. Upon seeing this on PACER, I emailed the Trustee that same night, which was Sunday 17th, stating why I was late filing the Schedules and that I would be filing them the very next day. The trustee barely responded today via an email stating that the case was dismissed and nothing else. I had also provided the Trustee all the documents requested of me. I am sure I can still save this by petitioning the Trustee but I need help with the language. I believe I am not supposed to file this with the Bankruptcy Clerk. Also, aren't the 14 days not supposed to include holidays and weekends? Please help?

I've been bankrupt for about 6 months now and was curious if anyone had any suggestions on how to start rebuilding my credit?

Greetings, I received a summons from AMEX Legal including two plaintiffs. One (FSB) is claiming an amount of $11,000 owed, and the other (Centurion) is claiming $5,000 owed. I also owe two other creditors similar amounts. I'm unemployed. I have no attachable income or own any assets such as a home or land. My car is worth $1200 according to KBB and I don't own more than $4000 in other personal property (I believe, that's the amount FL Debtors' rights allow you to exempt.) In short I believe myself to be "Judgement Proof". I understand that this does not excuse my debt. I can still get a judgment ruled against me and that this ruling can be effective for as long as 20 years. For this reason, and the fact that I want to be employed again in the future, I'm most likely going to proceed with Chapter 7. I'm posting this in the Collections forum because I need to know how to proceed with the summons from AMEX legal. I considered answering and agreeing to all the statements (I understand it's difficult to fight against original creditors). But would this effectively be the same as not replying at all and receiving a default judgement? To be honest I'd rather save the money on the filing fees and postage. Thanks. Smith.

Hello, My question is when we file our bankruptcy in just a few weeks, if something is not listed, how long do you have to amend it later? I know I have received 4 different judgment letters in the mail this year. We moved in May and I cannot locate the information I had for judgments and a few other bills/medical bills. I know I can go to the hospitals and request our bills but where do I go for the judgments? County clerk office? Also, my husband would like to know how many years back do we go? If it is not listed on his credit report and it was from the early 90's can that still come back to haunt him/us? Any tips helpful. Thank you in advance.

Hi - New here. I will sum up my situation and any advice appreciated. I entered a DMP with a consumer credit counseling service to pay off about 60k in Credit Card debt after major life events made it impossible to keep up with payments. Long story short the monthly payment was too much, so the the DMP was cancelled and all cards were written off as charge offs. 1. Last payments to most of the CC were through the DMP in June 2015. So most cards officially charged off in Nov or Dec 2015 2. One item not included in DMP was a loan through Prosper. Charged off in 5/2015 14k or so 3. Since 11/2015 just been sitting on everything, took approach to pray no lawsuits etc. and make it to 2022 and have everything fall off CR. Credit already ruined so that was my initial approach. Painful , anxiety producing yes. Collection Letters, calls at all hours. None of which I responded to or do now. 4. Fast forward. May 2017. Cach LLC (i have heard all about them) sues me for 14k prosper loan they bought at a JDB . Filed early May. Still have not been served. I learned of suit first via a letter from an attorney advertising their services, so I checked court website, and alas it is there. Hearing set for early 2018. Obviously when I am served I will file and answer, as to not get a default judgement against me. I understand that CACH LLC would need to prove standing, chain of command etc. and is a JDB. In Philadelphia, the case goes directly to Compulsory Arbitration Program All claims less than 50k go to this process: https://www.courts.phila.gov/pdf/manuals/civil-trial/compulsory-arbitration-center.pdf 5. Since my whole strategy to avoid BK and just go the informal BK route, was to pray I wasn't sued, has gone to pot, what do you folks advise I do? I don't want to end up losing to CACH LLC and having a judgement. In PA they can't garnish wages, but can go after bank account. Not that there will be much in there after I am paid monthly it basically is drained to every penny. But the point is what do you guys advise now? Facts: 1. I have absolutely no savings to attempt "settling" other than maybe $500-1000 with CACH, LLC and I am assuming they won't go for this in exchange for deleting tradeline, dismissing with prejudice. Because without that, what is even the point. So my question is should I file BK now, or wait. Chap 7 or Chap 13? Or try to fight lawsuit? Not sure what the point of that would be, with all the other debts hanging over my head. 2. I own a paid off car that is a 2011 model kelly blue book 10-12k, minimal other items, and rent. I make just under the median income amount of 51, 138 for chap 7 in PA. I cannot lose my car as I need it for work, so would I have to go Ch 13? I know my car is over the "exemption" amount so how would that work? 3. I have very little disposable income, after rent, normal utilities, and about a $250 payment per month to IRS on installment plan which I have a few more years on. 4. One last question. What happens if I file BK to the lease and the apt I am renting. I have never been late on rent and have been here 5 years. Would it be best to tell landlord before filing (if I file) and ask them what they would do? Do they have to kick me out if I file? I do not owe them anything, nor am I late on any utility, etc. It is just the consumer items listed above. 5. And if filing, should I get an attorney and what would that cost to file in general? Any helpful advice would be much appreciated.

I filed BK chapter 7 as pro se and had my Meeting with Creditors today. Trustee told me that I might be able to claim a refund of wages garnished 90 days prior to the filing. Anyone know how to go about this? Do I just ask the garnishor for the money or do I have to sue?

I had bad credit and decided to do something about it. There are a lot of things about credit I am still unsure about and would appreciate the help from anyone here. 1. Can you get chapter 13 bankruptcy disputed off your credit report? 2. I've gotten regular bankruptcy taken off, but I don't know if I can dispute chapter 13 bankruptcy. Can anyone answer that question for me?

Filed Chapter 13 Sep 2011, Bankruptcy Plan Number 8 DIRECT PAYMENTS lists 3 items, Jeep payment $265.36 WF Home mortgage (1stMortgage) $1,553.24 Wells Fargo Bank (2nd Mortgage) $275.00 These are the payments setup and ordered by the court for us to make directly to these companies. Got your attention? The first 2 went along just fine, Jeep paid off, 1st Mortgage ongoing @ 9% interest, 2nd mortgage paid $275.00 as ordered. We paid for 15 straight months, last payment was Dec 2012, so in Jan 2013 WF Charged the account off. No notification just Charged it off. Total payments due for those 15 months as ordered by the court amounted to $4,125.00 total amount of payments made during same 15 months $4,105.00 . (See Redacted payments 2nd mortgage 2016-12-23-091341 document attached) and (REDACTED Chapter 13 Plan 2016-12-23) So question is how could they charge this off and then why are they now reporting it to the Credit Bureaus as overdue $3,303.00. We tried to refinance with WF, got a resounding "No" , Since Aug 2016 I have been communicating with WF, I have received 41 letters some the exact same letter twice in one day, the subjects range in no specific order (Acknowledgements, Response to Inquiry, Update to inquiry, Payoff, Resolution, Status Update), we get weekly phone calls with no new update but letting us know they need 2 more weeks, 2 more weeks, 2 more weeks. (See Wells Fargo Letter Tracking Document) . So what are my options here? They will not send us a bill, we can not refinance because they report this overdue, they claim the account went into default 1 Sep 2011 before the bankruptcy?? They claimed over the phone with the Credit company that the last payment was Oct 2012. Yeah right. The last 3 letters received this week on Monday says a resolution by maybe Dec 29th or Dec 30th, I am holding my breathe... What are my options, they are obviously caught in a mess with disobeying a Court Order and Charging off the account without merit. WellsFargoLetterTrackingSheet.xlsx redacted payments 2nd mortgage2016-12-23-091341.pdf REDACTED Chapter 13 Plan2016-12-23-092308.pdf

I recently filed chapter 13 as a way to save my home from foreclosure. There are 10 payments that were made (before bankruptcy was filed) that the mortgage company never applied to my account. I keep asking (and emailing) my bankruptcy attorney about it but have yet to receive a response. To top it off, my loan was just switched to a new servicer. What can I do or who do I need to talk to to get my account credited for these payments? If a "lender" has provided incorrect balance, fee and/or charge information to the BK court, shouldn't my BK attorney be looking at challenging these errors?

In the late 80's I went to bankruptcy court and they reworked my student loan. I am paying $300 until I am 78 years old, twelve more years, and I am paying 7% interest. I called and wrote Petra Shipman who was the person I always spoke to about defaulted loans asking how much I would have to pay if I were to pay it early. I'm thinking, like a mortgage you would save on interest. First she sent me a statement just showing where I was and the same payment until I'm 78 years old. Then she wouldn't call back. I sent a certified letter asking for information. I received no response. The company used to be Sallie Mae then USA Funds. Now it is called Navient. Does anyone have any suggestion? I was thinking of taking money out of my retirement so I wouldn't pay 7% interest. Thanks Barbara

Let's get you all caught up. Midland Funding obtained a default judgement and garnishment. That was the first time I was even aware of the action. They filed in the wrong county. I motioned to vacate default judgment - improper venue, and won. Had my garnished wages returned. The case was then transferred to the right county. Midland filed a MSJ which was granted due to an inadequacy of my response. I filed a Motion to Reconsider which was granted...vacating the MSJ and setting trial. Midland filed a Motion to Vacate....which was granted on the day of trial - essentially reinstating the MSJ as originally entered. I filed a 2nd Motion to Reconsider which was denied. My basis for the motion was that Midland never proved they had standing to sue. Me thinks that that would mean the court never did have jurisdiction in the first place. Although NJ does offer post judgment motions, given the history here - i don't think that the judge would want to hear this case again. It's time for an appeal. As you can probably figure...the budget is tight. An appeal would cost $300 just to file the Notice of Appeal and then there's the transcript costs as well. In all probability I may have to file for bankruptcy - not solely based on this, but on the totality of my financial situation. Should I just go ahead and file for bankruptcy or give it just one last shot at the appeal. I don't yet know the implications of both a judgment and a bankruptcy on my credit...but as I said, I may have to do a bankruptcy regardless. Is there any benefits of attempting to avoid the judgment as well or should I save my money for the bankruptcy filing? Your thoughts are appreciated.

From NYTimes 5-8-15: Bank of America and Chase will delete lines from CR after bankruptcy filings, which they should have been doing anyway. Link below. But also from the article: Bank of America promised to go further, agreeing to fundamentally change the way the bank reports all the stale debts that are sold to financial firms. For all credit-card debts sold since May 2007, court records show, the bank will remove any marks on consumers’ credit reports. That way, a lawyer said, “should a previously sold credit card account go through a bankruptcy discharge,” the mark will already be gone. This says they will delete anything after May 2007 that was sold to a junk debt buyer. I am going to be monitoring my reports to see how this plays out - I have an OC line with them for which the JDB line was deleted after I sued. http://www.nytimes.com/2015/05/08/business/dealbook/bank-of-america-and-jpmorgan-chase-agree-to-erase-debts-from-credit-reports-after-bankruptcies.html?emc=edit_th_20150508&nl=todaysheadlines&nlid=43571867&_r=0

Hi Everyone, Last year my father had a botched surgery which resulted in stroke as well as short term memory loss. Since this occurred my sister and I have tried our best to make sense of his accounts and found out he had more debt than could be handle with the medical situation. One of those accounts being Municipal Credit Union which my parents had a checking account and visa card. I believe also a LOC, but not sure. Once I actually got hold of the account(s) the credit card was apparently behind by two months with the minimum payment of over $800-900. The union actually had the nerve to put a freeze on the checking account (which my dad received his social security & pension payments) until the payment was made. Basically no withdrawals from the atm or bank counter were allowed not even for groceries. After the second time it happened in which I had explained my dad's situation to reps and asked them to negotiate for a lower payment ($300), they refused. We couldn't pay more than that because my dad is on a fixed income and medical care was first priority. Since they refused to work with us and continued a withdrawal freeze, we left the Credit union and eventually stop paying on the visa account as well. As of yesterday evening there were papers left at the door stating MCU is suing my dad for over $15K not including interest and lawyers fees. Their attorneys are Stern & Stern. The summons was dated May 22 but the served June 10th. This brings me to my first question: 1) Do we have time from the date stamped on the summons or the time it was allegedly delivered to answer? 2) In the summons, it claims in the list of cause of 1st actions that: The department of Consumer affairs doesn't require the plaintiff (Municipal Credit Union) to be licensed. Is this true for credit unions? Even when issuing credit cards? The summons also fails to identify the card or account number. Is this legal? 3) Can his pension and Social security be garnished if they win? 4) I was listed as limited power of attorney on this bank account, can they come after me for the debt? 5) We have been considering filing for bankruptcy for him because of this debt, mounting medical bills and three other accounts. Is it still possible to proceed and have this part of the bankruptcy? Also, I don't know if its worth mentioned that this credit card account hadn't been used in years. I APPRECIATE ANY HELP ON THIS!!

I'm not sure where to turn, but I don't want to ask family/friends as I'm worried how I will look in their eyes. Seems I had too much of "keeping up with the Jones'" and now I am in debt up to my ears. My problem isn't that I can't pay my debt back, I am not even late and I pay on time every month. My problem is that it is now TOO MUCH in the fact that my whole paycheck goes to debt and I don't have any left over in the end for groceries for me and my 3 small children. I'm forced with 3 options, and I don't know which is better.. 1. Get help from a debt settlement company.2. File bankruptcy, if I fit into the guidelines.3. Contact all companies and request a reduced settlement. If that doesn't work, stop paying these debts, wait until collection agencies buy them. At that time, validate the debt and ask for settlements per confirmation. I'll be honest with you.. all 3 of these options scare the hell outta me as I'm a person who always pays her bills on the 1st, even if they aren't due until the 25th. I currently owe a total of about $19,720.80 to 20 different companies. Can you please give me some advice?? I don't know where to turn!! Thanks! Erin Nickel

A family member received a letter from a JDB that is attempting to collect on an old CC debt that was included in their Ch7 bankruptcy. This is an initial contact with the proper language/disclaimers. Quick rundown - JDB is Jefferson Capital Systems (first I have heard of this particular outfit, possibly related to RJM Acquisitions) - Recently purchased the debt (no date given) - CC Debt, around $2-3K, last paid in 2009 - Discharged in BK CH7 in 2010 I've read the attempt to collect on BK discharged debt may be a violation of FDCPA Section 807: "(2) The false representation of (A) the character, amount, or legal status of any debt." Even if so, not interested in pursuing anything legally, they just don't want to deal with garbage like this, hopes to not have to deal with this debt being sold again & someone creating a trade line over it. What is the best response? I haven't found anything specific for this in the CIC (so far), and only a few related items elsewhere. The recommendation seems to be to send a letter informing the JDB that the account was discharged, to cite the case number of the BK, and instruct them to cease collection efforts. Is this enough? Include any pages from the BK?

I am asking this question for a friend of mine who asked me a question. Would you marry someone who just filed BK and owes the IRS alot of money- over 180K? My friend is a male and she his girlfriend is a breadwinner. Her boyfriend- my friend wanted to know the legal ramifications of marrying someone with a recent BK filing and her large IRS debt bill which has not settled yet for pennies on the dollar- ( so they say it ). His credit is not the best as well, but regular collection debt of 20K and he works and makes decent $ but not enough to avoid paying his debts to avoid being sued. He said he was not so much concerned about her BK, but was more about her IRS- as if they settle for a figure , and if she cant make a payment arrangement ( who can on 6 figures now a days - what are his risks?

Hi Everyone, I apologize in advance if I am in the wrong forum. I am posting on behalf of a dear friend of mine. Here is what I know: We are in Arizona 2007 Refinanced and took out second mortgage 1st = 200K 2nd = 85K Approx 2009 they filed Chapter 7 which included discharging the 2nd mortgage (Nov 2010). They were advised at that point to file Chapter 13 a few months later to remove the lien on the second, but they never did. Fast forward almost 4 years later. They are CURRENT on their first mortgage with a balance of approx $180 They received a letter from Trustee Corps the trustee for "Partners for Payment relief" stating they will foreclose on the SECOND mortgage unless they do one of the following: do a loan mod with PPR, forebearance, Deed in Lieu, repayment plan, reinstatement of loan, short sale, assumption of loan. Basically give us your house. The biggest unbknown right now is whether they have equity or not. googled PPR and they sound REALLY BAD. Here's a page a found: http://www.complaints.com/2012/janu...ss_with_Partner_s_for_Payment_Reli_263057.htm Sounds like JDB to me Looked at county recorded docs and they have indeed foreclosed on people here in AZ. And the paper trail is ridiculous: Bank assigns to a trustee, trustee assigns to PPR, PPR assigns to Trustee Corps, Trustee Corp files foreclosure sale paperwork, foreclosure occurs, Trustee Corps assigns back to PPR. In some cases PPR assigns deed to some investor (this may be the assumption part), who then may foreclose. They also have a few lawsuits out there in AZ and other states. What I am wondering is there anything they can do besides a Chap 13 (so long as they are underwater on the first) or 11 to stop the foreclosure. I posted on "lawyer will answer your question" website and one lawyer stated: We have had some discharged lenders holding second mortgages and their debt buyers threaten foreclosure even though the debts were largely or entirely under water. We have suggested to them that this technique is a violation of the discharge order since it is a bad faith effort to force collection of a discharged debt. We have also suggested to the debt buyers that they are violating the FDCPA as well. So far, they have all backed off. Anybody ever deal with this? Sued people like this? Won? It seems like this should be illegal, but I havent heard that yet since the second lein is still in place. I also believe this is going to be a big thing in the near future - Note buyers on defaulted mortgages - since some housing areas are on the comeback. Thanks Much in advance

I'm just quite new member here in this community. I was searching about bankruptcy until i came through this forum. Glad to be here and I'm sure i could learn some thing new here.

Hi guys!! Ok, so I wanted to come on here and ask for you guys' advice for a friend of mine. Here's the HUGE problem.... He has a $300,000 foreclosure PLUS some credit cards on his account. The problem is..... the foreclosure is a house that his mother purchased when he was 18 and tricked him into cosigning for it because he had great credit. She basically told him that he was signing for the house in case anything happened to her... it would go to him without any issues. This is when he knew nothing about this type of stuff. He just signed the papers. He didn't find out until he was like 21 and went to go buy a house with his ex and found out he had a foreclosure on his credit. THEN...not only that but just about a year and a half ago him and his mother got into it really bad because he found out that she had opened some more credit cards in his name. He tried to dispute it with the credit companies but they didn't believe him because he was living with her and the credit card bills were the same address as his. as far as the foreclosure, he was told the only way to get it off his credit was to file fraud and he didn't want to do that because he didn't want to send his mother to jail. She's done this so many times and it really pisses me off. Her and her sister were doing it together, except her sister wasn't doing it to her own family members. Her sister actually got caught and went to jail for 2 years. This is a very touchy situation. I told him to let me help him try to repair his credit because I am doing pretty good in my journey but he is convinced that nothing can be done about the foreclosure especially. I would really appreciate all the help we could get on this subject!!!

Hi All, I'm just looking to find how some of you cope with all the stresses of fighting debt lawsuits or surviving bankruptcy, whatever your predicament is. I initially fought debt lawsuits in 2011-2013 period, but have eventually decided to file for Bankruptcy. I have a good Bankruptcy attorney, but he is not equipped to be my psychologist , so I am trying to find a way to cope. What do all of you do when the blues hits hard? It doesn't happen much to me, but when it does, it's with full force... Last week has been particularly hard. After a lot of push and pull with the Trustee for the price/terms of the car buyback agreement (unfortunately, I was able to exempt only part of my equity as the car has been paid off), and finding out that he won't budge on the price, I've realized that the agreement is not really a good deal for me, and have started coming to terms with surrendering the vehicle. And then, the mortgage lender comes in on Friday with their motion for relief of stay (even though I've been actively closing the gap and doing the loan mod), and I realized I will need to essentially give up the car to save the house. I'm pretty confident my Attorney will defeat their stupid motion (per my attorney, their motion's got a couple of major flaws in it), but it sucks when you find out on a Friday that they have filed for it. Plus it reminds of the saying that "the difference between a rattlesnake and a bank is that a rattlesnake will warn you before it bites!" It's been much harder than I thought it'd be, emotionally. I guess I got quite attached to my car over the years, even though it needs a bunch of maintenance and repairs. So, I am looking for rentals to tide me over until the discharge (when I can get a car loan again), and the emotions have been a bit overwhelming a bit. First I kept telling myself that it was "just a car", but then going back to 2006 when I bought it, I recall how happily I drove it off the lot (was just a 1 year old car), and, after a couple of cheap econoboxes, it was my first comfy car with a V6 that I was planning to use for a bunch of road trips, etc. But then, the financial troubles hit a year or two after, and there was never enough money for those trips, so I ended up with a not very fuel-efficient commuter vehicle. Eventually, when the dust settles, I'll be able to get another car, more suited for commuting and with better mileage and all. I know things we'll get better, but it sure stings a little bit right now

I'm wondering if this is even possible due to jurisdiction issues, but here is the dilemma: Lender has filed a motion for relief of stay in my bankruptcy case. The motion was supported by a declaration of one of lender's employees, who is claiming to be a custodian of records/specialist, etc. etc. The declaration was signed under penalty of perjury and some of the information in it was incorrect. Once the bankruptcy is over, is it even theoretically possible to use that declaration to launch a RESPA/QWR inquiry into how loan servicer made the oversights/errors that can be seen in the declaration? Or is this a waste on my end due to the fact that the declaration was filed in one venue (Bankruptcy court), while I am using it outside of scope, so to speak. But, if I am not mistaken, RESPA is federal Law, so I keep wondering... I guess I am trying to fish out some loan servicer errors, so I am wondering if this could be used as an opportunity or if I am going down a blind alley with this idea. Thanks.

Long story short, I am in Chapter 7 and am surrendering my car. I am going to get a new car after I get the bankruptcy discharge (some 40 or so days from now), but need transportation in the meantime. I figured I'd just use my debit card to rent a car but have noticed a disturbing trend with some of the rental companies checking credit scores even if you use a debit card. Are there any car rental companies that are more friendly towards some of us with bad credit/bankruptcy on the credit report? Thanks.

My understanding is that System1 set of exemptions is really good in protecting the home equity (it protects up to $75,000), but it doesn't do that good of a job of protecting my car and personal property (i.e. no wildcard exemption, no $650 dollars per each item allowed, etc.). System 2 seems like it will let me protect pretty much all of my personal property (especially with that new generous $4,800 vehicle exemption), but the homestead exemption for the system 2 is only around 23K if I am not mistaken, which may be a risky deal, considering how much the house prices have been going up in Calif. (my house goes up by $7,500 every month). If I were to file for Chap 7 around the end of August, what month's house price would the Trustee take into consideration? Would he look at the house price when I filed, or when he reviewed the case some x months later? My understanding is that the whole Chap 7 process lasts 4-5 months in Calif. (correct me if I am wrong), so when in this period does the trustee decide whether to sell the house or not? Right now, I have around $2,000 of equity in the house, but am a little worried about this housing bubble pushing my house value beyond what I am able to exempt in a very short time. We here in Calif. have a lot of large financial companies and hedge funds buying houses in bulk and converting them into rentals. This has raised the house prices tremendously. But then, if I go with System 1, can I pretty much kiss my music recording equipment bye-bye? I am a hobbyist musician and have around $840 in musical instruments, mixers, microphones, etc. It's not much, but it'd be hard to lose. System 2 seems like it would let me keep all that, but System 1 has some "average household" standards that are basically at the Bankruptcy Court's discretion. Since the average household doesn't have mixers and mics and keyboards, do I stand to lose all that stuff? Or how about having 2 computers and a laptop? Do I get to keep just 1 computer under System 1 exemptions? Please advise.

Hello, Midland Funding just posted degratory information on Experian for an account that was included in Bk. The BK was completed 8 months ago. What should I do?