poSSumX Posted October 1, 2003 Report Share Posted October 1, 2003 From another thread in here As to the proposed bankruptcy reform bill pending in Congress it is interesting to note that many districts are now scrutinizing Chapter 7 filers as never before and in effect dismissing more filings than in past history. You are not kidding. My wife & I Filed BK7 on 09/17/03. The Trustee questioned the filing last week and per my attorney it is due to the pending legislative changes. It appears that the District of CT is already doing this. My attorney stated that if I had filed a year ago, it would have never been questioned. He also stated that it is best to hear nothing between last week, when the Trustee called my attorney (whom is also a Trustee), and our 341 hearing. Our 341 is scheduled for 10/20/03. I check the VCIS daily to listen for any status change.If the Trustee were to file a motion for dismissal or conversion (to BK13), how long would that typically take to be filed by the Trustee?A dismissal would decimate me and my family. A BK13 conversion would be nearly as damaging at this point as well, however, would have to be accepted. The conversation with my attorney was last Thursday (09/25/03), and each day is an agonizing wait for any further bad news. My attorney impressed upon the Trustee that this was not a case of abuse, simply major over extension. Any thoughts? Link to comment Share on other sites More sharing options...
LadynRed Posted October 2, 2003 Report Share Posted October 2, 2003 How much disposable income were you showing on your papers ?While its true that some districts are adopting a pre-legistative posture, the whole bankruptcy reform is in serious trouble - especailly with elections coming up and the continued lousy state of the economy and jobless rate. Bush and those that wish to be re-elected would be a FOOL to foist this horrid legislation on already-suffering voters just to appease the likes of MBNA (major bribery to push thru the legislation).If all your papers were in order, no big fudging of the numbers on expenses, then you likely have little to worry about if you showed little or no disposable income in relation to your total debt load. Link to comment Share on other sites More sharing options...
poSSumX Posted October 2, 2003 Author Report Share Posted October 2, 2003 < $300, once all debts were excluded from the picture.I guess time will tell. My lawyer (whom is also a BK Trustee for CT) does not see my disposable income being excessive. The Trustee was taking a different tact last week though. It is the waiting that is painful. Not knowing whether my next phone call will be to my detriment.In the end, if the Trustee were to force a conversion, I would really have no choice in the matter, as I am now behind in all of my debts (except the ones I am still paying, mortgages, car payments). It would be IMPOSSIBLE to catch up, so a BK13 would be the only out. Link to comment Share on other sites More sharing options...
poSSumX Posted October 24, 2003 Author Report Share Posted October 24, 2003 Well, my wife & I had our 341 on Monday. The Trustee was still on the fence at that time, stating it was "close". While, I guess I have to agree, the margin was apparently nominal.The Trustee filed the NDR (Trustee's Report of No Distributino) on Tuesday..., and our case status is now "Awaiting Discharge Order". I found this out today on PACER, and confirmed it with our attorney.Based on my understanding, we will now just wait until mid-December to actually recieve the discharge. Correct?I must say, my wife and I are very relieved, as if this went to a CH13 or was dismissed, we would have been destroyed, along with our young children. Thank you God!! Link to comment Share on other sites More sharing options...
Watsonsbag Posted October 25, 2003 Report Share Posted October 25, 2003 Let's hope the legislation for BARF gets put on hold-indefinitely. It will bring more people closer to the poverty line than at any time in history. The stress, the divorces, the suicides--I can see it looming.We tried a BK 13 and found that any added expense caused us a great deal of grief. My dental work cost $400--all in cash. No chance to save for the future. Living each day in fear. Afraid of being out in the street; yes, we've been there and it's a nightmare.I will reiterate what I've said before--what good is a person to the economy if they are kept so poor, maybe lose their home etc. and can't buy even the tiniest extra? If a person truly gets a fresh start, he/she can start to become a consumer again, a homeowner that pays taxes, buys a new car etc. Someone who can't spend an extra penny, or a person who shares in building a strong economy; which makes more sense?Don't lose any sleep over these lenders. Mortgage companies insured by the government don't lose. Credit card companies sell off or transfer their bad debt then take a tax break from it, etc. etc. Maybe they get a tad nervous about shareholders wondering if they should buy that third vacation house, but otherwise their moaning and groaning is all show.It is important that we see where our officials stand on the issue and then vote accordingly. Although I'm sure the almighty corporate lending lobby will find a way to get BARF through eventually.Meanwhile, I find it very unfair that courts are already acting as though the new rules are almost in place. Do they really like to spread misery around?Good luck to you and keep us posted. I think your dilemma provides a "test case" as to what the future may hold. Link to comment Share on other sites More sharing options...
poSSumX Posted January 11, 2004 Author Report Share Posted January 11, 2004 Well, our BK7 discharge was granted on 01/05/04, last Monday. We received the initial notice from our attorney today, and are still awaiting the notification from the BK Court. I have already printed the BNC mailing from the PACER site, so it is complete !! This was an interesting venture; and my wife and I look forward to the road to rebuilding our credit. It is a real shame that CT does not offer/recognize reaffirmations, as I have 2 mortgages and 2 cars for which I am paying on, that are showing as IIB on our CRs. It is very upsetting to know that we pay these bills ontime (and have always been) yet we will get no credit for doing so.It is a happy time, considering the grief the Trustee put us through, and if we had to do it over again, we would. $55+K less in debt, able to LIVE on a month-to-month basis, no more stress over the next unexpected bill. Link to comment Share on other sites More sharing options...
Watsonsbag Posted January 11, 2004 Report Share Posted January 11, 2004 I'm so glad things are now over for you. Good luck! And don't feel guilty about anything. Just pick up the ball and start the game over again. It's a bright new day for you and a new future awaits. Happy that you could do the BK 7. The BK 13 would drag on seemingly forever and leave you living just on the edge. You did good! Link to comment Share on other sites More sharing options...
LadynRed Posted January 12, 2004 Report Share Posted January 12, 2004 Congrats ! Glad to hear you got thru it despite the grilling you were given.The fact is, since this is an election year, that horrid BARF bill is not likely to come up at all. Bush would be an absolute MORON to sign that thing this year !! Link to comment Share on other sites More sharing options...
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