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goudah2424 · 06-27-2007, 03:01 PM

Are you sure you aren't confusing chapter 13 and 7?

It wouldn't matter if you are current or not on your payments on your mortgage in determining whether or not you would keep it.

I wouldn't count on your student loans being discharged for a hardship, as steelers said it is extremely difficult to qualify for that.

It really seems to me like you are filing for bk just because of the one lawsuit. That is not the best idea. If you are planning on keeping most of your debts, bk is not the right option.

06-27-2007, 03:05 PM

Well, I have one lawsuit now going on.
I have 4 other cards that can do the same
thing to me at any time. Not to mention 3
other cards that could to.

We are in over our heads and need to file
bankruptcy.

Our attorney told us we can keep our home
and vehicle, as they are current and I can
reaffirm them. I have not asked about my
card.

06-27-2007, 03:12 PM

Keeping most of our debts? How is that?

25K in 7 credit cards is going in bankruptcy
and probably the other one making 8.

I am wanting to keep our home and our vehicle.
that is not most of our debt.

Bankruptcy is debt relief, from under 25k
of credit cards. I don't think I should
be judge for wanting to file.
I tried to do the right thing by going thru
debt settlement and was judged and told to
file BK. It is not working out for me!!!
They don't want to cooperate with me now.

I have no choice now.

goudah2424 · 06-27-2007, 03:19 PM

We are not telling you not to file, only that you probably won't get what you want under a chapter 7. You won't get your student loans discharged because paying them would cause a hardship. They mean like serious hardship. Like you personally are dying in 2 months of cancer AND you are the sole provider for your family. MAYBE then that would qualify for a hardship discharge.

Sorry, but it seems like when you don't hear what you want, you get bothered. Sorry, we are just telling you the truth. I have very recent (like in the last 2 weeks) experience filing a chapter 7, doing all the paperwork for a friend, so I know exactly what goes into it, exactly what you can and can't keep.

My friend also went to see a lawyer. He promised her the world. They are wanting your money. We are free advice. Unbiased. I personally don't care what you do, but I will tell you what can and can't happen.

06-27-2007, 04:28 PM

The attorney can not tell you that you WILL be able to keep your home and vehicle if you CAN'T. He won't wait until our court date and say, "Oh, hey...you are losing your truck and house!"

He said we can keep our house and car.
We have no equity in our house, maybe 1500.00 at the very most.

Our truck, we owe 9,000+ it is worth 10,000.00.

I have no reason not to believe him. I searched online and it says I can keep our home and vehicle.

Sure they want your buisness, but they are lawyers that will tell you upfront if your in risk of losing your home and vehicle over this. They don't want to put people out in the streets over bankruptcy.

My cousin that just filed with same attorney did her means test the other day. She said they go by debt ratio and income, they told her that she had to do a 13, because they make 80,000.00 a year. They waited to long though and are in foreclosure already...they moved out of their home.

WHEREAMI? · 06-27-2007, 04:31 PM

OK. You will see, an attorney's word licensed or whatever, is not gold. It is up to the trustee, and the attorney has no clue the day you go to your hearing what the trustee is going to do. But I don't know much about the bankruptcy, just been through it and about to be discharged. I won't provide any more advice or information on the topic. Like I said, what do I know.

WHEREAMI? · 06-27-2007, 04:38 PM

And in all honestly, they do not care if people are put out in the street for filing bankruptcy. The new laws are set up to protect the creditors not the debtors. And the trustee is making money. Don't be fooled into thinking otherwise. And I do wish you luck in trying to get your student loans dishcarged in bankruptcy, that really isn't going to happen. Your financial hardship seems to have been caused by credit card debt, and that is not grounds to have student loans discharged based on causing family hardship.

06-27-2007, 04:52 PM

I have not seen anyone lose their home yet through bankruptcy. It is a secured loan that we have.
It is worth 62,000.00, and we owe 60,000.00 on it.

Now tell me, how could they take something away from us when we owe so much on it?

I just got a call from another person that did bankruptcy and noone came into her house, she got to keep her car and house....through chapter 7. I looked at the laws online and it clearly talks about the trustee and all the goods and clearly states I can keep our home and vehicle. Someone can be sued for wrongful and intentional and misleading information. I could have a case against my lawyer for lying to me and pulling a big surprise on us. He does bankruptcy's everyday and knows what you get to keep and don't.

I was referred to him by others that have used him this year (and they were referred to him by others that filed and discharged)..

I pretty much am not concerned about my student loans and could care less if they are included or not at this point. I just want to know what my option with those are.

06-27-2007, 04:55 PM

I don't want to file bankruptcy, I would rather stay in my program. But, I can't. Out of my 400.00 payment to them, they want me to pay 200.00 to the card, 200.00+ to them.

Ok, say I do that....then another card sues us. They want 200.00 as well. Well, what would I do? then the other remaining cards sue us.

I can't take that chance.

WHEREAMI? · 06-27-2007, 04:57 PM

You would benefit from visiting this site.

(http://bkforum.com/index.php)

irish51cc · 06-27-2007, 05:45 PM

I have to put in my two cents here. I am filing for chapter 7 and I have passed the means test. The attoney asked me three questions to begin with: Did I own my home?; no. Did I own my car?;yes. Did I owe anything on it and how old was it?; no and 13 years old. He then told me that I was able to file for chapter 7 as my debts were three times what I made per year this included pdls and 2 credit cards, but I could not include my student loans.

WHEREAMI? · 06-27-2007, 05:51 PM

Right, you can not include student loans in a chapter 7, but can pay on them throughout a chpt. 13 plan. And you owed nothing on a car that was more than 10 years old, they do not want to touch anything (not insulting you irish, please understand), such as a car which depreciates in value and would hold no equity. Now if that car was in mint condition and had alot of value, then they might have came back and taken it to sell and get money to pay your debts. I have a neighbor who had to turn over 2 ATV's valued at $7500 to the trustee to sell to pay for his debts, and he was a chapter 7. The ATV's were 100% paid for and he lost them both.

Rochelle · 06-27-2007, 07:06 PM

when I was going to file chapter 7, I was told I couldn't lose my house because the bank owned it and I would just continue to make payments, and they could not take my car because the bank owned it. I could chose to include my car because I owed more than the value of my car and let the bank have it back. I had several collection agencies calling me (was going through divorce, went from $180,000 a year to $25,000) I retained the lawyer and started telling everyone that called looking for money to contact my lawyer. Then the calls stopped. I decided not to file and work my way out of my mess. The calls didn't start again for a few years. I disputed some and they were removed and others I settled for a lesser amount. Still on my way out of my mess. Don't know if this helps or not..just my 2 cents worth

06-27-2007, 08:13 PM

I was told basically the same thing...I could keep my home because the bank owned it and my payments were not delinquent. My vehicle I could keep too because the bank owns it.

I did NADA value, it is worth 12,000.00 and we owe 9,000.00 I have no equity in our home...and no assets.

We have a riding lawn mower worth about 500.00 maybe if that. My son has a four wheeler out of state..150 miles away that he rides twice a year. No title and we did not purchase it, it was a gift from his grandpa.

KYSIDE38 · 06-27-2007, 08:22 PM

Linda the only thing I know about all of this is that when the laws changed in 2005 it made it a lot harder for people 5to qualify for chapter 7. Student loans are not included. I hope that you get the relief that you need. It is always a hard decision but it is also a fresh start for many people. Best Wishes to you. Kyside38

06-27-2007, 08:45 PM

I just took the Oklahoma means test online (the calculator) and it said that I would not have to complete the full means test, I over estimated our income and we were not over...so I feel better.

The sight also said that we could have our home and vehicle...as long as our equity was not over what we are allowed and it isn't.