Is it ok to surrender my car back to the bank before my Chapter 7 Bankruptcy is finalized? I’ve already attended the hearing, I am expecting a successful Chapter 7 release soon but not sure exactly what date, I have the car listed on my Debtors Statement of Intention as "Surrender", the next car payment is due this Saturday, I don’t have the money to pay it, will I jeapordize my Chapter 7 release by surrendering the car back to the bank now, should I wait until my release arrives in the mail, or does the timing of this not really make a difference?

Technorati Tags: car payment, chapter 7 bankruptcy, debtors, mail, money, statement of intention

OK firstly, if you’re coming on here to give me advice and help: thank you. If you’re someone who is coming on here to stand in judgement, and tell me what horrible people me and my husband are for ‘racking up debt’ and then going bankrupt, then don’t bother wasting your time, because I will just report your post and ignore it anyway. Not being funny, but all I have got during the three times I have posted this today is nasty comments from a few people who have no idea of the circumstances that led up to the bankruptcy, and spam from people advertising loans! So if someone could give me some helpful advice, I would appreciate it. I havent posted it for several hours, so hopefully there’s some different people on here now.

So here is my dilemma:

We went bankrupt in November 2010, moved out of our mortgaged home, and moved into rented accommodation.. We owned a property (mortgaged) which had a 75K mortgage and also we had a 30K secured loan and £50K UNsecured debt. Just recently, one house near our old house, went for £105K, so the most it will get (at auction probably) is about £90K.

So we went bankrupt and the receivers contacted us to see what assets we have – we have none, except for the house. We haven’t been back to the house since, and didn’t have our mail redirected as we have informed anyone of any importance about our new address.

Well, I phoned the receivers today to ask if they have let the creditors know yet, (because at 12 Jan 2011 they hadn’t..) and they said yes they informed them and sent a report of our debts and other creditors on 18 Jan. Then this girl said, ‘your unsecured debtors (we had £50K unsecured debt) will know there’s little point in trying to you, but the mortgage company will need to contact you and know your ‘current’ address, because they will need to issue a repossession order,,,’

I am utterly baffled, as when we spoke to the receivers in November, (AND the court too,) they both informed us that the receivers would deal with everything, and that the creditors will need to go to the receivers for any assets we have. This is how bankruptcy works surely.???? And now this girl tell us that we should have contacted the mortgage company voluntarily, because the creditors ‘only let the creditors know the person is bankrupt,’ and because there is little equity, they don’t take the house themselves, they just leave it up to the mortgage company to reposses it at their leisure. So apparently, we are supposed to work with the mortgage company through the repossession. !!!

But why on earth should *we* have to let them know our new address so they can badger us here, ?? Surely they can repossess it without us. I was under the distinct impression from the court and from the receivers (at the start) that once we go bankrupt, it’s out of our hands. and now 3 months on, one girl at the receivers office is saying that we should have contacted the mortgage company so we can help in the repossession process!

Well excuse me, but we did pay the receivers £900 (£450 each) to do this job for us, and what would happen if we had buggared off and just abandoned the house like a lot of people do? Surely the repossession can go ahead without us?

Can anyone advise? I am super reluctant to contact the mortgage company and see no reason why they can’t simply repossess without us. And I am particularly pissed off that the receivers AND the court said it’s out of our hands and we need to do NOTHING, as declaring ourselves bankrupt freed us of the debt (and the assets of course..) and now this girl today has said we should inform the mortgage company of our new address, or the repossession order will take many months, as they ‘need our signatures…’ for the repossession order to go through swiftly.

For one, why only say this now? And what happens if someone abandons a property? Should we just leave it and wait for them to repossess without us?

Technorati Tags: assets, auction, bankruptcy, circumstances, creditors, current address, debtors, debts, dilemma, judgement, mail, mortgage company, nasty comments, receivers, rented accommodation, secured loan, spam, three times, unsecured debt, wasting your time

I have read alot and heaard from others about debt settlement. Is it best to check with my debtors directly or to go through a debt settlement company? Any of these recommended? Also, if I am paying on credit card bills, but cannot get ahead, will a company talk with me about debt settlement?

Technorati Tags: credit card bills, Debt Settlement, debtors, settlement company

I am waiting for my attorney to get back to me next week. In the meantime if anyone knows the answer to this, I would really appreciate it. I have already filed and had my court date for my Chapter 7 bankruptcy. My Chapter 7 bankruptcy will be finalized on January 30 2007, and I will be released of all unsecured debt.
On my "Debtors Statement of Intention" document, we put "Surrender" for my car, and that’s exactly what I’m doing with it.
For my house we put "Exempt" which made the equity exempt and allowed me to keep the home without a forced sale. The problem and question is with my home. The mortgage company’s lawyer is pressuring me to "Reaffirm" by January 30. She says of I don’t sign the reaffirm agreement then it will default to "Redeem" "Redeem" seems to mean pay a lump sum or surrender the property? The question is; Is a Chapter 7 debtor’s home mortgage limited to reaffirmation, redemption or surrender, after Exempt? My attorney says there is a 5th choice, do nothing.

Technorati Tags: chapter 7 bankruptcy, debtor, debtors, home mortgage, lawyer, lump sum, mortgage company, reaffirmation, redemption, statement of intention, unsecured debt

I had my 341 meeting today and Im so glad that this is over with. My trustee was a local bankruptcy attorney that advertises WAY too much and my neighboorhood, and he kida looks like skeletor.

Anyways he was particullary found of me since I filed bankruptcy ProSe(By Myself) I had a few tiny problems and he wouldnt be specific on how to fix these problems and am hoping someone can help me and tell me what I have to do

#1 I had lost my wallet a few months ago it had my social security card and everything in it. I went to the SSA builing and filed a replacement card application. I had told the lady at the counter I have a meeting coming up where I need to show proof of my social. She told me " This reciept is all you need to show" I did and the trustee rejected it. I have to get him something with my social

#2 I was told before the 341 meeting that I needed to drop off paperwork to his office. I needed to drop off my bank statements, Paystubs, Income Tax Returns. (SEE MORE BELOW)
And a copy of my Petition. I had a copy of my petition saved on a CD and I had thought that the State Bankruptcy office would have given him a copy. But just to be safe I had printed out a copy of the original petition and handed to his office. He cocked an attitude on me again saying," How am I suppose to verify your signature" i had told all my signatures was on the original and this was a duplicate. I dont remeber him saying anything else needed on this end. But just to be safe

#3 On My list of assets he said I have to amend my return to say the details of my car which Im claiming an exemption on. I wrote "debtors Personal Vehicle" but he wqants I think the make year model etc. And also I claimed my checking account as an assett which only had a hundred and he says I need to put an exemption on that. He wants me to amend schedule C i think it was

He ended it by saying quote"DO NOT CALL MY OFFICE FOR ADVICE ON HOW TO FIX THIS" (SEE MORE)
I remember him saying I had till the 28th two weeks from now. Do I just have to get all my paperwork together and can I mail it to his office or something else? I’m really in the dark and wish I had hired an attorney. PLEASE no smart ass remarks about ohhh you should have gotten an attorney. If I could have afforded the fees I would have. Thanks

Technorati Tags: 341 meeting, assett, bank statements, bankruptcy attorney, bankruptcy office, card application, checking account, debtors, income tax returns, neighboorhood, paperwork, personal vehicle, petition, prose, reciept, schedule c, social security card, state bankruptcy, trustee, wallet

A house I am buying in Las Vegas, Nevada is still in escrow and I am just waiting for order from the court for release property from the bankrupty court which would happen when all the payments to the trustee are fully paid. Unfortunately, the case was closed for non compliance of payment. Since the Bankruptcy case is now closed, and the debtor( seller of the property I am buying) is no longer protected by Chapter 13 from all her debts which went back to ,000. What happens to the house I am buying now that the bankruptcy case is closed? Can the debtors run after the property which is now in escrow?

Technorati Tags: bankruptcy case, bankrupty, chapter 13, compliance, debtors, debts, escrow, las vegas, trustee, vegas nevada

When filing chapter 13 bankruptcy, when the court determines the payment the debtor must make, does the payment increase if the debtors income increases?

Also, if after the bankruptcy decision is made and I sell my home, do I have to pay any profits made toward my debt, or can I put that money into a new home?

Technorati Tags: chapter 13 bankruptcy, debtor, debtors, filing chapter 13 bankruptcy, income increases, money, profits

I owe about 25,000 in loans and credit cards. The settlement company offered to settle for 15,000 over 3 years at 425 a month. My debtors keep calling and getting nasty. Should I stay with the settlement company?

Technorati Tags: 3 years, credit cards, debtors, loans, settlement company

I am thinking of filing for Chapter 13 bankruptcy. I already have one judgment against me and I am worried another collection agency will be taking further action. How do they calculate the amount that the Trustee will accept for repayment? I am already paying close to 00 for my unsecured debtors. I am concerned because I am going to have some large medical bills in the near future. Any help would be appreciated. Thanks.

Technorati Tags: chapter 13 bankruptcy, debtors, judgment against, medical bills, trustee

I have a large amount of debt that I am unable to pay. I want to file bankruptcy. Let me start by saying I am ashamed to be in this situation so, please do not bash me, just please provide sound advice.

There are two debtors that I would like to continue paying on. One of them holds the pink slip to my car (my credit union) and the other is a credit line that is owned by my grandfather but he put my name on it to use.

Can I file and not include these debts?

Please help, thanks!
Added DETAILS:

1. No assets, other than the car, which only ,000 owed.
2. In California.
3. How do I reaffirm the debts I’d like to keep?

Thanks!

Technorati Tags: assets, bankruptcy, debtors, debts, pink slip, sound advice

I mean can credit card companies go to the extent of auctioning/selling off debtors underwears, toothbrushes, combs and possibly one’s shampoo and bathing soap to settle debts owed them if one doesn’t have other properties they can sieze?

Technorati Tags: card companies, debtors, debts, extent, shampoo, soap, toothbrushes

I have a terminal disease and I have some debt that I am never going to be able to get a hold of. I am going to have to file bankruptcy. I am bed ridden right now. I need to get some advice on some questions I have. Can anyone help me?

I am married and our house is in my wife and my fathers name, not mine. All the debt, medical and Credit card are all in my name and nobody else. So I will file bankruptcy myself. I have no assets, no job, nothing like that. I actually have less than 10 debtors. I cannot afford an attorney because my wife works to care for me and our three boys and she makes 10.00 an hour. Has anyone used the on line bankruptcy paper filing services at all? Is this something that can be done? Is it hard? any advice would be appreciated. I really need some help. Thanks

Technorati Tags: assets, bankruptcy, credit card, debtors, fathers name, job, paper filing, terminal disease

I have around k in debt. The debt is all personal debt and there are no co-signers nor assets in question. As for my personal assets, I don’t believe I really have any. My car is eight years old and I live in an apartment. I was considering filing bankruptcy before I begin a new job and get better pay (therefore, they do not see a bigger paycheck and feel I can pay back my loans).

So, the question is, what bankruptcy should I do if there are no assets which can be liquidated to pay back my debtors?
Funny how many people jump down someone’s neck when they talk about bankruptcy. I guess Enron, K-Mart and others are fine, but regular humans are not? Get a life, people…

Technorati Tags: apartment, debtors, enron, filing bankruptcy, jump down, k mart, loans, new job, paycheck, personal assets, personal debt

I filed bankruptcy on Jan 28th and went to my trustees meeting on March 5th. I thought I was in the clear. Then yesterday I get a letter saying the following:

The court has entered an order pursuant to its admission and disciplinary rules D.Id.L.Civ.R83.4, and 83.5 that attorney(his name) voluntarily disqualifiied himself from the practice of law until further notice Based thereupon:

YOU ARE HEREBY NOTIFIED that no further proceedings can be had in this action that will affect the rights of the party or parties representeted by Counsel, for a period of 21 days from the date of this order, except as the court might allow for a good cause.

It is further ordered that counsels clients the above debtors shall retain another attorney to appear for client, or in the alternative appear in person by filing written notice with the court stating how client will represent itself within 21 days of date of this order. If client fails to appear either in person or through a new attorney within suck 21 day period, such failure shall be sufficient grounds for the entry of default or other relief on pending matters, or may be grounds for dismissial of any mortions or proceedings with predjudice and without further notice.

So if I have already completed the whole process, filing, all the classes, and going to the meeting of creditors meeting, what do I have to do?? please help if you know what all this means and my best step moving forward. Thanks!

Technorati Tags: admission, bankruptcy, civ, debtors, disciplinary rules, failure, further notice, meeting of creditors, predjudice, proceedings, sufficient grounds

Today I called about my gift card for Bennigan’s and I received the following message.

"S&A Restaurant Corp. and certain affiliates have filed for bankruptcy under Chapter 7 of the bankruptcy code. The companies that filed bankruptcy cases are popularly known as Steak & Ale, Bennigan’s and Tavern restaurants. However, not all stores using these trade names have filed bankruptcy. For example, stores operated by franchisees are not named as debtors in these filings.

"It is our understanding the Michelle Chow will be appointed as Chapter 7 trustee for the entities that have filed. These are filed as liquidation cases. Future decisions regarding the affairs of the debtor companies will be determined and administered by the trustee.

"If you wish to file a claim, the form Proof of Claim can be found online at: http://www.uscourts.gov/rules/BK_Forms_1207/B_010_1207f.pdf.

"The filing does not include Ponderosa and Bonanza which operate under Metromedia Steakhouses Company, L.P."

My question is…

How do I file a claim? (There are many terms and questions on the form that I am not familiar with and I would love to see an example of a completed form.)

Technorati Tags: amp, bankruptcy cases, bankruptcy code, bennigan s, bk, bonanza, chapter 7, chow, companies that filed bankruptcy, debtors, entities, franchisees, gift card, liquidation cases, metromedia, ponderosa, proof of claim, steakhouses, trade names, trustee