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briansol · 09-04-2009, 08:56 PM

Filing Bankruptcy is the START of true financial problems. You're pretty much screwed with whatever you own now for the next 7-10 years before you'll get approved for ANY loan again.

James · 09-05-2009, 06:26 AM

Oh I know. I don't plan on needing any loans in the next 10 years. With that much money being saved, I can afford a new engine/transmission for the car, or the water heater for the house outright, etc. My whole point is to get my expenses to go down and stay down and build up a savings. I want to take German so I can learn some of the native language of Germany, which is one of my long term goals.

sjoslyn · 09-21-2009, 08:13 PM

I guess I've never really studied about bankruptcy, but it sounds like you will not be responsible for any of the 25k in debt that you currently have after this has been dispositioned? How does that weigh on you emotionally? Just curious, thats all.

James · 09-23-2009, 01:16 PM

It does hurt. I've always been able to pay back what I borrow, but in the long run I just need to get out from under the rock because I feel like I'm being crushed. I literally can't go out and do anything. Roommates want to go to bars, want to go bowling, want to go to car/truck shows, and I just can't afford the 12 bucks that takes for the week. Basically I get paid and then it's paid to creditors and I'm eating cheap frozen food constantly.

I hate that I would do that to a company, but "we're here to help" means you pay us or we'll sue you and garnish your wages. I'm done with threats and I'm done not being able to do anything when I want to.

titan22 · 09-23-2009, 03:27 PM

well then congratulations man. it will be a relief when you don't have to deal with that stuff anymore. i used to HATE having my phone off because of all the calls. eventually my phone just got shut off too. lol

James · 09-29-2009, 04:08 AM

Back taxes are paid up, and actually overpaid. The mortgage payment went down and the exemptions are in place now.

I'm getting a check back for 430 some dollars, along with the 680 I got back from the debt services company, this bankruptcy is almost all paid for. Then its time to start saving.

I'm not telling the roommates, and nobody tell BDN yet. I need to get a little extra cash for the month until this all goes through. I'll let them know come the first of the year. Maybe.

briansol · 09-29-2009, 09:05 PM

its yoru house. just because you re-fi'ed and your house costs you less doens't mean you should change your rent.

titan22 · 09-29-2009, 09:15 PM

Quote:

Originally Posted by briansol

its yoru house. just because you re-fi'ed and your house costs you less doens't mean you should change your rent.

so true. just because your cost goes down doesn't mean it should affect them. how do you think renters profit? you refi'd to benefit you, not your living companions. lol

James · 09-30-2009, 04:00 AM

I didn't refinance though, rent went up because of taxes that weren't accounted for or paid by me so I had to make them up. They were made up and now the mortgage is going back to where it was.

Your responses though are kind of intriguing. I felt guilty about not telling them, now I don't feel so bad.

It'll be nice to have the extra 100 a month though. Maybe I'll be able to get the chase card paid down so that Verizon will stop shutting off service for non payment when their debit doesn't go through because I'm a penny short on the card.

briansol · 10-05-2009, 10:46 AM

keep it and bank it aside for a rainy day when THEY are hard up and need a break for a month or something. or, buy some pizza for the house every now and then on you. it all evens out in the end.

James · 03-04-2010, 12:47 PM

So they garnashed my bank account. I always thought a garnashment meant a percentage of my money went to them, leaving me enough to at least be able to eat or do something. Nope. Out of the $1059 in my bank account. They took every last penny. In fact, it made me overdraw by 9 dollars, because they took it without notice.

I just flat out haven't had the time to actually get to filing the bankruptcy. I can't get to my paystubs with my dad here.

How the fuck is that legal? To just take every damn penny available?

briansol · 03-07-2010, 02:59 AM

Who is they?

James · 03-08-2010, 12:22 PM

GE Money. One of the three I'm doing the bankruptcy on. They attached to the entire amount in my bank account.

briansol · 03-10-2010, 04:09 PM

I don't know the legalities of this kind of stuff, but it seems like your bank should have protected your assets, unless there was a court order or something of the sort to seize/freeze them. Have you been in contact with your bank?

titan22 · 03-10-2010, 04:48 PM

they can't just get your money. there has to be some court injunction or filing. call the bank and whoever took your money.

James · 03-11-2010, 08:01 PM

It was legal, I was told by the bankruptcy attorney to just ignore the court. I was going to try to file in December but we were too slammed for me to take the afternoon off at any time. So it went through the courts and then without notice it was just taken.

I don't care that they took it, just that they took EVERY last penny in there. Hell I owe it to them, and I have a court injunction for them to be able to garnash my paycheck sitting here.

titan22 · 03-11-2010, 08:34 PM

you should start holding cash under your mattress. keep it out of the bank for a while.

James · 03-15-2010, 01:23 PM

I gotta put something in there for them, they're going to be garnashing my paycheck anyway. But without cash in the bank I can't pay bills since I do it all online. I did just cash my check a few weeks ago and just took it home with me.

titan22 · 03-15-2010, 04:29 PM

you should go old school and get a checkbook. i keep one just for random shit like parking tickets and such.

James · 03-16-2010, 02:41 PM

I have a checkbook, somewhere... I hate writing checks.

James · 04-21-2010, 08:52 PM

Settlement, 111.28 weekly. They're basically taking a paycheck every month. In Indiana they're allowed to take 25% of your net pay in settlements like this. Fucking hate it here. This state sucks, shitty lakes, no beaches, corn all summer, shitty cold all winter.

I think it'll all work out eventually, because my tax return of 1300 they're not taking will pay off my car (950.20 or three payments left on it, and I just made my 4th to final payment today) and HH Gregg account, and a lot of my Chase cc.

So, they're taking 445.12, but I'm dropping somewhere between 320-400 in expenses a month when I receive it. (If my federal return doesn't come before I pay off my car, then I'll pay it normally and use it for the Chase cc).

briansol · 04-21-2010, 09:15 PM

Well, that's not too too bad.. the car payment will basically turn into the settlement payment, so you're pretty much right where you were, only you own your car outright now and you'll be paying down the debt.

James · 04-26-2010, 08:26 PM

I went to chase and asked for a refinance on the mortgage. I doubt they'll give me one so I wanted to ask you guys first, would they allow a cosigner on a refi? If so, what impact could the cosigning have on this persons' credit? I'm terrified of losing the house, it's like the one thing I want to keep... with missing an entire paycheck every month I have a feeling I'm going to fall behind on everything else.

The county assessor on the property assesses it at 68k, I just need to borrow 17k to get this shit off my back, and I owe 48,250 on it.

briansol · 05-01-2010, 08:54 PM

pretty much no one is going to lend you anything for 7 years after bankruptcy. your refi paper work will likely be returned with a big no.
co-signers are basically guinea pigs. if you can't pay, who ever signed for you is legally obligated to do so 100% on your behalf. It's a good way to have someone hate you or disown you.

With the car payment gone in a few months, you'll be right where you were last month money wise. You shouldn't have many issues keeping it.

James · 06-16-2010, 12:08 PM

Well they pretty much told me no on both accounts. I need to raise my credit like 80 points for them to consider a refinance, and they stopped doing cosigners on mortgages 8 months ago. lol

Some good news though, I dropped 500 on an expense and paid it off... save for the 87 cents still left on it. lol I wish I'd looked at the statement prior to paying it so that I'd noticed that last 87 cents. But I found it pretty funny when I got that in the mail the other day.

09-04-2009, 08:56 PM	#26
briansol Administrator Join Date: Aug 2006 Location: Central CT Age: 30 Posts: 738 Rep Power: 10	Filing Bankruptcy is the START of true financial problems. You're pretty much screwed with whatever you own now for the next 7-10 years before you'll get approved for ANY loan again. __________________ Any thoughts or opinions are that of my own. Research your buys and sales on your own. I am not a stock broker.

09-23-2009, 03:27 PM	#30
titan22 Super Moderator Join Date: Aug 2006 Location: West Coast Posts: 773 Rep Power: 5	well then congratulations man. it will be a relief when you don't have to deal with that stuff anymore. i used to HATE having my phone off because of all the calls. eventually my phone just got shut off too. lol __________________ This post does not express the opinions of the website, it's members, or its owner. Always invest with caution and do proper research. If you have questions, consult a paid, investment professional.

09-29-2009, 09:05 PM	#32
briansol Administrator Join Date: Aug 2006 Location: Central CT Age: 30 Posts: 738 Rep Power: 10	its yoru house. just because you re-fi'ed and your house costs you less doens't mean you should change your rent. __________________ Any thoughts or opinions are that of my own. Research your buys and sales on your own. I am not a stock broker.

10-05-2009, 10:46 AM	#35
briansol Administrator Join Date: Aug 2006 Location: Central CT Age: 30 Posts: 738 Rep Power: 10	keep it and bank it aside for a rainy day when THEY are hard up and need a break for a month or something. or, buy some pizza for the house every now and then on you. it all evens out in the end. __________________ Any thoughts or opinions are that of my own. Research your buys and sales on your own. I am not a stock broker.

03-07-2010, 02:59 AM	#37
briansol Administrator Join Date: Aug 2006 Location: Central CT Age: 30 Posts: 738 Rep Power: 10	Who is they? __________________ Any thoughts or opinions are that of my own. Research your buys and sales on your own. I am not a stock broker.

09-05-2009, 06:26 AM	#27
James broke n' stuff Join Date: Jul 2007 Posts: 58 Rep Power: 4	Oh I know. I don't plan on needing any loans in the next 10 years. With that much money being saved, I can afford a new engine/transmission for the car, or the water heater for the house outright, etc. My whole point is to get my expenses to go down and stay down and build up a savings. I want to take German so I can learn some of the native language of Germany, which is one of my long term goals.

09-21-2009, 08:13 PM	#28
sjoslyn Greenhorn Join Date: Mar 2009 Posts: 14 Rep Power: 0	I guess I've never really studied about bankruptcy, but it sounds like you will not be responsible for any of the 25k in debt that you currently have after this has been dispositioned? How does that weigh on you emotionally? Just curious, thats all.

09-23-2009, 01:16 PM	#29
James broke n' stuff Join Date: Jul 2007 Posts: 58 Rep Power: 4	It does hurt. I've always been able to pay back what I borrow, but in the long run I just need to get out from under the rock because I feel like I'm being crushed. I literally can't go out and do anything. Roommates want to go to bars, want to go bowling, want to go to car/truck shows, and I just can't afford the 12 bucks that takes for the week. Basically I get paid and then it's paid to creditors and I'm eating cheap frozen food constantly. I hate that I would do that to a company, but "we're here to help" means you pay us or we'll sue you and garnish your wages. I'm done with threats and I'm done not being able to do anything when I want to.

09-29-2009, 04:08 AM	#31
James broke n' stuff Join Date: Jul 2007 Posts: 58 Rep Power: 4	Back taxes are paid up, and actually overpaid. The mortgage payment went down and the exemptions are in place now. I'm getting a check back for 430 some dollars, along with the 680 I got back from the debt services company, this bankruptcy is almost all paid for. Then its time to start saving. I'm not telling the roommates, and nobody tell BDN yet. I need to get a little extra cash for the month until this all goes through. I'll let them know come the first of the year. Maybe.

09-30-2009, 04:00 AM	#34
James broke n' stuff Join Date: Jul 2007 Posts: 58 Rep Power: 4	I didn't refinance though, rent went up because of taxes that weren't accounted for or paid by me so I had to make them up. They were made up and now the mortgage is going back to where it was. Your responses though are kind of intriguing. I felt guilty about not telling them, now I don't feel so bad. It'll be nice to have the extra 100 a month though. Maybe I'll be able to get the chase card paid down so that Verizon will stop shutting off service for non payment when their debit doesn't go through because I'm a penny short on the card.

03-04-2010, 12:47 PM	#36
James broke n' stuff Join Date: Jul 2007 Posts: 58 Rep Power: 4	So they garnashed my bank account. I always thought a garnashment meant a percentage of my money went to them, leaving me enough to at least be able to eat or do something. Nope. Out of the $1059 in my bank account. They took every last penny. In fact, it made me overdraw by 9 dollars, because they took it without notice. I just flat out haven't had the time to actually get to filing the bankruptcy. I can't get to my paystubs with my dad here. How the fuck is that legal? To just take every damn penny available?

03-08-2010, 12:22 PM	#38
James broke n' stuff Join Date: Jul 2007 Posts: 58 Rep Power: 4	GE Money. One of the three I'm doing the bankruptcy on. They attached to the entire amount in my bank account.

03-10-2010, 04:09 PM	#39
briansol Administrator Join Date: Aug 2006 Location: Central CT Age: 30 Posts: 738 Rep Power: 10	I don't know the legalities of this kind of stuff, but it seems like your bank should have protected your assets, unless there was a court order or something of the sort to seize/freeze them. Have you been in contact with your bank? __________________ Any thoughts or opinions are that of my own. Research your buys and sales on your own. I am not a stock broker.

03-10-2010, 04:48 PM	#40
titan22 Super Moderator Join Date: Aug 2006 Location: West Coast Posts: 773 Rep Power: 5	they can't just get your money. there has to be some court injunction or filing. call the bank and whoever took your money. __________________ This post does not express the opinions of the website, it's members, or its owner. Always invest with caution and do proper research. If you have questions, consult a paid, investment professional.

03-11-2010, 08:01 PM	#41
James broke n' stuff Join Date: Jul 2007 Posts: 58 Rep Power: 4	It was legal, I was told by the bankruptcy attorney to just ignore the court. I was going to try to file in December but we were too slammed for me to take the afternoon off at any time. So it went through the courts and then without notice it was just taken. I don't care that they took it, just that they took EVERY last penny in there. Hell I owe it to them, and I have a court injunction for them to be able to garnash my paycheck sitting here.

03-11-2010, 08:34 PM	#42
titan22 Super Moderator Join Date: Aug 2006 Location: West Coast Posts: 773 Rep Power: 5	you should start holding cash under your mattress. keep it out of the bank for a while. __________________ This post does not express the opinions of the website, it's members, or its owner. Always invest with caution and do proper research. If you have questions, consult a paid, investment professional.

03-15-2010, 01:23 PM	#43
James broke n' stuff Join Date: Jul 2007 Posts: 58 Rep Power: 4	I gotta put something in there for them, they're going to be garnashing my paycheck anyway. But without cash in the bank I can't pay bills since I do it all online. I did just cash my check a few weeks ago and just took it home with me.

03-15-2010, 04:29 PM	#44
titan22 Super Moderator Join Date: Aug 2006 Location: West Coast Posts: 773 Rep Power: 5	you should go old school and get a checkbook. i keep one just for random shit like parking tickets and such. __________________ This post does not express the opinions of the website, it's members, or its owner. Always invest with caution and do proper research. If you have questions, consult a paid, investment professional.

03-16-2010, 02:41 PM	#45
James broke n' stuff Join Date: Jul 2007 Posts: 58 Rep Power: 4	I have a checkbook, somewhere... I hate writing checks.

04-21-2010, 08:52 PM	#46
James broke n' stuff Join Date: Jul 2007 Posts: 58 Rep Power: 4	Settlement, 111.28 weekly. They're basically taking a paycheck every month. In Indiana they're allowed to take 25% of your net pay in settlements like this. Fucking hate it here. This state sucks, shitty lakes, no beaches, corn all summer, shitty cold all winter. I think it'll all work out eventually, because my tax return of 1300 they're not taking will pay off my car (950.20 or three payments left on it, and I just made my 4th to final payment today) and HH Gregg account, and a lot of my Chase cc. So, they're taking 445.12, but I'm dropping somewhere between 320-400 in expenses a month when I receive it. (If my federal return doesn't come before I pay off my car, then I'll pay it normally and use it for the Chase cc).

04-21-2010, 09:15 PM	#47
briansol Administrator Join Date: Aug 2006 Location: Central CT Age: 30 Posts: 738 Rep Power: 10	Well, that's not too too bad.. the car payment will basically turn into the settlement payment, so you're pretty much right where you were, only you own your car outright now and you'll be paying down the debt. __________________ Any thoughts or opinions are that of my own. Research your buys and sales on your own. I am not a stock broker.

04-26-2010, 08:26 PM	#48
James broke n' stuff Join Date: Jul 2007 Posts: 58 Rep Power: 4	I went to chase and asked for a refinance on the mortgage. I doubt they'll give me one so I wanted to ask you guys first, would they allow a cosigner on a refi? If so, what impact could the cosigning have on this persons' credit? I'm terrified of losing the house, it's like the one thing I want to keep... with missing an entire paycheck every month I have a feeling I'm going to fall behind on everything else. The county assessor on the property assesses it at 68k, I just need to borrow 17k to get this shit off my back, and I owe 48,250 on it.

05-01-2010, 08:54 PM	#49
briansol Administrator Join Date: Aug 2006 Location: Central CT Age: 30 Posts: 738 Rep Power: 10	pretty much no one is going to lend you anything for 7 years after bankruptcy. your refi paper work will likely be returned with a big no. co-signers are basically guinea pigs. if you can't pay, who ever signed for you is legally obligated to do so 100% on your behalf. It's a good way to have someone hate you or disown you. With the car payment gone in a few months, you'll be right where you were last month money wise. You shouldn't have many issues keeping it. __________________ Any thoughts or opinions are that of my own. Research your buys and sales on your own. I am not a stock broker.

06-16-2010, 12:08 PM	#50
James broke n' stuff Join Date: Jul 2007 Posts: 58 Rep Power: 4	Well they pretty much told me no on both accounts. I need to raise my credit like 80 points for them to consider a refinance, and they stopped doing cosigners on mortgages 8 months ago. lol Some good news though, I dropped 500 on an expense and paid it off... save for the 87 cents still left on it. lol I wish I'd looked at the statement prior to paying it so that I'd noticed that last 87 cents. But I found it pretty funny when I got that in the mail the other day.

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