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Frequent Contributor
dangphuocloc72
Posts: 341
Registered: ‎04-17-2007
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Re: What would a judge say about my expenses if i try BK?

casino  hurt me befor . everyone  can make mistake but if you stop now . it should be better in future . good luck .
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granny031350
Posts: 951
Registered: ‎12-04-2007
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Re: What would a judge say about my expenses if i try BK?

usually they take a house if you miss payments or if the lein is unperfected.  And that is in a chapter 7, not a chapter 13 as a rule.  The casino shouldn't matter in the chapter 13.  Yes the LESS disposable income you show the better in a chapter 13. 
gl
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LTrain823
Posts: 82
Registered: ‎04-25-2007
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Re: What would a judge say about my expenses if i try BK?

So it doesn't matter that I have used my credit cards a lot in the past 90-120 days if I go for a ch. 13?
Established Contributor
granny031350
Posts: 951
Registered: ‎12-04-2007
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Re: What would a judge say about my expenses if i try BK?

no  but you won't have them to use in the chapter 13 so best to start now living on cash only basis
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LTrain823
Posts: 82
Registered: ‎04-25-2007
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Re: What would a judge say about my expenses if i try BK?

I dont plan on using any cresit cards period for now. But are you sure they wont say anything about this? Also, what are the chances of me keeping one of the cards? I have a capitol one card that only has a 500 credit line. My company requires me to pay for all company expenses and then they reimburse it, i would like to have a cc to do this rather than using my debit card for this. Do you think Capitol one will cancel the card? It's also my oldest card...i've had it since i was 18.
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rubaty
Posts: 380
Registered: ‎11-18-2007
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Re: What would a judge say about my expenses if i try BK?

I would definately suggest that you go with a chap 13 BK instead of a DMP!  When I filed many years ago, I got to keep everything even my car.  Plus, it made me feel good that I was able to repay some of the money that the creditors gave me.  Right after my BK, I got 2 secured CC and was able to start over.  The BK only stayed on my CR for 7 years but the individual credit accts stayed for 10 yrs.

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Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007
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Re: What would a judge say about my expenses if i try BK?



LTrain823 wrote:
 
I am meeting with a ch. 13 lawyer in friday. The first lawyer i spoke with said he doesnt do chapter 13's so he referred me to someone else.
Be sure you bring all your questions. Write 'em down. No matter how stupid or trivial it may seem. Get a composition notebook--one of those black and white cow looking ones with pages you cannot rip out, at least not easily. Make notes, jot down questions. Use it for your BK and nothing else.
 
Be sure to ask about the differences and advantages/disadvantages of BK7 versus BK13. And be sure this lawyer does both BK7 and BK13.
 
I think if you can get qualified for a BK7, I'd go that route. Some who post from the pulpit will probably preach the evils of BK7. You ain't gonna hear that from me. I say if you're in too deep, and you can get a BK7, take it. You're out from under the thumb of the debts completely. Fresh start and all that. It's sorta like going "cold turkey" whereas BK13 just weans you off by cutting down "to a pack a day".
 
Is the goal to show as less disposable income as possible?
Question #1 for the notebook for the lawyer
...
What happens if i have used a lot of credit cards in the past 90-120 days?
Just be honest with your attorney about why you used the CCs.
...
I know I know, please spare me the preach
...
If i owe many friend and family money will the trustee let me use the tax return check to pay them back? Does it make sense to wait until i get my check before i fil bk?
...
I spoke to someone yesterday who told me that his lawyer told him that they will not touch his house and then 6 months later the mortgage company forced him to forclose...that worries the hell out of me!!!
Did this person self file or use a lawyer?



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