few questions about my chap 7.

[Anonymous]

Yesterday I recieved a letter from the court. It was telling me who my trustee is and also case number, 341 meeting time yada yada yad.

It states that "The presumption of abuse does not arise" What does this mean.

Also under Deadlines it has "Deadline to object to debtors discharge or to challenge dischareablitly of certain debts : 2/17/15..Thats two months after my 341 meeting which is on 12/17/14. Does that mean discharge will hapen on the 17th or is that just a deadline for them to object.

I wonder how many times after the 341 meeting do they try to object.

Also since I was flat broke I am not paying my truck payment since the the 7th of November. I did choose to re-affirm so they would not try to take it right away.

In Chap 7 do they often comeback with a lower balance on the truck or do they just usually want you to catch up the payments from the date you filed if you plan on keeping.

I don't wanna keep the truck since I am upside down in it. I don't even think they will let me. I just do feel bad about driving it without paying for it, but yet I won't have the cash to buy a car until about the end of Feb. And even then something for around 5k.

[Anonymous]

Having no "presumption of abuse" means that it appears to the clerk of the court that you do not have the ability to repay your debts. This means that your case can proceed in a normal way. Assuming you get no objection, you will probably receive a discharge within a few weeks after 2/17/15.

Here is a link to an article with tips on getting a better deal when you try to reaffirm your truck loan. 

[ezdriver]

During the reaffirmation process is the best time to try and negotiate improved terms [eg: lower rate, reduced balance, etc.] otherwise the agrrement will show the full payment of the original loan per the terms of your purchase finance agreement. Reaffirming a car loan simply based on your desire to delay repossession of the vehicle is a bad idea. Very few auto finance companies immediately repossess the vehicle if you continue to make regular payments and payment plan for the late/nonpayments.

[despritfreya]

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FreeBankruptcyLawyer wrote: Having no "presumption of abuse" means that it appears to the clerk of the court that you do not have the ability to repay your debts. This means that your case can proceed in a normal way. Assuming you get no objection, you will probably receive a discharge within a few weeks after 2/17/15.

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Not very accurate info.

1.  No presumption of abuse means you filled out Form 22C showing either you were below median income or you had no disposable income after completing the means test.

2. If the case proceeds in the "normal way", you are not getting your discharge within a "few weeks after 2/17/15".  You will be entitled to the entry of a discharge no sooner than 60 days from your initial 341 meeting.

If you have further questions as to your case, please consult with a bk attny in your local area.

Des.

[Anonymous]

I only have my own anecdotal evidence but what surprised me is that my Chapter 7 Discharge did not come until nearly a month after the deadline for objections has passed. I even had my lawyer contact the clerk to see what was up...the answer? Slow Clerks and understaffing. Very frustrating at the time. The whole process from filing to discharge took 4.25 months for me.

Good luck!

[Anonymous]

At this time, most discharges are being issued about 2 weeks after the objection deadline. The form in question is B22A. The questioner may or may not know what that form is, nor what it does. My answer avoided hyper accuracy in favor of providing useful direction to the general reader. 

[0REDSOX7]

My BK district does them once a month - so, depending on when your 60 days is up falls determines when you get your discharge...

[Anonymous]

Thanks guys.

I filed on the 7th of this month and already I've been getting tons of offers from car lots, dealers, credit cards for Bankruptcy loans. If it's this bad already I can see how easy it is for people to fall back into debt fast.

Even my own credit union who I did not file on a small loan I have with them send me a pre-aproval with a some local dealers for 25k at 8%.

I know most of these have to be scams since I didn't think you could even get a loan during your case.

[StartingOver10]

I don't think the pre-approval solicitations mean for you to run out and get credit during the bk so much as let you know that credit is available.  They send the postcards to you so you know you can get a vehicle financed after your discharge. Naturally the rates they are promoting are subject to change ....

They are nothing but lead generators for the auto loan finance people and sales reps. You also have a leg up on most of the filers because you know from here that it is possible to get a decent loan after discharge - but you have to prepare your credit file first. Many just head on down to the dealership and end up in another really bad loan because they don't do the necessary education and prep first.

[pizza1]

Do NOT apply for any credit what so ever even a car loan until you receive your official discharge! You could put a wrench in the whole thing. Chapter 7 will not allow you to do that, and if the trustee gets words of it, he could file motion to have it dismissed. Just wait it out like the rest of us, do your homework on rebuilding AFTER your discharge in the mean time. Don't screw it up by applying for credit that you won't get approved for anyways. You have a lot of work to do first cleaning up your credit reports post BK, and reading these forums to be successful after bk. just sit tight, and do your research in these forums good luck... It'll get better. I'm 1 yr 3 mo post BK7, and have rebuilt completely