I recently got divorced and got stuck with all the credit
I recently got divorced and got stuck with all the credit card debt, over $55k. Now being on a single income I'm burning through my savings account just to make the minimum monthly payments. I've never been late on a payment and have always had good credit and I don't want to file for bankruptcy, cause I'd have to do chapter 13 cause I make to much money to file for chapter 7. I looked into the credit card debt relief companies, but really don't want to go delinquent on my credit cards while they try to settle with the creditors. So, my question is, I got a phone call from a company who says they can do credit card debt dismissal. Where they get all my credit card debt completely dismissed, I guess they file some paperwork for the collection agencies who purchase my debt from the creditors stating prove that I owe what I owe and I guess the creditors don't give all that info to the collection agencies, so it gets dismissed. They also state that they get the negative marks on my credit report removed after the debt is dismissed. I obviously have to go delinquent on my cards with this program as well and would have about a $600/month payment for 30 months, compared to $1400/month for my minimum monthly payments. Have you heard of this type of company and is it legit or can debt not get dismissed like that and this company is a scam? Thanks.Troy
I have another Bankruptcy question that has arisen and am
Hello,I have another Bankruptcy question that has arisen and am looking for help. My office is a govt agency that is a division of the CalEPA. Lets assume our claim is a non-priority claim. A company owed our office $30,000 from many, many years ago and then filed a chapter 11 bankruptcy in 1991. We therefore filed a Proof of Claim for the amount of money the company owed our agency. In 2010, the BK was converted to a chapter 7 case and the docket says "voluntary" and "assets". The docket also says "debtor disposition: discharge is not applicable" and that the BK was later terminated on 12/15/15.1. Hence, what happened to our Proof of Claim, meaning why didn't we get any payments? 2. Also, since this company is still in business today, could we still go after them for the money they owed us through regular collection efforts?
I received your response to one of my previous questions and
I received your response to one of my previous questions and I really liked how you described the different scenarios when reaffirming the vehicle in the bankruptcy process. I wanted to ask you if it was true, if the vehicle is not reaffirmed by the judge, the vehicle payments are not reported to the credit bureaus? Also, usually what is the percentage or ratio does your monthly expenses and car payment have to be in order for the reaffirmation to be approved by the judge? TIA.
Is it possible to see how the court ruled on the issue
Is it possible to see how the court ruled on the issue argued in the Memoradum of Law that you provided involving these same litiagants?http://www.freedom-school.com/money/ultra-vires-banks--on-credit-loans-and-void-contracts.pdf
I have some technical questions regarding a Ch. 13 Modified
I have some technical questions regarding a Ch. 13 Modified Plan that my trustee has an objection to (I am a pro se filer) --Within the Plan in its current form, I have proposed to make adequate protection payments of $30.63/month to TitleMax on a title loan (which I also have made a motion to 'cram down) *until* such time as the trustee begins making those payments out of my plan funds. I proposed these protection payments to ensure that Titlemax does not repossess my vehicle during the time prior to my plan confirmation (i.e., prior to the time the trustee begins paying Titlemax). The trustee objects on the basis that I did not subtract the $30.63/month payments on Schedule J as an expense. Currently, my proposed plan payments are $88/month; subtracting the $30.63/month would make them $57.37/month. I am confused in that I am under the impression that I can stop making the adequate protection payments to TitleMax once my plan is confirmed and my trustee starts paying them....is my understanding correct?...and if it is: If I am to amend Schedule J + my Plan *now* to reflect the current $30.63/month payments to TitleMax....would I then also need to amend Schedule J + my Plan once it is confirmed (as the $30.63 no longer will be an expense after the trustee begins making the payments to TitleMax) ?I have included screenshots of the Trustee's objection as well as the sections of Schedule J and my Modified Plan that are in question.
This is a chapter 13 cram down question. The Debtor has a
This is a chapter 13 cram down question. The Debtor has a loan against a vehicle which was obtained (the loan) less than 910 days ago. However, it is NOT a purchase money security interest, only a secured debt. Can the Debtor cram this down to pay only the collateral value back through the plan? Thank you in advance for your assistance.