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I replied to mailers solicitations over the years that claim…

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Hi Terry, I replied...

Hi Terry, I replied to mailers solicitations over the years that claim that they could postpone or eliminate my foreclosure sale date. They did not eliminate it but they helped me postpone the sale date now I am at the end of the line and the mortgage company is asking for release of stay and it looks like they will get it. I am doing a chapter right now and have completed all the requirements that the trustee has asked me except for the 341 hearing. I really intended to go through with this and all the information is sent in. I have found out new information on how a BK discharge can affect me negatively in what I have to pursue now that I have to find a new rental due to loosing my house. I am thinking about getting my BK chapter 7 dismissed on account of this new information are there repercussions to this possible backing out ???

Lawyer's Assistant: What state are you in? And has anything been officially filed?

In California and yes it has been filed hello I replied to mailers solicitations over the years that claim that they could postpone or eliminate my foreclosure sale date. They did not eliminate it but they helped me postpone the sale date now I am at the end of the line and the mortgage company is asking for release of stay and it looks like they will get it. I am doing a chapter right now and have completed all the requirements that the trustee has asked me except for the 341 hearing. I really intended to go through with this and all the information is sent in. I have found out new information on how a BK discharge can affect me negatively in what I have to pursue now that I have to find a new rental due to loosing my house. I am thinking about getting my BK chapter 7 dismissed on account of this new information are there repercussions to this possible backing out ???

Lawyer's Assistant: Has anything been filed in civil court? If so, what?

No noting has been filed in civil court

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

No thank you that is it

Submitted: 4 months ago.Category: Bankruptcy Law
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Answered in 2 minutes by:
3/20/2018
Bankruptcy Lawyer: socrateaser, Attorney replied 4 months ago
socrateaser
socrateaser, Attorney
Category: Bankruptcy Law
Satisfied Customers: 40,068
Experience: Attorney and Real Estate Broker -- Retired
Verified

Hello,
Please allow me a few minutes to consider your question. If I can assist I will provide an answer. Otherwise, I will reopen the question for others to assist.
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Bankruptcy Lawyer: Law Educator, Esq., Attorney replied 4 months ago
Law Educator, Esq.
Category: Bankruptcy Law
Satisfied Customers: 125,884
Experience: Attorney At Law handling education matters.
Verified

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

Well, the only real negative repercussions would be the creditors can pick up their claims against you and accelerate collections against you and the suits for judgment will start being filed against you. The only other issue you could face is if they prove that you filed bankruptcy fraudulently, they could pursue fraud charges against you. But if you qualify for BK and no fraud was involved, then if you back out, the creditors will typically rush to the court to sue to get judgments against you.

If you really cannot pay judgments for the debt you have, then you need to reconsider backing out of the BK.

Please do not forget to leave positive feedback by clicking on the 5 stars at the top of your page, as the experts are not employees of the site and get no credit for spending time with customers unless they leave positive feedback. Thank you.

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Customer reply replied 4 months ago
ok
Bankruptcy Lawyer: Law Educator, Esq., Attorney replied 4 months ago

Thank you.

Please do not forget to leave positive feedback by clicking on the 5 stars at the top of your page, as the experts are not employees of the site and get no credit for spending time with customers unless they leave positive feedback. Thank you.

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Customer reply replied 4 months ago
how can fraud be determined by the creditors? My mortgage is claiming that I used it to postpone foreclosure and is using it in the body for the motion of the release of stay which I have not opposed in writing to the trustee. I also responded by filing the limited non opposition to those allegations. The release of stay hearing is set for one week from now. My 341 hearing is set for about 2 and half weeks from now I was hoping that the mortgage company will be satisfied with winning the release of stay and having closure and that will be as far as that would go and then I can vacate the bankruptcy about 10 days prior to the 341 hearing and give amble notice the the trustee.
Bankruptcy Lawyer: Law Educator, Esq., Attorney replied 4 months ago

Thank you for your reply.

They would be able to force you to produce your financial records when they sue you and if it proves that you have assets that could be used to pay your debts, they will claim that the BK was fraudulently filed. If they do release the stay, then you dismiss your BK, the other creditors you have will come after you, that is what I was saying above.

Please do not forget to leave positive feedback by clicking on the 5 stars at the top of your page, as the experts are not employees of the site and get no credit for spending time with customers unless they leave positive feedback. Thank you.

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Customer reply replied 4 months ago
what about the US bankruptcy court will they be upset? After the house has been taken away from me I have to be able to rent a place and move forward and with having a BK on my record that is going to be hard and I have no assets outside of the exemption. The suit from the creditors is an independent law suit that they can go forward with later and not tied with the current bankruptcy that I hope to dismiss?
Bankruptcy Lawyer: Law Educator, Esq., Attorney replied 4 months ago

Thank you for your reply.

The BK court will not be "upset" unless they get proof of BK fraud. Otherwise, people dismiss their BK claims frequently, it does not upset the court.

That is correct the suits from creditors is separate from the BK case for them to pursue you for what you owe them.

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Customer reply replied 4 months ago
well, how would there be proof of BK fraud? again my mortgagor is saying I am using this BK to postpone foreclosure and to have a strong case for their motion of release of stay which again I have agreed with their motion of relief because I have no legitimate claim to the property but concurrently I have responded with filing the limited non opposition to their claims of using this BK as a tactic. I have done everything honestly with my BK but I did not realize that a BK greatly compromises my necessity to rent on the open market now that my other option has vanished to move in with a friend also my dad is sick and might pass on and I might possibly be receiving something from him although not for sure
Bankruptcy Lawyer: Law Educator, Esq., Attorney replied 4 months ago

Thank you for your reply

As I said above, they will look at all of your asset and bank account records to see if there is fraud. If you have done everything honestly, then you do not have to worry about fraud.

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Customer reply replied 4 months ago
when you say "they will look at all of your asset and bank account records to see if there is fraud" who are they the BK court or the creditors for future suit?
Customer reply replied 4 months ago
hello are you still there??
Bankruptcy Lawyer: Law Educator, Esq., Attorney replied 4 months ago

Thank you for your reply.

I am still here, but we are working with many customers at one time and they all deserve the same time you do. Thank you for your patience.

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Customer reply replied 4 months ago
sure thank you I will be waiting for your reply as soon as you can
Bankruptcy Lawyer: Law Educator, Esq., Attorney replied 4 months ago

The trustee has your bank records. Also, if you are sued by other creditors, they can get your records as well by subpoena. So it will become apparent if you are hiding assets and that is where you would get in trouble if there is fraud. But if as you said you are following the law, you have absolutely nothing to worry about on that.

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Customer reply replied 4 months ago
Thank You I have just one my mortgagor is claiming I am using the bk system strictly for the purposes of postponement.and therefore claiming this filing is not in good faith. The trustee already knew about thisand Iam prepared to respond to him in the 341 hearing. There is nfraud in my filing just the allegations of the morgageor that I am not entering into this in good faith to consumate but just to postpone.I know they will win the stay and am hoping their fraud allegations for just filing to postpone will die when they receive the stay. Independently my case has merit and was done almost to the end in good faith.Will the stay allegations tint my case and pigeon hole me into the trustee biasly broadstoking my case as fraud and continuing with that perspective. or is the bk cas treated separately from the relief of stay. in other words are the 2 separate events?
Thank you very much for your time and I will be sure to give positive feedback
Bankruptcy Lawyer: Law Educator, Esq., Attorney replied 4 months ago

Thank you for your reply.

Of course the mortgage company will complain you did not file in good faith, they want the stay lifted and will say anything to get that However, what they say and what they can prove are two different things. So, you said you qualify and therefore you can prove that you do qualify for BK and as such you do not have to worry about the trustee siding with the bank about your lack of good faith.

Please do not forget to leave positive feedback by clicking on the 5 stars at the top of your page, as the experts are not employees of the site and get no credit for spending time with customers unless they leave positive feedback. Thank you.

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