Filed Pro Se

[justbroke]

Excellent suggestion on backing up local files. One can never back up too much.

First, maybe you should come over and look at my files!

Secondly, I just completed my backup! Today it was to CDROM as I have an evidentiary hearing on TUESDAY. Oh boy.

[No Gravy]

First, maybe you should come over and look at my files!

Hahahahaha! Your system sounds like it works just fine

Secondly, I just completed my backup! Today it was to CDROM as I have an evidentiary hearing on TUESDAY. Oh boy.

Good luck on Tuesday! I'm sure you'll dazzle them with your organizational skills, and have the creditors quaking in their boots.

[justbroke]

Initial Confirmation Hearing

Back from my "Initial" Confirmation Hearing. I also had a Motion before the court to do some partial plan payments (outside of a Wage Deduction Oder). My motion was granted (yipee!). Since this was the initial hearing, it was really for the judge to get a flavor for the Debtor (me). The most significant question to the Tee, was "Is he current?" I am.

They said it takes 4-5 months for Confirmation. All of my Claims aren't in anyhow, so I can see why they wait for Confirmation.

I felt very comfortable, being the only pro se person there today, with all those lawyers. My confidence. after hearing the call for all persons in the matter to enter an appearance... when I walked up to the podium was perfect as I stated, without missing a heartbeat and looking the judge straight in the eyes "Good Morning your Honor. Mr. Debtor appearing pro se". She gave me a nod.

Both the Judge and the Tee were very pleasant and realized I was pro se but also realized that I had my stuff in order. I talked to the Tee's assistant after the hearing to go over some things in the Plan. Everything is okay for them so far!

[justbroke]

Finally, the Bank on my homestead has filed a motion for relief from the automatic stay. I quickly filed a concurrence response.

My problem: I noticed on the motion that the lender has asked if they could talk to me about a modification. I'm having second thoughts now! If they got rid of my second... I could actually afford the place.

Will let you know what happens. I would hate to move again (since I already abandoned the property).

[No Gravy]

Finally, the Bank on my homestead has filed a motion for relief from the automatic stay. I quickly filed a concurrence response.

My problem: I noticed on the motion that the lender has asked if they could talk to me about a modification. I'm having second thoughts now! If they got rid of my second... I could actually afford the place.

Will let you know what happens. I would hate to move again (since I already abandoned the property).

Might not hurt to talk to them and hear what their offer is. I don't believe you'd be bound to accept it, and if they're like MY lender and see a "modification" as requiring me to make the same payments I was...well, then that would make the decision so much easier.

[justbroke]

Might not hurt to talk to them and hear what their offer is. I don't believe you'd be bound to accept it, and if they're like MY lender and see a "modification" as requiring me to make the same payments I was...well, then that would make the decision so much easier.

I'm actually going to do this. My strategy, is to see if they'll change their second mortgage (they own both mortgages) to an unsecured claim (but I allow them to keep the lien). Would have to be some serious negotiating, but it's a win-win for everyone. Otherwise, I abandon and they get less than the value of the first!

[Flowers]

I am impressed and inspired by your decision to file pro se. Hope it continues to work out for you!

(ps: speaking of organization of paperwork, anyone ever see the old episode of the "Odd Couple"? Felix gets called down to the IRS office because they want to meet the man who makes their job so easy, such a pleasure with his organized returns!)

[No Gravy]

I'm actually going to do this. My strategy, is to see if they'll change their second mortgage (they own both mortgages) to an unsecured claim (but I allow them to keep the lien). Would have to be some serious negotiating, but it's a win-win for everyone. Otherwise, I abandon and they get less than the value of the first!

My lender's gonna be in for a shock when they do the final walk-through on my place.... I doubt the broker or the appraiser ever told them in was in the middle of a major remodel....

[MajorMike]

Wow 3-4 months for confirmation. We were confirmed the same day.
Good luck with the mortgage company.

[justbroke]

Okay, I'm having a full professional appraisal performed, at my expense, this week. Some initial eAppraisals and the Property Tax Assessment put the home's value below the secured claim (and principal mortgage balance) that was filed by the lender.

Yes, I'm going for a lien strip off!

This is very popular in the 11th Circuit, as the decision In Re: Tanner is very settled caselaw here. (They mention Noblemen as well, which was a Supreme Court case.) I have also been in session when a lien was successfully stripped, and it wasn't even that adversarial. Only thing entered into evidence was the Debtor's URAR (full professional appraisal) of the property.

Once I have the URAR, I will go back to the Bank. I still need a Modification on the arrearage to make my Plan not be negative.

This should get interesting, as it will totally change my Plan. This will also make the unsecured creditors real upset, as they are going down from 80%+ to under 10%!!! At this rate, I'll never be confirmed!

[justbroke]

UPDATE

Yes! My appraisal came in BELOW the value of my first mortgage! I have my Motion to Avoid Lien and Determine Secured Status as Unsecured all set. I will be filing it and serving it on the Creditor/Bank on Monday. Wish me luck.

I have other things I want to negotiate with the Bank (holding both notes), so I hope they don't get adversarial. I need them to do a Modification on the arrearages. My Plan works regardless, but the unsecured creditors are NOT GOING TO BE HAPPY.

I'm expecting at least two Objection to Confirmation of Plan filings because my unsecured creditors will go from a first plan of 80%+ to 1% (or slightly more depending). I know it will be a "bad faith" objection. I think I'm covered. I'm protecting my homestead, and that means more than anything else (and seems to have more weight in the Code).

[hughthehand]

I finally got confirmed filing pro se. $1050 for 5 years. only thing paid is auto loan(full value-i couldnt cram it down because i bought it within 6 months of filing) interest dropped from 7% to 5%, irs 5% interest(not done with them yet-they're the reason i had to file), credit cards 0--0%. Im just paying two things. I did feel bad about the credit cards. I was never late and had great credit.

[gregorino]

Schedule B Questions

I'm doing my Schedule B, following along with the NOLO book, and I have a couple questions...First, we have term life..so do we list that in item 9 - Interest in Insurance Policy? NOLO makes no mention. Also, I have a CD for my 13 year old but it's in my name folowed by CUGMA (ABBREV. for a CA. law which enables adults to hold assets on behalf of minor children). So, since it's technically the kids (purchased by her grandpa), does it need to go on Sched B? Thanks!

[justbroke]

I'm doing my Schedule B, following along with the NOLO book, and I have a couple questions...First, we have term life..so do we list that in item 9 - Interest in Insurance Policy? NOLO makes no mention. Also, I have a CD for my 13 year old but it's in my name folowed by CUGMA (ABBREV. for a CA. law which enables adults to hold assets on behalf of minor children). So, since it's technically the kids (purchased by her grandpa), does it need to go on Sched B? Thanks!

I don't believe you need to list Term Life policies as they have no "investment" benefit. That is, they have no "cash value" or "equivalent cash value" unless you die. Hence, it's not really an asset. A Whole Life policy does have a cash benefit and is an asset.

For the child's CD, you'll have to look to CA Exemptions. Are you System 1 or System 2? Not that it matters, a Child's CD (assets) are not yours. You are only a custodian / executor over the child's assets. In most States, assets of children are protected from a parent's bankruptcy. The law doesn't seek to punish the minor child.

[gregorino]

Thanks again JB....My wife is telling me after this, I should do the online ParaLegal course (24 credit hours) and go into that field! Have you ever thought about that? Makes sense on the term life deal....NOLO just doesn't get specific enough, and the form itself....well, you know! I'm actually a FL resident, but for some reason, the kid's CD is listed in my wife's name, followed by the CUGMA acronym. I'll just leave that be as well, as it does belong to the kid when she's 18 (if she lives that long!!!)