getting ready for 13

[dumass]

My ex business partner sued me for unpaid payroll taxes. My attorney suggested to file chapter 13. I have 160k in cc debt. I make 120k a year. I have house worth 240k and mortgage 165k and its 15 yrs @ 2000/month. I have a car with loan for five years @ 550/month. I have retirement account with 20k in it.

Now my question is can I buy new set of tires and new laptop before I file? I have business amex with unlimited. I never missed a payment in last 15 yrs.

What are my chances of successful chapter 13. My ex partner has personal grudge on me, can he stubbornly object?

I typed this message from my nexusone phone so please excuse my grammer and indentation.

[SMinGA]

Should not be a problem if you need new tires. For the laptop, could go either way depending on the cost of the laptop. Do not buy anything more on credit.

You will most likely lose the Amex - even if you have no balance owed to them at time of filing.

[dumass]

Actually I don't want any credit either. We are filing in GA. What are my chances of success? Because my ex partner would do anything to object it. We are planning to file when we get trial date.

Thanks a lot for your reply.

[NoTomatoCan]

There has to be a legitimate reason for your ex partner to object - like fraud, hiding of assets, etc... Just because there is bad blood between you two doesn't mean he can simply object to you filing for chapter 13. It just doesn't work like that. He needs to have a legitimate reason to object.

Is there something in particular you think your ex partner will try to bring up, or is it just speculation at this point?

[dumass]

He thinks I banged his wife. This guy just hates me. I really want to settle but he wants no settlement. All I need is to get rid of this guy off my back.

[NoTomatoCan]

As bad as that may sound, it is not a reason for a creditor (your ex partner) to object to your BK.

What has your attorney told you?

[dumass]

attorney said we should be able discharge.

[NowImDownInIt]

Then just trust your attorney. He can object all he wants and the trustee will ignore him because he has no legitimate legal grounds to do so.

[dumass]

awesome. Thanks for help.

[debtinohio]

He thinks I banged his wife. This guy just hates me. I really want to settle but he wants no settlement. All I need is to get rid of this guy off my back.

hahaha

Sounds like he just needs a divorce attorney.

[LadyInTheRed]

Is your ex-partner suing for payroll tax that he already paid to the IRS or unpaid taxes that the IRS is still pursuing him for? If you were a partner in a business that did not pay tax due while you were still a partner, the IRS may also be your creditor, even if they haven't yet gone after you. The IRS debt may not be dischargable and would be paid in your Chap 13 plan. Hopefully, your attorney has already asked about that, but I just wanted to be sure that detail doesn't get missed.

[dumass]

I was never a partner in his company. Just put money and ran payroll for him just to make some money out of that deal. He still owes that money to IRS.

Thanks for your help.

[boochase]

My attorney recommended that I do what I have to do before the credit score gets slammed (this starts as soon as you default on debt payments). So, I followed the advice: I returned my leased vehicle two months early and leased a new vehicle for 36 months; so, I am guaranteed a car. Second, I got myself an iPhone. Wireless companies now check credit reports before issuing/upgrading accounts to more expensive levels. Only foreseable problem: I am the only one filing. My wife's lease is up in November. I wonder if we/she will be able to lease another car. Her income isn't high enough but her credit score is excellent. She will need my income on the application. My thinking is that a lease is not a loan, so we should have less trouble if Trustee approval is necessary. Any thoughts appreciated.