The 60 Day Club.....

[6ftladycop]

I want you guys to know that I am happy as a bug in a rug to be in the 60 day club, but I wanted to head off any things that could cause a problem with my case getting closed so I am asking all the Pacer users what to look for weekly that might indicate a problem is brewing.

Also, as you guys know from other post of mine, Dell computers were my only assets according to the lawyer at the bankruptcy helpdesk. She said that I could re-affirm, buy at market value or give back. Since I only received one letter asking for re-affirmation for the vehicle, I am still a little confused as to how Dell and I will work out the computer issue. I know they were listed on the bankruptcy, I know they received the letter because they sent me correspondance back, what I don,t know is who will contact whom concerning the 200.00 desktop from 2004 and the 200.00 laptop from 2005. Can you guys shed some light on this?

[Minnymouth]

If Dell wants you to reaffirm they will contact you or make their wishes known...... doubt if they will though...... your computers are old enough to be considered out-dated..... so you probably won't hear anything from them.....

They can file an objection but would cost them more than the computers are worth....

So you probably won't hear anything from them at all......

Welcome to the 60-day club........ won't be long now till your discharge and a "new chapter and a new beginning" for you and yours.....

Be patient...... it will be worth it..............

[6ftladycop]

If Dell wants you to reaffirm they will contact you or make their wishes known...... doubt if they will though...... your computers are old enough to be considered out-dated..... so you probably won't hear anything from them.....

They can file an objection but would cost them more than the computers are worth....

So you probably won't hear anything from them at all......

Welcome to the 60-day club........ won't be long now till your discharge and a "new chapter and a new beginning" for you and yours.....

Be patient...... it will be worth it..............

Thank you so much. I intend to just wait to see if there are objections, proceed with my life and this may or may not be a good thing, but I do not ever intend to have a credit card again. I may have to buy another vehicle on credit one day, but the credit card business ended as far as I am concerned with this BK. I have a Visa check card which I use a lot because I am never charged fees for purchases, but its only good if I have money in my checking account. I keep about 75.00 dollars in it for this or that, but since it has the Visa logo, no more credit cards for me. To be honest except for a vehicle in the next couple of years, I see no reason to have a credit card of any type unless you guys know something I do not.

[6ftladycop]

If Dell wants you to reaffirm they will contact you or make their wishes known...... doubt if they will though...... your computers are old enough to be considered out-dated..... so you probably won't hear anything from them.....

They can file an objection but would cost them more than the computers are worth....

So you probably won't hear anything from them at all......

Welcome to the 60-day club........ won't be long now till your discharge and a "new chapter and a new beginning" for you and yours.....

Be patient...... it will be worth it..............

Do the creditors have to pay the courts to file an objection for a debtor or is it free to them to have the courts persue a debtor?

[Boscoe]

While I understand your reluctance to go down the credit road again, be advised that part of your recovery should include rebuilding your credit. And if you don't ever have credit again (mtg, car loan, credit cards or some combo), that can't happen. That means if you ever change your mind, it will be difficult.

How about a small credit limit, and keep the discipline to never charge more than, say, $100-$200 a month and then be sure to pay it off each month.

That is my recommendation.

[JRScott]

It is unlikely Dell will contact you. The computers are so old that the cost of filing a motion to lift the stay combined with paying someone to pick up the computers it is just not worth Dell's effort. (Most likely also the older one you probably paid as much as the original agreement by this point anyway).

Credit is a dangerous thing. I also plan to go for a while without any sort of credit. I plan to build an emergency fund of cash that I can use for those emergencies so many of us depend on credit for. (I actually have 1 card that is at 0 balance, since it was 0 balance it was not listed in my bk, and thus far has not been canceled.....very low limit...200 I think).

[demismom]

I thought the same thing, about Dell, but our attorney listed it as unsecured and I haven't heard a peep from them.

As for the no credit card thing, we do plan on getting one with a VERY small limit and putting one bill on it, like our gas or something. Something we HAVE to pay for every month anyway. Like was said above, if you ever plan on buying anything significant again, you HAVE to have credit to do it.

[6ftladycop]

It is unlikely Dell will contact you. The computers are so old that the cost of filing a motion to lift the stay combined with paying someone to pick up the computers it is just not worth Dell's effort. (Most likely also the older one you probably paid as much as the original agreement by this point anyway).

Credit is a dangerous thing. I also plan to go for a while without any sort of credit. I plan to build an emergency fund of cash that I can use for those emergencies so many of us depend on credit for. (I actually have 1 card that is at 0 balance, since it was 0 balance it was not listed in my bk, and thus far has not been canceled.....very low limit...200 I think).

You said you retained a credit card that had a zero balance. I too have one of those and its the only one I have. I got it by accident and just never used it. Maybe I will keep that one for emergencies, but I really am reluctant to use it at all. Justs does not seem right.

[Bryan16]

You said you retained a credit card that had a zero balance. I too have one of those and its the only one I have. I got it by accident and just never used it. Maybe I will keep that one for emergencies, but I really am reluctant to use it at all. Justs does not seem right.

Yeah I had three that were not part of my BK: Mervyns, Home Depot, and Express (used to be my Structure clothing card). Mervyns closed the account about 40 days after I filed but the other two are still open. The Express card does me no good since it's all womens' clothing now but the HD card might come in handy.

[Lindsay]

We have one new card that has never been activated when the old card expired. It's still in the envelope on my desk. It has a 0 balance and a $5500 credit limit and we're not including it in bankruptcy. It's with Providian so I imagine they'll cancel the card anyway when we file. If they don't cancel the card, I'll probably just put a small amount of gas on it a month and pay it off right away. I don't intend on applying for any new credit cards. The thought frightens me. We're keeping our house and hopefully the truck so i'm keeping my fingers crossed that the need for credit won't arise. We plan to start an emergency fund with our birthday and Christmas money this year. I'm lucky enough to have parents who have been very generous with us. Last year, we got $500 each for our birthdays and $1500 for Christmas. I'm thinking of just putting that money aside to start an emergency fund.

I don't think that Dell will do anything about those computers. I bought our two Dells (low end desktops) with a regular mastercard so I don't think they have a security interest in them, but if they do want them, they can take them. My computer is about 6 years old and the other one is 3 years old. The 6 year old one is barely functional!

I'm curious too about whether creditors have to file a fee to object to a bankruptcy. If there was no fee, why don't all creditors just object as they have nothing to lose?

[lrprn]

I'm curious too about whether creditors have to file a fee to object to a bankruptcy. If there was no fee, why don't all creditors just object as they have nothing to lose?

Creditors do have to pay their locally retained lawyers for their time to file the case in your local bankruptcy court and the local lawyer has to pay a small filing fee to the court as well.

Your creditors can't object to your debt being included in your bankruptcy just because they want to. Each objection to a debt has to have proof to show to the bankruptcy court that the debt is fradulent, illegal, etc. Since 99.9% of debts aren't fradulent, illegal, etc, therefore the creditors have nothing to base an objection on and can't object to including the debt in your bankruptcy.

HTH explain things more clearly!

[RickInMich]

While I understand your reluctance to go down the credit road again, be advised that part of your recovery should include rebuilding your credit. And if you don't ever have credit again (mtg, car loan, credit cards or some combo), that can't happen. That means if you ever change your mind, it will be difficult.

How about a small credit limit, and keep the discipline to never charge more than, say, $100-$200 a month and then be sure to pay it off each month.

That is my recommendation.

Boscoe,

If we were to retain/reaffirm our 1st and 2nd mortgage and kept current on those payments, will that rebuild our credit, too? I really don't want to use credit cards again, but I see your point about rebuilding credit.

Rick

[CindyLou]

I am going to repeat my same speech here again, "The Dell repo man is not going to come in dark of the night and take your 3 year old computer, trust me." If Dell contacts you tell Dell that the computer is barely limping along with worm viruses, etc but ask Dell to please ship you packing materials so that you can pack up the computer to return it to them. That will be the LAST you hear from them. END OF STORY. They do not want your computer. They are using scare tactics to try and scare you into reaffirming.

[lrprn]

If we were to retain/reaffirm our 1st and 2nd mortgage and kept current on those payments, will that rebuild our credit, too?

Filers are finding that just doing reaffirmation is no guarantee that the lenders on mortgages, cars, and other assets will report payments to the credit agencies after filing. Some do, some don't. If your lender is one that doesn't report, you can send letters requesting they report, but they can refuse.

If this is very important to you, then the only way to ensure reporting to the credit agencies after reaffirmation is is for you to get a guarantee in your reaffirmation agreement that on-time payments will be reported after your case is discharged and closed.

[6ftladycop]

Filers are finding that just doing reaffirmation is no guarantee that the lenders on mortgages, cars, and other assets will report payments to the credit agencies after filing. Some do, some don't. If your lender is one that doesn't report, you can send letters requesting they report, but they can refuse.

If this is very important to you, then the only way to ensure reporting to the credit agencies after reaffirmation is is for you to get a guarantee in your reaffirmation agreement that on-time payments will be reported after your case is discharged and closed.

Speaking of re-affirmation, on my original petition, I was told by bankruptcy court that I had to include loans and credit cards from my credit union and it did not make any difference if I still worked there or not. So of course I included them in the bankruptcy. We have direct deposit of our payroll here at my job and receive no paper checks so the payments for the last 5 years for the loan and credit card from credit union have come directly out of my paycheck on payday. I also have a savings account with them as well as a Visa debit card which I use to pay everything from light bill, phone bill, car note, cable and anything else online. Recently I received a re-affirmation agreement from the credit union with an attached note indicating even though all of this was strictly my decision, please be advised that all acounts and privileges will be immediately cancelled if I decide not to sign the re-affirmation agreement. Since I filed pro se, there is no lawyer to consult and now I realize what some folks mean when something goes wrong and pro se filers have to search for the answer to their issues when everybody else can consult lawyers.

I am upset, but I pretty much have no other recourse due to the fact that cancelling my accounts will cause me more harm than good. They even through in the fact that now that I have filed bankruptcy, its going to be necessary to have some place where you can get another credit card as well as another car loan in the future and they are willing to help, but not if I am unwilling to sign the re-affirmation agreement. Of course I will need another car and probably a loan or credit car in the next two years. So now what?


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