New FAQ on Creditor Objections!

[HHM]

I finally got around to writing some FAQ's on Creditor Objections. I know its been a long time coming

Creditor Objections to Discharge, Part I (how likely are they to object?)

Creditor Objections to Discharge, Part II (What happens if they object?)

[DontBother]

Neither of the links work for me...

[HHM]

Opps, fixed.

[deadbrokeinnc]

Thinking of filing Chapter 7 if I qualify

I am new to the forum and have a questions about credit card companies fighting the bankruptcy.
I have an Amex card with a balance of $27,000 and a BOA with a balance of $24,000. I can no longer afford the minimum pymts and they are both 90 days past due. I have been receiving collections calls and even a call from an attorney about the Amex.
All my other credit cards are in great shape since the balances are very low.
My question is this...back in November and December I did quite a bit of balance transfers to these cards ( reason for the high balances), then my interest rate went sky high due to late payments. I originally budgeted on the 0% then it went to 24% which was WAY out of my budget.

Will they fight my bankruptcy if I file in May???? I am very new to the entire BK procedure. Just started considering it last week. It looks like my only option.

[tanyusik]

minimum paymens on credit card

I saw a comment in this thread that one should try to make minimum payments on credit card if it was charged recently. However I saw some posts before about preferential payments. Wouldn't it be a problem if I keep paying one credit card, while I stopped paying my mortgage and other credit cards?
By the way, does a trustee obtain a copy of my credit report? How will they even know if I paid one card and didn't pay another?

[deepin]

So if the creditor successfully gets a judgement of non-discharge based on:

"made the charges/cash advances while insolvent and/or could not have had a reasonable expectation that you could pay back the debt"

... is the debtor also at risk of facing criminal charges?

[HHM]

So if the creditor successfully gets a judgement of non-discharge based on:

"made the charges/cash advances while insolvent and/or could not have had a reasonable expectation that you could pay back the debt"

... is the debtor also at risk of facing criminal charges?

Generally, no.

[mamaof2]

Question....what are considered to be "luxury items"?

And if a creditor objects...are they objecting to the purchases/cash advances within the last 90 days, or all charges within the past 5 years that we had the cc?

[TEW]

JMHO something you want but don't need. BIG TV, boat

[mamaof2]

Just wondering...Is going to Mc Donalds a luxury item, since you dont REALLY need it, but than again, it is considered food...someone please help, we have alot of eating out on one of our cards in the past 90 days (because we always stop somewhere, when we dont have time to go home and cook dinner)

[TEW]

I don't think they would object if they see McDonald's on the charges. But If you know you are going to file and you are using the card with no intention to repay. that is where the problem comes in.
That is fraud you are doing it on a regular bases

[HHM]

when we dont have time to go home and cook dinner

To answer your question, no, eating out is not going to raise objections. (unless you are spending $150 per night)

However, to the quoted statement, that is NOT A FACT, it is a habit and if you are going to acheive your financial goals, it is habit you must break. There is always time, you are just not willing invest in the time.

Try this
CHICKEN AND BROCCOLI CASSEROLE

5 to 6 chicken breasts
1 to 2 pkgs. frozen broccoli
1 can cream of chicken soup
1 tbsp. lemon juice
1 can cream of mushroom soup
1/4 c. mayonnaise
1/3 c. butter
6 oz. grated cheese (any type)
Bread crumbs to cover top of casserole

Cook chicken until tender. Cool - take meat from bone and cube. Cook broccoli until done - heat together soups - lemon juice, mayonnaise and butter. Layer the chicken, broccoli and soup mixture in buttered casserole dish. Top with grated cheese and bread crumbs. Bake at 350 degrees for 30 minutes.

You will get 2 dinners for a family of 4 out of that for much less than one trip to McDonalds. And guess what, you can make it ahead of time.

[deepin]

And if a creditor objects...are they objecting to the purchases/cash advances within the last 90 days, or all charges within the past 5 years that we had the cc?

good question ... if charges inside 90 days are not at issue -- just how far back will a creditor go

[HHM]

good question ... if charges inside 90 days are not at issue -- just how far back will a creditor go

Go back and read the FAQ link.

They can go back as far as they want if they think they can prove you intentionally borrowed money with no intent to pay it back.

But practically speaking, 6 months is the cut off.

[mamaof2]

Thank you all for the advice, budgeting is not something i need to get used too, i have been doing it for years, but before my husband and i got married, we both had alot of debt, and then bought a house and fixed it up (more debt), i look forward to no ccs, and cannot wait to pay for everything in cash, and actually start a savings acct for retirement one day.

You all on this site, help me so much. Coming here, i dont feel like we are the only ones in the world who have tried everything to pay this stuff off.

I have tried calling creditors, explaining the situation, and they wont help at all, we work opposite fulltime shifts with no child care, so that we save money there, but we are just overwhelmed and i cannot see continuing on this stress level for the next however many years.

Also, i ran some numbers last night and it looks like we are over the median income by about 700.00 or so (for the year), and according to the online means test, we are -1000.00 a month for bills, do you guys think this will cause problems for us, i really dont want to do a 13, would rather do a c7.