Scared

[chad9162]

i would assume that they would try to make me pay those back, right? It wasnt alot, and if i am not making payments on anything else, i could pay the charges back...or can they really try to say i was being fraudulant (sp?)????

Fraudulent and the 90 days thing is sort of the same thing but the creditor has to file the objections. If they did, then yes you might have to pay that back. As for fraudulent and dismissing your case, I think that's harder to prove and more obvious. Like I said before, my attorney had a client do a cash advance for $14K just before Bk. They negotiated a settlement.

[mamaof2]

so if thats my only worry...and my lawyer gives me the "go ahead", i think i will file right away...and if i have to pay a little back, in order to get it over with, then i will do so. Thanks for the info.

[chad9162]

so if thats my only worry...and my lawyer gives me the "go ahead", i think i will file right away...and if i have to pay a little back, in order to get it over with, then i will do so. Thanks for the info.

Yep that's how I felt. My was concern was also charges within 90 days, but my attorney said no big deal. So I'm going to file in May. I've only learned about BK for about a month but thanks to this forum I think I have a strong understanding. Also my Chap 7 is very simple and straight forward.

[mamaof2]

Thanks so much, you are very helpful...if you dont mind, can i ask for any pointers you may have for me...we have our consol on friday, and if this lawyer seems like the right one, then i am going to give him the money to file asap, how long after your last purchase, did you have a consol and then file and how much were your charges ( i hope i am not asking too much)

[mamaof2]

Does anyone have any experience with Nordstom Bank? The visa card that i have from them, is one of the ccs that i have used within the past 90 days (actually this one was within the past 30 days) 300.00 in purchases, and 600.00 in cash advances, i wonder if they are going to try and cause problems for me if i file within the next 2 weeks. Also, i would like to know if anyone else out there has filed within a month of last purchase on a cc, and who was the creditor, how much was it for, and did they object claiming the fraudulent thing.

[chad9162]

Thanks so much, you are very helpful...if you dont mind, can i ask for any pointers you may have for me...we have our consol on friday, and if this lawyer seems like the right one, then i am going to give him the money to file asap, how long after your last purchase, did you have a consol and then file and how much were your charges ( i hope i am not asking too much)

My last transaction was end of March for $223 (non-necessity item). I used the card after making a $500 payment. You know "floating" money. I used two others end of February but those transactions were refunded. The other 7 cards were used in December.

I met with my Attorney about two weeks ago. I PM'd several people on the forum for attorney recommendations. I actually went with the first guy because he was part of a firm and had staff. He was also a member of NACBA so I figured he'd have a good understanding of current case law (I also tested him).

http://www.nacba.com/

The other attorney I was looking at never called me back. I think he was a smaller practice. I called like three times and got an answer machine. Left a message and nothing.

Anyways, sat down with the first attorney. He was totally cool and at first tried to explain BK to me. But thanks to everyone here, I already knew most things. He said it was good I was reading about BK. He allowed me to ask as many questions as I wanted and address any concerns. He didn't rush me and wasn't full of crap! I've been in sales so I know sometimes people tell you what you want to hear. He wasn't like that and was specific on how things worked.

Anyways, my income has fluctuated. I wanted to use my income from November-April, which meant filing in May. I couldn't file in April because I made too much in October, which isn't a true picture of what I make now. My only concern were the recent charges within 90 days. I just did what I always do, pay my CC's and then use them. A week later I realized this was never going to end. My attorney said you could explain that and that the creditor still has to file a claim against you.

He told me the trustee's main concern are your assets and preferential payments since they get a percentage. Questionable charges can be negotiated.

Anyways, before meeting the attorney, I started gathering all my statements, paystuds etc. He gave me a packet and said if I wanted to move forward to return it quickly. I think he wanted at least two weeks before the date of file. I completed the packet in a few days and met with one if his paralegals. He made sure I had everything and told me to get my pre-counseling done (they gave me a list of services). I paid them in full and they started prepping my paperwork.

I go back in a week or so, go over my paperwork and meet with the attorney one more time. Once I sign off everything they file it electronically either the same day or the next day. This is when the money in your bank account comes into to play. When I go back I need to tell them the exact amount in my accounts. Obviously if you have too much then you need to go grocery shopping haha. I won't be over since CA gives you like a $20,000+ exemption.

Like I said before...this site is AWESOME but not always "crystal" clear. Since certain things are specific to districts, asking an attorney in your area how things are treated is huge. They will know what you can and can't do. I know you want to file quickly and I see nothing wrong with that from what I've read about you. BUT don't be in a hurry to pick your attorney!

[mamaof2]

So, $20,000.00 exemption..meaning that you can have that much in your checking acct when you filed? I am in Minnesota, so not sure on what the amt would be, but i just wanted to clarify. Thanks- you are awesome

[chad9162]

Yes the $20,000 exemption would be personal property which includes cash, BUT some states (I believe) may limit cash. I don't think CA is one of them

[chad9162]

Here's a thread on MN exemptions maybe PM Tbornetun with specific questions....

http://www.bkforum.com/showthread.php?t=31286&highlight=minnesota+exemptions

It appears he recommends using the Federal Exemption (which can be double if filing jointly). If you have a lot of equity in the house then he recommends your state exemptions, unfortunately no wild card with state exemptions.

Under the Federal Exemptions... "Unused portion of homestead, up to $10,125, may be used for other property." So this would be a $20,250 wildcard!

http://www.thebankruptcysite.org/exemptions/federal.html

[franken55406]

I to live in MN

I am giving up on my condo. There is no equity since its upside down. I may file after foreclosure and redemption. No rush to file. I am judgement proof even with 70k in cc debt. Would like to get health insurance first, before I consider C7.

If I use the federal exemptions, can I use the unused portions of the $10,125 homestead for cash and my vehicle? My vehicle is worth $7000 and the federal exemption is $3225.00.

[chad9162]

I am giving up on my condo. There is no equity since its upside down. I may file after foreclosure and redemption. No rush to file. I am judgement proof even with 70k in cc debt. Would like to get health insurance first, before I consider C7.

If I use the federal exemptions, can I use the unused portions of the $10,125 homestead for cash and my vehicle? My vehicle is worth $7000 and the federal exemption is $3225.00.

Yes, the unused homestead would become a "wildcard" and could be used for cash and/or other property like your car.

[ease]

the reason i am in a hurry is because we are going to stop paying on the cc's in may, and want to prevent any creditors from calling our jobs, and i think they need to stop once you file...am i correct or no?

we have our consol in 10 days.

When Discover called my husband at his office, we went online and removed work numbers from all our profiles. He hasn't received any more.
We stopped paying about 8 weeks ago. No collection agencies yet. Just dropped all the paperwork w/the lawyer yesterday. We are now answering the phone and giving CC companies the lawyer's name and number. We are keeping a log of who calls, their agent ID number, and the date and time that we inform them we are preparing to file. We file sometime next month. Hopefully by the end of the summer, we will be done.

[mamaof2]

Thanks ease, i did that just the other night (went online to remove some of the work numbers, but some of the ccs wont let you do it online, so i am still worried about those.

[ease]

Yes the $20,000 exemption would be personal property which includes cash, BUT some states (I believe) may limit cash. I don't think CA is one of them

Our lawyer has advised us to pay all our bills before right before we file so we have about $100 in our checking account on the day we file. Won't be hard at all!

[chad9162]

Thanks ease, i did that just the other night (went online to remove some of the work numbers, but some of the ccs wont let you do it online, so i am still worried about those.

Just call them a give them a new number like your c.phone or a false one