Got some of my money back from previous BK attorney

[debtmonster]

I got a partial refund check today from my old attorney up north. They took out over $900 for their time invested in the past 6 months dealing with all of the collection calls. I deposited their check today.

So tomorrow morning or afternoon, the plan is to go to the new attorney and cut him a check paying him in full. This guy has been doing bankruptcies for over 20 years. He has a full staff of people helping him out and his rates were nearly 1/2 of the old attorney. Plus he's local in the county I am living in.

I told him the situation. We've been living down here but all of the creditors and repo people think we live up north. He told me, "Good." He said not to give any of the cars back and keep driving them. I told him, "what happens if I stop paying the one car and they go to get a lift on the automatic stay?" He told me that he fights for me to keep the car!! He told me that he had one client that kept his car for 3 entire years without making a single payment. WOW!!!!! If I could do that, I could bankroll a TON of cash for a cool car. The car dealers typically won't let you finance less than $7500. So I can pick any car I want. All I have to do is put $5,000 to $20,000 down and finance $7500. Every month that I am not making a car payment is another month that I am putting money towards the brand new car. He told me to stop paying on it and not to worry about it. He said after I get done, I will be able to buy a brand new car. He was very confident about the whole thing. And living in Miami, ANYTHING is possible.

So now we still have the BMW SUV and we use it only to pick up large items since it eats too much gas and takes premium fuel. But the nice thing is that we will have 2 cars with no payments. So we can think of it as having two free rental cars since we won't be having these cars for an extended period of time.

My Saturn has 75,000 miles on it. The attorney said to give it back and that it wasn't worth keeping. Plus I owe 3x what it's worth. Carmax quoted me $4500 for it and I owe $11,000 and change.

I am just wondering how long it will take the attorney to file after I give him the payment tomorrow.

When you guys used attorneys, how long was it before you saw any action?

A friend of mine recommended this attorney and was thrilled to use him.

[OhioFiler]

I'd be willing to bet this particular attorney could file your petition by 8 a.m. today.

P.S. You are writing a check? I thought you were only using money orders.

[music12]

are you really sure you want to buy a brand new car after discharge?? i am worried you might get yourself into unnecessary debt. why not buy a used car? at least a used car doesn't lose 20% of its value the minute you drive it off the lot.

[debtmonster]

are you really sure you want to buy a brand new car after discharge?? i am worried you might get yourself into unnecessary debt. why not buy a used car? at least a used car doesn't lose 20% of its value the minute you drive it off the lot.

I've been looking at used cars and I am finding problems. The first car I looked at had 1,500 miles and looked like a cream puff. Then I checked and the hood came right up. There was no latch locking down the hood at all. I told this to the dealer and they didn't even care. I told them that they could not sell this car and that it was a major safety issue.

I don't need this hassle. I'd rather have a brand spanking new car knowing I was the only one who drove it from day 1 and did all of the proper maintenance on it.

I don't care about the price as long as I am putting a H-U-G-E down payment. It only matters when I do a $0 or $500 down deal. The difference in price is only a few month's savings for me. I can save $1000 to $2000 per month to put towards a new car.

The cars I am looking at are only about $14-15k anyway. If I put $10k down, I am only financing $7,500, which is the minimum allowed to finance on a car anyway. If I financed a $25,000 car and wanted to put $20,000 down, a Honda, Ford, smart or Chevy dealer would not permit me to put $23,000 down. $17,500 would be my max allowed down payment.

[music12]

if you can save $1000-$2000, shouldn't you be in a chapter 13??

i think with some research you can find perfectly fine used cars. it's a bit of time and effort, but i think worth it. you could also end up with a new car that's a lemon. nothing is fool-proof.

[bkmaggster]

I don't need this hassle. I'd rather have a brand spanking new car knowing I was the only one who drove it from day 1 and did all of the proper maintenance on it.

Haven't you had 4 or 5 repos already? Do you really need the "hassle" of another one?

Also, that is not true about dealers only financing >7500. I bought a used car a few years ago for $6000 at 6.5% through a major finance company.

Then I got that entitled feeling and thought I deserved a brand new car. Well, we all know how that story ends.

[OhioFiler]

Haven't you had 4 or 5 repos already? Do you really need the "hassle" of another one?

Also, that is not true about dealers only financing >7500. I bought a used car a few years ago for $6000 at 6.5% through a major finance company.

Then I got that entitled feeling and thought I deserved a brand new car. Well, we all know how that story ends.

DM has it all figured out this time. It'll be different you see.

[hereforinfo]

DM, you claim that your income is $3000/month. I think you need to be realistic, that you will not be able to save anywhere near $1-2k per month. You can't even save anything now when you don't even have to pay rent, mortgage, or car payments. And I think you are dreaming if you really think you can drive your cars for 3 years with no payments. You attorney sounds like he's blowing smoke. I predict in 2 weeks you'll be complaining that he won't return your calls after you've paid him.

[debtmonster]

Haven't you had 4 or 5 repos already? Do you really need the "hassle" of another one?

Also, that is not true about dealers only financing >7500. I bought a used car a few years ago for $6000 at 6.5% through a major finance company.

Then I got that entitled feeling and thought I deserved a brand new car. Well, we all know how that story ends.

If I put $10k-15k down on a new car, there is no way in hell I am going to let that thing go back as a repo.

I have been socking away $1000/mo. away for 4 months now. By the end of the year, I am expecting to be able to put down $10,000 to $12,000 on a new car.

I have been to 3 dealers and all of them have told me that I was not able to finance less than $7,500.

I will have to wait and see what happens. I should be filed in the first half of August! WOO HOOO!!!

[debtmonster]

DM, you claim that your income is $3000/month. I think you need to be realistic, that you will not be able to save anywhere near $1-2k per month. You can't even save anything now when you don't even have to pay rent, mortgage, or car payments. And I think you are dreaming if you really think you can drive your cars for 3 years with no payments. You attorney sounds like he's blowing smoke. I predict in 2 weeks you'll be complaining that he won't return your calls after you've paid him.

I actually gross more than that, but on paper, all you see is just a hair over $3,000. Shhhhh!!

[OhioFiler]

I actually gross more than that, but on paper, all you see is just a hair over $3,000. Shhhhh!!

I trust you are not suggesting fraud is an appropriate course of action in BK planning.

[debtmonster]

I trust you are not suggesting fraud is an appropriate course of action in BK planning.

No fraud at all. Just different ways of spending my money. That's what independent business owner can do.

That's why you need to be self-employed. Read through all of your junk emails in the spam folder and do one of those get-rich-quick things. You get lots of tax benefits when you do that. You can file a Schedule C and write off tons of stuff. You throttle your income down by spending more on business expenses. And the more you spend on business expenses, the more money you make in the future. So right before you file, spend like $10,000 on advertising and what not and then after the dust settles, you should be able to double your money or more.

[landofpoor]

If I put $10k-15k down on a new car, there is no way in hell I am going to let that thing go back as a repo.

I have been socking away $1000/mo. away for 4 months now. By the end of the year, I am expecting to be able to put down $10,000 to $12,000 on a new car.

I have been to 3 dealers and all of them have told me that I was not able to finance less than $7,500.

I will have to wait and see what happens. I should be filed in the first half of August! WOO HOOO!!!

what a tool! As the other guy posted dm got it figured out this time lol.See you in 3 weeks when your crying again how you dont have money for a loaf of bread

[debtmonster]

what a tool! As the other guy posted dm got it figured out this time lol.See you in 3 weeks when your crying again how you dont have money for a loaf of bread

The loaf of bread was only $1.29 plus the butter was only a couple bucks. That, plus Raimen noodles works out wonders.

[music12]

DM, something about your posts sounds very very fishy. sounds like you are up to something, filing bk and talking so confidently about a new car and spending $10,000 right before filing. if we are getting suspicious, i would be very surprised if your trustee won't feel the same way. maybe you should rethink this bk filing.