Hello All,
I guess I exceeded the number of posts I was allowed to view without becoming a member so here i am. I want to thank all of you so much for the info you have posted that has helped my family through this difficult time, we have been going crazy trying to figure all this out, and although the attorney has done his Job well, He hasn't provided the information I needed in detail as this forum has done for me. So thank you all. Now a little Background
In June I got a notice from Chase that they were raising my minimum payment to 5%, which would have taken my payment from 300 to 750 a month. We have never been late, always paid 2 weeks early on all bills, so i called chase and they said they could do nothing to help and woulld not be allowed to opt out. So i didn't even think this was legal, and contacted an attorney about this, I was informed there was nothing we could do, but pay or transfer to another credit card. The attorney suggested bankruptcy as an option as we were on a tight rope and stretched pretty thin.
I went home, did a lot of soul searching, thought about a home equity line as my credit was good (mid 700's) then found this forum and started learning... I had already cashed out my 401K a couple years ago to juggle the balances around and get all balances to cards that were less than 5% for life. Ithought I was on the road to recovery.. Boy, was I wrong. I figured if chase could do this, then they probably all can and eventually will so i needed to protect what i could and stop this nightmare.
I started the paperwork in July and didn't finish until late august, the attorney said it was my job to fill it all out, which was hard but probably better in the long run as i learned so much with the help of this forum in having to do so, I haven;t posted before but didn't really need to, as others have already asked the same questions I had.
I stopped paying all cards in August, and filed for a 7 No asset in September. My 341 was held in October and it went pretty smooth as you all have said they usually do, i was declared an Asset Case as my yer warned me about. I have reached a buyback agreement with the Trustee, so as long as nobody objects, thats all good. I do have to submit my Tax Info to him when I do it and am told he will probably keep 3/4 of it as well, which is fine with me as long as this all comes to an end and I can start over.
I am now waiting for Discharge (Less than 2 weeks to go) if they are on schedule, I have read that it sometimes takes longer than 60 Days, I hope mine doesn't.
If I understand correctly, The discharge is what matters most, because my case probably won't close until next year because of the Tax returns, and distribution of the assets by the Trustee. Is this correct, do I get my Fresh Start once discharge happens? Does being an asset Case change any of that?
Ok, this post is probably to long now - so thanks again
I guess I exceeded the number of posts I was allowed to view without becoming a member so here i am. I want to thank all of you so much for the info you have posted that has helped my family through this difficult time, we have been going crazy trying to figure all this out, and although the attorney has done his Job well, He hasn't provided the information I needed in detail as this forum has done for me. So thank you all. Now a little Background
In June I got a notice from Chase that they were raising my minimum payment to 5%, which would have taken my payment from 300 to 750 a month. We have never been late, always paid 2 weeks early on all bills, so i called chase and they said they could do nothing to help and woulld not be allowed to opt out. So i didn't even think this was legal, and contacted an attorney about this, I was informed there was nothing we could do, but pay or transfer to another credit card. The attorney suggested bankruptcy as an option as we were on a tight rope and stretched pretty thin.
I went home, did a lot of soul searching, thought about a home equity line as my credit was good (mid 700's) then found this forum and started learning... I had already cashed out my 401K a couple years ago to juggle the balances around and get all balances to cards that were less than 5% for life. Ithought I was on the road to recovery.. Boy, was I wrong. I figured if chase could do this, then they probably all can and eventually will so i needed to protect what i could and stop this nightmare.
I started the paperwork in July and didn't finish until late august, the attorney said it was my job to fill it all out, which was hard but probably better in the long run as i learned so much with the help of this forum in having to do so, I haven;t posted before but didn't really need to, as others have already asked the same questions I had.
I stopped paying all cards in August, and filed for a 7 No asset in September. My 341 was held in October and it went pretty smooth as you all have said they usually do, i was declared an Asset Case as my yer warned me about. I have reached a buyback agreement with the Trustee, so as long as nobody objects, thats all good. I do have to submit my Tax Info to him when I do it and am told he will probably keep 3/4 of it as well, which is fine with me as long as this all comes to an end and I can start over.
I am now waiting for Discharge (Less than 2 weeks to go) if they are on schedule, I have read that it sometimes takes longer than 60 Days, I hope mine doesn't.
If I understand correctly, The discharge is what matters most, because my case probably won't close until next year because of the Tax returns, and distribution of the assets by the Trustee. Is this correct, do I get my Fresh Start once discharge happens? Does being an asset Case change any of that?
Ok, this post is probably to long now - so thanks again
