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    #1

    question about totality of circumstance and home surrender

    I am wondering how to time the surrendering of my home without triggering the totality of circumstance. This is all confusing. Out of the lawyers that I visited only one told me that he could get me into a 7 (income 95k). He said that we could use the mortgage which is 2504/month. However I want to surrender the home but I read on the threads here that they may trigger the toc issue. I barely can pass the means test without the mortgage. Although we will have to put my daughter in daycare starting next week (900/month) also we would like to contribute to our Church in the future and have in the past. If we can use this, we would be ok.....As far as providing documentation with the church contributions...that would be hard bc we usually just put gave cash....stupid i know....we have two cars that I don't want to include bc my husband is on them and I am filing alone....

    PLEASE HELP ME !!!
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    #2
    File your case and do a ride through on the mortgage. make sure you keep current on your payments until your discharged. If asked, Tell the trustee you intend to keep the house. Once your discharged, the loan(s) are discharged, and you can decide what to do then, since you are no longer obligated to pay.
    Stopped Paying CC's 2/2009. Retained Attorney 1/10/2010 Filed 1/23/2010. Discharged 5/19/10 $187K CC, $240K 2nd,$417K 1st, No asset Ch-7

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      #3
      I am guessing you are Florida Middle district?

      Your situation is a mirror of mine. We had a 4k per month mortgage and a 3k per month expense for utilities, maintenance and insurance.

      I our case, our attorney instructed us to wait until after the 341 to move. We indicated that we were surrendering the home on our petition. We did so to make sure we could use the new Florida wildcard exemption, which allowed us to fully exempt one vehicle that didn't have a loan and all of our personal belongings and business assets.

      The reason we didn't move until after the 341 was that, if we had moved, the trustee could then have lodged a totality complaint based on changing circumstances. It all sounds backward but has a strange logic to it. We moved 3 days after the 341 into a home we had paid cash for, which is a long story you can search the forum for if you want. End result was that we had 7k in "free" income that wasn't considered for a totality argument-all because we waited until AFTER the 341 to move. Utterly ridiculous, but that is the law here.

      Good luck to you, I hope it works out exactly like you want.
      11-20-09-- Filed Chapter 7
      12-23-09-- 341 Meeting-Early Christmas Gift?
      3-9-10--Discharged

      Comment

        #4
        Originally posted by maiabon View Post
        I am wondering how to time the surrendering of my home without triggering the totality of circumstance. This is all confusing. Out of the lawyers that I visited only one told me that he could get me into a 7 (income 95k). He said that we could use the mortgage which is 2504/month. However I want to surrender the home but I read on the threads here that they may trigger the toc issue. I barely can pass the means test without the mortgage. Although we will have to put my daughter in daycare starting next week (900/month) also we would like to contribute to our Church in the future and have in the past. If we can use this, we would be ok.....As far as providing documentation with the church contributions...that would be hard bc we usually just put gave cash....stupid i know....we have two cars that I don't want to include bc my husband is on them and I am filing alone....

        PLEASE HELP ME !!!
        I'd be careful about pretending to give to a church.

        I'm not sure what you mean by 2 cars you don't want to include. Can you elaborate?
        Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick

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          #5
          I didn't mean to give the impression that we will pretend to give to the church....that is unthinkable, all I am saying is that our statements are not an accurate picture of what we have actually given in the past for several reasons including we have switched churches bw virginia and Florida over the past couple of years and we usually put cash in. Also, we havne't been able to tithe recently due to the fact that we CAN't afford it. I am mainly doing the chapter 7 as a strategic default. I don't want my cars included bc my husband is a co-signer..Other than the house and the cars we don't have any other debt. So are you guys saying that I should stay current on my mortgage until after the discharge or after the 341 meeting. I am so new to this I don't even know what takes place at the 341 meeting

          I am in the florida middle district btw...

          Comment

            #6
            Oh..What is a ride through on the mortgage?

            Comment

              #7
              Yours cars must be included in your bankruptcy if you are on the loan.

              You really should use a better accounting system for your charitable donations as claiming large cash donations is often scrutinized.

              A ride through is the name given to describe the process of keeping a secured asset post-bankruptcy but having the debt discharged. You continue to make the payments and the lender lets you keep the asset.
              Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick

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                #8
                oh ok thats interesting...I just read that they just passed something here stating that you can only surrender or reaffirm your mortgage here.....as of 11/2009 GRRRRRRRRRRRR

                NOW WHAT?!?!?!?!

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