Pre discharge/ post discharge?

[telco95]

I just received my login information for pacer, I need to figure out how to look up my case. My question is, while in bk, what can you do and not due pre and post discharge? I have been getting credit card offers in the mail and would like to start establishing credit again.
Also, can I sell stock that I received after we filed through an Employee Stock Purchase Plan? I've asked about this on this forum and was told I should hold on to it, but if I need the money, can I cash in? We are and asset case, trustee wanted wife's 2nd house (worth $8k-15k).

Thank you

[telco95]

Is pacer easy to manuver through? Should I just look in the pacer manual?

Thanks

[AngelinaCat]

There are many 'stickies' here and there in the forums regarding PACER, including several that tell you how to sign up.

PACER can be very addictive. While it costs $0.08 to view each page, and does not seem like much, whenever you call up a 16 page document or so, to read, those eidght cents add up.

As far as the 'credit card offers' coming in the mail: those are no better than scams. Shred them and get them out of your life. Now is the time to learn to live 'cash only'.

As for the stocks: you have not said whether you have already filed or not, but we were asked at our 341 if we owned any stocks or bonds? We didn't, but if we did, I think we would have had to turn that info over to the trustee.

If you have an attorney, it would be best to run these questions before him/her.

[telco95]

Thanks for your reply Angelinacat. We filed in July, had our 341 in Aug. I looked up our case on Pacer, only had 1 page, downloaded it in xml and text, didn't really have much there. Am I in the right place, or is there more?

The credit cards are through capital one and orchard. I don't want to charge, I just want to get my credit back on track. I never want to go through this again, it's a stressful time in your life filing for bk.

Thanks

[telco95]

Ok, I found the sticky in another forum. I gives you step by step instructions. Thanks!

[tcreegan]

Hi telco,
11 § 549 of the BK code is titled "postpetition transactions" I am no lawyer, but to me it only refers to transfers of property of the BK estate and not to aquistions of property. In 11 § 541 Property of the Estate, the BK estate includes certain things that are acquired within 180 days of filing; inheritance, divorce proceeds, and life insurance payout. Nothing about stock. But again...I am no lawyer!!

I use the "docket report" then "run report" on PACER, haven't been charged for anything (but I also don't download anything either, not sure if this makes a difference.)

capital one and orchard run away, fast as you can...


Tom in Colo

[backtoschool]

Your stocks have to be exempted as an asset. If you sell them pre discharge, then they become a cash asset which also has to be exempted. If you have stock options and you cash them in, that is even worse, because you are turning something that is not an asset (the option to buy stock at a certain price) into a cash asset.

[telco95]

Can I sell the stock post discharge, but case not closed because of an asset?

What is the deal with Capital One and Orchard cards? I know they carry a high intrest rate and annual fee, but I thought if you wanted to re-establish credit, these were good cards.

Thanks

[IBroke]

There are many 'stickies' here and there in the forums regarding PACER, including several that tell you how to sign up.

PACER can be very addictive. While it costs $0.08 to view each page, and does not seem like much, whenever you call up a 16 page document or so, to read, those eidght cents add up.

However, if you stay below $10 (or in other words, a total of 125 pages), you won't be charged at all..

[tcreegan]

Hi again telco,

Orchard is owned by HSBC, a hard-core, collect on everything, fairly predatory lender.

With Captial One the case is more incompetence than anything else.

Do a search on the forum, find out what folks are saying about these and if any others get high marks...

Tom in Colo

[backtoschool]

Capital One is a good rebuilder card. With Orchard ymmv, but they tend to approve most people post discharge. Orchard has a high yearly fee, but is not as bad as some of the other subprime lenders. There are a whole bunch of threads on this in the rebuilding credit thread in the after discharge section.

[telco95]

Thanks!