New user - Mississippi ( Jackson Area )

[cthornton]

I filed last Thursday and while I was price shopping attorneys i am now second guessing myself. I found an attorney about 25 minutes from my residence who charged less than a grand, however I now cannot for the life of me get him to answer the phone or an email, I wish I'd looked here before I filed because now I am confused and have many questions and they all come out jumbled and twisted and make no sense, much like this post probably.

( side not i quit smoking 8 weeks ago and am on the verge of starting back right now )

Long story short:
I don't have any rent to speak of, I live with a female friend. I give her $525 a month to cover whatever she needs to cover. I moved out of a mobile home that was costing me $515 a month on land I'd never own. I rented the home. Well the rental fell through she quit paying the Lot rent and Mortgage notes, I evicted her. Green-tree harassing me for there money $1000 back rent, lot fee sitting at $600. I said I was fed up and found me a cheap attorney and talked to him on phone 3 times before filing.....I have been "unemployed" since Circuit City closed and female friend told me she'd take care of most everything as long as I'd keep up with my car note and hobby things ( computers, web design, web hosting ). Which I do ok at with the unemployment that is. The hobby money is cash or paypal only. I average $1500 a month doing so
My expenses are a 2010 Nissan Frontier $430 a month
Insurance $80 a month
Money to her $525 a month

Cash on hand over $2k
Bank account $1200 Before notes above.

I am reaffirming my truck or doing a ride-through.

So see I'd been ok if the mobile home hadn't bit me, right? But I am reading all this stuff that NMAC may not reaffirm my truck which keeps me from sleeping at night badly. Lawyer will not answer me......................Got what I paid for huh?

Also the $1500 a month is an average over the last 18 months, the past 4 months have only been unemployment.
I was 100% honest with my lawyer even about PayPal and am now using PayPal only for Ebay transactions and spending the money on groceries and fuel.

Could someone here settle me down and reassure me from your experiences I did the right thing, i am now wondering if I should had filed!

Thanks
Sorry so long winded!

PS All credit cards are now reflecting they have received the Bankruptcy or whatever the Lawyer/Trustee or whomever sends out. except my Best Buy Retail Card!
PSS Means Test Application of Section 707(b)(7) "Median Income Test"
Because your household income does not exceed the median income for a household of similar size for your state, the presumption of abuse in your case does not arise; do not complete parts 4, 5, 6 or 7 of this form.
(Editor's note: Although the official form says "do not complete [the rest of the form]," you can go ahead and do so if you want to get a sense of how the means test formula computes your monthly "disposable" income. Even if you pass the median income test, some judges may deny you the right to file for Chapter 7 bankruptcy if it looks like you can afford to make significant monthly payments into a three-year Chapter 13 plan.)

Please explain in laymans terms!

[cthornton]

Is this too much to ask in my first post? I see other posts updating quickly but not on mine, guess I am screwed!

[newbie2]

It is a bit lengthy, but I tried my best to digest it :-) Also, please don't be offended when your question/post hasn't been answered in a matter of a few hours. All of us here are volunteers so to speak. We pop in and out according to our own personal schedules and free time.

From what you've written it appears that you are a pretty straight forward Chapter 7 case. Your income is low, you do have expenses that are legitimate (your vehicle payment, rent, etc.) so you shouldn't have any disposable monthly income that the could fund a Chapter 13 case. You passed the "means test" (your final PS explained that) and that's a good thing.

I suggest this: Take a deep breath, take several, and try to sleep tonight. None of us can say whether you did the right thing for you by filing, however from what you've stated you should get through this whole process pretty darned smoothly.

[tcreegan]

Hi cthorton,

except my Best Buy Retail Card ....just a heads up; BB is notorious for trying to put the squeeze on people, they send legalese, threatening letter, but don't fall for it. Make sure they are on your creditor list and don't let them shake you down for some cash.

PSS Means Test Application of Section 707(b)(7)
This means you are poor enough for a Ch 7 and you won't have to do a Ch 13. It is good news.

I live with a female friend I evicted her. ????

Green-tree harassing me for there money $1000 back rent mortgage payment right? Green-tree gets listed as a secured creditor, they cannot hassle you anymore for $$, they take the trailer back. The lot rent will also get discharged in the BK

In Miss. you get to exempt 10K of personal property, that includes your vehicle and stuff...but only the equity you have in the vehicle and garage-sale prices for your stuff.

the last 18 months, the past 4 months the last 6 months is what counts

someone here settle me down and reassure me I was 100% honest with my lawyer ....this is the best of all..your reassurance is right here, you will be OK,

Tom in Colo

[debee]

I'm not sure why you're worried about Nmac. Everything I've read so far indicates that they will let you do a ride-through.

They don't affirm for pro se filers (people who file without a lawyer), but you have an attorney so that doesn't apply to you.

And even if you don't affirm/reaffirm, as long as you keep making your payments, they will not repo the truck.

[cthornton]

Hi cthorton,

except my Best Buy Retail Card ....just a heads up; BB is notorious for trying to put the squeeze on people, they send legalese, threatening letter, but don't fall for it. Make sure they are on your creditor list and don't let them shake you down for some cash.

PSS Means Test Application of Section 707(b)(7)
This means you are poor enough for a Ch 7 and you won't have to do a Ch 13. It is good news.

I live with a female friend I evicted her. ????

Green-tree harassing me for there money $1000 back rent mortgage payment right? Green-tree gets listed as a secured creditor, they cannot hassle you anymore for $$, they take the trailer back. The lot rent will also get discharged in the BK

In Miss. you get to exempt 10K of personal property, that includes your vehicle and stuff...but only the equity you have in the vehicle and garage-sale prices for your stuff.

the last 18 months, the past 4 months the last 6 months is what counts

someone here settle me down and reassure me I was 100% honest with my lawyer ....this is the best of all..your reassurance is right here, you will be OK,

Tom in Colo

Tom,
Thanks for your reply.
My typing ran though above, I didn't evict my live in friend at the trailblazer, someone else who was female moved in and missed payments and I evicted her. Sorry i didn't proofread before I posted.

In Miss. you get to exempt 10K of personal property, that includes your vehicle and stuff...but only the equity you have in the vehicle and garage-sale prices for your stuff.
What if this is all from the BB card? and some has been paid for but other stuff was bought in the last 6 months?

[cthornton]

Also what about "hobby" income? Should I transfer it to cash?

[tcreegan]

What if this is all from the BB card? and some has been paid for but other stuff was bought in the last 6 months? Where it came from is not an issue unless it involved a ski mask, pistol, and a getaway car..

You value all the stuff in your house, then you list it on Schd B, mark it joint, only putting 1/2 the value in the last column

Also what about "hobby" income? Should I transfer it to cash? not cash, spend it on legit expenses, more hobby stuff, car repairs, dental work you have been putting off, etc. Leaving it around as cash gives the trustee a chance to grab it.

Keep plugging away at it,

Tom in Colo

[cthornton]

Update:
Received a letter today on behalf of Green tree on the subject of "Motion for Abandonment & Relief from Stay " Can someone explain this to me in layman's terms please? Will not be able to speak to lawyer for 2 days as he is in court all day the next 2 days!

[free2breathe]

"Motion for Relief from Stay and Abandonment is one filed under the Bankruptcy code for conditioning, modifying or dissolving the automatic stay imposed by § 362 of the Bankruptcy Code and for abandonment of property under § 554 of the Bankruptcy Code. The automatic stay prevents secured creditors from enforcing their lien rights. The stay on abandoned property usually ends on the date of discharge. The secured creditors can ask a Chapter 7 trustee to abandon his or her interest in their collateral. After notice and a hearing, the trustee may abandon any property of the estate that is burdensome to the estate or that is of inconsequential value and benefit to the estate. Secured creditors who are not content to wait for the discharge can request the Bankruptcy Court to lift the automatic stay on their collateral by having their attorney file a written motion." (http://definitions.uslegal.com/m/mot...nt-bankruptcy/)

So, the request to lift the automatic stay gives Greentree the ability to move forward in reclaiming your trailer. The Motion to Abandon asks that the trustee abandon any interest in the trailer, so that, again, Greentree can move forward and reclaim that secured property. This is my understanding of what I've read. Someone please step in if I've got it wrong

[tcreegan]

f2b has it right on the money....or in this case trailer...

The trustee has hold of the trailer right now, they will let it go unless they can make some $$ selling it.

Greentree is asking them to let go of it (abandonment), and they want to take it before your BK case is over (relief from stay).

Either way, it makes no difference to you...unless you want to wave goodby or something

[cthornton]

Thanks! And I got my reaffirmation yesterday from NMAC and its signed and mailed back today

[cthornton]

Trying not to start a new thread. 341 meeting in 1 week from tomorrow, should I empty my bank accounts before I attend?

[oregonpilot]

ct...good luck to you next week at the 341.
I don't think that you need to empty acct. What was in there on filing date was the important thing.
Notice i said THINK. didly squat is what i know. So someone who actually knows will probably say.

[free2breathe]

Trying not to start a new thread. 341 meeting in 1 week from tomorrow, should I empty my bank accounts before I attend?

Nah, no need. The balance on the date you filed the petition is the important piece. The trustee may ask you for a copy of your bank statement that includes the date of filing, and perhaps one between filing and the 341 (like ours did), but you should know what he wants already this close to the 341. The bankruptcy estate only includes those assets that you were in possession of or had earned (earned wages that had not yet been paid at the time of filing), so unless you've gotten a large inheritance in the mean time, you should be fine.