A couple of questions please...

[ready2puke]

1: Is it better for the debtor to have the cc balances go to a CA when it comes to possible objections when filing?

2: Will the OC object more than a CA?

Also I find this strange..I've been getting tons of calls lately, since I'm 6 months out now and they are being charged off or close to. B of A over voicemail offered me 30%.
What I'm find odd is the messages some of these guys are leaving. They say..
This is so and so from soso co..and if this is not 'my name' please hang up. I'll wait 3 seconds and if your "my name" is still online I will assume blbabla something like that..
They are talking to a freakin' answering machine...
Any of you all gettting this weird message? Like I'm really on the phone faking an answering machine
Thanks friends
BTW my attorney wants me to wait as long as I can..due to B.T's made last June.. Last payments to cc's were Aug 08

[BigJohn]

Having a good lawyer should reduce a lot of the hazzles regarding objections.

As for question 1 and 2, I would say there are so many factors involved that I don't think one way is better then another.

[albacore44]

1: Is it better for the debtor to have the cc balances go to a CA when it comes to possible objections when filing?

2: Will the OC object more than a CA?

Also I find this strange..I've been getting tons of calls lately, since I'm 6 months out now and they are being charged off or close to. B of A over voicemail offered me 30%.
What I'm find odd is the messages some of these guys are leaving. They say..
This is so and so from soso co..and if this is not 'my name' please hang up. I'll wait 3 seconds and if your "my name" is still online I will assume blbabla something like that..
They are talking to a freakin' answering machine...
Any of you all gettting this weird message? Like I'm really on the phone faking an answering machine
Thanks friends
BTW my attorney wants me to wait as long as I can..due to B.T's made last June.. Last payments to cc's were Aug 08

I know why your asking that . have been thinking those same things. I'm waiting as long as possible myself. mabee Bigboy wil ljump in and impart some of his wisdom.

[MiSSMaGoo]

Is that one call say they're CCS or something like that? I used to get those too and still do here and there. I tried to get to a person and have no luck....

[OhioFiler]

1: Is it better for the debtor to have the cc balances go to a CA when it comes to possible objections when filing?

2: Will the OC object more than a CA?

Also I find this strange..I've been getting tons of calls lately, since I'm 6 months out now and they are being charged off or close to. B of A over voicemail offered me 30%.
What I'm find odd is the messages some of these guys are leaving. They say..
This is so and so from soso co..and if this is not 'my name' please hang up. I'll wait 3 seconds and if your "my name" is still online I will assume blbabla something like that..
They are talking to a freakin' answering machine...
Any of you all gettting this weird message? Like I'm really on the phone faking an answering machine
Thanks friends
BTW my attorney wants me to wait as long as I can..due to B.T's made last June.. Last payments to cc's were Aug 08

They're covering their behinds so you can't accuse them of sharing your info with others. Afterall, they told you not to listen if you're not the debtor!

[ready2puke]

Thanks BB and everyone..I did several B.T.'s from one cc to another cc. Large ones, the game caught up to me and my business slowed down to where I couldnt make anymore payments to them.. BoA I've been with since 1982 with excellent history. My last B.T. with them was in June. I made 3 payments..BTW one of my B.T. was to pay off another BoA so thats mute lol...
My Citi cc's which I have two...one I'm not worried about since its old debt (made 8 months of payment to that one)
The other was a large B.T. to pay off Discover. I made 3 payments on that one also. I cant remember how long I've been a customer of Citi, but probably like 10 years

I have a very conservative attorney who thinks I should wait as long as I possible can. Which I appreciate since he wont take any money from me yet and I've logged in over 4 hours of his time..He's concerned about objections and I just dont think I'll get any..But Im not a lawyer.

So I havent paid anyone since Aug. 08 and BoA said this is the last month and its getting charged off. I was thinking maybe I'll have a better chance of a CA not objecting than the OC...
thats it in a nutshell....trying every month to make my rent on home and bus, freaking 720. a month in health insurance is killing me.....and paying utilities bills...
Thanks all

[BigJohn]

When it comes to bank transfers, if in the past you were doing them as part of 'normal business', then recent bank transfers may get looked at as 'doing business as usual' but if there is not much or any previous bank transfer history, that will probably raise an eye brow. Also if some of the bank transfers are used for favoring one creditor over another, that probably will be looked at also.

[SuzieBK]

When I asked our lawyer about recent balance transfers used to pay off other credit cards, he said that while the trustee might see them as preferential payments, it's not really our concern. If the trustee wants to go after Amex for the $5K they got from Citi BT so it can be distributed to our other creditors, it doesn't affect our standing and we're not responsible for the money--ie, because it's between two of our creditors. I'm sure it would be different if you were taking cash advances.

[treehugger1]

I'll back up to something BB said. I don't know if it is true that a debt (notice of claim) that has actually been sold (not assigned) will go to the original creditor. I mean, what's the OC going to do with a BK issue for a debt they no longer own? Do they have a responsibility to forward this to the party who now owns the debt? Gosh, in my case for a few debts this could be 2 - 3 JDB's down the line. LOL This is an interesting question, especially if you are in a BK 13. I would want any party who had their eyes on this debt to be well-informed of the BK filing. On the other hand, I believe the party must submit evidence for their claim in a BK 13. I have to wonder how easy this might be for some 2nd - 3rd generation JDB.

[catleg]

I think the OP was confusing his terminology a little bit, probably meant (as treehugger addressed) the Junk Debt Buyer vs Original Creditor owning the debt at the time of BK.

I think the right answer to that question is that your chance of the original creditors objecting is remote and the chance of the subsequent buyers objecting is infinitesmal.

I'm kind of intrigued by this, from the angle that, suppose few/none of the JDB's file proof of claim, is there a possibility of ending a ch13 early? If I had like 300k of unsecured debt and 50k filed proof of claims and my plan payment is 2k a month, what happens to the extra money?

[ready2puke]

Sorry if I messed up on the terms. OC vs after the debt is sold off...to whomever...
I paid off say Citi that I had a zero interest after a year with a bal transfer from B of A that also gave me a 0% interest rate. So I was playing the shell game trying to keep the interest low. Never used the cc's to buy anything just paying off old debt.

[catleg]

Thanks for the cite BB, interesting case. Credit card lending is so lax, really makes me wonder where you draw the line on something like this. I mean, here's a guy with income of $24,000 a year when he's working, and like $14,000 a year on disabilty and Citi's giving him a card with a 20k limit and he managed to run up 141k in total credit card debt before blowing up? C'mon judges. Looking at the totality here, I'd say Citibank was recklessly incompetent to extend that kind of credit. So even if you make the 22k nondischargeable, how's he expected to pay that back? Crazy. Isn't this normally referred to a predatory lending?

[albacore44]

thats a pretty old case, and before the recent explosion of CC's offering the enticing bt's, and sending those BT checks with every statement. There must have been a reason Citi made an example of that guy. I don't recall seeing any posters on this forum having a circumstance like that

[BigJohn]

.

[BigJohn]

thats a pretty old case, and before the recent explosion of CC's offering the enticing bt's, and sending those BT checks with every statement. There must have been a reason Citi made an example of that guy. I don't recall seeing any posters on this forum having a circumstance like that

Being the chap was from Pakistan and that he bought $10,000 worth of gold and sold at a lost, probably is good enough reason why Citi picked him out of the line. This case is almost 2 decades old. I wonder if Citi has been this active in pursuing people on fraud charges recently?