If you ask for a DV from them are you more likely to get sued?

[ChrissyF]

Just wondering if asking for this if it speeds up the process.

What happens if you ask for the DV and you do not have the account number. It's been so long I have no idea what account number it is since I usually rip up the bills.

[AngelinaCatHub]

Just wondering if asking for this if it speeds up the process.

What happens if you ask for the DV and you do not have the account number. It's been so long I have no idea what account number it is since I usually rip up the bills.

I love it. OK, Chrissy, just observing. IMO you are too terrified for something that is just plain business. One of many, so to speak. I would seriously not give them the time of day, ignore the calls, and don't talk or tell them anything at all. It will always be used against you.

Keep reading here as you are not new under this sun. Love in God to you. 'Hub

[albacore44]

yes,first you need to admit that your going to have to file BK. yeah, it sounds bad at first, but you cant really start over until your filed. next, go talk to several attorneys. lay everything out for them. i suggest you find one who does BK only and has lots of years experience with the court you have to file in. Read this forum extensively. knowledge is power. then make your plan. Perhaps you need to wait a bit for your income to lower to get into a Ch-7. a good BK only attorney can help you plan.

[AngelinaCatHub]

yes,first you need to admit that your going to have to file BK. yeah, it sounds bad at first, but you cant really start over until your filed. next, go talk to several attorneys. lay everything out for them. i suggest you find one who does BK only and has lots of years experience with the court you have to file in. Read this forum extensively. knowledge is power. then make your plan. Perhaps you need to wait a bit for your income to lower to get into a Ch-7. a good BK only attorney can help you plan.

Thanks AB as that is what I was going after once her initial fear is conquered. Knowing your taste in "electrifying women" I am sure you were not apprehensive at all.

Our host must settle down to making that first step, then getting a wonderful nights sleep. She is going to do just fine. If she knew what all the Eeff ups Mrs. and I did, and we got by, she would say, "Hey mine is a 'piece of cake'". You have followed us, you know.

BTW, errr ( can you PM me your Albacore gal's phone number? Keep it quiet from Mrs., you know.) 'Hub

[ChrissyF]

Thanks everyone

I actually have seen a BK attorney & do qualify for BK 7. I am unemployed and have been for over a year.

My problem (which probably sounds stupid, but is legit) is that I have a 1989 boat in my name that was purchased for my husband and his friend about 5 years ago because THEY had no credit & I had excellent credit. The boat is over 20 years old, no yacht by far. The boat is only in my name (loan & title) because I had good credit. Now the friend has good credit but I was told by several BK attorneys that the trustees might want the boat. I CAN'T have that happen because the friend has been paying half the payment for years now. This is what's holding me back. Any suggestions? I was told I can't transfer it since I will get into trouble. The attorney said they MIGHT not want it because it doesn't have much equity, but right now because of the friend (who I don't want to even tell this to because I'm sure he would be pissed) I can't let this happen. I wouldn't have the money to pay the friend back either, but I KNOW he LOVES and would want the boat. I can't suddenly have it "disappear".

[albacore44]

ahh ha. ok. Do you have any idea how much equity you have in the boat ?? What state are you in ?? You could possibly protect the equity with a wild card if your state has one. the other problem is the loan. dont think the UST will allow a boat loan payment to qualify for a Ch-7. can you get the friend to take out a loan and take over the payments ??

i'm in a similar situation where i have a toyhauler trailer and some ATV's that are paid of, and i'm going to protect under the $20k California wild card

[ChrissyF]

Any advice would be appreciated. This is my reason and ONLY reason for not filing. I can't take the chance of losing the boat. I could care less about it, but the situation I'm in is preventing me from not filing, that's why I was looking to possibly settle some debt?

[ChrissyF]

[QUOTE]Do you have any idea how much equity you have in the boat ??

The loan has $7,500 left on it, the boat Blue Book Value is anywhere between 8K-10K.

What state are you in ??

I live in NY.

You could possibly protect the equity with a wild card if your state has one. the other problem is the loan. dont think the UST will allow a boat loan payment to qualify for a Ch-7. can you get the friend to take out a loan and take over the payments ??
I don't know about a wild card? The lawyer didn't mention that, but he did say that I qualified for the BK 7 & he knows about the boat loan. If I could reaffirm the loan I would. He said I could possibly buy back the boat from them, but I don't really have the money to do that.

As for the friend taking over the loan I wanted to do that & he has good credit now, but the attorney said they look back 12 months and that I will get in more trouble doing that?

[albacore44]

So it sounds like you have practically no equity in the boat. so first you need to determine exactly how much its worth. the trustee doesnt want a 20 year old boat with a loan against it. what i would do is file, but tell the court your not going to redeem the loan. then talk to the finance company, and have your friend get a loan to buy out your loan and take ownership. talk to an Attorney about that option and see what he says.

[optimistic1]

I have sent dozens of DV's, no suits in my name as of yet, going on over a year without paying. =]

[pcn]

Stopped paying in Feb '09.
Began sending DV's in Oct '09.
Peace and quite once again.
No suits here... yet.
Will file ch7 early Jan '10.

[catleg]

I sold two of my cars to neighbors about 6 months before filing ch 13, for the price I was offered by the dealer for them as a trade-in. I listed it on my schedules as a transfer of property and thus far, it has gone unquestioned.
As long as you get a number that is defensible you can just go ahead and do it.
Remember if the trustee voids the transfer he's going to own a boat with a lien on it, and he doesn't want that, especially in a soft economy. Whatever proceeds you get from the boat are spent for living expenses before filing.
Also remember that for a no-asset chapter 7 the local trustee makes $60 as his fee for handling the case, so for an '89 boat he's really not going to dig much, he'll probably be relieved it's gone.