Recent content by chris7

What is the name of your state? TX Filed Asset Ch 7 BK 12/04 and it just closed 3/06. Finally!

What is the name of your state?TX I have recently read the IRS pub 908 "Tax consequences of bankruptcy" and learned that tax atributes like capital losses and net operating losses belong to the bankruptcy estate. We filed BK in 04 and on our 03 return we showed both a net operating loss and a...

What is the name of your state? TX My hubby filed Ch. 7 BK (asset case) on Dec. 28 2004. I did our 2004 tax return in March 2005 and sent it off. On it I claimed a NOL carryover and a capital loss carryover from 2003. Well, as I'm gearing up for this years taxes I found and read IRS pub 908...

What is the name of your state?TX We filed Dec. 31, 2004. Most recent activity was Nov. 7, 2005 when trustee got approval from court to pay himself. Nothing new since then. Is everything at the trustees discretion as far as when he gets around to doing things? In our case paying the...

What is the name of your state?TX My husband's co. went out of business. SBA loan was discharged 4/05. On TU credit report the SBA has an account review inquiry for 7/05. Can they keep checking his credit even after discharge? My guess is that this is just a automatic quarterly credit check...

What is the name of your state?TX We got our discharge in April. We are an asset case and the proofs of claim were due last month. I know the next thing that will happen is that the trustee will distribute assets and eventually the case will be closed. My question is that if this process...

What is the name of your state?TX In the past I have seen a credit forum mentioned on this site but i can't get the search function to work. I'm trying to figure out how a reaffirmed account should be reported on credit reports. If anyone knows the answer or the web address of the credit form...

What is the name of your state? TX We reaffirmed our home mortgage. It was filed with the court and a court stamped copy was sent to the bank. The bank confirms that they received it. When I pulled our credit reports the mortgage is being reported as discharged in bankruptcy, recent payments...

What is the name of your state? TX Can a creditor exercise their right of setoff once bankruptcy has been filed?

Ouch! My understanding is that the trustee will take (unless it's some how claimed as exempt) whatever your bank statement states was in your account on the date of filing. That's why its always recommended that those final weeks you should purchase money orders to pay for things, that way the...

We financed a vehicle about 1.5 months before filing Ch. 7. At the time we got the car we knew we would file eventually, but were not planning to do it in the immediate future. When we had our free consultation with the lawyer he ended up talking us into filing immediately. The recent...

You have to list your car as one of your secured debts, it's not a choice, you have to list all debts. In order to keep the creditor from then coming after your husband, you can reaffirm and keep the car (or in some states you don't have to reaffirm, you just keep making the payments).

My only thoughts are that if they are charging you with "willfully and fraudulently failing to list ownership" as grounds to revoke your discharge, then that is what they are going to have to prove to get it revoked. I do not know how they could do that. Could they have something in writing...

We did reaffirm our home, but i think it depends on your personal situation. We filed because of a business failure. By the time we filed my husband had a new job and we are back on track. We chose to reaffirm because if we are going to be making payments for 20 -30 years I would like those...

Get it fixed Go ahead and fix it so you can walk into the 341 meeting with the trustee knowing that everything on your paperwork is correct. If you tell the trustee at the meeting about the ommission he can tell you to amend your paperwork, and it will probably cost more at that point. This...