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    1. C

      BK finally closed!

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

      Reporting net operating loss as asset in bankruptcy?

      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...
    3. C

      Tax consequences of Bankruptcy/amend return?

      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...
    4. C

      Ch 7 asset BK, how long till case is closed?

      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...
    5. C

      SBA loan discharged, can they keep pulling credit report?

      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...
    6. C

      After discharge, can trustee ask for anything else?

      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...
    7. C

      Web address for credit forum that has been mentioned on this site?

      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...
    8. C

      How should a reaffirmed account look on credit report?

      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...
    9. C

      Right of setoff?

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

      Question on 341 meeting

      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...
    11. C

      Bankruptcy and a new car

      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...
    12. C

      including car in bankruptcy

      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).
    13. C

      Adversary Proceeding Because of Undeclared Stock

      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...
    14. C

      Re-Affirmation Questions

      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...
    15. C

      Student Loan Follow-up

      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...
    16. C

      Questions right after 341

      I am not sure of the previous posters financial and moral history, but clearly they feel comfortable standing in judgement on the little information available. Our attorney also gave us the "spending down" advice. We took that to mean that the months following bankruptcy would be very lean and...
    17. C

      Hoa

      Pay your dues It seems pretty straightforward. You did not reaffirm your mortgage, but you continue to make your mortgage payments presumably because you want to continue to live in and keep the home. If you keep the home you are responsible for your hoa dues. Even if you let the bank take...
    18. C

      Confused by ch 7 process

      Nothing to be confused about Basically you got it all right. There really is nothing to be confused about. At the 341 meeting you swear an oath that all the information you have provided the court is true and correct, and if you are an honest person than it is. If you are not an honest...
    19. C

      New BK laws and waiting to file

      You have some time Even if the law was signed today it would be six months before it took effect. That being said, if it were me, I would not wait too long because once the law is signed there will probably be a mad rush where everyone tries to file at once. If you are going to use a lawyer...
    20. C

      Tax Refund & Reaffirmation

      Don't do it. If you want to feel less nervous walking into your 341 meeting, do everything by the book. If you try to hide your tax refund you will walk into the meeting basically knowing you have committed fraud, and praying that the trustee does not find out. Not worth it, not worth it, not...

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