Hello,
I'm just trying to figure out what my business assets are considered in a Ch7 BK – for a Sole Prop. in Florida.
Are they considered Tools of the Trade and exempted? I have a Computer 3 years old), Printer, Monitor, All-In-One, desk (more or less everything computer related). I use this computer for at least 85% business related usage.
Also, my husband has about $250 in tools that he uses for mechanic work – for side work (at least once a month – and barely makes any

Hi all. Im glad I found this place and have been doing a lot of reading. My wife and I are torn between trying to repair our credit ourselves or filing chapter 7. We have a bunch of baddies from where we were out of work and i don't know if we could make much headway trying to remove some of them. Some are debts more than $15,000 where she had vehicles repo'd.
Anyways…..We were looking at a couple of BK sites online…..USA BK and Easy BK services. Was just wondering if anyo

From what I understand this is how it works:
1. You include GMAC (or other financing co. in your BK7)
2. Get new financing for the actual value of the car from USBank
3. The original debt is discharged
4. You have a new auto loan with a new lender and a smaller payment.
So the CR now looks like this
GMAC
Discharged in BK7
USBank
Open account, terms, pymts, high balance.
Is that correct?
TIA

I noticed on Pacer (Relating to my BK7), that my case showed this document entered by one of my Creditors (Well the CA collecting anyhow…) Is this just informational, or is this a potential problem? So far all else has gone without a hitch… I had a little scare initially when the Trustee filed a motion to dismiss… but that means test stuff finally got worked out, and they filed another (whatever you call it) and dismissed that concern/motion….

I was under the impression that if u file jointly u each get a full set of exemptions..my attorney is telling me that together my husband & I can only own 3,500.00 worth of personal property.ie: records, books, clothes. furniture, appliances etc..
we are in the Eastern Dis. of NC..this seems ridicoulus.
also he said that since we have 7,100.00 equity in our home we have no wild card…only 10K in house, 3,500.00 in junk, and 1,500.00 in one car… please help.

Our all in one (printer, fax, scanner, copier) has not been working right. Long story short, my husband thought he found a way to fix it so he tried it, left it plugged up and all day today the fax machine has been picking up on the first ring LOL! I don't even know who's called today because it picked up before caller ID had a chance to pop up and show what number was calling. It would be nice to know how many creditors got an annoying fax machine when they called

I made my last payment on my CH 13 plan and the trustee shows it as having been received 7/2/07. They say it takes about three weeks to get the discharge paperwork and/or see it on PACER.
This wouldn't be an issue, but we are trying to close on a new house at the end of the month and one of the conditions BOA has is of course, proof of the discharge.
Anyone have any experiences they want to share on how long it took them to receive the papwork after last CH 13 payment?
Thank

My mother and I share a CC that I'm filing under my chapter 7, any idea if this will affect her or not? My lawyer was very unclear on what would happen. Thanks!

I am planning on canceling our home phone # to save money. Also, it will help in avoiding collection calls. Do you think that will make the cc companies more aggressive in trying to get their money? We are waiting at least another 4 months to file and I don't want anything to get to the judgement/court stage.
Is it better to let them call and get our machine or for them to find a disconnected number? I will only be using my cell phone number for the future.

Gosh I feel like this pending BK has been going on forever. Long story short we finally had all of our paperwork done and had a appointment with our attorney over a month ago and than my husband wound up back in the hospital again. So besides all the new med bills we now have we also spent all of the money we saved for the lawyer so I have to try and save it all again before we can finally file.
So here is my new question until last week we assumed that Suntrust would not do a loan mod wi