Our home was appraised at $80,000 and the asking price was $40,000, it was a foreclosure. We paid asking price and our loan amount is $40,000. We bought it recently and have only made 3 payments. We are not past due on the mortgage payments.
I'm new to BK but read that in michigan you can keep your home under chapter 7 if you have less than $7000 in equity (we're married and filing BK jointly) and not behind on payments. So if we have $40,000 in equity we would lose our home right?

Hi There,
I've not been having a lot of success with cleaning up IIB accounts showing derogatory info after the BK filing date. I've threatened re-opening the BK case to have sanctions imposed on the OCs but the are just not taking me seriously.
So, I am now considering registering complaints with the FTC.
Has anyone had experience with such complaints? Are they effective and what would be the correct procedure??
Also interested in experiences with BBB complaints.

On December 15th we filed a Ch 7 Bk. I just found out from my lawyer's assistant that we must meet with our lawyer on Thursday to convert it to a 13. Apparently we make too much for a CH 7. My question is the lawyer is only concerned with our credit card debt. He wants to do a plan to include only our credit cards and payments over a 3 year term. We owe more on my dh's truck than what it is worth so my question is… Would it be more beneficial to us to include his truck?? I mean when yo

So what should I look for on pacer now that my 341 is finished?

Faster than I thought! We filed on 3/11 and our 341 hearing is on the 8th of April! I guess it's not THAT soon after filing but it seems like it.
I looked up our trustee and he's also a bankruptcy attorney. Is that the norm? If so that's something I didn't know and find it pretty interesting.
Anyhow it will be nice to finally have this behind us.

We're filing Ch. 7 shortly and we have a truck loan with our credit union – we plan on re-affirming the loan. I've heard some people say that Credit Union's won't do that? Is that true or not?
Also, since we're keeping the truck loan with the credit union are we okay keeping our checking accounts there?
Thanks everyone

Long story short we had to submit additional paperwork for the U. S. Trustee. She asked for and was granted(what a surprise..not) a motion to extend time so that she could do just that. At least that is what she told our attorney. Anyway along with the additional paperwork we have to have depositions taken tomorrow. My question is I have never done that and I would like some clue as to what to expect. My attorney keeps telling me I am too nervous but he is not in our shoes. What is the purpose o

Hello folks not sure how to word this have been searching on the board. Thinking maybe in the wrong area or wrong search term. Here is the issue I'm trying to help a friend buy a new home. He filed CH13 in Oct of 2000. It was dissmissed in NOV of 2001, stopped paying from a lay-off. This is my hang up point, For the debts that were in the Bk13 did the clock on the SOL renew and start a new clock. since he did start paying until he got laid off.
Or were the SOL's from the orgina

DW was declined by Kroger – letter cited reason as "BANKRUPTCY". She's 675 TU and 658 EQ, so she sent a letter back asking for recon and stating her medical problems as the reason…showing sterling payment history on new credit since discharge. Does anyone have experience with Kroger / RBS on this? Are they bk unfriendly?

Through Cap 1. Tried HSBC, Roadloans and Citi. Any other suggestions?