When To File Bankruptcy » trustee

bankruptcy filing in arizona paralegal vs. attorney?

admin — Tue, 04 Jan 2011 14:25:19 +0000

Curious if anyone has an experience that may persuade me one way or another based on positve or negative experiences. A paralegal is like half the cost and lets face it if I am considering bankruptcy I have less money to hire/spend. On one hand I believe a paralegal to be just as competent as an attorney and most do the lion’s share of work in law firms and then the attorneys comb over their work and sign off. But does an attorney offer any more protection than a paralegal, for instance from a trustee and their digging or at charge off or have more guarantees in a bankruptcy. Or is a bunch of hype.

Technorati Tags: attorneys, bankruptcy, comb, guarantees, hype, law firms, lion, money, negative experiences, paralegal, trustee

Refinancing Mortage during Bankruptcy…?

admin — Sat, 27 Nov 2010 19:14:13 +0000

I’ll make this quick. Do to some circumstances my wife and I fell behind on our mortgage. Our lender is countrywide. We have a 100% financed sub-prime loan with an 80/20 ARM and prepayment penalty. (A piece of trash loan I know, we know better now) Also there is another Lender…Franklin Credit which makes up the 20…We filed for bankruptcy in 2006 and have been making payments for two years now…due to the economy and a few unfortunate illnesses we were not able to stay current on our chapter 13 payments…so there was a motion filed by our trustee to close the bankruptcy unless we could become current by a certain time…..

When we contacted our lawyer he told us that we had three options…
1.bring the payments current(9,000.00) of course we don’t have that…
2.Let the bankruptcy go and hang on until foreclosure on our house starts then try to start another chapter 13….
3.Modify our current bankruptcy and pay them a fee to file this motion…go get chastised by a judge…and make our payments higher.
Oh I guess there were four options…4.convert to chapter 7….

At the time the bankruptcy was initiated there were no problems in making the payments….but then the bottom fell out…I am in transportation….my overtime was cut to 0….my wife has had a significant reduction in hours and I had a surgery that kept me out of work for two months…all of this has led to the fall behind…..

Ok so I have two questions relating to this situation…..

1. Can/Should I try to refinance the loans during the bankruptcy…The mortgage payments are made through the trustee….but we still get statements from countrywide….our current statement is 3000.00 a month UNBELIEVABLE…..If we can’t refinance there is no way we can afford this ridiculous arm after the bankruptcy…

2.Will president Obamas new plan help us during bankruptcy…we don’t know what to do…stay here pumping money into bk13 that was primarily done to save our home that we may not be able to keep after the bk….or convert to chapter 7…let it all go…uproot our family and start over…or possibly get some help from Obamas new plan.

We need guidance…we are good people with good jobs…good family…and good morals…we were admittantly irresponsible in money management…we own our part and we have drastically changed our lifestyle….but we were also taken advantage of as first time homebuyers so we want them to own thier part as well….

Please anyone who can give advice on my situtaion would be greatly appreciated…please don’t soilicit us…we are in trouble…our family is in trouble as many others…we need good soild,honest advice to get back on track…..Thank You.

Technorati Tags: bankruptcy, chapter 13, chapter 7, circumstances, economy, foreclosure, illnesses, lawyer, loans, money, mortgage payments, overtime, prepayment penalty, trash, trustee

If mortgage loan payments are discharged in a chapter 7 bankruptcy are they still allowed to bill you?

admin — Fri, 15 Oct 2010 20:27:36 +0000

We filed bankruptcy and the trustee discharged everything. We were not in forclosure when we filed, we were told we could keep our home and now the bank is demanding 20,000.00 in arears which is not even correct and filed a notice of default on our property. Is there anything we can do to stop this?

Technorati Tags: arears, bankruptcy, forclosure, notice of default, trustee

Bankruptcy and Tax refunds before discharge date?

admin — Sat, 09 Oct 2010 09:41:30 +0000

I filed chapter 7 in the state of CA. The deadline just passed on the 26th of Feb. for any debtors to object. I was told that my next step is to receive my discharge date. I haven’t filed my 2007 return yet but I anticipate about k, when will it be safe to file? Can the trustee still take my refund now? What about after my discharge date? And how long should I wait so that I know it safe? I need my refund to get a new car.

Technorati Tags: chapter 7, debtors, new car, trustee

Help! Is there anything we can do if our attorney messed up our bankruptcy?

admin — Sun, 22 Aug 2010 00:15:04 +0000

We filed a chapter 13 last year. We’ve made several payments, only to just now find out that our bankruptcy attorney severely underestimated the value of our vehicle. Our balance to the trustee will now go up ,000 dollars, and our monthly payment will almost double. To add insult to injury, the attny was very non-chalant and yawning on the phone when he delivered the bad news. At the time of filing, we gave the attorney complete information on our car (including the VIN # and Bill of Sale) , so we assumed his calculations were accurate. Is there anything we can do, or are we just "stuck" ?

Technorati Tags: bad news, bankruptcy attorney, bill of sale, chapter 13, insult to injury, non chalant, trustee, vin