GoFuckYourself.com - Adult Webmaster Forum - View Single Post - Got back from a meeting with my Bankrupsy Trustee today and guess what!!!!!

Raven · 10-23-2009, 11:48 AM

actually, it depends on the trustee and his/her interpretation of the state and federal law and whether your particular state is a judgment state or a non judgment state..and a whole bunch of other factors.

i've heard horror stories about people being forced to move because the trustee thought the rent was too high and the person would have to live off less....

taxes can be attached and bonuses, money trails are searched....what can't be touched are 401k and other retirement deferred tax programs.....but if you have money in the bank and they can find it, it can be included....it's all about the money and the assets.

since the laws changed for chapter seven in the US, many can only file chapter thirteen, which is the restructuring type of bankruptcy....you have a trustee up your anal cavity for three to five years.....as with anything else, get a good lawyer....

generally, people who are filing chapter thirteen can do this one of two ways...they are either giving back assets or keeping them....and paying them off in a restructuring of debt, non secured and secured...

there is also the type of chapter thirteen where the debtor simply cannot afford and i forget what it's called, but i think it's called a hardship chapter 13, whereby the home is turned back to the bank...and the other creditors take a lesser amount.

either way, you're fucked for the five on the payback and another five for the credit reporting agencies....

10-23-2009, 11:48 AM
Raven Confirmed User Industry Role: Join Date: Jul 2001 Posts: 6,874	actually, it depends on the trustee and his/her interpretation of the state and federal law and whether your particular state is a judgment state or a non judgment state..and a whole bunch of other factors. i've heard horror stories about people being forced to move because the trustee thought the rent was too high and the person would have to live off less.... taxes can be attached and bonuses, money trails are searched....what can't be touched are 401k and other retirement deferred tax programs.....but if you have money in the bank and they can find it, it can be included....it's all about the money and the assets. since the laws changed for chapter seven in the US, many can only file chapter thirteen, which is the restructuring type of bankruptcy....you have a trustee up your anal cavity for three to five years.....as with anything else, get a good lawyer.... generally, people who are filing chapter thirteen can do this one of two ways...they are either giving back assets or keeping them....and paying them off in a restructuring of debt, non secured and secured... there is also the type of chapter thirteen where the debtor simply cannot afford and i forget what it's called, but i think it's called a hardship chapter 13, whereby the home is turned back to the bank...and the other creditors take a lesser amount. either way, you're fucked for the five on the payback and another five for the credit reporting agencies.... __________________ Raven ~RETIRED~ Last edited by Raven; 10-23-2009 at 11:50 AM..