Got back from a meeting with my Bankrupsy Trustee today and guess what!!!!! - GoFuckYourself.com

SleazyDream · 10-23-2009, 01:08 AM

So I'm almost 4 months in now.

going over a few files from people who added themselves to the creditor list fraudulently. Seems there's a lot of people who try and illegally take advantage of the situation to write off taxes. One supplier (North American Lumber) tried to add about $14,000 to MY bill from an employee of mine for material he put on his account BEFORE he worked for me. Another lawyer billed me $9K for 3 meetings....unreal

Anyway, the trustee told me that in Sept they changed the law here and new people filing have to stay in bankruptcy now for 21 months on their first bankruptcy instead of 9 on the recommendation of the trustee.

seems I just missed that one.... ;)

SleazyDream · 10-23-2009, 02:27 AM

funny how these changed happen SUDDENLY too without warning....

d-null · 10-23-2009, 02:30 AM

when you file for bankruptcy in the u.s. what do you get to keep that the creditors can't try to get from you? house? car? etc? or is it all fair game?

JimmiDean · 10-23-2009, 03:40 AM

Quote:

Originally Posted by d-null

when you file for bankruptcy in the u.s. what do you get to keep that the creditors can't try to get from you? house? car? etc? or is it all fair game?

Sleazy is in Canada.
Whole different ball game.

lazycash · 10-23-2009, 09:42 AM

Was Jman on the creditor list?

After Shock Media · 10-23-2009, 11:07 AM

Quote:

Originally Posted by d-null

when you file for bankruptcy in the u.s. what do you get to keep that the creditors can't try to get from you? house? car? etc? or is it all fair game?

Really varies by state.
Some states the house is off limits no matter how much it is worth nor how large it is. Other states your house and often car is for the most part safe.

Not like they strip you of everything, sell it to the highest bidder, and then you are done. Very often your basic assets are safe. Like a car, your house if reasonable, your basic furnishings, etc.

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....

SleazyDream · 10-24-2009, 02:42 AM

Quote:

Originally Posted by d-null

when you file for bankruptcy in the u.s. what do you get to keep that the creditors can't try to get from you? house? car? etc? or is it all fair game?

no idea - in canada every province is different.

here you get (if I remember right without looking it up again)

$3000 equity in a car (you can have a $90,000 car just no more than $3k equity in it)
$7000 biz equipment (used auction value)
$4500 household furniture (used auction value)
all your pets
all your RRSPs/pension
6 months food
6 months fuel
family hearlooms

plus $1870 a month after tax and biz expensis till you are released from bankrupsy.

first time it was 9 months to 21 months depending on how you handle the 9 months which means most were released at 9 months - just changed to 21 for everyone.

you have to file an expense report of all income in and out every month while in bankrupsy

SleazyDream · 10-24-2009, 02:45 AM

Quote:

Originally Posted by lazycash

Was Jman on the creditor list?

I included his contract and everything pertaining to it (ie the missed payments and money owed for other things and such) and told him he could file a claim but it would have to be legal and to make sure he included everything and see what the trustee said- he spoke to the trustee on the phone many months ago but hasn't claimed yet.

Bman · 10-24-2009, 08:24 AM

Good Luck getting out of it. I guess its like finacial bootcamp for now.

SleazyDream · 10-24-2009, 08:06 PM

Quote:

Originally Posted by Bman

Good Luck getting out of it. I guess its like finacial bootcamp for now.

it's exactly like that

PurrrsianPussyKat · 10-24-2009, 08:41 PM

Best of luck pulling through all that Sleazy!

CunningStunt · 10-24-2009, 08:47 PM

Who cares about your lame little life?

SleazyDream · 10-25-2009, 01:39 AM

Quote:

Originally Posted by CunningStunt

Who cares about your lame little life?

you do. you keep clicking on my threads!!!!

Bake · 10-25-2009, 02:18 AM

Quote:

Originally Posted by SleazyDream

you do. you keep clicking on my threads!!!!

Cool thats funny, GFY allways has the trolls

After Shock Media · 10-25-2009, 02:23 AM

I care and I do not even know sleazy.
He always seemed pretty cool and very caring to his friends even to a fault. Would see no reason to not have him as a friend or to back you up on something. Just always had the feeling that he would give what he could to a friend in need even if he needed it himself.

slapass · 10-25-2009, 02:45 AM

I do not know as if I would post this on here. Your main domain is worth a lot more then 7k even if you closed the site for a year.

Iron Fist · 10-25-2009, 04:49 AM

WOW that sucks.... good luck

10-23-2009, 01:08 AM	#1
SleazyDream I'm here for SPORT Industry Role: Join Date: Jul 2001 Location: Phone # (401) 285-0696 Posts: 41,470	Got back from a meeting with my Bankrupsy Trustee today and guess what!!!!! So I'm almost 4 months in now. going over a few files from people who added themselves to the creditor list fraudulently. Seems there's a lot of people who try and illegally take advantage of the situation to write off taxes. One supplier (North American Lumber) tried to add about $14,000 to MY bill from an employee of mine for material he put on his account BEFORE he worked for me. Another lawyer billed me $9K for 3 meetings....unreal Anyway, the trustee told me that in Sept they changed the law here and new people filing have to stay in bankruptcy now for 21 months on their first bankruptcy instead of 9 on the recommendation of the trustee. seems I just missed that one.... ;) __________________ This dog, is dog, a dog, good dog, way dog, to dog, keep dog, an dog, idiot dog, busy dog, for dog, 20 dog, seconds dog! Now read without the word dog.

10-23-2009, 02:27 AM	#2
SleazyDream I'm here for SPORT Industry Role: Join Date: Jul 2001 Location: Phone # (401) 285-0696 Posts: 41,470	funny how these changed happen SUDDENLY too without warning.... __________________ This dog, is dog, a dog, good dog, way dog, to dog, keep dog, an dog, idiot dog, busy dog, for dog, 20 dog, seconds dog! Now read without the word dog.

10-23-2009, 09:42 AM	#5
lazycash Troll Patrol Industry Role: Join Date: Aug 2002 Location: Local Socal Posts: 15,214	Was Jman on the creditor list? __________________ "WTF, on google you can find the answer to every question in human history, EXCEPT how to convert cams.. Its crazy..." VenusBlogger

10-23-2009, 11:48 AM	#7
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..

10-24-2009, 08:24 AM	#10
Bman Confirmed User Industry Role: Join Date: Aug 2003 Location: Redirecting your traffic Posts: 1,679	Good Luck getting out of it. I guess its like finacial bootcamp for now. __________________ ICQ 228211529

10-23-2009, 02:30 AM	#3
d-null . . . Industry Role: Join Date: Apr 2007 Location: NY Posts: 13,724	when you file for bankruptcy in the u.s. what do you get to keep that the creditors can't try to get from you? house? car? etc? or is it all fair game?

10-24-2009, 08:41 PM	#12
PurrrsianPussyKat Confirmed User Join Date: Jan 2004 Location: Lost in the mountains Posts: 2,088	Best of luck pulling through all that Sleazy! __________________ Need a reliable, reasonably priced php programmer? Hit me up! 2934409

10-24-2009, 08:47 PM	#13
CunningStunt Confirmed User Industry Role: Join Date: Aug 2006 Posts: 5,594	Who cares about your lame little life?

10-25-2009, 02:23 AM	#16
After Shock Media It's coming look busy Join Date: Mar 2001 Location: "Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn". Posts: 35,299	I care and I do not even know sleazy. He always seemed pretty cool and very caring to his friends even to a fault. Would see no reason to not have him as a friend or to back you up on something. Just always had the feeling that he would give what he could to a friend in need even if he needed it himself. __________________ [email protected] ICQ:135982156 AIM: Aftershockmed1a MSN: [email protected]

10-25-2009, 02:45 AM	#17
slapass Too lazy to set a custom title Join Date: Nov 2002 Location: Earth Posts: 14,622	I do not know as if I would post this on here. Your main domain is worth a lot more then 7k even if you closed the site for a year.

10-25-2009, 04:49 AM	#18
Iron Fist Too lazy to set a custom title Join Date: Dec 2006 Posts: 23,400	WOW that sucks.... good luck __________________ i like waffles