Someone in the other thread mentioned I can’t leave the country after filing and discharging my debts?
Y’all know I’m from Rothenburg ob Der Tauber, and heretofore, I have been able to go home twice a year (Spring, and right before the Holidays), and I know that with the way things are with me financially and health-wise, I can’t go home this time, but is that the way it is??? For the entire 7 years???
A friend mentioned that at the hearing I am going to be asked how much money I have on me, and they’re going to tell me to give it to them.
Yes, of course, but I was just taken aback by that comment!
I’m already, in essence, saying that I can’t pay my debts, and now you (they) want to take what little money I do have?
Thanks to my friend Oakminster and several others of y’all, I am keeping just a very minimum of money in my checking account and going cash only right now, but yeah, based on what that person said, I will go to my hearing with no money at all.
Thanks, and thanks MannyL. I went there and bookmarked the site!
I had no problem leaving the country, even the same year I filed. I was not asked about money on my person. They only forgave the debts. I was able to keep my car. (I had to pay it off in one balloon payment). My retirement was spared. I actually started getting credit card offers within a year. They had usurious interest rates and I didn’t want to fall into old habits, so I ignored them.
I’m guessing the person who made the comment about being unable to leave the country was not living in the US.
Not being able to leave the country? Complete pish!
Taking your cash on hand, literally out of pocket? More of same!
How is it you have filed but not met with a trustee? And if you have met with a trustee, how is it he has not explained this in detail to you, including providing you with written material explaining same. Where I live, it’s the law.
I am confused about how you can be so misinformed after having met with the trustee.
Credit card companies are getting more and more into disputing your charges at the hearing. A few years ago most wouldn’t even show up. Now the banks are showing up and demanding that you justify any purchases you made after you knew you were in over your head.
The old “robing Peter to pay Paul” is getting harder to get around. The banks are taking the attitude that if you knew you couldn’t pay you should’ve stopped at that point.
It’s best to make sure you have nothing in cash. And beware of those credit cards that you get and put money on. They don’t always work well everywhere, and most won’t work overseas. Oh the cards are legit, but sometimes stores have trouble verifying them so the Visa Gift Cards (and the like) aren’t exactly like they advertise.
I’m going through a conversion to a chapter 7 right now, no one has told me I can’t leave the country but the cash on hand thing comes from what’s in your bank account on the day you filed. My lawyer made sure I knew that there was only a $100 exemption for cash on hand- if I had any more than that as a balance on the exact date I filed, I might have to turn that amount over. I had to pay my rent in cash, because it didn’t matter that the money was intended for that.
I have gotten alot of great information from BKforum.com- which made a big difference because I went with decent but mass-producing local lawyer and they don’t spend alot of time explaining things.
Good luck- I have my 341 on Nov. 18th (already did one for my 13, got laid off two days later, now I’m
doing the hopefully final one).
Edited to add- you will meet your trustee at the 341- that’s the meeting of creditors. At that meeting, they just ask you questions like you name, address, swear you to honesty :)! and clarify any issues they see in your petition. Its also the opportunity for any of your creditors to show up and dispute the discharge. They’ll ask why you are in this situation, clarify any income (one lady I watched had to justify three or four different properties- one had a tenant but that person wasn’t paying her since it was about to be foreclosed on), that kind of thing. After the 341, you get a notice to dismiss- don’t panic. It’s just the trustee saying- here’s what I need to discharge this case and they will list any documents (current bank statements, etc) that you need to provide. They may require you hand over tax refunds for a time (but probably not in a 7) and if you hit a jackpot or inheritance in the next few years, they may want that too, from my understanding.
edited AGAIN (too much time went by to put in my original reply)- forgot to explain that the trustee is basically there for your creditors, but unless you get an asshole, they aren’t anyone to be afraid off as long as you aren’t hiding assets or income. I had a little worry over some sheep I own, but she took my word for it as far as what they were worth and just put that into my plan. The trustee is there to make sure that you really can’t pay your debts, or if you are doing a 13, that all available income (ouch!) is going towards your plan payment.
I hope they will be there, Markxxx! I want them to see me and hear me explain what happened and that I regret it with all my heart!
For a guy who survived being called “Nazi” in school, re-built his credit after a divorce, ran a marathon and finished, rode my bicycle from Texas to Georgia for the animals, helped a school friend achieve Mayor of my American home town (and yes, I know about “past laurels”), this is a severe “kick in the head”, and I am dealing with it the best I can.
Markxxx and everyone: I am very grateful for ALL the advice and good wishes, I surely am, and I am trying my damndest to hang on to a little pride and self-esteem, but given what’s wrong with me mentally, it’s a tough road.
I only ever wanted to help others, never even imagining that I would be on the receiving end one day.
But you know what?
This whole debacle has strenghtened my resolve to get back to the guy I was a year ago, and help others the best I can.
I think I may be the one who gave you the idea of ‘not being able to leave the country’, Quasi. Actually, I’m from Singapore and bankruptcy is treated more harshly here. I remember being unable to leave the country is one thig. One other thing that happened (to my dad) is that the creditors would come to sieze what you have (tv, sofa and all) and auction it off to pay the debt, or as much as possible.
Whew, what a relief to know that whenever I can afford it, I can see my Uncles, Aunts, Cousins and School-Friends and not have to worry about being denied travel because of this!
That would have been the final “slap in the face” for me, but I am sorry that things are the way they are in China, CrazyChop!
We are all in this together, no matter what one’s nationality or political affiliation, and the sooner our leaders realize this, the sooner we could save our planet.
I couldn’t find cites for what I have said, about ceditiors siezing your stuff and not able to leave the country (I can’t grok the legal doc as well) It is such that bankruptcy in Singapore (not China, Singapore! Yep we always got confused with China) is considered as a stigma (failure is not handled very well here, but maybe society’s view of banktrupcy has improved) and a lot of falsehood may have been weaved into it. From here. Maybe what happened to my father was something else.
It may mean that you are unable to get a government housing flat (which is a big deal in a small country).
Sorry for causing you any undue worries, Quasi
ETA: I’m not sure why Singapore is so draconic about bankrupty, but apparently you have to apply for permission to leave the country (from here). And it’s on your credit reports for 7 years.
Unfortunately, never mention that you want to do something so frivolous as visiting family overseas, they will assume you are hiding assets and really rake you over the coals. Every single penny is to go towards the debt.
My cousin Pam made that mistake … and she wasnt hiding anything, but was told that any efforts at making money were for debt resolution, personal maintenance [rent food] and nothing else.
When you mention WOW … your subscription was prepaid as a gift, you are not paying for it. Otherwise they could theoretically make you cancel and get a refund. Better to not mention it at all.
As the law is written, anything you own or are owed as of the date you file your case is property of the bankruptcy estate. Anything you earn after filing is post-petition, and is not property of the estate (note - there is a 180 day period after filing that can come into play if you come into a lot of money in that time frame).
You are allowed personal exemptions on property, but these vary by state. In Indiana, you can exempt intangibles, like cash or bank funds, up to $300 per person. Anything else is subject to turnover. In your state, the exemption will be different, so check with your counsel if you have any concerns. So, it’s not so much what you have in your pocket at your 341, but what you had in your pocket on the day you filed.
So, really, if you want to spend your post-petition earnings on crack and whores, you can. The Trustee isn’t going to care about any of it, unless he/she discovers that you’ve been hiding something.
IANAL, so check with your counsel for any questions.
Yes- it’s a totally different deal if you are doing a 7 vs. a 13. You are allowed a certain amount exemption for possessions (I think under $500 or something) and a modest vehicle exemption. My truck is worth about $3800 and it’s exempted, although I have to continue paying the payment (two left!).
I was worried about things like cable and magazine subscriptions- they come up when you list your expenses and from what I understand, unless it’s really excessive, they won’t care too much. For example, my phone, dsl and cable bill are $150 a month and I wasn’t questioned about that as an expense at all. But they do want every available cent (for the 13), only allowed me $100 for our many, many pets but did not make me sell my sheep :).
The hardest thing for me right now is that I’m about 80% sure I lost my job because of the BK, which is illegal but I can’t prove it. I’m still trying to cope with that loss and unfortunately, because I had a wage garnishment, I could not keep that from my employer. If you have a choice, I would not make it public knowledge.
Quasi, now that you’ve retained counsel and paid his fee, you really need to address any questions you may have to your attorney. That’s why you paid him.
Quitre a few of us can answer general things, but local practices vary considerably, and your attorney will know more about how they handle things in the Court that is hearing your case.
