[JudyKayTee]

As for saying I'm being savvy in beating the system then who doesn't like to beat the system especially if their situation/cirucumstances are different??

I suspect a lot of people pay their bills, don't try to beat the system, don't plead different circumstances - and then try to pursue people who did exactly the same thing and left them holding a bad debt.

I've attended the continuing Bankruptcy Education classes - the changes aren't as simplistic as you would lead people to believe (or else there would be no need for the classes).

[SAM2008]

As for saying I'm being savvy in beating the system then who doesn't like to beat the sytem especially if their situation/cirucumstances are different?????

I suspect a lot of people pay their bills, don't try to beat the system, don't plead different circumstances - and then try to pursue people who did exactly the same thing and left them holding a bad debt.

I've attended the continuing Bankruptcy Education classes - the changes aren't as simplistic as you would lead people to believe (or else there would be no need for the classes).

Yes, a lot of people pay their bills and don't ry to beat the system, but then there are many people also who are unable to pay their bills for whatever circumstances/situations. So, you cannot judge them. Besides, bankruptcy law is designed/created to protect them; otherwise you had not filed for a bankruptcy.


The changes that I've mentioned having taking place in new bankruptcy laws are there to see by everyone. Thus, I'm NOT misleading anyone. Secondly, I did mention that there is a need to take a couselling. Plus, consueling is JUST a formality and there is nothing HARD about it. It's just that Congress made a requirement that when you file for a bankruptcy then you would need a certificate about attending that counseling. So, what is hard for getting counseling? Maybe for you, but counseling is just a consueling. Don't impose hardship of your case to others. There is nothing hard about attending two sessions of counseling classes. Okay?

Just because new changes don't seem simplistic in your situation then that doesn't mean they are not sympalistic. As I already said that if someone doesn't make enough money then there is nothing changed for him/her because s/he could still file Ch-7 bankruptcy. As for other specific changes then I did mention in my earlier postings. I personally don't see anything hard in those changes except that you cannot file for CH-7 if income of your household is to level. And, now you need to reaffirm car/house loan. Other than nothing is complicated and hard.

[JudyKayTee]

Yes, a lot of people pay their bills and don't ry to beat the system, but then there are many people also who are unable to pay their bills for whatever circumstances/situations. So, you cannot judge them. Besides, bankruptcy law is designed/created to protect them; otherwise you had not filed for a bankruptcy.


The changes that I've mentioned having taking place in new bankruptcy laws are there to see by everyone. Thus, I'm NOT misleading anyone. Secondly, I did mention that there is a need to take a couselling. Plus, consueling is JUST a formality and there is nothing HARD about it. It's just that Congress made a requirement that when you file for a bankruptcy then you would need a certificate about attending that couseling. So, what is hard for getting counseling?? Maybe for you, but counseling is just a consueling. Don't impose hardship of your case to others. There is nothing hard about attending two sessions of counseling classes. Okay?

Just because new changes don't seem simplistic in your situation then that doesn't mean they are not sympalistic. As I already said that if someone doesn't make enough money then there is nothing changed for him/her because s/he could still file Ch-7 bankruptcy. As for other specific changes then I did mention in my earlier postings. I personally don't see anything hard in those changes except that you cannot file for CH-7 if income of your household is to level. And, now you need to reaffirm car/house loan. Other than nothing is complicated and hard.

I DIDN'T say I was attending bankruptcy counseling - I said I'm attending CONTINUING LEGAL EDUCATION CLASSES ABOUT THE CHANGES IN THE BANKRUPTCY LAWS. They are two separate things. I am not imposing the "hardship of my case" on anyone; I don't have a case!

You're the one who posted you got a $45,000 car loan - presumably you have enough income to pay off that loan; I question why you don't have enough income to pay pennies on the dollar to pay off your debts. The Court very well may have that same question.

Otherwise you are entitled to your interpretation of the new regulations and I am entitled to mine -

Okay?

[SAM2008]

I DIDN'T say I was attending bankruptcy counseling - I said I'm attending CONTINUING LEGAL EDUCATION CLASSES ABOUT THE CHANGES IN THE BANKRUPTCY LAWS. They are two separate things. I am not imposing the "hardship of my case" on anyone; I don't have a case!

You're the one who posted you got a $45,000 car loan - presumably you have enough income to pay off that loan; I question why you don't have enough income to pay pennies on the dollar to pay off your debts. The Court very well may have that same question.

Otherwise you are entitled to your interpretation of the new regulations and I am entitled to mine -

Okay?

Okay, I just realized that you did not say that you were attending bankruptcy counseling, instead you said about attening continuing legal education classes in respect to bankruptcy laws. So, my apology. But the way you wrote about it then it does confuse.

And yes, I did say that I got $45K for a car loan but that doesn't mean I don't fall under mean test to file bankruptcy under CH-7. CH-7 has to do with your income, which they call-mean test as per your state you live in.

As for bank to giving me such a loan then I'm sure you know that banks always grant such a loan for buying a car especially if you have an Excellent credit. I've excellent credit right now because all the bad accounts disappeared from my credit reports after 10 yrs later. Not only that, two of my previous creditors reported excellent credit history to credit reporting agencies even though those account were charged off. So, based upon those reported excellent credit history on previous accounts, every creditors are offering me more than $10k. I know if I didn't have those accounts on my credit reports or if they weren't as good as they are not then there is no way in this world I would be getting such a big line of credit, instead establishing my credit from the scratch and it might have taken years to get that much of line of credit.

The another reason banks easily give car loan because there is no way out for debtors to get away. Because if you don't pay them back, they will take your car away. Car loan is a secured loan. That's why I'm sure you have heard that even if you have filed bankruptcy and have a bad credit, you will still get a car loan. Similarly, I was given such a big car loan, which doesn't mean I make good money to not to qualify for Ch-7.

As for your questions why don't I pay pennies on the dollars towards my debts then the simple answer is - The only those people pay pennies on the dollars who have no other choice, like if they don't qualify for Ch-7 or have many things to lose (which I can not describe in detail here); otherwise everyone wants to get away free. Having said that, there is no need for me to file CH-13 to pay my debts as pennies on the dollars when I qualify for ch-7 to wipe all my debt. Do not forget the fact that I've no assets whatsoever. Also, people MUST have to have a continuing source of income/job to qualify for Ch-13 (pennies on the dollars thing).

Those who consider to file bankruptcy, like to get away without paying anything. Almost everyone. But once they know that they can't then they have no other option just file Ch-13. So, why would I pay pennies on the dollars when I totally qualify to get rid of everything without a hitch as bankruptcy laws provide such a protection to me? Also, I own more than $80K... so go figure how much "pennies" I would be paying for such an amount if I decide to pay "pennies on the dollars".

[JudyKayTee]

Those who consider to file bankruptcy, like to get away without paying anything. Almost everyone. But once they know that they can't then they have no other option just file Ch-13. So, why would I pay pennies on the dollars when I totally qualify to get rid of everything without a hitch as bankruptcy laws provide such a protection to me? Also, I own more than $80K... so go figure how much "pennies" I would be paying for such an amount if I decide to pay "pennies on the dollars".


Maybe people like me don't want to pay higher interest and/or higher purchase prices to pay off the debts that people who file in bankruptcy don't bother to pay. Maybe that's why this whole scenario gives me pause.

So you are saying you make enough to make payments on a $45,000 car loan - which is, of course, secured - but not enough to pay off your debts?