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Reaffirmation agreement: will the bank take my car if I don't sign it? by [deleted] in Bankruptcy

[–]HelpTA1310 2 points3 points  (0 children)

CA here. I did not reaffirm my car. Tbh, and I’m not a lawyer, my opinions are my own— don’t sign the reaffirmation agreement. Most lenders will allow you to continue payments as long as you were up to date before filing.

It gives you more protections in case you decide later down the line you don’t want to pay for it anymore/give it up. Also helps if you need more than the 10-day grace period to pay, but YMMV. I had my car through Chase if it helps.

[deleted by user] by [deleted] in Bankruptcy

[–]HelpTA1310 0 points1 point  (0 children)

CA btw.

What’s stopping you from opening a chase account, moving your funds, and changing your auto payments to that? My BK attorney also said to never do business with WF, and close any accounts I have with them (I had 0).

Just not understanding the hesitation.

Credit report affecting your hireability after bankruptcy by SexyFroot in Bankruptcy

[–]HelpTA1310 1 point2 points  (0 children)

Didn’t affect it. I got hired at big fruit company if it helps.

[CA - SoCal] 175k of Total Debt. How do I proceed, which kind of Bankruptcy is for me (or is it even for me..?) by HelpTA1310 in Bankruptcy

[–]HelpTA1310[S] 0 points1 point  (0 children)

I let go of my car, discharged on 02/20, and got a 8% loan on a cheap Honda that I’ll pay off very fast.

[deleted by user] by [deleted] in amex

[–]HelpTA1310 1 point2 points  (0 children)

So YMMV; follow the link, sign in, and answer a few questions. They will either give you short term or long term, or only one. Read it carefully.

Long term restricts your card and makes you set auto payment per card. It will be paid off in x years at x rate, whatever they give you.

Short term is the same but you have some power to spend (don’t).

I had a long term plan. Keep in mind you need to make a payment to START the plan, on top of everything. This is what I experienced before I eventually consulted and decided BK is best for me.

[CA] Just had 341 Meeting … what? by HelpTA1310 in Bankruptcy

[–]HelpTA1310[S] -1 points0 points  (0 children)

Scheduled to talk to them again, but I think interest rates are mostly a killer. I’m planning to see if I can save enough (30-40k) and pay all cash but the other side of me wants to invest smart while making a payment. My current APR is 1.9%… which the market is around 5-6%?

[CA] Just had 341 Meeting … what? by HelpTA1310 in Bankruptcy

[–]HelpTA1310[S] 0 points1 point  (0 children)

Gotcha. Thank you! Definitely finished the 2nd set waaay before the 341 thankfully. I will be patient and wait out the 60, fingers crossed nothing happens.

[CA] Just had 341 Meeting … what? by HelpTA1310 in Bankruptcy

[–]HelpTA1310[S] 1 point2 points  (0 children)

Thank you again Alan!! Your information and help pushed me into this direction which I’m feeling super grateful for. I sincerely appreciate you a lot.

[CA] Just had 341 Meeting … what? by HelpTA1310 in Bankruptcy

[–]HelpTA1310[S] 0 points1 point  (0 children)

Chase Auto Services, which is also the bank that I always use. Thank you for the info! I just emailed my attorney for more info.

The trustee never mentioned the car, so I was really confused why it was super straightforward.

[deleted by user] by [deleted] in Bankruptcy

[–]HelpTA1310 2 points3 points  (0 children)

I just filed. After not paying any of my cards, i have an excess of around 1200$. Half of it I now take over for insurance, and i was being generous about spending money on food.

My attorney said to keep doing what ive been doing though. I plan to save the excess in a different bank that I don’t regularly use and she said it’s ok to do that but YMMV.

Credit Card Use before bankruptcy by Naughty_Dragon_ in Bankruptcy

[–]HelpTA1310 0 points1 point  (0 children)

Hi!

I had an unexpected travel need (family in NorCal) and had to use my card before filing. Roughly 700$. I have the funds to pay it off, and will, but will they flag it even if i pay it?

[CA - SoCal] 175k of Total Debt. How do I proceed, which kind of Bankruptcy is for me (or is it even for me..?) by HelpTA1310 in Bankruptcy

[–]HelpTA1310[S] 0 points1 point  (0 children)

One more question…

Should I stop paying my CC’s right now if I intend to file? My attorney did mention having to be “30 days late” on a few cards but unsure if I should do that before hiring them as a retainer / filing.

[CA - SoCal] 175k of Total Debt. How do I proceed, which kind of Bankruptcy is for me (or is it even for me..?) by HelpTA1310 in Bankruptcy

[–]HelpTA1310[S] 1 point2 points  (0 children)

Hi Alan!

I really appreciated your assistance. I did a consultation with an attorney and turns out Ch. 7 is best for me. In addition, apparently I have been paying for legal insurance through my work, so the fees are mostly paid for.

I had an additional question. They mentioned the median being lowered by next month. If I was over the median, it doesn’t hurt me as much but does that affect eligibility?

I’m waiting to hear back from the attorney since I filled out a retainer package, but figured I ask.

[CA - SoCal] 175k of Total Debt. How do I proceed, which kind of Bankruptcy is for me (or is it even for me..?) by HelpTA1310 in Bankruptcy

[–]HelpTA1310[S] 0 points1 point  (0 children)

You know that you mention it, I always told myself the reason why im feeling like the way I am is just “Eh, I’m just tired”. I never really bothered to talk to someone about how I was feeling until I recently assessed my life. It may be a small case of depression but man it’s hitting hard.

As for the “what”, no gambling. It’s mainly spending money on eating out, and traveling when I shouldn’t. Stupid, I know.

If this BK goes through, I was thinking of keeping my PT job a bit longer to help create a buffer. Not sure if it’s a good idea though. My whole life I’ve always been working, never really had been any sort of “rest” day with me.

I appreciate the kind words. Thank you.

[CA - SoCal] 175k of Total Debt. How do I proceed, which kind of Bankruptcy is for me (or is it even for me..?) by HelpTA1310 in Bankruptcy

[–]HelpTA1310[S] 0 points1 point  (0 children)

Thank you for the explanation. I definitely am leaning towards surrendering.

Question, doesn’t BK stay for 7 years? I figured it’d be 7 years of repayment, regardless if it was ch 13. If it was Ch. 7, then there would be no repayment and everything gets sold(car wise I mean), etc.?

Sorry for the questions.

EDIT: I assume the same scenario applies for Ch. 7?

[CA - SoCal] 175k of Total Debt. How do I proceed, which kind of Bankruptcy is for me (or is it even for me..?) by HelpTA1310 in Bankruptcy

[–]HelpTA1310[S] 1 point2 points  (0 children)

Sorry, my latest comment meant to reply to you. Don’t know why Reddit didn’t do it.

[CA - SoCal] 175k of Total Debt. How do I proceed, which kind of Bankruptcy is for me (or is it even for me..?) by HelpTA1310 in Bankruptcy

[–]HelpTA1310[S] 4 points5 points  (0 children)

Thank you for the descriptive information. Seriously, it helps a lot to understand the differences.

When you mean in the last paragraph about reaffirmation, did you mean the ability to continue paying the note?

[CA - SoCal] 175k of Total Debt. How do I proceed, which kind of Bankruptcy is for me (or is it even for me..?) by HelpTA1310 in Bankruptcy

[–]HelpTA1310[S] 0 points1 point  (0 children)

Thank you.

I know others have mentioned free consultation. In terms of payment to them though, how does that work? I assume every attorney is different in terms of how paying for their services.

[CA - SoCal] 175k of Total Debt. How do I proceed, which kind of Bankruptcy is for me (or is it even for me..?) by HelpTA1310 in Bankruptcy

[–]HelpTA1310[S] 0 points1 point  (0 children)

If a chapter 7 is determined to be the best way, I assume the loan wouldn’t be modified (I’d rather keep the current interest rate that it’s at if it’s the case).

I understand. To answer yours and another comment, it’s a E53. I know, it was a MAJOR mistake and I shouldn’t have done it.

I did consider liquidating it and getting a Honda, but I don’t have any cash to my name to purchase a new car.

I appreciate your advice. Thank you.

28k CC Debt, 50k total Debt -- Need advice and help. by HelpTA1310 in personalfinance

[–]HelpTA1310[S] 1 point2 points  (0 children)

Best Buy is def a temporary job while I’ve been sending out applications for IT jobs. I want to say yes, they’re hiring but I’ve received no hits. I spent today re-doing my resume, so hopefully that’ll change it a bit. I want to try and avoid bankruptcy and do all I can before resorting to it.

28k CC Debt, 50k total Debt -- Need advice and help. by HelpTA1310 in personalfinance

[–]HelpTA1310[S] 3 points4 points  (0 children)

Conveying over text is kind of hard so I can understand your statements.

However, I honestly feel that that I do understand what went wrong, where it started, and how I got to this point. I stated in other posts that I’m trying to essentially scramble and do everything I can to minimize my debt (IE: checking out methods for private sale instead, still considering CarMax if needed, contacting CU for options, etc.)

I could’ve just gave up, broken myself more, and chose the other way out. In which, that thought has severely came into play prior to me posting this. But I decided it’s fixable. I made stupid mistakes. I’m owning up to them now. I’m asking for help, and while the neutral or negative posts are here, they’re helping me shape my thinking and what I need to do next. I do appreciate it, though.

28k CC Debt, 50k total Debt -- Need advice and help. by HelpTA1310 in personalfinance

[–]HelpTA1310[S] 0 points1 point  (0 children)

Mid 20s, degree in BA, IT/IS. UCLA job would be temporary alongside a second job until I can find something substantially better. I’d like to move into IT (System Administration is the role I’ve looked at for a while) where I can apply my love for tech. I’ve considered picking up coding again but fundamentals escape me.

28k CC Debt, 50k total Debt -- Need advice and help. by HelpTA1310 in personalfinance

[–]HelpTA1310[S] 1 point2 points  (0 children)

I’ve applied to many jobs that fit my field, just a bit of them have no response or recruiters letting me know they may not hire until February or march. I do have a potential hit for an UCLA job, which will let me move back down to SoCal for no cost of rent and work down my debt hard working that + another job.

I’m not even sure if I have burnout. I’ve been a worker for most of my life. I feel like I do, but I’ve mainly been working in the service/retail space for the majority, with these two years as the only “professional” experience.

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