My Chapter 7 Bankruptcy Experience.
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- Опубліковано 24 сер 2024
- I couldn't find anyone's experience before I had to go through Chapter 7 bankruptcy. So I made a video of my own experience a couple of weeks later. I also asked my friends and family for their input. I was surprised how many people had filed Chapter 7. Folks don't talk about it much.
![Bankruptcy - [Keeping your House and Car]](http://i.ytimg.com/vi/QspST8Kw4FQ/mqdefault.jpg)
BTW, a couple of weeks ago I received in the mail, my Order of Discharge letter from the bankruptcy judge. So, it's all done. Even though creditors are suppose to stop calling as soon as I filed, they kept calling. Once the letter arrived, my phone rings far, far less.
Desert Mike DIY you can sue them now for harassment, I'm serious, my how the tables have turned
Who did you use in CA for your bankruptcy?
Thank you for this great video! Love your honesty and energy!
You're welcome !
Thanks. I'm about to go through this, and I have found just what you said: a bunch of videos from lawyers. This video is very reassuring.
This video was very helpful. thank you for making this video.
thank you for making this video, very encouraging. I think I'm going to try to go it alone here in Los Angeles, I don't have expensive assets etc, basically just credit card debt
Let us know how you do and what you learned !!
My situation is just like yours, I'm going to go through this now, can you share some insights?... I would appreciated, I live in the LA rea also.
Thanks for the info. I cant afford a lawyer so I'll have to chance doing it myself. Your video helped a lot. I have a simple -no asset- bankruptcy so I think I'll be OK. I've done a lot of research. Thanks again.
Best of luck !!!
Alexandria Summers how's the process for you so far? I'm considering filing on my own as well
Your info is great and it has scared the hell out of me. mostly about the 300.00 balance! Wow, with my luck, a direct deposit will come in.
It scares everyone. Hope this video helps a little.
@@mikep95133 It helped a lot. You told it in a great, casual way but with the right emphasis on the important stuff. Getting ready to have to do this and it made me realize how I have to be totalllly honest and TELL ALL.
@@jancampbell4618 Your judge and attorney will appreciate your candor. That will also make you feel like you did the right thing.
Thank so much. Only real vid I be seen since I started searching.
You're quite welcome !!! Best of luck !!!
Each trustee is different. Mine just wanted bank statements with balances for a rolling 30 day period that includes the date of filing. I did not need to go to the bank and get a receipt with a balance because that was reflected on my statement. I did have to get custom statements for all my accounts because none were ready when my attorney wanted them.
I hear you! I had 2 trustees before my hearing !
Wow, the cost was a total of $600 for attorney, plus a $50 filing fee when I did BK 7 in 1991. However sometime in the early 2000's the BK qualifications changed, to include credit counseling where I live. At the same time, the State rasied the homestead & other exemptions (as this man states, laws vary by State), so I'd qualify again as a homeowner. Provided of course, all of the documentation provided was correct (things were rather loose in 1991, little proof required). Back then, I was asked only two questions & that was it, was expecting several cerditors at the hearing, none appeared.
Took about two months to receive discharge on paper after hearing.
This process reminds me of Social Security disability hearings, were everyone knows one another (attornies, judges, clerks, etc), although my disability hearing was private & more questions was asked. However, prior to the judge entering the room, my attorney, theirs & the clerk were rather chatty. Once he entered, things became serious, however the judge didn't ask the first question, nor did the rep for the judge, my attorney was doing all of the questioning & suddenly the judge awarded me a fully favorable bench decision.
Meaning after over 2.5 years, things started happening fast once I won, just as with the BK 7 hearing. No way would I go to any Federal hearing w/out an attorney, some judges sees it as a lack or respect. Plus one mistake, back to the end of the line (although faster for BK than SSDI).
Yes by all means get an experienced attorney, while I had a well qualified one, there was no Google for reviews, in fact I doubt many of us everyday folks had computers in those days. Thanks to Dell bringing on the price war in the early 2000's with some models at $500 (to include printer), a revolution began.
Thanks, great video gave me more knowledge and confidence.
Best of luck !!
Thank you my friend very helpful..GOD Bless you!
You are welcome !
I don't understand how they expect you to pay your attorney's fees if you can only have $300.
Sam Harper As I recall, I paid the attorneys well before I had to show exactly $300 in the bank. The atty fees were just about all I had left in the world.
In california filling fee us $335... my attorney charge me $1800.my counseling fee was $25..the 2nd one $35.....my court date is Sept 29...thanks for the video...
Best of luck !!!
Where in CA? and who did you use? Thank you.
Thank You for your video it helped me understand
I really appreciated it
You're quite welcome. Best of luck to you !!!
+mikep95133 I am preparing to file
I know this is an older video, but I feel super lucky with the lawyer I picked... My lawyer or his paralegal answer my emails within 20 minutes typically, it's been the silver lining
Good to hear !!
Thank you for this video! I’m scared shitless! I meet with a second attorney tomorrow and I’m a wreck. We’re also home owners!
DorieMendoza Keep a log of your questions and the attorney's answers. Make sure the attorney has lots of positive reviews. It can be a frightening ordeal. It is also a new beginning !!!
Thank you for the video.
Hope it helped !
Thanks for your help. The most info out there (real world talk). Thanks again.
You are welcome !! Best of luck !!!
Simple. Informative.
God bless!
Hope it helps !!!
Thank you very helpful.
You are welcome !
If i sold my vehicle to my family member in 2018 and I file bankruptcy in 2020. Do I still need to inform them about it or not do anything. Or does it only matter within 90 days
Tell your attorney so he knows in case the judge asks about it.
Thank you for your down to earth, easy to understand video about a very complicated process. No way do I want to try this on my own. Now I have to figure out how to pay for a lawyer and choose a good one. Seems like bad experiences, based on videos I've seen, usually happen when people have bad attorneys.
Good Luck !! It's a heck of a journey !!
Great video👍
Thanks !!
Thank you so much!!! Very helpful!
Thank you for sharing your experience. I’d be interested to know about the hardship you may have encountered due to filing 6 months , 1 year later. Has your credit score rebounded etc ?
Amazon turned me down for their card due to the bankruptcy. I haven't applied for anything else so my credit has stayed the same. Every now and then I have a bad dream about it :)
Thank you. Wish I could have seen this back in 2014.
Sorry to hear that. Hope things went well for you !
@@mikep95133 - Yes, received my Discharge in June 2014. Thanks!
@@jacquelinemilowski3444 Glad you made it ! It's a fairly stressful experience.
Does my burial plot needs to be included in bankruptcy ?
No idea.Sorry.
Mike, did you get your letter of discharge after 90 days? What is with the 90 day thing anyway? My trusty meeting went great, my Atty said that everything was done, so when do I get my letter, if you know.
Thanks Sir,
From my hearing date to receiving the letter wasn't very long. They say 90 days to give them room to get their case load caught up. Mine was something like just a few weeks. Depends on the judges work load and staff.
best advice video
Thank you !
Thank you, great information. Your hilarious. Can they take my tax return after filing?
It all depends on your case. Talk to a Ch. 7 Atty. Most will give you those answers in a short consultation.
Thanks for the help. My question is ,I have Social Security and a small retirement annuity, ,these funds go to direct deposit and my bills are paid out through my Bank Account. How does that effect the $300.00 balance when at the end of the month I am under water.
You have to ask an attorney that question. They usually have a free consultation. You will sleep better after talking with one.
I had my creditor meeting a week ago. Trustee said he will file a no asset case. How long you think I will get a discharge?
Judges are buried in cases. So a few months is not uncommon.
@@mikep95133 hopefully talked to the lawyer he said could be 2 to 3 weeks ☺️
@@eduardosalgado3072 Excellent !!
Eduardo - usually 4 months with a Chap 7.
Mike luv your channel on all this DIY. No people do not want to talk about it for many reasons. Thanks for breaking it down what you did. Yes scary stuff. Been there done that 2016. Mine was not complicated and had legal aid. All paper forms to sign. >> If you want it deleted off your report now or you know of others I can help, let me know. I pay referrals too. See my channel for my info.
Talking about bankruptcy is not easy.
Bee Tee Anyway I can contact you for some advice?
@@bernaschneider3575 I don't give advice.
@@bernaschneider3575 yes, email contact.barbara@yahoo
@@bernaschneider3575 have not got your email yet :)
Thank you for sharing made me feel a little better about the process
Best of luck!!
Like mentioned, don't BS your lawyer. Tell him or give him everything he asks for. If there needs to be some BS mixed in...it will be your lawyer telling you what the BS will be or said.
Also know that each state will be different. Some are in depth, some are pricks, some trustee's act like they are pissed. Some places, it goes super smooth and everyone is nice to you.
Trustees attitudes do vary all over the place !!
Thank you. The Lyme Disease community is all under pressure financially since the Weaponised biowarfare microbes are not covered by medical insurance companies. Just trying to survive.
I suspect I have it. Test wasn't positive enough, so of course I didn't get treated. Don't have money for a non-insurance doctor. Luckily, I've made some progress on my own with some things I've tried.
Wonder how many Lymies end up filing for bankruptcy? The number has to be pretty high.
thank you very much
michael davies You're quite welcome !
How much car exempt you got? did you keep all your cars? what they worth?
I'm not sure there was a specific amount. My vehicles were all junkers with high mileage and very old. Their value was very low.
Did the bill collectors finally stop calling you?
They did stop. But now the Mastercard and Visa people call me every day trying to get me to apply for a card.
no money, what can I do?
Study the process and take notes. See if any local attorneys will give you a free consult.
I’m on my dads mortgage loan I moved out of state and freaking out could they take my dads house away?
Make sure your dad asks his bankruptcy atty that very question, asap.
Tt Ortega they have homestead exemptions for the state he lives in so most people are able to keep their homes. If your name is on it too, they may not be able to take it anyway.
Thanks for the helpful info and blessings on you.
thank u
Glad it helped.
Desert Mike DIY I filed ch 7 early last month, & I have the meeting of the creditors dec 15th. I'm 42 yrs old & am very grateful that bankruptcy exists to help with a new start. I'm nervous as heck, even though I have nothing to be scared of. My attorney saw how bad situation is and gave me a payment arrangement , I barely gave the $40- 2 weeks after starting the case . The 2 credit courses are a requirement, but absolutely did not help me.. thanks again
Do we need the profanity?
Yes, I do.
@@mikep95133 Just discounts from the quality of your presentation. Might be OK doing Joe Pesci impersonations, but I tuned you out after the second profane word.
@@judgeparker4236 Our opinions do not match. Nor will they.
Oh lighten up, snowflake.