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Not always. In a chapter seven it depends on teh amount of equity in the secured property. Creditors can (and do) force the sale of homes and sometimes even cars in a chapter 7 when there is significant equity. I used to be a BK paralegal, I've seen it happen.
Hence that word "generally". You know, the one that means "not always".
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You also aren't addressing other things like credit cards, which will be wiped with the medical debt. You can't "reaffirm" unsecured debt. You can't pick and choose.
Not always. In a chapter seven it depends on teh amount of equity in the secured property. Creditors can (and do) force the sale of homes and sometimes even cars in a chapter 7 when there is significant equity. I used to be a BK paralegal, I've seen it happen.
You also aren't addressing other things like credit cards, which will be wiped with the medical debt. You can't "reaffirm" unsecured debt. You can't pick and choose.
Exactly, only "secured" debt gets reaffirmed (why would a creditor be willing to "reaffirm" debt that doesn't have a tangible item they could take?) and then only if the creditor agrees to do it.
And as you say, it depends on the how much equity you have in the home or car. I know that in NY, if your car is worth more than $2400, you will lose the car. There are a couple of states though where ANY house can be kept in a BK, not just those under a certain equity, Florida is the most noted one, there was a big story years ago about actor Burt Reynolds declaring chapter 7 and being able to keep a home in that state worth over $1 million.
Hence that word "generally". You know, the one that means "not always".
Yeah, and?
So you think it's OK to hide debt from a potential creditor then stick it up their ying yang when you can't pay your bills and file BK and make that debt go away? If so, you are one of the biggest things wrong with this country these days--an utter and total lack of personal responsibility.
Florida is the most noted one, there was a big story years ago about actor Burt Reynolds declaring chapter 7 and being able to keep a home in that state worth over $1 million.
Only if you've declared it as your homestead, which also requires you to be registered to vote here, have your DL here, have your bills come here, etc.
If it's a vacation, second, or investment property, say "buh-bye."
So you think it's OK to hide debt from a potential creditor then stick it up their ying yang when you can't pay your bills and file BK and make that debt go away? If so, you are one of the biggest things wrong with this country these days--an utter and total lack of personal responsibility.
I don't know what the hell you're talking about, and honestly, I don't think YOU know either. I never mentioned anything about hiding anything from anyone.
I don't know what the hell you're talking about, and honestly, I don't think YOU know either. I never mentioned anything about hiding anything from anyone.
The ignore list is your friend.
I no longer read her posts, but whenever I browse a thread that she has posted on, I'm reminded of a character in a very well known 1939 classic movie. One of her memorable lines was...
I don't know what the hell you're talking about, and honestly, I don't think YOU know either. I never mentioned anything about hiding anything from anyone.
I no longer read her posts, but whenever I browse a thread that she has posted on, I'm reminded of a character in a very well known 1939 classic movie. One of her memorable lines was...
Explain what? I've already stated FACT. Maybe you need to go re-learn reading comprehension.
Really? let's check your "facts". I'll start from the top and go slow.
My original post on the matter, that wasn't even directed at you...
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Originally Posted by Bosco55David
You can generally "reaffirm" things like home and auto loans, so you don't lose the collateral and the bank still gets paid.
Your brain dead reply...
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Originally Posted by annerk
Not always. In a chapter seven it depends on teh amount of equity in the secured property. Creditors can (and do) force the sale of homes and sometimes even cars in a chapter 7 when there is significant equity. I used to be a BK paralegal, I've seen it happen.
You also aren't addressing other things like credit cards, which will be wiped with the medical debt. You can't "reaffirm" unsecured debt. You can't pick and choose.
My "duh" response...
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Originally Posted by Bosco55David
Hence that word "generally". You know, the one that means "not always".
Yeah, and?
You go off on some straw man tangent...
Quote:
Originally Posted by annerk
So you think it's OK to hide debt from a potential creditor then stick it up their ying yang when you can't pay your bills and file BK and make that debt go away? If so, you are one of the biggest things wrong with this country these days--an utter and total lack of personal responsibility.
Me telling you that you've basically walked right off the proverbial map.
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Originally Posted by Bosco55David
I don't know what the hell you're talking about, and honestly, I don't think YOU know either. I never mentioned anything about hiding anything from anyone.
You claim otherwise...
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Originally Posted by annerk
I know exactly what I'm talking about.
Me offering you a chance to not look like a fool again...
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Originally Posted by Bosco55David
Then by all means, explain.
You slapping my hand away, calling my intelligence into question and ensuring that the internet ass kicking you're receiving is justified...
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Originally Posted by annerk
Explain what? I've already stated FACT. Maybe you need to go re-learn reading comprehension.
Call me crazy but there sure isn't a whole lot of "fact" in your statements. Perhaps YOU should go learn what facts are? In the meantime, let me translate this conversation from debatese to common speak.
Quote:
Me: *clarifying statement made to another poster in very general terms*
You: "I need to look like a know-it-all so I'm going to try to make you look stupid by attempting to shoot down your general comments with more specific focused examples, then I'll proceed to make you look like the bad guy with my straw man statements.
Me: "Nice try, but you failed miserably. Next time you might want to bring your "A game" if you're going to call me out.
You: "Oh ****! That didn't go the way I wanted. Well, I've committed to this stance so I'll just have to continue with the straw man and put myself up on the moral high horse at the same time."
Me: "You're a friggin' idiot."
You: "NO I'M NOT!"
Me: "Ok, well here's another chance to make your point. Do it right this time."
You: "**** you, *******! I'll just call you an idiot and say you can't read."
Me: "I gave you a chance to play nice, now I'm going to destroy you."
I think I've pretty much covered it. Let this serve as a lesson to you.
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