Author Topic: BK7 and the Power of the Stay  (Read 803 times)

0 Members and 1 Guest are viewing this topic.

bmcinto01

  • Valued Member
  • Posts: 619
BK7 and the Power of the Stay
« on: April 23, 2014 11:27:59 AM »
My wife had 2 JDBs after her, who paid the AAA fees (alleged debt about 30k total). We decided that filing a Po Se BK was a much quicker, easier, less expensive route for her to go, long story short.

Although you can fax a petition to the court, she opted to drop it off, with the filing fee. At 10:30 the clerk accepted the petiton. At 11:30 the file was in PACER with a case number. The case was assigned to a trustee and a judge. In addition, the 341 hearing was also set. We sent the notice to AAA shortly afterward.

At 3 pm, AAA adjourned the cases.

Late May she has the 341 hearing. She should get the discharge by July. I expect the case will be closed by fall. No more appeals, motions, hearings, etc from the JDBs or us. The endless litigation is over.
Pro Se BK7 Discharged. MTC ARB 2-0. MSJ 1-1.

I am a debtor. Nothing I can do will ever change that. When confronted by a creditor in a court of law or Arbitration forum, I will exhaust all legal and contractual means to protect family and property. I will never act in bad faith or attempt fraud to escape an alleged debt. My defensive or offensive strategies will always be based on my intent and belief in doing what is right and fair.

BK7 Essay: http://www.debtorboards.com/index.php/topic,26562

trueq

  • Valued Member
  • Posts: 5269
Re: BK7 and the Power of the Stay
« Reply #1 on: April 23, 2014 06:03:18 PM »
As long as you can do a Ch.7 with no loss of assets, and will not be booted to a Ch.13, that is always a good way to go to get rid of the creditors.

My challenge to doing a Ch. 7 was loss of assets,   (probably well over 200K in real estate equity).

The other challenge is:  not being swept into a ch.13 which is a fate worse than fighting and losing many times.

If you avoided both those issues, excellent job!
My free speech is not legal advice.  If you need legal advice, you need to talk to a lawyer.

Litigation Defense record
Arbitration record:   9 wins * 0 loses
Court Record:         2 wins * 2 judgments (1 of the 2 judgments has been vacated, other judgment upheld on appeal, marked "satisfied", because I wrote a check.)

The one bank that beat me in court, I now have a $2200 limit credit card from them again.
Redemption is always possible.

bmcinto01

  • Valued Member
  • Posts: 619
Re: BK7 and the Power of the Stay
« Reply #2 on: April 23, 2014 06:41:46 PM »
As long as you can do a Ch.7 with no loss of assets, and will not be booted to a Ch.13, that is always a good way to go to get rid of the creditors.

My challenge to doing a Ch. 7 was loss of assets,   (probably well over 200K in real estate equity).

The other challenge is:  not being swept into a ch.13 which is a fate worse than fighting and losing many times.

If you avoided both those issues, excellent job!


Based on how mine went, hers will not be an issue either. I filed 18 months ago and she didn't want any part of it back then. (our debts were individual). Now after a couple lawsuits, she's warmed up to the idea.

IMHO: Passing the means test and being under allowable exemptions make BK7 possible. Some folks do not have that option. Some are judgment proof. Some folks will fight it out. My intention here was to illustrate how quickly a BK7 will end a lawsuit, should someone decide to file.

It's maybe not as simple as it sounds. It is nice to have a good idea of what to expect.
Pro Se BK7 Discharged. MTC ARB 2-0. MSJ 1-1.

I am a debtor. Nothing I can do will ever change that. When confronted by a creditor in a court of law or Arbitration forum, I will exhaust all legal and contractual means to protect family and property. I will never act in bad faith or attempt fraud to escape an alleged debt. My defensive or offensive strategies will always be based on my intent and belief in doing what is right and fair.

BK7 Essay: http://www.debtorboards.com/index.php/topic,26562

siskelsghost

  • Valued Member
  • Posts: 856
  • Marcia! Marcia! Marcia!
Re: BK7 and the Power of the Stay
« Reply #3 on: April 23, 2014 07:13:31 PM »
Good luck on your fresh start!