After reading these boards.......

Re: Re: Re: After reading these boards.......

Why on earth would you run to a BK court just because you got sued?

 

Re: Re: Re: After reading these boards.......

As I'm sure you know, your student loans cannot be discharegd in BK. As for the rest of your debt, why not wait out the SOL period? If you get sued, filing the BK will stay all collection. This will prevent a judgment from ever being rendered in the matter. Once a debt is reduced to judgment, a creditor has a whole host of additional available remedies to collect.

If you have any secured debt (car loans, mortgages) you can protect your property from being attached or repossed.

My point is that if you are not being sued, why file BK? You can use the options available on this board and try and run out the SOL.

As for waking the sleeping giant, I have no idea how big your debts are. There is always the possibility that they will sue you but then again, what have you lost if you were contemplating BK anyway?

As for why you would file BK if you were sued, remember that you will need to do so to protect any secured assetts from being reposessed. A civil judgment will allow the creditor to garnish your wages or have the sheriif seize property (even unsecured property) to satisfy the debt. In order to prevent these things from occuring, one can file a BK.

Paul Early
Attorney at Law

 

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Yes, I am aware that such is true. I am also aware that there are other ways to get the job done too.

I can think of several reasons not to wait.

And an effective debt elimination process can get the same thing done.

I could care less if one is rendered or not

And a knowledgeable debtor has a whole host of remedies for eliminating void judgments.

It is claimed that such may be true. I have just about zero knowledge of bankruptcy and what can or cannot be done.

I can agree with that

Well, I guess we learn something new every day. Maybe this day will be no exception if you can point me to just one strategy or option on this board that will prevent a knowledgeable and determined creditor or collector from collecting a debt.

I must hasten to admit that validation will do it sometimes and that estoppel will do it sometimes but once it goes beyond that point with no success I have found nothing at all that will get the job done short of filing suit on the collector and for the vast majority of viewers that is not useful for the simple reason that even though they may be able to overcome their fear they still would not have the knowledge to prepare a viable case and file it and in a great number of cases do not have the funds to seek competent legal counsel to do it for them. Nor would they have the foggiest idea whether or not their judgment is void or what to do about it if they did know.

To the best of my knowledge and belief there is not one single solitary board or website on the net that has sufficient information to provide the information one would need to do any of that and if there was it probably would not be long before the poster of such information would get called on the carpet for illegal practice of law by some state or other.

I have just one student loan that I have been battling since 1988 and may or may not be able to see the end of the road yet.

Not a shot.

Under all normal situations that would be true.

While I understand what you are saying I'm afraid that your statement is patently untrue unless you are talking about IRS liens and apparently now may include student loans. With those exceptions no judgment in and of itself has the power to allow the taking of anything. In most states that is accomplished through garnishment hearings which must come after judgment.

In most cases that is quite true.

 

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In my personal opinion those are about the worst choice you could possibly make.

Quite true. But were I you I would plan it so I didn't lose all of them. Pick a couple you can keep in good standing and then dump the rest.

 

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It really makes no silly difference what I am for or against. That isn't the point. The point is what you can or can't do and what is best for you. Everything else is totally irrelevant.

That is the most important, isn't it? You cannot do that which is impossible for you.

What difference does that make? Either you can pay them or you cannot. That is all that is important. If you had the money you would do what is morally right and pay them. We all understood that from the git-go.

That has absolutely nothing to do with it either.[/quote] and I see no way that I can clear them short of BK or negotiation......[/quote]I tend to think that you have convinced yourself of that and so have closed your eyes to other possibilities.

Cheaper than trying to do the impossible and much better than doing the that which is likely to hurt you as much or more than help you in the long run.

 

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MrBreeze,

Beware the sock draw... what I mean is when your sock draw creditors run an update on your credit and see a lot of defaults it is common for them to think they will be next and cancel you. If they cancel you with a balance then they know they will be next.

It will cost you some interest, but it gives you some leverage.

This is because so many banks got blindsided over the years by not keeping tabs on their customers.

 

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have fun and best wishes Mrbreeze

 

Simply because you have a moral obligation to repay what you have borrowed. I understand that one of the BK plans does have a repayment plan, but many go for the one that just erases liability completely. This puts the burden back on everyone else because to recoup the lost funds, companies raise rates and prices, etc.

For those who are religious:

Prov 3:27 TLB : "Don't withhold repayment of your debts. Don't say "some other time" if you can pay now"

 

Ahhhh Yes, Morals and the bible are deep subjects indeed. You quoted Proverbs 22:7 but what about Proverbs 22:17 where it says that He that oppresseth the poor to increase his riches, and he that giveth to the rich, shall surely come to want? Jesus wasn't too happy with either the borrower nor the lender, was he? And further in Proverbs it is also advised "If thou hast nothing to pay, why should he take away thy bed from under thee?"

All our law is based in the teachings of the bible and has evolved over the centuries until it is what it is today. And just as we err in law when we take the law out of the context in which it has it's roots we also err when we take biblical verses out of the biblical context in which they are couched and fling them about like so many barbs with which to prick the soul of our fellow man, attempting to tell him how we think he should live and conduct his business, usually forgetting one lesson after the other including the one which said "Judge not lest ye be judged."

Now go ye and sin no more.

 

Re: Re: After reading these boards.......

-lol- Yes they are.

I must admit I pulled that not directly from the Bible, but from Larry Burkett's book "Dollars and Sense - What the Bible Says About You and Your Money" That would be why I don't have the surrounding verses

I found Mr Burkett's interpretations interesting: "No man who is financially bound can be spiritually free. Christians who are trapped by borrowing have violated one or more of the scriptural principals God has given"

We also should not forget that the Bible itself was compiled with a great deal of input from the religious leaders at that time and I believe that their motives show through in the teachings as well.

Bibical reference aside, I do think it is very important to repay what you rightfully owe if you possibly can. And when someone is trying to consciously decide whether to pay their debt or default on it, I want to encourage repayment.

 

Re: Re: After reading these boards.......

I would probably feel the same way if it were not for the fact of the scurrilous tactics empleyed by the collectors and creditors.

One such pious collector I know of has a website with a message board. He palms himself off on the board as Rev. So & So, whatever his name is and spouts off all the religious stuff he can think of to those who frequent his message board. Most of them are women who are crying in their beer looking for consolation and help and there he is telling them what sinners they are for not paying their bills and what great benefits and blessings the Lord will grant them once they pay what they owe. It's enough to make a decent human being lose his supper.

Might not be so bad if the scurrilous louse would just admit the truth which is that he is nothing but a bill collector.