Re: calling people morons Yes, that was a zinger (half jokingly, half serious). You claim in your last thread that we need to stop accusing people of trolling and be civil to one another, but were you not the one that blamed an innocent newbie the other night of being a troll - Jude60. You accused him in front of everyone with no actual proof to your claim. If he was a troll he would have been found out eventually. Instead, you accused an innocent person of being guilty. By the way, my sugar intake is just fine, thank you. Dani
Re: calling people morons Touchdown, I am listing below the federal exemptions for bankruptcy. Michigan is an "opt in" state which means you can choose the federal or the michigan exemptions. As the federal exemptions are considerably more generous I listed them for your info: Title 11 U.S.C. Section 522 Married couples double the amount of the following federal exemptions: Homestead â?¢ Real property, including co-op or mobile home, to $17,450; unused portion of homestead to $8,725 may be applied to any property; Life insurance payments for person you depended on, needed for support; Life insurance policy with loan value, in accrued dividends or interest to $9,300; Unmatured life insurance contract, except credit insurance policy; Alimony, child support needed for support; Pensions and Retirement Benefits â?¢ ERISA - qualified benefits needed for support; Household goods and furnishings $9,300 total; Health Aids; Jewelry to $1,150; Lost earnings payments; Motor vehicle to $2,775; Personal injury compensation payments to $17,425; Wrongful death payments; Crime victims' compensation; Public assistance; Social Security; Unemployment compensation; Veterans' benefits; Tools of trade - books and equipment to $1,750; Wild Card â?¢ $925 of any property plus up to $8,725 of any amount of unused homestead exemption. As you can see the homestead exemption for a married couple filing jointly is $34,900. That number refers to the equity you have in your home and not the appraised or listed value. Any excess dollars that you don't need to apply for your equity in your home can be applied to other property up to $8,725. Your motor vehicle exemption is $5,550 which would probably cover your Honda...your GMAC loan could easily be reaffirmed as it has no equity and is actually "upside down" so it wouln't even be considered an asset. So given those exemptions you could file for a 7...be done with it in 4-6 months and could start credit building the second after your discharge. I have known people who 2 years after discharge are living in expensive homes and driving very nice vehicles...so don't think that the 10 years on your CRAs means you can't get credit. In fact many creditors who know you can't file again for 6 years will fall all over themselves to give you credit. Also if there is a card that is paid up...you don't even have to mention them in your bk and more than likely you will be able to keep that card. So take all the info you have gotten on this thread and make the best decision based on YOUR set of facts. It is all well and good to advise paying off your debt....but if the payoff isn't possible for 10 years and you end up paying a usurious amount of interest...I think it is foolish...bk and pay the cc interest to your daughter's college fund instead of Greedy National Bank visa...This would be a financially smarter move than the former in my honest opinion. clc
Re: calling people morons Dani, I was not the only one that accused jude60 of being a troll...his silence since that accusation speaks volumes to me. Given his innacurate and contradictory posts I stand by my accusation. If you can prove he/she is not a troll...have at it...until I see some proof to the contradictory I stand by my accusation as accurate. clc
