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#1
07-22-2005, 05:29 PM
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Discharge??What is the name of your state?What is the name of your state?What is the name of your state? CA I have written on here before asking for advice and some gave me some great advice, however I now have another problem. I received in the mail two days ago a discharge that was filed on July 14, 2005. However my attorney says that even though my debt has been discharged I have to get a loan and pay $36,500.00 to the trustee. So that he can pay off all the creditors. Plus give him his cut of $8,500.00. I filed for bankruptcy, trustee said he was going to sell my house. I tried to get a loan all over however they kept asking for a dismissal saying that I would incumber all the debt. My attorney said that was impossible. Now I have this discharge which is basically worthless to me, and have a bankruptcy on my record, but still have to pay all the creditors....and is that a fair amount for a trustee??? Does this sound real to anyone? This has been a nightmare that I can not seem to wake up from...thank you in advance it is a chapter 7. |
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#2
07-22-2005, 05:37 PM
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| Is that 36,500 meant to SAVE your house from sale by the Trustee ?? If so, its called REDEEMING your home and yes, you DO have to pay it or your discharge will be revoked. Trustee's work for THE CREDITORS, its their job to get whatever they can out of the estate and divide that between your creditors. Sounds like you had way too much equity in your home. What was the TOTAL of all your unsecured debt in your bankruptcy ?? As for the Trustee's 'cut' that's the way it works. These guys/gals get paid a lousy $60 for a bankruptcy, when they find assets to liquidate, that is the ONLY time they get any percentage. Quote:
Encumber all your debt ?? That makes no sense, can you clarify ??
__________________ "Knowledge is Power - use it as you see fit ! I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice. |
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#3
07-22-2005, 06:02 PM
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| Possible loan companies kept asking me to get a dismissal, and my debt was $28,900. And yeah I found out the hard way that I had way too much equity...but thanks for you info it makes sense to me...thank you |
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#4
07-22-2005, 06:04 PM
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paid debts?CA Even after the debts are paid do I still go down as a bankruptcy?? because I filed and got a discharge? |
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#5
07-22-2005, 06:10 PM
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| Unfortunately, yes. Just the fact that you filed at all goes on your credit reports. Even if it had been dismissed, you'd still be stuck with it.
__________________ "Knowledge is Power - use it as you see fit ! I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice. |
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