Comments on: Can I “Cancel” a Chapter 13 Bankruptcy if I Changed My Mind? http://www.thebklawyer.com/thebkblog/2006/10/13/can-i-cancel-a-chapter-13-bankruptcy-if-i-changed-my-mind/ Personal Bankruptcy tips and tricks moderated by Atlanta lawyer Jonathan Ginsberg Tue, 17 Jan 2012 01:57:46 +0000 hourly 1 By: Jonathanhttp://www.thebklawyer.com/thebkblog/2006/10/13/can-i-cancel-a-chapter-13-bankruptcy-if-i-changed-my-mind/#comment-18295 Jonathan Tue, 17 Jan 2012 01:36:28 +0000 http://host.jonathanginsberg.com/~thebklaw/thebkblog/?p=77#comment-18295 Angelita, you need to consult with an attorney to get specific answers to these questions. Angelita, you need to consult with an attorney to get specific answers to these questions.

]]> By: Jonathanhttp://www.thebklawyer.com/thebkblog/2006/10/13/can-i-cancel-a-chapter-13-bankruptcy-if-i-changed-my-mind/#comment-18291 Jonathan Tue, 17 Jan 2012 01:30:37 +0000 http://host.jonathanginsberg.com/~thebklaw/thebkblog/?p=77#comment-18291 Tony, usually you can dismiss your Chapter 13 (although I would strongly suggest that you discuss the implications of a dismissal with your lawyer first) but dismissing it will not remove it from the public record. Your filing will remain on your credit report for up to 10 years. The fee issue is one of contract with your lawyer - at the very least he would be entitled to the fair market value of services actually rendered. Tony, usually you can dismiss your Chapter 13 (although I would strongly suggest that you discuss the implications of a dismissal with your lawyer first) but dismissing it will not remove it from the public record. Your filing will remain on your credit report for up to 10 years. The fee issue is one of contract with your lawyer – at the very least he would be entitled to the fair market value of services actually rendered.

]]> By: Jonathanhttp://www.thebklawyer.com/thebkblog/2006/10/13/can-i-cancel-a-chapter-13-bankruptcy-if-i-changed-my-mind/#comment-18289 Jonathan Tue, 17 Jan 2012 01:25:43 +0000 http://host.jonathanginsberg.com/~thebklaw/thebkblog/?p=77#comment-18289 Nancy, I think what you need to determine is whether the bankruptcy district where you case was filed will allow plans that pay student loans directly. Some jurisdictions allow this, but require a 100% dividend to unsecured creditors, others allow it with a smaller dividend, some might allow you to set a payment of the contract payment during the term of the plan, and some don't allow it at all. If the judges in your district have already ruled that a plan provision that calls for direct payment of student loans is not allowed, then your lawyer could be advising you correctly that it cannot be done. You need to get an answer to this question. Good luck. Nancy, I think what you need to determine is whether the bankruptcy district where you case was filed will allow plans that pay student loans directly. Some jurisdictions allow this, but require a 100% dividend to unsecured creditors, others allow it with a smaller dividend, some might allow you to set a payment of the contract payment during the term of the plan, and some don’t allow it at all. If the judges in your district have already ruled that a plan provision that calls for direct payment of student loans is not allowed, then your lawyer could be advising you correctly that it cannot be done. You need to get an answer to this question. Good luck.

]]> By: Jonathanhttp://www.thebklawyer.com/thebkblog/2006/10/13/can-i-cancel-a-chapter-13-bankruptcy-if-i-changed-my-mind/#comment-18283 Jonathan Mon, 16 Jan 2012 23:56:24 +0000 http://host.jonathanginsberg.com/~thebklaw/thebkblog/?p=77#comment-18283 Karen, sometimes math and the means test determine what you have to pay the trustee in a Chapter 13. At the same time, you will find that Chapter 13 trustees will demand as much as they can for a monthly payment. This is where your lawyer comes in. If the math calculations say that your case could work at a lower trustee payment, your option may be to take this issue to the bankruptcy judge assigned to your case and let the judge decide if the trustee's demand is unreasonable. Good luck. Karen, sometimes math and the means test determine what you have to pay the trustee in a Chapter 13. At the same time, you will find that Chapter 13 trustees will demand as much as they can for a monthly payment. This is where your lawyer comes in. If the math calculations say that your case could work at a lower trustee payment, your option may be to take this issue to the bankruptcy judge assigned to your case and let the judge decide if the trustee’s demand is unreasonable. Good luck.

]]> By: Karenhttp://www.thebklawyer.com/thebkblog/2006/10/13/can-i-cancel-a-chapter-13-bankruptcy-if-i-changed-my-mind/#comment-17851 Karen Mon, 02 Jan 2012 19:10:08 +0000 http://host.jonathanginsberg.com/~thebklaw/thebkblog/?p=77#comment-17851 I am 2 years into my Chapter 13 bankruptcy filing. The Trustee has raised my monthly payments AGAIN. I've done the math and there is no way I can make those kinds of payments and still keep up with the house and car payments, food, utilities, etc. I've asked my attorney to submit an appeal or whatever and file a list of my current monthly expenses with the Trustee in an effort to get them to reconsider. If that doesn't work, what are my options? My car payments are $550 a month and I'm upside down...would it be better to just let them repossess the car? I don't know what to do...it's like the Trustee WANTS me to fail or something. I am 2 years into my Chapter 13 bankruptcy filing. The Trustee has raised my monthly payments AGAIN. I’ve done the math and there is no way I can make those kinds of payments and still keep up with the house and car payments, food, utilities, etc. I’ve asked my attorney to submit an appeal or whatever and file a list of my current monthly expenses with the Trustee in an effort to get them to reconsider. If that doesn’t work, what are my options? My car payments are $550 a month and I’m upside down…would it be better to just let them repossess the car? I don’t know what to do…it’s like the Trustee WANTS me to fail or something.

]]> By: Nancyhttp://www.thebklawyer.com/thebkblog/2006/10/13/can-i-cancel-a-chapter-13-bankruptcy-if-i-changed-my-mind/#comment-17809 Nancy Sat, 31 Dec 2011 20:51:50 +0000 http://host.jonathanginsberg.com/~thebklaw/thebkblog/?p=77#comment-17809 I am at my wits' end with our bk lawyer regarding my student loans. We are currently in chapter 13 in MT. Both loan companies have told me that my loans are on a "bankruptcy hold" until I am out of bankruptcy although they are accruing interest. Once I am out of the bankruptcy I can then begin paying off the loans. However, our lawyer has designed a repayment plan that forces us to repay ALL of the student loans within 4 years, despite the fact that these are meant to be 10 year loans. Both Direct Loans and Amercan Student Assistance have told me that I do not need to pay the loans as part of the Ch 13 repayment plan, and that it is an arrangement I need to make with the lawyer. Our lawyer has repeatedly told us that we CANNOT eliminate any creditors from the repayment plan. My husband is so frustrated he wants to dismiss our lawyer and handle the case ourselves. That scares me, but I am at a loss at how to deal with this. With the payment plan our lawyer has drawn up for us (4 yearly balloon payments of $39,000 in addition to our monthly payments) we will be forced into Ch 7. Under a Ch 7 we would be forced to sell our snowmobiles which are our only means of getting in and out of our home to get to work during the winter months, my musical instruments which I need for my work as a music teacher, sell our cars - only one of which is reliable and both are valued far higher than we could ever sell them for. We would also we forced to sell our alpaca herd - fine with that - they are eating us out of house and home, but no one is buying alpacas - we are trying to sell them anyway. Again, they are also valued far higher than we can sell them for. I almost wish we had never filed for bk. Dealing with creditors was less stressful then dealing with our lawyer. I am at my wits’ end with our bk lawyer regarding my student loans. We are currently in chapter 13 in MT. Both loan companies have told me that my loans are on a “bankruptcy hold” until I am out of bankruptcy although they are accruing interest. Once I am out of the bankruptcy I can then begin paying off the loans. However, our lawyer has designed a repayment plan that forces us to repay ALL of the student loans within 4 years, despite the fact that these are meant to be 10 year loans. Both Direct Loans and Amercan Student Assistance have told me that I do not need to pay the loans as part of the Ch 13 repayment plan, and that it is an arrangement I need to make with the lawyer. Our lawyer has repeatedly told us that we CANNOT eliminate any creditors from the repayment plan. My husband is so frustrated he wants to dismiss our lawyer and handle the case ourselves. That scares me, but I am at a loss at how to deal with this. With the payment plan our lawyer has drawn up for us (4 yearly balloon payments of $39,000 in addition to our monthly payments) we will be forced into Ch 7.

Under a Ch 7 we would be forced to sell our snowmobiles which are our only means of getting in and out of our home to get to work during the winter months, my musical instruments which I need for my work as a music teacher, sell our cars – only one of which is reliable and both are valued far higher than we could ever sell them for. We would also we forced to sell our alpaca herd – fine with that – they are eating us out of house and home, but no one is buying alpacas – we are trying to sell them anyway. Again, they are also valued far higher than we can sell them for. I almost wish we had never filed for bk. Dealing with creditors was less stressful then dealing with our lawyer.

]]> By: tonyhttp://www.thebklawyer.com/thebkblog/2006/10/13/can-i-cancel-a-chapter-13-bankruptcy-if-i-changed-my-mind/#comment-17568 tony Tue, 27 Dec 2011 03:20:51 +0000 http://host.jonathanginsberg.com/~thebklaw/thebkblog/?p=77#comment-17568 hello, i filed for chapter13 last week the petition just came through. my brother won some money and is willing to lend me 6000.00 to get my bills caught up. can i cancel my bankruptcy now? and am i still liable for his fees? will my credit rating have the bankrupcy on it? hello, i filed for chapter13 last week the petition just came through. my brother won some money and is willing to lend me 6000.00 to get my bills caught up. can i cancel my bankruptcy now? and am i still liable for his fees? will my credit rating have the bankrupcy on it?

]]> By: Angelita K.http://www.thebklawyer.com/thebkblog/2006/10/13/can-i-cancel-a-chapter-13-bankruptcy-if-i-changed-my-mind/#comment-16997 Angelita K. Sat, 10 Dec 2011 20:10:18 +0000 http://host.jonathanginsberg.com/~thebklaw/thebkblog/?p=77#comment-16997 Jonathan, I filed a chapter 13 with 100% repayment, in Nov. 09 and it was dismissed for failing to make planned payments of $6837.71 per month in Nov. 2011, per my attorney, based on my income, although I was only making a very small amount at the time, and had two units in my building that were not rented. The plan was approved, despite my apprehension because I am still continuing to pay all the bills for the building, my daughter's tuition, life insurance premiums and renovations on the building, upkeep, violations, etc. I had asked my attorney at the time of filing about the interest rate on the loans. I have three properties and have three mortgages, all of which are over the federal guidelines of what the interest rate should be. I asked him again, when he said he was going in to have the bankruptcy dismissed because I had failed to make three payments. I received the paperwork from Chase just recently for a loan modification, and when speaking to the representative on the phone she indicated that I was 8 months behind in payments? I said that was impossible. I had only missed the last three payments over the past two years. She said no, I see that you have a total of 8 missed payments. Now, I only owe $32,000.00 on this piece of property, $76,000.00 on the other, and my largest is the building I reside in which is $197,000.00. I was making very good money as an Executive Nanny prior to filing the BK, but with the economy, the family I was working for decided that a one person being at home was more conducive than paying me a salary. I have worked here and there, but not stable since then. I have everything rented and the incomes of the building coming in, but the payment has increased so many times, it has literally kept me in the dog house and on edge with ensuring that I have those payment in every month. My questions are this: Can I get a refinance from the lenders for the HEMP which they all say I am qualified and approved for at 2-3% interest rate which would cut my payments in less than half of what I was paying! And, two, can I then refile the chapter 13, with a new plan, for the new amount, after the banks sign off on the refinance papers? Jonathan,
I filed a chapter 13 with 100% repayment, in Nov. 09 and it was dismissed for failing to make planned payments of $6837.71 per month in Nov. 2011, per my attorney, based on my income, although I was only making a very small amount at the time, and had two units in my building that were not rented. The plan was approved, despite my apprehension because I am still continuing to pay all the bills for the building, my daughter’s tuition, life insurance premiums and renovations on the building, upkeep, violations, etc. I had asked my attorney at the time of filing about the interest rate on the loans. I have three properties and have three mortgages, all of which are over the federal guidelines of what the interest rate should be. I asked him again, when he said he was going in to have the bankruptcy dismissed because I had failed to make three payments. I received the paperwork from Chase just recently for a loan modification, and when speaking to the representative on the phone she indicated that I was 8 months behind in payments? I said that was impossible. I had only missed the last three payments over the past two years. She said no, I see that you have a total of 8 missed payments. Now, I only owe $32,000.00 on this piece of property, $76,000.00 on the other, and my largest is the building I reside in which is $197,000.00. I was making very good money as an Executive Nanny prior to filing the BK, but with the economy, the family I was working for decided that a one person being at home was more conducive than paying me a salary. I have worked here and there, but not stable since then. I have everything rented and the incomes of the building coming in, but the payment has increased so many times, it has literally kept me in the dog house and on edge with ensuring that I have those payment in every month. My questions are this: Can I get a refinance from the lenders for the HEMP which they all say I am qualified and approved for at 2-3% interest rate which would cut my payments in less than half of what I was paying! And, two, can I then refile the chapter 13, with a new plan, for the new amount, after the banks sign off on the refinance papers?

]]> By: Jonathanhttp://www.thebklawyer.com/thebkblog/2006/10/13/can-i-cancel-a-chapter-13-bankruptcy-if-i-changed-my-mind/#comment-15814 Jonathan Sat, 05 Nov 2011 19:53:10 +0000 http://host.jonathanginsberg.com/~thebklaw/thebkblog/?p=77#comment-15814 Bart, you could hire your own lawyer and move to separate the case into two separate cases. A joint filing is actually considered two separate cases that are administered together for convenience. You could also agree with your wife to dismiss and then each refile or you could dismiss yourself from the joint case, but there are negative implications to a second filing within 1 year of the first. At this point you need to speak to a bankruptcy lawyer different than the one who filed the joint case. Bart, you could hire your own lawyer and move to separate the case into two separate cases. A joint filing is actually considered two separate cases that are administered together for convenience. You could also agree with your wife to dismiss and then each refile or you could dismiss yourself from the joint case, but there are negative implications to a second filing within 1 year of the first. At this point you need to speak to a bankruptcy lawyer different than the one who filed the joint case.

]]> By: Barthttp://www.thebklawyer.com/thebkblog/2006/10/13/can-i-cancel-a-chapter-13-bankruptcy-if-i-changed-my-mind/#comment-15520 Bart Mon, 24 Oct 2011 16:47:36 +0000 http://host.jonathanginsberg.com/~thebklaw/thebkblog/?p=77#comment-15520 My wife and I have filed for Chapter 13 Bankruptcy (Jointly filed). Since then we have decided to divorce. We had our initial meeting today with the judge and several things came up that lead me to believe that it would be in my best interest if we both file separately. Is it possible to stop the joint filing and initiate separate filings after the divorce? My wife and I have filed for Chapter 13 Bankruptcy (Jointly filed). Since then we have decided to divorce. We had our initial meeting today with the judge and several things came up that lead me to believe that it would be in my best interest if we both file separately. Is it possible to stop the joint filing and initiate separate filings after the divorce?

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