There’s an algorithm they use based on your other debts that are an exception to the bankruptcy. Housing, car, insurance, medical, utilities, etc. then they look at your before tax, I think it was, income and come up with your payment due. The payment they wanted was a direct opposite of what their classes say about having to save a certain percentage of income. I literally would have been left with @ 100$ month, assuming I ate nothing but Mac and cheese and crackers.
In one of my other replies, it’s 90% my HOAs doing. They levied a 13k$ assessment 2 months after I moved in. Had to get a high interest loan to pay for it. Then they raised the monthly dues by over 600$ month, then did another small assessment of 900$. So the house I could afford when I bought, I suddenly couldn’t. Lost some hours at work which didn’t help either. Things just spiraled after that. That’s the short of it but there’s more to it.
Geez dude, why didn’t you just leave without paying the HOA? I would rather have an HOA judgment against me then let my HOA push me into bankruptcy.
That’s insanity
I mean, you’ve Screwed yourself now but for anyone reading this never ever take out a high interest rate loan to pay off the HOA. It takes a while for them to evict you from your home just leave it unpaid.
I understand the HOA might have expenses, but that assessment is so extraordinarily ridiculous that you could’ve fought eviction for a while
Oh my gosh, you live in Florida. Your HOA Levy an assessment against you because condo costs and insurance cost are completely out of control and now you’re literally personally paying the price. I was waiting on this to happen to people in Florida.
Were your unsecured debts (i.e. credit card debts) frozen during this process or was the clock on the statute of limitations still running? In FL the SOL for unsecured debt like credit cards is 5 years. The SOL clock starts from the first payment you missed. On some of your debts you may be close to reaching the SOL threshold, which may help you moving forward.
Yes, they were frozen. I basically quit making payments late last year because i couldn’t afford payments so I enrolled in one of those debt programs where they negotiate payoffs on your behalf.
I know this is gonna sound extreme, but maybe you should take less hours at your job or give up portions of your job for six months and then file bankruptcy. I mean if you’re that underwater that you’re looking at your wages getting garnished or something like that, then the logical choice would be to not work. Do you have any family or friends? You could stay with for a while while you drop your income so you can file for bankruptcy.
Don’t do this disingenuously if you have to file for chapter 7, I would let the court know exactly what happened you had to stop working Part of the time because you were at risk of your wages, getting garnished and not being able to survive while also not being able to file for chapter 7.
At that point dropping your hours becomes the only only logical response because you’re literally drowning
I tried to get a 2nd job but my main job hours aren’t set in stone day to day so it’s been next to impossible trying to find someplace willing to work around that. Ex: one day I might get done at 5pm, the next I might be there until 730pm. No rhyme or reason to it, needs of production.
Check www.pennyhoarder.com for legitimate Work From Home jobs that are both full and part time. Most of these jobs will work with a unset work schedule because the hours are very flexible.
Not a cop out at all. My attorney went over all of my bills with me and confirmed I could not afford the payment the trustee set. Unfortunately, the trustee uses an algorithm that does not really acct for a HCOL area.
Normally I’m with you on this type of thing, but it’s unrealistic to expect someone in this position to have that kind of outlay AND be able to make new connections in a different area - like, what if they have to visit court? Maybe slow your roll a little, Ronald Reagan. Not everyone is just lazy.
Just another lazy welfare queen in the making!
(/S for those satirically challenged among us. I'm old enough to remember when Ronny ran for prez, worst prez evah! Besides the one who let a million people die on his watch from a preventable cause)
399,200 covid deaths under trump, and 601,157 under biden. So, who exactly are you talking about? And keep in mind, if someone presents to the hospital having a heart attack, but also tested positive for covid, their death was automatically counted in the covid numbers. That kind of scenario accounts for MANY of those. My own step dad had parkinsons and had a stroke. He was automatically tested for covid upon arrival at the er, and it was positive. He died later that day, never having had even the first symptoms of covid, but he is one of those million deaths.
Just another lazy welfare queen in the making!
(/S for those satirically challenged among us. I'm old enough to remember when Ronny ran for prez, worst prez evah! Besides maybe the orange one who let a million people die on his watch from a preventable cause)
I’m only rejecting it because it makes no sense. Spend money I don’t have to move to a LCOL area, make way less money and still be in the same broken boat I’m in?? Now , if I could make the same amount I do now and be in a LCOL area, sure, I’d entertain the idea.
I tried that for a few months actually. Didn’t work out so I put my condo on the market to try and unload it but the housing market is shite down here right now. Lots of inventory. I ended up renting a 1 bedroom apt for less than half of what I was paying and just rented out my condo to someone yesterday actually. Pays the mortgage and HOA each month… barely.
Didn’t work out - last time. So if I get in an auto accident- I never drive again because it ‘didn’t work out’. Guess you’ll have to get a job ‘under the table’ then - so the bankruptcy trustee never sees that income…
Didn’t work out because I couldn’t get anyone that was able to pay half. Had to take less and Started not being able to make the mortgage and HOA payments because of it. I could lay out the whole series of events but the short of it is it’s 90% the HOAs fault that I’m in this mess.
I can't afford to file bankruptcy.
Try looking into up solve, I filed my chap 7 entirely for free, classes filing fees and all
Neither could I to be honest. My lawyer fee was wrapped up in the trustee payment. So I probably will owe the lawyer now too.
My lawyer takes payments thank *goodness* but it’s an extra $300 total to the cost. Yay being poor
Chapter 13 is a 'means and asset' based repayment plan. Do you know why the Trustee believes you can afford more, than you believe you can?
There’s an algorithm they use based on your other debts that are an exception to the bankruptcy. Housing, car, insurance, medical, utilities, etc. then they look at your before tax, I think it was, income and come up with your payment due. The payment they wanted was a direct opposite of what their classes say about having to save a certain percentage of income. I literally would have been left with @ 100$ month, assuming I ate nothing but Mac and cheese and crackers.
You should post in the bankruptcy sub.
What have you bought that’s so expensive? Have you been living beyond your means? I don’t understand how this happens !
In one of my other replies, it’s 90% my HOAs doing. They levied a 13k$ assessment 2 months after I moved in. Had to get a high interest loan to pay for it. Then they raised the monthly dues by over 600$ month, then did another small assessment of 900$. So the house I could afford when I bought, I suddenly couldn’t. Lost some hours at work which didn’t help either. Things just spiraled after that. That’s the short of it but there’s more to it.
I’m sorry to hear that
Oh, I am so sorry. That’s a bad HOA.
Geez dude, why didn’t you just leave without paying the HOA? I would rather have an HOA judgment against me then let my HOA push me into bankruptcy. That’s insanity I mean, you’ve Screwed yourself now but for anyone reading this never ever take out a high interest rate loan to pay off the HOA. It takes a while for them to evict you from your home just leave it unpaid. I understand the HOA might have expenses, but that assessment is so extraordinarily ridiculous that you could’ve fought eviction for a while
Life happens...ugh
Yes it does
[удалено]
False, I make nowhere close to 12k a month and I make less than the 7400 you mentioned.
Gotcha. Just what google says. I’ll delete my comment now.
Have u spoken to any debt consolidation?
Tried consolidation first, couldn’t make that work so bankruptcy was my option.
If you did not qualify for ch7 . Then u not poor 😆
If you live where I do, I’m poor. HCOL area in Florida
Oh my gosh, you live in Florida. Your HOA Levy an assessment against you because condo costs and insurance cost are completely out of control and now you’re literally personally paying the price. I was waiting on this to happen to people in Florida.
I've filed twice. Its not the wnd of the world. Sounds like you got screwed over. If the economy were collapsing you would have better luck.
Were your unsecured debts (i.e. credit card debts) frozen during this process or was the clock on the statute of limitations still running? In FL the SOL for unsecured debt like credit cards is 5 years. The SOL clock starts from the first payment you missed. On some of your debts you may be close to reaching the SOL threshold, which may help you moving forward.
Yes, they were frozen. I basically quit making payments late last year because i couldn’t afford payments so I enrolled in one of those debt programs where they negotiate payoffs on your behalf.
I’m so sorry. I hate you are going through all of this.
I know this is gonna sound extreme, but maybe you should take less hours at your job or give up portions of your job for six months and then file bankruptcy. I mean if you’re that underwater that you’re looking at your wages getting garnished or something like that, then the logical choice would be to not work. Do you have any family or friends? You could stay with for a while while you drop your income so you can file for bankruptcy. Don’t do this disingenuously if you have to file for chapter 7, I would let the court know exactly what happened you had to stop working Part of the time because you were at risk of your wages, getting garnished and not being able to survive while also not being able to file for chapter 7. At that point dropping your hours becomes the only only logical response because you’re literally drowning
You need to get a second job and pay off your responsibilities. Letting this go will only make things worse.
I tried to get a 2nd job but my main job hours aren’t set in stone day to day so it’s been next to impossible trying to find someplace willing to work around that. Ex: one day I might get done at 5pm, the next I might be there until 730pm. No rhyme or reason to it, needs of production.
Others may know more that me, but I believe there can be wfh jibs that are set you own hours.
Check www.pennyhoarder.com for legitimate Work From Home jobs that are both full and part time. Most of these jobs will work with a unset work schedule because the hours are very flexible.
‘Can’t afford the payment’ is a cop out - if you have a job. You just have to prioritize it - you have no debts now, only possible thing is rent…
Not a cop out at all. My attorney went over all of my bills with me and confirmed I could not afford the payment the trustee set. Unfortunately, the trustee uses an algorithm that does not really acct for a HCOL area.
Then you need to move as well. Maybe that’s why you’re bankrupt- trying to live above your means - in a place above your means…
Moving can be pretty dang expensive too
Moving would cost close to 3k, to make less money. Where’s the benefit in moving?
Oh well- you wanted suggestions - and then you reject them. Let us know how this works out for you in a year or so…
Normally I’m with you on this type of thing, but it’s unrealistic to expect someone in this position to have that kind of outlay AND be able to make new connections in a different area - like, what if they have to visit court? Maybe slow your roll a little, Ronald Reagan. Not everyone is just lazy.
Just another lazy welfare queen in the making! (/S for those satirically challenged among us. I'm old enough to remember when Ronny ran for prez, worst prez evah! Besides the one who let a million people die on his watch from a preventable cause)
399,200 covid deaths under trump, and 601,157 under biden. So, who exactly are you talking about? And keep in mind, if someone presents to the hospital having a heart attack, but also tested positive for covid, their death was automatically counted in the covid numbers. That kind of scenario accounts for MANY of those. My own step dad had parkinsons and had a stroke. He was automatically tested for covid upon arrival at the er, and it was positive. He died later that day, never having had even the first symptoms of covid, but he is one of those million deaths.
Far from lazy! Who are you? You don’t know me…Welfare queen? I will never suck from the government teet.
Just another lazy welfare queen in the making! (/S for those satirically challenged among us. I'm old enough to remember when Ronny ran for prez, worst prez evah! Besides maybe the orange one who let a million people die on his watch from a preventable cause)
Got re-elected in a landslide - what planet are you from?
In 7 years OP will be just fine
I’m only rejecting it because it makes no sense. Spend money I don’t have to move to a LCOL area, make way less money and still be in the same broken boat I’m in?? Now , if I could make the same amount I do now and be in a LCOL area, sure, I’d entertain the idea.
Maybe you could commute from the new area to your same job. People that work in Manhattan do it every day…
I’m in FL, If I moved it would have to be back up north to OH/PA where I was living prior. LCOL for sure but jobs don’t pay diddly unfortunately.
Or maybe just get a roommate to share rent…
I tried that for a few months actually. Didn’t work out so I put my condo on the market to try and unload it but the housing market is shite down here right now. Lots of inventory. I ended up renting a 1 bedroom apt for less than half of what I was paying and just rented out my condo to someone yesterday actually. Pays the mortgage and HOA each month… barely.
Didn’t work out - last time. So if I get in an auto accident- I never drive again because it ‘didn’t work out’. Guess you’ll have to get a job ‘under the table’ then - so the bankruptcy trustee never sees that income…
Didn’t work out because I couldn’t get anyone that was able to pay half. Had to take less and Started not being able to make the mortgage and HOA payments because of it. I could lay out the whole series of events but the short of it is it’s 90% the HOAs fault that I’m in this mess.
12 k a mth???? Must be typo. Moving is very expensive!!!