Odd… but it must be most of the bankruptcy paperwork has slowed down, and most creditors have reported changes to the credit reporting agencies. Neither one of us has had any activity on our credit reports or scores for a few weeks now.
Archive for December, 2008
No credit score changes
Sunday, December 21st, 2008Bankruptcy Trustees objection to amended exemptions
Wednesday, December 17th, 2008Un-frickin’ Believable! The trustee has objected to our amended “Schedule C” which are the allowed exemptions. She based this due to the stock I referenced in previous posts is only in my wifes name… so SHE (my wife) is only entitled to $5k worth of the exemptions. That means we will need to file a 3rd Schedule C amendment, and I will get to choose some personal property to keep.
However, we have not yet seen an appraisal, so I’m not sure what to keep. The lawyer suggested maybe one of the cars, however I don’t want to waste an exemption based on way inflated values the trustee claims they are worth.
Merry Christmas to us. Bah-humbug.
Bankruptcy personal property appraisal today
Thursday, December 11th, 2008Today the appraiser came out to our house. Oddly, she was one of my customers from my business. We walked the house, she quickly opened some drawers, closets and cupboards. She took picktures of most of the furniture (Even commented the couches were worthless in their condiditon)
We talked about some peoples assumptions, many think she is going to take their property that day, others think they come and have an on-site auction.
Basically what she told me, is at least in our district is the property is sold via online auction. People bid on the items by photo, sight unseen. If they get it, we are called to arrainge a time for pick-up. This seems like a pain in the A**.
Another piece of interesting info is she stated our trustee kept her busy every week… (yes I said every week) That means virtually most cases that she gets, she must request appraisals, etc. What a Bit*h. Do I sound bitter?
Filing new bankruptcy schedule B and C
Monday, December 8th, 2008We went into our bankruptcy lawyers office today to sign the amended schedules he needs to submit. I feel horrible. My wife was crying as she is very sentimental about the stock we found out about. I spoke about this in this post We are going to amend “Schedule B” which is our personal property.
We also are changing “Schedule C” which is persoanal property exemptions. I agreed with my wife, since I caused this whole mess with my business, that we would surrender EVERYTHING and claim our whole $10K exemption as the stock. We’ll give up the cars, all our stuff, and we already knew the house is getting surrendered.
Talk about a fresh start. We will have nothing but the clothes on our backs, and our pets. I hope I can get some business stuff sold, so I can find a job. At this point I am still concentrating on selling many of the assets of the company, so I can get it out of my garage!
Wifes credit score had an increase
Saturday, December 6th, 2008There have been no changes in my score the last couple weeks, but today my wifes credit score increased from a 549 to a 551. Only 2 points. This was from a lower balance being reported on the car loan… od that my score didn’t increase too.