Jeff Mathias Law Office

Financial Management (Post-Filing) Class

2008-06-25T13:16:00.000-07:00

This is the second and last required certificate. You can either use - CRICKET again or this newer site that offers the Debtor Education for $11 either Joint or Single.

If they ask you for an ATTORNEY CODE, that is for attorneys who charge you for the class, I don't do that so there is no attorney code, LEAVE IT BLANK.

Beware-Be prepared to multi task while completing the course. So you finish a section successfully but then they want you to wait until you have spent enough time before doing the next section.

Please forward your certificate to me VIA EMAIL, NO FAX once you get it. When I get it I will email you back. If it takes me a few days to respond it is because I am getting a lot at once. If you are not sure I got it, wait 3-4 days and re-send a copy.

*PLEASE complete this class within 10 days of Jeff's notice to you of Hearing and Case #. The Court will dismiss your case if you do not handle this promptly. Thanks!

If you review this site as time allows it will address questions/concerns that may come up throughout your case. Thanks! -Jeff

Hearing Location and What to Expect

2007-08-15T12:59:00.000-07:00

Hearings are held at:
Federal Building
210 Walnut, Room 783
(2nd and Walnut)
Des Moines, IA 50309

There is a map to the Federal Building in the file folder Jeff gave you at the office meeting.
Federal Building Links & Maps
Des Bankruptcy Court Official Site
Mapquest: Mapquest Map to Federal Building
Downtown Map: Des Moines Downtown Map with Federal Building indicated

HEARING VIDEO

Iowa Bankruptcy Court/Des Moines Location

Parking- You may find it easiest to park on a meter on 2nd Street or Walnut. Beware the meters marked No Parking before 9am or after 4pm. If you are close to these times do not park there. Or you can park in any of the downtown garages on the Skywalk and walk to the Federal Building. If you park on the Skywalk, you will enter the Federal Building on the 2nd Floor.

What happens at he Hearing?
Hearings are held Monday through Friday starting as early as 8am or as late as 4pm. Your actual hearing will normally take less than five minutes but you don't know when you will be called within your hour but you will normally be called within an hour.

*Be 30 minutes early (this allows time to find parking, find the building, get through security, find the room etc.) If you do not come to downtown Des Moines often you will be surprised at how long all this takes.

There is a Cafeteria one floor down on the 6th Floor if you are especially early and would like to relax before arriving at the hearing room 30 minutes ahead of your time. Jeff will look for you in the hearing room.

*Bring:
__Photo ID
__Social Security Card or W2/Tax Return to prove your Social Security Number
__Most recent wage statement from work
__Most recent statement on each bank account

You will see everything from jeans to suits, so just wear whatever you are comfortable in.

The hearing room is on the 7th floor. The first room you enter will be the waiting room. You can wait there for Jeff or go on in the hearing room and listen to some other hearings if you want to get a feel for what to expect. Jeff will normally arrive 10-15 minutes before the hearing, give you a copy of your petition to review while you wait, make sure you have your photo ID, proof of social security number, bank and wage statements and have your sign a form that says you did take the financial management class.

The trustee (an attorney appointed by the Court to administer your case) will swear you in, ask you if you listed all your property, listed all your debts and similar questions. Jeff will be sitting next to you to protect your rights.

*The contract you signed & got a copy of (see the folder Jeff gave you) is a Written Fee Agreement.

After your hearing you can boogie. No need to wait and talk to Jeff. We usually have several hearings together. Email if you have questions.

Bank Requests for Reaffirmation Agreements

2007-05-10T14:56:00.000-07:00

A reaffirmation is a new contract that re-establishes your liability for a debt. Prior to the 2005 changes to the bankruptcy law many debtors reaffirmed mortgage and car loans. The new law makes most debtors ineligible for reaffirmation, especially if your monthly expenses are higher than your income or the property you are seeking to reaffirm has no equity. Several of my clients have tried to get Court approval for reaffirmations under these circumstances without success. Our Judge just does not sign them in most cases. Instead, you just keep making payments and the banks accept those payments.

So if your bank tells you they sent Jeff a reaffirmation agreement and want it returned, that may be true but Judge Jackwig will not approve it so just continue to make your payments. If for some reason you cannot make your house payment or car payment in the future you should be able to just surrender and avoid a lawsuit, collections, judgments, liens, and garnishment of your bank accounts and wages all because you did not reaffirm. Ironically, this part of the new bankruptcy law is better for clients by keeping them from reaffirming debt and causing problems in the future.

VIDEO RE. REAFFIRMATION AGREEMENTS

Forms you may receive during your Bankruptcy

2007-04-30T11:15:00.000-07:00

Note: Virtually all of the mail you receive during your bankruptcy is from the Clerk of Court. Their computer spits out a constant stream of "stuff" that documents compliance with the complex rules of the bankruptcy code. These mailings will show my office as the return address because the Clerk of Court could not handle the volume of returns otherwise. So if you have a question about a document that appears to be from my office you will need to tell me what the document is titled since I did not actually send it out. I receive them electronically but promptly delete most permanently from my Gmail, otherwise my storage space would be overflowing. But the following should answer most of your questions.

Form: Notice of Chapter 7 Bankruptcy Case, Meeting of Creditors, & Deadlines
What it Means: Provides dates & time for your hearing

Form: Order Regarding Duties of Debtors(s) and Notice Regarding Failure to Abide by This Order
What in Means: We have done these things already so you don’t need to respond to this.

Form: Report of Abandonment
What it Means: The trustee does not want the listed property, you get to keep it.

Form: Motion for Relief from Stay
What it Means: Normally filed by mortgage or car lenders when you are surrendering. If you receive a Motion for Relief on property you intend to keep, email Jeff. Normally keeping up payments is sufficient to keep these assets.

Form: Bar Date Notice
What it Means: Tells parties how long they have to object to a repossession, foreclosure or other action a party is taking. Jeff will let you know if you ever need to react to a Bar Date Notice, normally you do not.

Form: Report of No Distribution
This is good! This means you will not lose any property, you have a "no asset" case.

Form: Discharge
What it Means: You are no longer responsible for the dischargeable debt. You do still need to comply with any trustee requests like copies of tax returns to avoid revocation.

If you are interested, you can register and log on to the court site and review your case electronically as you go. They charge you .08 cents/page to view documents online. You will receive copies of the same filings by mail.

Common Post-Discharge Issues

2007-03-29T13:28:00.000-07:00

A creditor did not get Notice! - All bankruptcy petitions are filed electronically. The bankruptcy noticing service automatically spits out a notice to each and every creditor listed on your petition. The system is totally automated. The only opportunity to drop the ball is if the creditor is not listed in the first place. Hence, claims from creditors that they were never notified of the bankruptcy usually reflect poor or no internal communications within the creditor company. You can be quite certain that all your listed creditors received written notice.

Still Getting Bills- If you are still getting bills more than 60 days after filing, forward the bills by scan/email, drop off (Monday-Friday from 8am to 5pm, even if Jeff is out of the office you can leave it with the receptionist in Ste. 205), or U.S. Mail to Jeff. No Faxes Please. We can get those stopped. We get nowhere when we call creditors by phone but if we send them a letter with a copy of the bill it seems to work. Make sure any bills you forward us are for pre-filing debt. We often get medical bills from clients that are for post-filing care which is not discharged.

Credit Report Problems- Credit report errors are very common. Although consumers tend to think the credit report is the last word, it is not. In some cases, creditors knowingly leave debt on credit reports post-discharge. They know it is difficult or impossible to remedy as a bankruptcy law violation and they hope some consumers will pay the discharged debt to avoid hassles with new credit. If your credit report is not accurate after discharge you may want to give it 90 days or so to update. After that you can contact NCBLC. NCBLC is a firm in Chicago that specializes in getting credit reports fixed at no cost to you via the Fair Credit Reporting Act. Tell them I was your bankruptcy attorney if you contact them.

10-99's from Creditors - Creditors can issue 10-99's to people for whom they write off debt or who discharge debt in bankruptcy. Under IRS rules if you file bankruptcy the discharge is not a taxable event to you. So if you receive a 10-99 from a creditor, don't worry, you are not required to pay taxes on that; so long as you did file bankruptcy.

Voluntary Surrender Agreements- If you are surrendering your home, car or other property, do not under any circumstances sign a voluntary surrender agreement. In some cases these agreements compromise your bankruptcy rights and create new liabilities for you.

Need Copies of Papers- Try to keep your copy of the petition and discharge. If you need copies later you can email Jeff and we should be able to email or mail out copies. You can also get copies online at Pacer.

Oh no! I'm broke again! - If you have another financial emergency, try to make sure it is at least 8 years after your prior case. That is when you can re-file Chapter 7.

After Bankruptcy

2007-01-29T11:09:00.000-08:00

Jeff's After Bankruptcy Tips

Live on Cash- If you can, swear off credit cards and live on cash. I use my debit card for internet and travel. It can be a hassle sometimes but life without credit card bills is much better.

Be realistic about Home Purchase- Unless you are in an inflationary real estate market it is often more economical to rent than to own. Mortgage interest, broker & closing fees, title insurance, taxes, homeowners insurance, maintenance and repairs etc. etc. add a lot to the cost of housing when we buy. I have owned several homes and have been a landlord and renter and I am convinced that in a non-inflationary market it is better to rent, which I do.

Let the Guilt go. Guilt is something we choose. And it is a totally negative emotion, it accomplishes nothing. Try to trade feelings of guilt for determination. Each time you feel guilty about having to file bankruptcy, just make one determined decision; "I will pay my electric bill as soon as it comes in the mail", "We will make pizza together as a family Saturday instead of eating out". When we take action to resolve our guilt we feel better.

Take pride in being a Cheap Bastard- With each purchase try to figure out if there is a way to avoid it. Before you go through the check out at Target drop the things you don't really need. They can re-shelve.

-If you still have a house or car payment, make it early or on-time every time.

-Avoid credit card offers and use your debit card instead.

-Maintain steady employment. If you are going to leave your job, have another lined up first.

-Talk to your kids about budgets and spending. If you are on vacation tell them how much your budget is for the day and let them help decide whether to play miniature golf or go to a movie so they can realize you are not a money tree & learn how to plan their own spending.

Finally, just remind yourself once in a while that we are only talking about money. After 10 years as a cop I can tell you if I lost everything and had to start from scratch, that would seem like no big deal compared to the people I saw lose loved ones, lose their children, go to prison for life because of a horrible mistake etc. Plus we have a very forgiving culture. We have the most efficient economy in the world in part because it is ok to fail and start fresh. Redemption is a big American value. We can always make more money!

VIDEO- CREDIT AFTER BANKRUPTCY

Credit After Bankruptcy

Jeff,

"My wife and I would like to thank you for the service that you provided us. We just recieved our discharge letter in the mail this afternoon and what feeling it is to have that burden lifted off of our shoulders that we carried for the last couple years! Thanks again for all your help and time that you provided to us and wish you the best!"

Sincerely,

Ben

Comments or Questions?

2007-01-14T21:34:00.000-08:00

Please forward comments/criticism/suggestions! We want to get better!
Email Feedback/Questions to Jeff Mathias
Jeff's Iowa Bankruptcy/Des Moines Site or Jeff's Iowa Attorneys.

Daylight
I must wait for the sunrise
I must think of a new life
And I musn't give in
When the dawn comes
Tonight will be a memory too
And a new day will begin
-from Cats, the musical