I pray your financial situation contines to be as strong as your spirit.

Regards Trisk, with legal council they would have known what the ramifications would be to the authors before they filed but it may have been to late in the mix for Trisk to do anything about it.

Whatever happened in the end, we need to support the Authors and we need to keep in mind that in this day’s ecomony, with publishing world changing; we need to remind ourselves that there but the Grace of God, go I.

Good Bless you Paula. Linn

I honestly tried to make right by my creditors, but alas, fate is stubborn at times. Did Trisk know? If so, when? I knew it was possible six months ago, but certain I could handle it or survive it, pushed on… until I fell. Was I wrong to keep trying? Not IMO as my determination to make it right by the creditors who trusted me blinded me.

Yes, Trisk should have released their authors the instant they realized the inevitable, but the bankruptcy law has a very, very long arm … much longer than it ever was before. As it stands, the debtor can now only exempt up to eight thousand dollars of assets and no reaffirmations are allowed without the trustee assuring the debtor can handle the debt for the involved property. Yes, even if the mortgage company is willing to reaffirm, the trustee can decline such and seize the home if he fears the debtor can’t handle the bill. Fortunately, what I have equity-wise is exemptible and I can keep my home. *huge sigh* Also, my books contracts were signed well over a year ago.

My attorney did tell me that if a high value home was sold 364 days before the debtor signed the bankruptcy paperwork in their attorney’s office, the trustee might be able to seize said property for the creditors. Lynne is right. The drag in of the authors is no longer Trisk’s fault as it is bankruptcy law. Any contracts not returned 366 days before Trisk signed the bankruptcy paperwork in their attorney’s office stand in jeopardy which is why I begged authors to make sure they can do something with those books before they take any step.

That isn’t down to Triskelion. There was the usual bankruptcy clause in our contracts, but it seems this isn’t actionable. Since nobody seems to have realised this before Triskelion declared its intention to file for bankruptcy, in all fairness this isn’t down to them.

Triskelion can be blamed for several mistakes that led to its downfall, but not this. Earlier this year they released any author who asked, but since it has emerged that the courts have the power to backdate claims, that drags us right back in. Maybe. We have to wait and see what the court decides.

Various bodies are looking into the implications of this, as it affects all authors with contracts containing the same clause.

But when Triskelion first started understanding what was happening, they should have released the authors then! Instead, they took the authors unaware and brought them down with the ship.

As I said before, how tough is this to do the right thing!

Linn

I looked forward to never filing, but after the Army broke my hubby (seventeen year war vet – Persian Gulf) and our income took a 75% drop from what it was for countless years. Sure he received a disability severance pay (loan in my opinion) and I paid off over twenty-three loans/credit cards/debts totaling over sixty thousand, I thought we could make it, but fate had other plans and forced me to choose between my home and two credit cards while his disability suffers nearly a one thousand dollar garnishment to pay back the severance monies. Easy choice after all I did pay off.

I am involved in a bankruptcy 7 (in TN state – thanks Uncle Sam), but according to my attorney, bankruptcy is under federal jurisdiction and my creditors have the right to go back as far as one year for anything I had a right to or sold for money, can demand up to four years of tax returns and the trustee can take me to court if he even thinks I’m “gaming the system” (doing ANYTHING illegal). The new bankruptcy book on my attorney’s desk is so new it has no index. My creditors are unsecured and I don’t make enough as a writer for the judge to take any interest in my books (heavy sigh and deep appreciation for being a newbie at the moment). PLEASE, I beg you, be careful of what you do with your books until you receive the papers from the court granting you your rights and exactly what those rights are.