So the first consultation was today.
Everything went smooth.
The attorney told me, that I can either file now, or file after the baby is born, he would simply file a motion to modify, adjust my Schedule J, and go from there on determining who gets paid and who does not.
He informed me my car was more than 2.5 years old from date of purchase, and it will be rolled into the plan for the market value.
He informed me that the IRS taxes due for the year 2008 would also be introduced into the plan.
He told me that his fee is determined by the court, but I would have to pay a $500 retainer, and the total due minus the $500, is $495, for filing.
He told me that its too complicated to determine how long my plan is even if, I am below state median, because the disposable income needs to pay the secured creditors first, i.e. (taxes)(auto loan)(his fee)(trustee).
So it might be a 36 month, it might be somewhere in between 36-60 months.
But if I filed before the baby is born, it would indefinetely be a 60 month.
So I am going to wait to file, pay my taxes when I file in April, thus eliminating that secured debt, and increasing my chances of getting a minimum of a 36 month. Buy all the baby stuff I need in the meantime.
He told me, that when the creditors are informed of me retaining a lawyer, they will most likely not sue, as it will be a waste of time and money, but the possibility is still there, yet they can only take 25% of the net income according to state law.
So I am very optimistic so far, and I think everything is going to go ok.
Feel free to either praise or ridicule me, I am open to both.
Everything went smooth.
The attorney told me, that I can either file now, or file after the baby is born, he would simply file a motion to modify, adjust my Schedule J, and go from there on determining who gets paid and who does not.
He informed me my car was more than 2.5 years old from date of purchase, and it will be rolled into the plan for the market value.
He informed me that the IRS taxes due for the year 2008 would also be introduced into the plan.
He told me that his fee is determined by the court, but I would have to pay a $500 retainer, and the total due minus the $500, is $495, for filing.
He told me that its too complicated to determine how long my plan is even if, I am below state median, because the disposable income needs to pay the secured creditors first, i.e. (taxes)(auto loan)(his fee)(trustee).
So it might be a 36 month, it might be somewhere in between 36-60 months.
But if I filed before the baby is born, it would indefinetely be a 60 month.
So I am going to wait to file, pay my taxes when I file in April, thus eliminating that secured debt, and increasing my chances of getting a minimum of a 36 month. Buy all the baby stuff I need in the meantime.
He told me, that when the creditors are informed of me retaining a lawyer, they will most likely not sue, as it will be a waste of time and money, but the possibility is still there, yet they can only take 25% of the net income according to state law.
So I am very optimistic so far, and I think everything is going to go ok.
Feel free to either praise or ridicule me, I am open to both.
Bankruptcy Wizard
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