thinking about filing Chapter 13

[mlmom5]

Keep an open mind about that 13...you are probably making a mistake on those cars, leaving yourself open to MAJOR headaches. Keep reading. There's more than one way to get thru a bk.

mistake??? on what they are worth? i dont understand

[mlmom5]

Are you in Illinois? Not a community property state, correct? Keep in mind that only your intersts in assets are subject to the bankruptcy. Are all 3 cars yours?

no just two of them are totaly mine

[keepsmiling]

This is going to sound like tough love... sometimes we get that way here
You have three older cars.
You get yourself into a 13 for 3-5 years.. One dies. Now what? How do you propose to get another one? Good luck getting approval/loan/income for another while in active bk. You have already paid for those cars. Now you have to pay the tt for them AGAIN...plus his fees.
Plus you have just subjected yourself to the tt's scrutiny for a minimum of three years. Be prepared to fork over your tax refunds. And if you get a better job/inheritance/lottery winning--- you will hand those over also. For three years to five years.
Are those cars really worth it? What kind of cars are we talking about here?
Plus you are not giving us enough info. Your wife is not filing. Is one of those hers? Is this all really just so your 16 year old can have a car?
Better to get yourself into a 7.
Please... start calling a few attorneys. Willing to bet they will give you similar advice. If not... run, quickly.
There is more than one way to plan a bk. Keep reading and asking

[keepsmiling]

Oh yeah.... plus a minimum of 3k in lawyer's fees. About twice what a 7 costs.
That second car is going to cost you a LOT of money.

[LadyInTheRed]

keepsmiling & mlmom5, I moved posts from the other thread into this one in order to keep the discussion of the cars and whether to file Chap 13 in one thread.