Allowable Expenses???

[HHM]

Okay question (I'm not very educated but hear lots of rumors)

If you file Ch.7 are you allowed to give up your house outright if it's messing you up? I've heard the quick & simple 'you can't file against a house, car, or student loan' rule from others, leading me to believe you can have your unsecured debts discharged but if you don't want to keep secured ones, tough, there's no easy way to let one go.

So I never considered the possibility of dropping our old, foundation-damaged, wood-rotted, mouse-filled, roach-infested, water-damaged, energy-guzzling, electricity-failing, roof-leaking, crooked, rotten dang ol' house

Granted I have repaired some of the above in the cheapest, most half-assed manner possible... but I'm still paying on at least $20k above my closest estimated market value (and feel like no one in their right mind would buy it - we were young & uneducated and are basically stuck in it).

Well, the people you have heard "rumors" from are idiots. Of course you can surrender a house, a car, etc in BK and not have any liability. Doing so does take time, but it really is no big deal. On the statement of intentions, there is a box you check for "surrender" relative to secured property. Simply stop making payments and walk away. In fact, you can continue to live in the home, RENT FREE, until the foreclosure process is complete (note, even though you are surrendering the prop. in BK, the bank still goes through the foreclosure process to regain title and void secondary liens).

[Pizza]

Well, the people you have heard "rumors" from are idiots. Of course you can surrender a house, a car, etc in BK and not have any liability. Doing so does take time, but it really is no big deal. On the statement of intentions, there is a box you check for "surrender" relative to secured property. Simply stop making payments and walk away. In fact, you can continue to live in the home, RENT FREE, until the foreclosure process is complete (note, even though you are surrendering the prop. in BK, the bank still goes through the foreclosure process to regain title and void secondary liens).

Although I'm hesitant to call my dad an 'idiot'
(He's one of the ones passing the rumor on)

Your information was very helpful. Thank you very much!
At least I know now if things get out of hand I'm not 'stuck' in one of the factors driving me over the edge.

[Grider]

if you are below the means test, you still have to figure expenses??