Can I file BK 7

[heyu]

I am at present being sued by a major cc company for $41000.00, original amount being $34600.00, I used this money for a sure thing investment and lost it all, I am head over heel in debt, behind in everything, my mortgage is upside down and behind by four months because I cannot make the payments, my pay in 06 was nearly $100.000.00 which fell to $44.000.00 last year and so far for this year I have only made $22305.00 and this is due to the present economic condition, I have an ex wife whose alimony payment is $750.00 per month, an ex girlfriend with a baby boy going two who I have supported to the best of my ability but it was not good enough so now I will be forced to pay more through Child Support, probable about $500.00 per month and to top it all my present wife is now pregnant, no medical support or any thing, what chance do I have doing a BK 7.

[deafbroke]

I am at present being sued by a major cc company for $41000.00, original amount being $34600.00, I used this money for a sure thing investment and lost it all, I am head over heel in debt, behind in everything, my mortgage is upside down and behind by four months because I cannot make the payments, my pay in 06 was nearly $100.000.00 which fell to $44.000.00 last year and so far for this year I have only made $22305.00 and this is due to the present economic condition, I have an ex wife whose alimony payment is $750.00 per month, an ex girlfriend with a baby boy going two who I have supported to the best of my ability but it was not good enough so now I will be forced to pay more through Child Support, probable about $500.00 per month and to top it all my present wife is now pregnant, no medical support or any thing, what chance do I have doing a BK 7.

Talk to an attorney then get a vestecomy.


DB

[JRScott]

What state do you live in?
How much did you make in the last 6 months gross?
How many are in your household?

There is no way to get alimony or child support removed in a bankruptcy, however you might could go back to the court due to hardship and see if the court would adjust the alimony, this would be separate from the bankruptcy though.

Have you actually been served papers or are they threatening to sue?

You sound on the surface like a good candidate, however with the lack of medical insurance and a baby on the way it might make sense to delay filing until after the birth of this new child. It would increase your household size. It would also enable you to discharge medical expenses related to the pregnancy/birth if you had to.

What do you spend on other bills (electric, car insurance, car payments, taxes, gas, oil, water, sewer, groceries, etc)?

[MCheyenne6]

trying to get out of paying your ex and your child support.... not nice I'm sorry but I can't sympathize with that part.

[oldrocker]

trying to get out of paying your ex and your child support.... not nice I'm sorry but I can't sympathize with that part.

Now he didn't say he was trying to get out of it, sounded like he was just stating his finacial situation for us. Give him the benefit of the doubt for now.

[bmrigs]

Talk to an attorney then get a vestecomy.


DB

LOL! Thats got to be the reply of the year......

[keepmine]

In all seriousness, don't file until the baby has been born and then, include all of those expenses in the bk.
Depending on your state, you may have to accept your wages being garnished for awhile.Also, close all bank accounts and go to cash. Judgment creditors can levy the entire account.

[MCheyenne6]

Talk to an attorney then get a vestecomy.


DB

preach on,lol

[laurannm]

Talk to an attorney then get a vestecomy.


DB

LOL thanks for bringing a smile to my face this morning

[southernbelle]

preach on,lol

ROFL!!!! I almost fell on the floor laughing. I was thinking the same thing. Thank you for that.