Ok, I meet with an attorney....

[jakeinTX]

I had my first meeting with an attorney today. I am in Texas and wanted to file by myself since all debts are solely in my name. The short answer to this is yes I can. I have to list my wifes name down for the purposes of using her income in the means test. The attorney said her name will be withdrawn so as not to affect her. I was looking at a Chpt 13 but based on my income vs outgo he said it wont fly. He stated that a Chpt 7 is my real only option. He said because of exemptions in Texas I may not loose anything. He has dealt many times with the bank where my cars are financed and stated that because they are most likely upside down that he will ask for a modification of loan based on current value. The bank usually does this because they don't want the car. I have about $50 in unsecured debt that will go up for discharge. Since I bank where the car loans are he said to switch banks. I am setting up an account at a Credit Union online tonight. The overall cost will be $1400 plus $299 for court filing. I though this was reasonable? We will file the paperwork in October to use the preceeding 6 months. Does the basics of what I have stated here sound correct?
Thanks
Jake

[jessegirl]

I am not from Texas, but its basically what we are going to kinda of do, except we hubby and I are filing chapter 7 and are doing the six month waiting period too. One question? Is your car a loan or a lease?

[FreshLikeADaisy]

Jake, yes, the price sounds reasonable and so does all his advice. I like that he's willing to work for you to get a modification of the loan: that's above and beyond the call of duty in a straightforward no-asset Ch7.

But of all the advice he gave you, the bit about changing your bank accounts is probably the most important right now. I'm glad to hear you hopped on that -- too many have waited, and then found out the hard way why it's such a bad idea to have deposits at the same financial institution you have defaulted credit on....

Good luck!!!