Do I get to keep my autos? Some general adive too.

[Chuki]

I have a consultation with an attorney on Friday, but just some questions on my mind. I have 2 autos

86 accord worth $500 or less. It has lots of problems, and I just use it for real quick here and there.

90 4Runner that's worth maybe $1500-$2000 at most. This for the most is sentimental to me, its defects are mainly cosmetic, rust, dents, I was rear ended a few years back. The engine is pretty tired too, but just keeps on going.

Would they try and take anything like that? Or are they looking more for secured assets, like if I was still paying on it?

All my debt is unsecured, and I have 2 judgments against me (stipulated, so I'm making payments). I have a 3rd lawsuit pending, its just overwhelming, I can't keep up, and I still have accounts out there. I signed on with a debt settlement company, which would work nice, if I would have been able to come up with the majority of the debt I owed within a years time. But I couldn't and I'm getting sued left and right. This is my 3rd one in less then a year. I'm tired of the stress its putting on my, my wife, and our marriage. We had a son in March, and I want to be able to give him the best of me, and feel BK is the best option.

We're both just worried about losing some of things that were given to us, or we earned. Most of the things we're worried about I would say would have street value of $200 or less. With the exception of the Nintendo Wii which was an xmas gift

I'm probably just over reacting, but some outside confirmation, is always a comforting thought in times of stress.

*edit*
Would a mod be so kindly to change adive to advice. I guess my fingers got ahead of my actual typing.

[CompTweaker]

Sorry to hear about all of the stress, so tackle that first. Calm down, you're gonna be fine. Next, stay the heck away from debt settlement companies. If you already have something going with one, CANCEL it ASAP. With the judgements, you're in over your head and those companies are only out to get your money.

Learning your state's Exemptions will also help calm you down:

http://www.bcsalliance.com/bankruptcy_stateexemptions.html

http://www.************************/...y-they-matter/

and then get your means test results:

http://www.legalconsumer.com/bankruptcy/means-test/

good luck

[AngelinaCatHub]

[Chuki]

All my debt is unsecured credit cards, the ones I have not paid or settled are in CA's. The 2 judgements I have, are just stipulated judgements I have with the CA. Basically to pay $200 a month on each until each are paid in full.

After reading my states and federal exemptions, I have absolutely nothing of value to them. I rent, so I don't own my home. I've sold lots of my personal belongings anyway to just scrounge up any cash I can. What I do have, if I got lucky I might get $5000 out of everything, and thats selling the clothes off my back.

Thanks for the info, I've done the means test already, and I've already done my credit counseling as well. Just had questions lingering, and couldn't wait to talk to an attorney to get my answers and found this forum, so thought I'd ask.

Thanks again!

[soleprop]

i read somewhere else on this forum that in general an individual filing bk is allowed to exempt one vehicle unless they can prove that the second vehicle is necessary for work, weather, or gets exceptional gas mileage (economy). because both of your cars are so low value (mine too, don't sweat it - love the hondas!) - you should be fine. state that the nissan is necessary because the honda barely runs. also if you're filing jointly you'll have nothing to worry about as exemptions are likely doubled in your state (but check).