BK7 Thoughts...

[BillyRip]

Saw my Atty yesterday here in Colorado and he says he thinks I can squeeze by on a 7 by dumping my current condo and "moving into" my rental. The rental may have $35K equity, the condo is probably upside down after you add sales related fees, so I want out of there.

How long do I have to stay in my rental as primary? Can I still rent an apt close to work?

Another suggestion he made was to dump my car since I am outside of the 910 days, and we are trying to file quickly to stop collections and garnishments. Chalk that up to me being another debt settlement company victim.

How will I be able to get a car now with no credit? Do I just go in and tell them what's up? And that these payments are going to disappear since I am dumping the car?

Thanks for reading...

[keepmine]

Your post is confusing. THe 910 day rule applies to a Chapter 13 not a 7. You may have recourse with 722 redemtion financing in a 7. www.722redemption.com can explain.
Also, you won't be allowed to count as an expense both the condo payment and an apt.
Did this lawyer fill out schedule I and J for you.? HArd to see how he can make any claim about which chapter you qualify for without some hard numbers.
I'd see a couple of more lawyers.
HAve you actually been sued?

[TEW]

Saw my Atty yesterday here in Colorado and he says he thinks I can squeeze by on a 7 by dumping my current condo and "moving into" my rental. The rental may have $35K equity, the condo is probably upside down after you add sales related fees, so I want out of there.

How long do I have to stay in my rental as primary? Can I still rent an apt close to work?

Another suggestion he made was to dump my car since I am outside of the 910 days, and we are trying to file quickly to stop collections and garnishments. Chalk that up to me being another debt settlement company victim.

How will I be able to get a car now with no credit? Do I just go in and tell them what's up? And that these payments are going to disappear since I am dumping the car?

Thanks for reading...

I wouldl talk to a couple of lawyers. you may want to pick up a cash beater car for a while.

[BillyRip]

Your post is confusing. The 910 day rule applies to a Chapter 13 not a 7. You may have recourse with 722 redemtion financing in a 7. www.722redemption.com can explain.

Also, you won't be allowed to count as an expense both the condo payment and an apt.

Did this lawyer fill out schedule I and J for you.? Hard to see how he can make any claim about which chapter you qualify for without some hard numbers.

I'd see a couple of more lawyers.
Have you actually been sued?

OK, I didn't realize 910 was only for 13. I do think we'll end up converting to a 13, but that's just me. He says I can get through on a 7.

I took him the info... Debt, income, mtg and car payment info. He suggested I dump the car because I am about $10K upside down, but being that it's an '06, I prefer to keep it and reaffirm for the current value.

No way i can have a beater, too much personal interaction with customers.

I guess I'll just keep it and use the higher payment to lower my disposable income.