Just needing some advice

[okiemom2008]

Anyone reading our story...would you consider filing bankruptcy if you were us?

The thing that has me started on this is that Friday we have 3500 in bills due and my husbands check is going to be 1400 or less. I have never had this happen...I am out of available credit on my credit cards to pay my bills with.

My husband and I both want to suck it up and pay for everything but all the things we have for sale just will not sale. If they would sell we would have all the credit cards paid off.

[justbroke]

How long do they look back? More than 3 months?

They generally lookback one or two years when it comes to disposition of Property in a Chapter 7. (They can lookback even further in certain cases.)

The main thing is whether you received adequate payment for the value of the item. This is to make sure you didn't just "give" something away.

[hopeforus]

My friend was asked if she sold or gave anything away in the last *year*. So it can vary greatly I guess.

I'm planning to sell stuff before we move, like clothes and fabric but when I asked yesterday I was told I just had to make sure to keep track of what I sold, how much, to who and how I spent that money.

So I imagine it could be the same with that? Just have to keep track of everything?

Or for those that know... would it be a flag because it's to family?

[hopeforus]

If you can't pay your bills and can't get more money in at all then I don't know why you wouldn't. Can you work?

[okiemom2008]

If we were to file does everything except my student loans go away? Or does it depend on your salary? We owe 28k on the vehicle we have and it is not worth that at all...it it worth 14k according to the car lot we bought it from now since it is a SUV and gas prices and all...

The houses...how do they go about that? I don't want everyone knowing we filed bankruptcy but how would they sell our homes without everyone(noisy family) knowing?

[okiemom2008]

If you can't pay your bills and can't get more money in at all then I don't know why you wouldn't. Can you work?

I can from home but only make 200 a month. We have a one year old and daycare here is so expensive. I cannot send my son to a cheap daycare..I just cannot make myself do it

And I was figuring numbers and if we filed and everything was gone...our bills would be so low and we would have alot of extra money that we have never had. We would save it to buy a house for cash and not have any debt. But would they track every thing we did with our money (because we would put it in a bank somewhere) from now on??

[hopeforus]

No... I don't blame you. If you will make nothing after day care anyway there is no point. I couldn't do it either. I would have to be able to make enough money to make it work sending him to daycare at all.

I think you just have to accept that you will lose some privacy when you file. It's part of it Bankruptcy isn't a walk in the park and honestly I don't think it should be. I think if it was easy to do then it would be easy to get back here again. It sucks but it's just part of it you may not be able to avoid.

As for what will go away... have you done the means test to do if you would be Chapter 7 or 13? Yes, it does depend on your income. You need to do the expense part of the test to see. Do you pass under the income level for the first part?

[okiemom2008]

[QUOTE=hopeforus;213113]No... I don't blame you. If you will make nothing after day care anyway there is no point. I couldn't do it either. I would have to be able to make enough money to make it work sending him to daycare at all.

I think you just have to accept that you will lose some privacy when you file. It's part of it Bankruptcy isn't a walk in the park and honestly I don't think it should be. I think if it was easy to do then it would be easy to get back here again. It sucks but it's just part of it you may not be able to avoid.

As for what will go away... have you done the means test to do if you would be Chapter 7 or 13? Yes, it does depend on your income. You need to do the expense part of the test to see. Do you pass under the income level for the first part?[/QUOTE

The privacy thing should not be important to me, I know. But the way my family is they will throw it in our face from now on. I can just see us in 10 years having something nice and them saying that we only got it because we failed and filed bankruptcy. This doesnt bother my husband but it does me...I don;t know why


I did the means test. We make more than they say at the first.

[hopeforus]

After doing your expense part what do you come up at?

And I know what you mean. I don't exactly want anyone knowing either. I know my grandmother will prob say "you should have..." Ya know... we didn't plan to have my husband injured twice at an army school and sent home without pay and unable to work and unable to collect anything. I just feel like we don't have to justify anything to those who will be rude about it. Set up boundaries and don't let anyone cross them. Even family. Tell them you refuse to talk about it if they try to get snotty about it. You are an adult... no need to need validation from your family if you feel you are doing the right thing

[Chrisi18]

And I was figuring numbers and if we filed and everything was gone...our bills would be so low and we would have alot of extra money that we have never had. We would save it to buy a house for cash and not have any debt. But would they track every thing we did with our money (because we would put it in a bank somewhere) from now on??

If you have too much left over income, you could be forced into a chapter 13

[okiemom2008]

If you have too much left over income, you could be forced into a chapter 13

Before the BK we will have 0 left over but after the bk because we have no bills we would have alot left over. Not sure if they track you after the bk...

[okiemom2008]

The Trustee will ask if you sold anything or gave anything away. They are trying to find "money" for the Estate.

Ok, so if I cannot sell them to family or give them to family or keep them, what is my other option? I don't get it?

[okiemom2008]

After doing your expense part what do you come up at?

And I know what you mean. I don't exactly want anyone knowing either. I know my grandmother will prob say "you should have..." Ya know... we didn't plan to have my husband injured twice at an army school and sent home without pay and unable to work and unable to collect anything. I just feel like we don't have to justify anything to those who will be rude about it. Set up boundaries and don't let anyone cross them. Even family. Tell them you refuse to talk about it if they try to get snotty about it. You are an adult... no need to need validation from your family if you feel you are doing the right thing

Ok I did it again and it is hard to say because our checks are so random...Right now they would pass the limit or be a little under but February-August they would be way less....My husband makes 100% comission so it is hard to say.

[hopeforus]

for the means test you just use the average of your last 6mos. Don't worry what his future income may be. If you think his income is going to get higher then file sooner. Do you mean in Feb he will be making less money?

[okiemom2008]

for the means test you just use the average of your last 6mos. Don't worry what his future income may be. If you think his income is going to get higher then file sooner. Do you mean in Feb he will be making less money?

Yes because around the holidays the money is better because people are spending. After Christmas it slowly tapers off and summer is not good at all.