Head is spinning!!! Any help out there?

[cptne33]

[gophermn]

cptne33, sounds like you have done your due diligence reading the books and understanding the rule 101 to pay off your high interest rate cards first, then trickle that money to the next card, and so-on. But it also sounds like you are going week by week looking for every dime and nickle. Only you can decide to file BK. I (we all) were in your shoes before. One minute I was talking about how god-awful it is my parents and brother filed CH7 and next morning I wake up I am doing the same thing.
Like you, my wife filed CH7 before we got married so I want you to beware that most likely you will file alone and the Trustee will look at your wife's income. If she is laid off, better yet. My trustee had my wife's income under a microscope trying to look for xtra money but according to my BK attorney, they were looking for fraud.

Let me just say that the BK black mark on my credit report is there for 7 years but the relief, living and having a few bucks in my pocket is well worth it. You will still find a credit card, auto loan and a few years a mortgage after BK so it's not like you are black listed. Hell, the way the economy is, including businesses, the blacklist book is growing :-)

[danaf]

doesn't sound like you need help.....you know what to do.

Don't buy a new car on the eve of bk. Some time has to pass between buying and filing or it will be questioned....at least 3 months, preferably 6. Take your time to plan the bk. Don't rush into it. That's where people make their mistakes.

The other thing - I think CA is a community prop. state. Don't let people scare you into thinking you can't file without your wife filing (although I realize she can't). I live in a C. prop state too and filed without my spouse with no problems. So it can be done. Just keep in mind though that on your asset schedule - you have to list her assets as well even though she isn't filing. I didn't know this when I filed so the trustee asked about it. He did have some stuff but it was all from before marriage and inherited so she couldn't touch it. And my debt was from before marriage like yours.

Not many who are married file solo in a c. prop state so you won't find many postings about this particular subject.

And filing was the best financial decision I ever made! I was in over 80k. A month out of bk I got a cc, no fees, 5k limit. That's all I needed to rebuild. I have a budget now and am very cost conscious. The stigma is bs. If major corps can file then so can we. And then with the bailouts and all the other crap going on - I don't feel one bit guilty or bad about myself. So stop stressing and start planning.

[cptne33]

I had heard that it was a good idea to buy the car ahead of time. I am planning on re-affirming the car so I don't see why the trustee would have a problem with it.

All of my assets and debts were accrued before we married (which jut happened in June) so I dont believe the trustee can touch those.

I have been on this forum like 24/7 and appreciate the support.


Do you think I am going to have to wait a while to file so my wife's income will lower because of her being laid off?

[danaf]

It depends on the means test - if you are over then YES!