Scared

[mamaof2]

Hi all, this is my first post, we are current on all bills, but made the decision to file for chapter 7 asap (our consol is in 2 weeks, and want to file as fast after that as possible), my question is, we want to keep our house, truck and motorcycle (no equity at all in any of them), we have about $80,000.00 in unsecured debt, and we have used 4 of the cc in the last couple of weeks

chase $600.00
citi $400.00 (over the course of 2 months)
old navy $180.00
visa $300.00 in purchases and $600.00 in cash advances

my question to you all is do you think this sounds like a pretty simple chapter 7...or will we run into problems?

Also, we have decided that starting in may, we will not be making any more payments to the unsecured debts....is this a smart thing to do? (it is because i need to have the attorney money, as soon as he is ready to file)

thanks

[novayalife]

the chase and visa purchases that you made very recently may cause you some problems. Stop using all credit cards now! Generally, your attorney will tell you to stop making payments and use that cash for living expenses and to pay your attorney but you may have to make some payments on the cards you just used.

[mamaof2]

I know, I made my last purchase on the cards yesterday for food and gas, I know that i may have to make some payments, and am ok with that, as long as it doesnt make it drag on longer than it already is going to. Any advice from anyone here will help me alot, as i am very scared, but have never been without heavy debt since the age of 18 (that was almost 12 years ago)

[GeG_Lost]

I had about $800 in a cash advance and my attorney said as long as I was willing to pay that portion back, she was willing to proceed right away if that is what I really wanted. We ended up having to wait a couple of months to finish paying our attorney just because of life (unexpected car repairs and things like that). That said, I would gladly pay that $800 instead of the massive amount of debt we are discharging. I think with all the fees and such added on since I quit paying we are up to around $140,000. That was our situation though. I would ask your attorney's opinion and go from there.

[mamaof2]

Thanks you two

yeah- i also worry that my husband and i are only under the median income by about 2000.00, is this going to make it any more difficult?

[Beedlebrow]

We had used our cards just prior to consulting an attorney for our ch. 7.
We were advised to stop making payments immediately, and not to use them for the next 6 months.
6 Months later we filed.
All good so far.

[mamaof2]

Beedlebrow

why did you wait 6 months? (just curious), I cannot wait that long or i would, i will be discontinuing my cc pmts as of may....and absolutley CANNOT have creditors call either me or my husband at work, i know that we cannot get fired, its not that.....but it will cause alot of problems as we both cannot be bothered at work, and other people awenser the phones besides us

[TEW]

Hi all, this is my first post, we are current on all bills, but made the decision to file for chapter 7 asap (our consol is in 2 weeks, and want to file as fast after that as possible), my question is, we want to keep our house, truck and motorcycle (no equity at all in any of them), we have about $80,000.00 in unsecured debt, and we have used 4 of the cc in the last couple of weeks

chase $600.00
citi $400.00 (over the course of 2 months)
old navy $180.00
visa $300.00 in purchases and $600.00 in cash advances

my question to you all is do you think this sounds like a pretty simple chapter 7...or will we run into problems?

Also, we have decided that starting in may, we will not be making any more payments to the unsecured debts....is this a smart thing to do? (it is because i need to have the attorney money, as soon as he is ready to file)

thanks

Sound simple form what you've typed here. Make sure you can afford the things you want to keep and DO NOT reaffirm anything. not sure why you are in a hurry but put some time between the time you took the cash advances and the day you file.

[chad9162]

yeah- i also worry that my husband and i are only under the median income by about 2000.00, is this going to make it any more difficult?

In reality no one here can answer your questions clearly enough to make you feel better. We can only provide assumption. Each district is specific on what they allow and don't allow. Obviously based on your questions you've been reading and now trying to confirm your suspicions.

My attorney only cared if I had used my CC's for over $600 anything less he did not care. He told me anything is negotiable. He had a client make a $14K cash advance just before BK that his client didn't tell him about. Obviously he had to settle with the trustee.

My advice....go talk to some attorneys in your area. They will know what your district allows. I felt 1,000 times better after talking to my attorney. His answer were more concrete.

[mamaof2]

the reason i am in a hurry is because we are going to stop paying on the cc's in may, and want to prevent any creditors from calling our jobs, and i think they need to stop once you file...am i correct or no?

we have our consol in 10 days.

[chad9162]

the reason i am in a hurry is because we are going to stop paying on the cc's in may, and want to prevent any creditors from calling our jobs, and i think they need to stop once you file...am i correct or no?

we have our consol in 10 days.

Correct? Yes. Although, I think you need to be several months late before they start calling your work. I believe its the CA's that use that tactic. Remember initially it will be your creditors who call and they want to keep you as a customer. I'm one month late and they've been pleasant.

[mamaof2]

chad9162.......thank you, that sounds right, i just want to start this and get it done with.

[chad9162]

I feel the same way....but if anyone finds out I don't really care. This is a decision for my family and my future

[MiSSMaGoo]

You can tell them to not contact you at work as well. The bank I work for if we are told once not to call a number b/c its a work number it goes in as a permanent note and we will not contact that number again. I can only speak for the bank I work for though

[mamaof2]

tHANKS FOR THE TIP ON THE CALLS, I JUST DONT WANT TO DRAG THIS ON...WANT TO START AND FINISH FAST.