New to forum and hello.
I seen to have gotten myself into a bit of trouble. I'll keep it short. Had business for two years that fell on its face due to the economy. Left my husband and myself in massive CC debt. I got job soon after business went belly up, husband couldn"t find job until 2 months ago. (We still qualify for the means test)
Jobs have been paying for mortgage, food, cars (2), clothing, and a few of the lower cards a month. All secured debt being paid on time. However this still leaves about $125,000 in CC debt (about 80% from business).
Have spoken to BK attorney who wasn't sure "until today" how to proceed. House purchased 3 years ago for a very high price is showing $83,000 in excess equity after execmptions when recent appraisel done. Problem with appraisel is that there are no recent comps, as they are all over 1 year old. In this economy the houses are just not selling. Attorney says we should file Chapter 7 anyway, and use houses for sale as comparisons (gets me very nervous).
Question (and thanks for sticking w/me) how would you proceed w/such a high appraisel? My reservations with this attorney, are they founded? Has anyone had dealings with an attorney near Moore County and can email me their information? (Guessing not allowed to post specifics on form)
Thanks for your help all!
I seen to have gotten myself into a bit of trouble. I'll keep it short. Had business for two years that fell on its face due to the economy. Left my husband and myself in massive CC debt. I got job soon after business went belly up, husband couldn"t find job until 2 months ago. (We still qualify for the means test)
Jobs have been paying for mortgage, food, cars (2), clothing, and a few of the lower cards a month. All secured debt being paid on time. However this still leaves about $125,000 in CC debt (about 80% from business).
Have spoken to BK attorney who wasn't sure "until today" how to proceed. House purchased 3 years ago for a very high price is showing $83,000 in excess equity after execmptions when recent appraisel done. Problem with appraisel is that there are no recent comps, as they are all over 1 year old. In this economy the houses are just not selling. Attorney says we should file Chapter 7 anyway, and use houses for sale as comparisons (gets me very nervous).
Question (and thanks for sticking w/me) how would you proceed w/such a high appraisel? My reservations with this attorney, are they founded? Has anyone had dealings with an attorney near Moore County and can email me their information? (Guessing not allowed to post specifics on form)
Thanks for your help all!
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