New and have some questions.

[michelle1980]

[JRScott]

As long as you can explain the arrangements and the funds in the past it will probably be okay, however the trustee could since you are not their legal guardian disallow future expenses regarding your ex's children to be used in your schedules.

I would not call the place back or tell them anything. Take the letter with you to the lawyer's office and let them see it, 90% chance its just a scare tactic to get you to pay something which is illegal of course but they do it all the time.

[michelle1980]

[CH33 Paralegal]

You should do an NADA on the car. Factor in any suffix on the car or extra options it may or may not have. You get to exempt some of the wealth that the asset represents. I don't think it would be too far above what you'd get for an allowance. The whole reason they would want to take the car would be to sell it, so if the trustee can't generate that much money after it's all said and done, they may decide to leave it alone.

[music12]

those lawyers who gave you one week were probably violating the law; they are supposed to give you 30 days, not a week. and if you can't find them, do they even exist?

your credit score will pick up as long as you don't get new loans that you can't pay back... give it some time.

[OhioFiler]

I'm not sure filing BK is necessarily the right choice for you.

You only have $21,000 debt. Do you have any assets other than your car?

[Kpower]

Me- 42,000 gross 26k net after taxes and insurance wife - 14400 since she went part time to save on daycare which gives us 42400 to live on for the year.

42400
-7200 cc debt
-4800 non-dischargeable cc debt
-4416 Car
-2400 Utilities
-18000 Mortgage
-2500 Car insurance
-2400 TV/Internet/Cell/home phone
-----------------------------------
$684

This is not including gas groceries, diapers, formula, clothes, toys, entertainment, car repairs, medical bills, or any other miscellaneous expenses that arise.

After the bankruptcy we will end up with around 600 a month for all of these expenses. Which is still not enough. I have been racking my brain trying to figure out a way to make more money but I am only available 4 nights a week and Sunday because of my wife's schedule. Even then we would never see each other. I have tried to get a part time job and have not had any luck. People do not want to hire you if you already have a job.
You can't judge whether a person needs to file based on their amount of debt. You have to see the whole picture and that is why there are exemptions and schedules.

[OhioFiler]

Me- 42,000 gross 26k net after taxes and insurance wife - 14400 since she went part time to save on daycare which gives us 42400 to live on for the year.

42400
-7200 cc debt
-4800 non-dischargeable cc debt
-4416 Car
-2400 Utilities
-18000 Mortgage
-2500 Car insurance
-2400 TV/Internet/Cell/home phone
-----------------------------------
$684

This is not including gas groceries, diapers, formula, clothes, toys, entertainment, car repairs, medical bills, or any other miscellaneous expenses that arise.

After the bankruptcy we will end up with around 600 a month for all of these expenses. Which is still not enough. I have been racking my brain trying to figure out a way to make more money but I am only available 4 nights a week and Sunday because of my wife's schedule. Even then we would never see each other. I have tried to get a part time job and have not had any luck. People do not want to hire you if you already have a job.
You can't judge whether a person needs to file based on their amount of debt. You have to see the whole picture and that is why there are exemptions and schedules.

Filing BK sounds like a poor decision for you if you will not have enough money to live on even after the BK.

How do you have non-dischargable CC debt? Are you upside down on the house?

You can't judge someone based on only partial information but you can make certain assumptions and ask for more detailed information which is why I stated "I'm not sure filing BK is the right choice for you."

If the OP has no assets and only $21,000 debt she may be able to negotiate those debts to nearly nothing and save the cost of an attorney. She may also be collection-proof depending on her state's laws.

That collection agency probably bought her debt for less than $200. She can offer them the amount she would pay an attorney to file BK as payment in full and I'd bet they'd be quite happy to settle.

BK is not always the answer. If she eliminates her problems in a way other than BK now she reserves the BK option for later should she suffer something else catastrophic.

[Kpower]

I have a credit card that was in my mothers name that I used while I was in school for car repairs and some dental work and living expenses. Some of the charges on it were hers but I owed her 2k so I told her if she wiped out the 2k I would assume responsibility for the card. I cannot list the card on my bankruptcy but I have to list her as a creditor. This will remove my legal obligation to pay but it won't remove my moral obligation to pay. My mother is 74 and on a fixed income. Most of her money goes to pay her own debt. Me not paying this would ruin her and our relationship.

How can I not file bankruptcy? I do not have cash on hand to offer a settlement to any of my creditors. I could not sell my house as I am upside down by 25k. The laws changed in my area and they require certain changes to be made to allow occupancy upon the sale of a home. I would have to have the money in order to bring my home up to this code to sell anyway even if it would sell. There are homes in my neighborhood that have been on the market for over a year despite price reductions. We can squeak by on what we will have after the bk and in a few years my wife will go back to work full time and we will be in a much better position. In the meantime we will be eating cheap and buying second hand I guess. I need that 7200 dollars a year that will be freed up cause right now we have nothing and we are taking the money we are supposed to be paying our bills with to live on. We can walk away from the house and not have to worry about getting our money out of it and we can go to the grocery store without the feeling of dread that comes with using bill money to get diapers for my kids. Right now it is either file bankruptcy and lose the house and the cc bills. Or don't file and get foreclosed and possibly sued. At least this way we can qualify for an FHA loan in 2 years as opposed to 3 with a foreclosure.

[OhioFiler]

Well if you can live adequately post-BK then do so. I thought I read you were in a position that even post-BK you were unable to meet your obligations.

[AMISLANDER]

Get more opinions. $2K worth of credit card debt is not worth filing...not sure what your loan is for, but that's really not worth it either, just my opinion.