A few questions...

[HMT]

[music12]

yes, you can include overdrawn accounts. of course that's unsecured.

why are you not getting unemployment compensation?

the more important issue is that you need to get your life together before you file. get health insurance (in MA, you should already have it from the state if you can't afford it unless the reason you are not getting unemployment also disqualifies you from that somehow). and try to find a job first. bk will not put money in your pocket. it will discharge your debts, but the problem is that you won't even have a credit card to buy food with.

[lovebirds]

A lot of people do not get unemployment compensation. My husband didn't get it and he was laid off (not fired). He worked for his company for 2 years but his car was wrecked at the time and was honest to the unemployment office about it so they disqualified him (even though he could be using my car). We are working through appeals now and have been denied since February.

[music12]

what does the car have to do with getting unemployment? you can look for a job without a car. once you find a job you can buy a car if its necessary for the job.

[HMT]

I do have health insurance through my school that ends in September and my mother has been generous enough to agree to pay for school this year which will include it. Though, you are right I should look into getting Mass Health instead. I don't have unemployment because I quit. I waited the 10 weeks to file and it was still denied based on what my company said.

My biggest concern is the requirement that you need to file with evidence of income. I don't have that and don't understand how you would get around it.

I am 'judgment proof' however, the only thing to my name is my car and it is exempt.

Would it be best to wait till after I have a job from what you are saying to file and how long after getting a job? Should I wait 6 months?

I feel like such a cheat. I have busted my butt working since I was 14 and now for a year I have not... I'm not so worried about my 401K at least since I am young enough to regroup and start a new one.

One other question. It hasn't come to this yet but since I'd be waiting longer If I'm taken to court and a judgment gets put against me it gets removed with my filing my discharge with the court that did the judgment in the first place right?

[lovebirds]

what does the car have to do with getting unemployment? you can look for a job without a car. once you find a job you can buy a car if its necessary for the job.

100% agree with you.

They said the reasoning was that he did not have a car and there was no work within walking distance. We live in the city and have access to public transportation which has a stop down the street (more than a mile away but easily walkable).

But all of this is ridiculous b/c I have a nice working car that he can use all day long. Because he was honest and said his car was broken, we got denied. We appealed and are still waiting for our court date.

[music12]

lovebirds, that's unbelievable. i didn't even know they ask you whether you have a car when you file for unemployment. plus you do have a car so why are they being so stubborn?? i hope your appeal succeeds.

HMT, since you both quit and are a full time student, indeed you wouldn't generally qualify for unemployment. as to bk, you don't need proof of income to file bk. it is just a suggestion because you need to be on your feet after bk. however, in your case since you are very young and still in school, and your family is supporting you for the time being, that may not be necessary in your case.

another problem though is that if you took money out of your 401k, you would owe taxes on it which won't be dischargeable because they are too recent (taxes can be discharged only after 3 years). this means that after bk, you'd still owe the irs. maybe they will work with you on some payment plan, though.

[HMT]

I cashed my 401K out in November and my rebate covered the taxes from the 401K so I'm all set there! I was lucky, my neighbor had to pay on hers.

Thanks Music you've made sense of all the little things that had been nagging me.

This forum has been a god send. I was just ignoring call after call and finally my cousin took me aside 2 weeks ago and said "you know, no one but my parents no it but I filed for bankruptcy last year. You should look into it." Since then I've been looking everywhere have a list of things I need from the Mass BK website and all. I'm pretty organized and focused when I have a plan, problem is the plan I had fell apart after it ate all of my savings!