Considering ch 7- need feedback

[sna66]

just wanted to know if im a candidate, i'm been through some rough times and can't find a way out. heres the situation

i'm mid 30's
divorced
my ex and i have a condo together that is 6mths behind mortgage, soon to be foreclosed, havent heard from the bank yet, maintainence not paid for about the same time and a lawyer is billing me about $2000 for condo fees.
I live alone in a condo that is paid off in my mother's and my name, i pay the taxes and condo fees about 400 per mth.
Im upside down about 8 grand in a car loan.
15 grand in cc debt (have a debt management thing right now- difficult to pay)
i make $7000 less than the median annual income for my area.
I'm about -$200 per month after my mthly budget.
my ex an i have a son.

needless to say i'm really stressed, but i'm really trying hard to remain positive. went through medical issues and divorce. I'm going to speak to a lawyer next week, and just wanted to know what you think about my chances of gettin ch7, and what questions i need to ask the lawyer. TIA

[ForumReader]

Hi welcome to the forum I just have one question for you right now..you mentioned you are in a debt management thing. Are you saying you are in a debt settlement program? If so, how long have you been in this program and I strongly recommend you withdraw the program if it is difficult to pay debt fees. More experienced posters may chime in to help you out more with your situation.

[BobMango]

Well, it seems to me you've got three main issues: 1) you have the condo in your and your mothers name, 2) the condo with your ex (I assume they are living there?) and 3) what your income and expense schedules will look like.

Since the condo you're living in is paid off you don't have the payment there to offset income, not to mention the equity that may be over the amount you can exempt.

If your ex is living in the other condo I hope they are making other arrangements. If you let the bank take the condo you can discharge the related deficiencies in Chapter 7. Since you will be considered insolvent you wouldn't have any tax liability. The other thing that may come into play here is the divorce agreement.

Definitely contact some attorney's for the free consultation. This can give you a pretty good idea of where you stand.

[sna66]

thx guys, condo with my ex is deserted, my mother paid for the one i live in and added my name to it, income is 1900 mth, expenses is a little over 2000/mth

[sna66]

btw im in fl and the condo im in is worth abt 50-60 g

[sdbird101]

Your condo is completely exempt since your in florida, so no need to worry about that. Looks like a good chapter 7 fit.

beware though, it does not look like you get allot of other exemptions for personal property or cash. http://www.bkforum.com/wiki/Florida