Newbie Questions on 7

[dmbshop]

I am so happy to have found this forum. I have been spending many sleepless nights and now have some where to turn. We have seen an attorney and are now waiting to file a chapter 7 (if we qualify). My husband's pay has been cut considerably, so we are waiting for about 2-3 months, so that our average income will meet the means test instead of reflect his old rate of pay. I have a few random questions that I forgot to ask at the attorney's office today (my head was spinning) or need more clarification and don't want to wait until next month's meeting. Thanks in advance for any guidance you can offer.

1. We have one vehicle. It was just purchased two months ago financed through our credit union. (I went through a crazy time to get the loan, so I am feeling badly now about the BK effect since they were the only ones who would approve me) I want to keep the car and will keep current on the payments, but we have 2 other loans with the credit union which will go in the BK. My attorney said that it may be difficult to keep the car while we wait to file because of "cross-collateral" rights that they have from the other loans. That once those payments are missed they may come after the car even though that is paid. Does that sound right? Any ideas on how to avoid this or how long of a process it is for them to reposess it? Once we file, will it stop them from taking it?
2. Are voluntary contributions to a retirement fund that are deducted from a paycheck allowable or will they be included as income under the means test?
3. Are college savings an allowable expense?

Thanks so much for your help.
D

[AngelinaCatHub]

On number 1: Credit unions are unique. They do this and your lawyer is correct.

On number 2: This may be questioned, but bk cannot touch your retirement funds.

On number 3: College saving are also exempt. I assume an account for your child? As far as your contributions to it, I am not sure. 'Hub