I am going to have to file a chapter 7 in the next few months,my wife lost her job and we could not keep paying 1st 2nd mortgage on my pay so I have been only paying the utilities.My second is with HFC (Beneficial) and they tacked on so much interest that the loan is more now than when I got it 6 years ago.I am going to surrender the home and my wife had a repo and several CCs defaulted and now there are lawsuits starting.We fall well below the income requirements for Chapter 7 and plan on going with a chapter 7. My question is now that I haven't paid the 1st and 2nd in months and have almost got the utilities caught back up what should I do with my paychecks Pre Filing? My wife just started working again and there is probably a $1200 excess at the end of the month combined (without paying the mortgages). I spoke with an attorney and he advised waiting to file for a couple months and selling a couple old Jet Skis I own because they are about my only non-exempt assets and using the money from the sale to pay his fees. I just hate to save up money just to have to surrender it to the trustee. Any advice?
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You might start looking for a rental as you'll need some place to live.
Car maintenance, health checkups, eyeglasses are always good fallback expenditures.May 31st, 2007: Petition Filed by my lawyer
July 2nd, 2007: 341 Meeting Held
September 4th, 2007: Discharged and Closed. -
And food, toilet paper, paper towels, laundry detergent, pet food, medicines, get the point? I could spend several thousand dollars on necessary items pretty quick.Originally posted by JRScott View Post
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Bankruptcy is a process, not an event.......Comment
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Thank you for the replys,this forum is very helpful. I am very nervous about this but the more I read the better I feel.Comment
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I'm sure you and your wife have put off a lot of necessary things over the years.
As JR mentioned, car maintence, checkups and eye exams are acceptable. Also, be sure everyone goes to the dentist.
You are allowed to have a reasonable lifestyle. Normal grocery shopping trips and taking care of your health and making sure you have reliable transportation will take care of a lot of that money you're saving.Comment
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