screwed ourselves and stressed

[coolmom04]

We screwed ourselves in december by getting new cars. We had planned to file in March and needed to either refinance or replace one vehicle and replace an old beater, but hadn't intended on my mom moving in. She moved in at the end of January and we are now supporting her 100%. We just got her insurance stuff and we will be forking out $400/month for her health, dental & vision insurance. She's 54 and has had medical problems in the past, so we fill it's important to continue her coverage.. still shopping for plans hoping to find something as good for less money.. fat chance probably.

So, here's the situation:
1) We are an asset case b/c we paid one creditor $655 in the 90 days prior to filing b/c of a stupid banking error. I forgot to stop one of the auto drafts.
2) We plan to let one of the vehicles go back since we'll essentially have to replace the car payment with insurance for mom.
3) We plan to say we'll reaffirm the other vehicle, but am not sure we will yet. We are considering not signing the papers and letting it go after the 341 meeting (if this is legally okay).
4) We are not reaffirming the house.
5) We have to pay the trustee $1100 for insider payments to my MIL.

So, my question is this 1) can we actually let the 2nd vehicle go back after the 341 even if we are considered an asset case... or do we have to wait and let it go back after the case is closed? Can we go ahead and fork out the other $655 we paid the cc or should we just let them get the $$ from the cc so that we're not considered an asset case?

We're filing on Wednesday, but all these new questions are killing me. I am so sick of stressing about this... so ready to file and get it over with.

Please don't flame me for the stupid car mistakes... I had no idea mom was moving in (she left her husband in another state and had no choice but to leave job, etc., and she has no qualifications other than a manufacturing plant and she hasn't gotten any responses from the jobs she's applied for so far). If she hadn't moved in, we could afford the cars with absolutely no problem. I had no idea how much extra it would cost to provide for another adult!

[JackBondLove]

I will presume that your mother is destitute. In that case, just let her go uninsured and have her file bankruptcy if she gets into any situation requiring expensive care? On a side note, it would seem that she would be one of your dependents, so l would think that giving money to her should not be a problem.

[aces67]

Well I've already answered a couple of your questions but as for your mom if she's able to work and she's looking for a job you may try to get her temporary insurance. Blue Cross offers a great one. It's less than $100 per month but it's only major medical. It will cover catastrophic stuff like surgery, in patient stays and etc.

[dspii]

You can let either vehicle go back, it has no bearing on you being an asset case. Keep making payments on the car your keeping. The title holder of the car your letting go, will ask the courts to lift the automatic stay so they can collect their property.

The only problem is if the court does not sign off on a reaffiramtion agreement on the car your keeping. Although, that should not be a problem, unless its a huge payment.

The $655 payment to a unsecured creditor does not make you an asset case, but the $1100 MIL payment will, unless it was a long time ago.

[coolmom04]

You can let either vehicle go back, it has no bearing on you being an asset case. Keep making payments on the car your keeping. The title holder of the car your letting go, will ask the courts to lift the automatic stay so they can collect their property.

The only problem is if the court does not sign off on a reaffiramtion agreement on the car your keeping. Although, that should not be a problem, unless its a huge payment.

The $655 payment to a unsecured creditor does not make you an asset case, but the $1100 MIL payment will, unless it was a long time ago.

Ohh okay! Thanks for the info on the $655 payment. The debt was from 6 years ago when my husband borrowed $6500 from his mom. We just paid it off in December.