I am new to the site and not sure where I should post all the questions I have related to filing Chapter 7.
We will not be filing until August or September because of income issues. I was taking an ACH distribution from my IRA and needed to stop due to showing to much income . Filing Chapter 7 due to high credit card debt, HELOC and a federal tax bill due for 19,000. We have ceased paying the credit card debt & equity line of credit ( Home that has equity line has been foreclosed and sold ) We were current on all payments until March 1).
We have retained a BK Lawyer and given him 250.00 for first meeting . He has not been very helpful . When I telephoned him to inform him of the desire to switch from Chapter 13 to Chapter 7 he told me I needed to write all questions down and ask at the designated meetings. We have recently relocated to a Arkansas from Arizona and were referred to him by a legal service. Due to the income issue he said to let him know if any of the creditors file a lawsuit and tell the IRS we are filing and will make a payment commitment after filing. Does this sound logical ?
We bought the home we are in with cash (128,500), two vehicles 2004 truck and 2006 car are paid for. We own a 2004 19' camper trailer also paid for and all furniture , etc. in the home which is all paid for. I am very nervous about the exemption amounts allowed ( we will be using AZ exemptions due to time residing in AR) . The home is homesteaded in AR and the AZ exemption is 150,000.
We relocated due to lost retirement income and job loss in AZ. My spouse is working and as stated I have ceased my distribution and have been unsuccessful in gaining employment ( cannot work now anyway due to income qualification for filing Chapter 7). We have some cash in the checking account which I would like to take out and keep on hand for emergencies (1,500.00) and then keep only the amount needed for household expenses.
My questions are as follows: 1) Is it likely that we will be able to retain both vehicles ? 2) Can the Credit Card Companies go into the checking account to get payments ? 3) Should I close checking and savings account ( savings is for property taxes) ?
I realize I have written a lot here but would appreciate as much help as anyone has time to give!! It is such a relief to have somewhere to go for help and understanding. Thank's!
We will not be filing until August or September because of income issues. I was taking an ACH distribution from my IRA and needed to stop due to showing to much income . Filing Chapter 7 due to high credit card debt, HELOC and a federal tax bill due for 19,000. We have ceased paying the credit card debt & equity line of credit ( Home that has equity line has been foreclosed and sold ) We were current on all payments until March 1).
We have retained a BK Lawyer and given him 250.00 for first meeting . He has not been very helpful . When I telephoned him to inform him of the desire to switch from Chapter 13 to Chapter 7 he told me I needed to write all questions down and ask at the designated meetings. We have recently relocated to a Arkansas from Arizona and were referred to him by a legal service. Due to the income issue he said to let him know if any of the creditors file a lawsuit and tell the IRS we are filing and will make a payment commitment after filing. Does this sound logical ?
We bought the home we are in with cash (128,500), two vehicles 2004 truck and 2006 car are paid for. We own a 2004 19' camper trailer also paid for and all furniture , etc. in the home which is all paid for. I am very nervous about the exemption amounts allowed ( we will be using AZ exemptions due to time residing in AR) . The home is homesteaded in AR and the AZ exemption is 150,000.
We relocated due to lost retirement income and job loss in AZ. My spouse is working and as stated I have ceased my distribution and have been unsuccessful in gaining employment ( cannot work now anyway due to income qualification for filing Chapter 7). We have some cash in the checking account which I would like to take out and keep on hand for emergencies (1,500.00) and then keep only the amount needed for household expenses.
My questions are as follows: 1) Is it likely that we will be able to retain both vehicles ? 2) Can the Credit Card Companies go into the checking account to get payments ? 3) Should I close checking and savings account ( savings is for property taxes) ?
I realize I have written a lot here but would appreciate as much help as anyone has time to give!! It is such a relief to have somewhere to go for help and understanding. Thank's!
Comment