161k unsecured.
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31k to CCs
71k for a house and car, keeping both
The CCs were just out of control, at 29% interest we couldn't pay them down no matter how hard we tried. Our house and car payments are very very reasonable and we'll be able to live on one income if we had to. Fresh start!attorney consult and decided to file, 02/15/2010
no-asset Chapter 7 filed, 03/11/2010
341, 05/10/2010
discharged, 07/13/2010
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Unsecured ~ 25,000
Secured (reaffirming)~ 4,800
Secured (walking away) ~ 430,000 (with fees and arrears)
Dental ~ 2,000 (will pay)
Student Loans ~ 10,000 (will pay)
401K loan ~ 5,000 (will pay ourselves back)
Total Debt ~ 476,800
We owe more than 4 times our income. Ouch !~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Contacted Lawyer October 2009~Filled out Chapter 7 Petition January 2010 ~Credit Counseling Jan 2010
Have yet to file Chapter 7
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75K credit cards
25K car loan (surrendered)
208K mortgage (surrendered, underwater 60K)
52K HELOC
60K student loans (of course we still have these)
and just for good measure I threw in the $400 we owed DirecTV that I was tired of arguing with them about, LOL.
We now have the student loans and 12K owed to my father in law, he bought us a car when we had our van repoed last summer. Feels good!!!
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