Seriously Desperate for advice... yet once more

[Ann]

All, this past week has been an emotional rollercoaster... As previously posted here on Monday my attorney informed us we could not file a 7 because we were over the median too much... he also stated we could not file a 13 because we had too much unsecured debt...now he says maybe a 13 since he valued my home about $100,000 below what he should have on the petition and says if I get an appraisal we could go ahead with a 13... I was going to try to hold out for the 7 until June (to work less and have less income to show for the means test) BUT as luck would have it my husband just got an alert from Equifax monitoring that a judgment or suit has been filed by 2 different creditors. I was so afraid of this. I looked on my local county court website that allows you to find judgments and lawsuits and see nothing there... YET... where else can I look??? Also, anyone please, I'm so damn tired of this and my nerves cannot handle much more. If I answer a summons that is for sure to come my way can I realistically wait for June to file a 7??? Please everyone speak up... I so look up to everyone here to help me... thanks!

[justbroke]

Ann, you really need to relax and get some rest tonight. Nothing related to this complaint is going to happen tonight. You should be served if this is a legitimate lawsuit/complaint filed. Until you get that, just sit back.

I think you need to concentrate on getting your home appraised. I would get a Realtor to do a CMA (comparative market analysis). Tell them that you are "thinking" of short selling the home but don't know what the value is. Even with your home being $100K underwater and with what you told me... that's still only $311K in unsecured debt. What is up with your attorney??? Or did I miss something?

[Ann]

justbroke, forgive!!! yes, I'm a ranting, raving insane lunatic right now... scared to death... real quick... attorney says you have to count the "underwater" portion of your homes value and add that to the unsecured debts because you cannot say you have that equity in the home when don't. Problem that I noticed on the petition was he used the sev of our home instead of it's true value. In Michigan you "usually" double the sev of your home to get a close to but not 100% accurate value. My first mortgage is 193,000... second... $68,000... unsecured debt is actually $219,000 and not the $211,000 I originally posted... I would say the true value of my home would be anywhere between $190,000 and $205.000... so that is where we stand... sorry all for the lunacy... I'm so exhausted from this

[newbie2]

justbroke, forgive!!! yes, I'm a ranting, raving insane lunatic right now... scared to death... real quick... attorney says you have to count the "underwater" portion of your homes value and add that to the unsecured debts because you cannot say you have that equity in the home when don't. Problem that I noticed on the petition was he used the sev of our home instead of it's true value. In Michigan you "usually" double the sev of your home to get a close to but not 100% accurate value. My first mortgage is 193,000... second... $68,000... unsecured debt is actually $219,000 and not the $211,000 I originally posted... I would say the true value of my home would be anywhere between $190,000 and $205.000... so that is where we stand... sorry all for the lunacy... I'm so exhausted from this

Ann, you can do nothing about the situation until you get an accurate market analysis of your home. Pick up the phone and call a couple of real estate agents or hire an appraisor. Then make an appointment with another attorney. Worrying yourself sick with the "what ifs" when you still have work to do (picking up the phone and getting the ball in motion) is counter productive. You've made it this far, now go the distance.

[Amy26]

Yes, we have told her a few times to seek alternate counsil but are you going to stick with the one you have Ann? From your posts it seems like you're sticking with the same attorney?

[Ann]

Amy, I am going tomorrow for a consult with another attorney. The attorney I hired has sent me an offer to "reopen" my case if I can get an appraisal on my home for a 13 or for a 7 when my income goes down to pass the means test. I am aware that I need to seek different advice. I only received $120.00 of a refund from the original $1400 that I gave to him. Yes, I really did think we could do a 7 and because time was of the essence I wrote the check. At this point it may mean to fork over more money for a different lawyer and believe me if I knew for sure I could file right NOW and get in a 7 I would gladly do just so. I dont understand the whole credit report that says there is a judgment or suit that has changed in my file...it says to contact the court that reported it if you were not a part of a suit. I have yet to receive a summons and there is no court listed on the file??? Where else could I look (besides my local county court) that would give me the info??? Not sure

[SMinGA]

If a judgement was filed you'll be served in the next few business days in all likelihood. It will give you a time frame to file an answer. How long might vary from state to state - but its likely to be ~30-45 days. From there, a court date should get scheduled which would be another 3-6 weeks. At least.

I suspect you have time to explore all your options. I can't say June is fine for certain, but at the time you filed an answer you should find out your court date. I suspect court date calendars 'fill up' so filing an answer near the deadline might buy you more time (with a later court date) than filing an answer right away.

[Ann]

Thanks SMinGA and to everyone who cares enough to answer my ever so desperate calls for "help". One thing I don't understand is why there is no court listed on the credit report? Actually it says it is from Chase Bank and from American Express (who just 2 days ago wrote a letter saying they are willing to give me back a portion of my credit line if I would set up a payment plan with them)... Can anyone tell me where I can find this information online?

[newbie2]

If a judgement was filed you'll be served in the next few business days in all likelihood. It will give you a time frame to file an answer. How long might vary from state to state - but its likely to be ~30-45 days. From there, a court date should get scheduled which would be another 3-6 weeks. At least.

Lawsuit comes first, then a judgement. A judgement cannot be in place without the lawsuit happening and the court finding in favor for the plaintiff (in this case a credit card company or junk debt buyer).

[newbie2]

Thanks SMinGA and to everyone who cares enough to answer my ever so desperate calls for "help". One thing I don't understand is why there is no court listed on the credit report? Actually it says it is from Chase Bank and from American Express (who just 2 days ago wrote a letter saying they are willing to give me back a portion of my credit line if I would set up a payment plan with them)... Can anyone tell me where I can find this information online?

Many county courts have the info online, but not all. You may want to pick up the phone and call yours and ask them to search by your name, or go in person. Also, some areas have district courts that can handle smaller lawsuits, Check for your area by doing a search for district court and the name of your city.

[SMinGA]

Yes - see Newbie's post above. The judgement itself would come at the end of the process. Filing the lawsuit starts the process, does not go on one's credit report. Instead of 'judgement filed' I should have used clearer terms.