Question: I talked to 1 BR Attorney and Wanted to confirm what I was Told

[smockb]

This is my deal, Any Advise is greatly appreciated- I got into a situation a little over 6 mo ago that has been dragging me down- I had a Van that I still owed quite a bit of money on that had some Major mechanical issues- I tried to trade it in at several places but the only Dealer ship that would take it was towards a NEw vehicle of the same make. I ended up with a Really High payment that I cant afford- And Now I am scrambling from Credit card to credit card just to keep food on the table. I have About 7k in CC debt and the Car Loan +-24k with negative equity. I talked to a Big firm about chapter 7- And was Told The Creditor will most likely file an objestion because the lenth of the care loan-was 6mo ago. Then I was Told they will go back and make sure there was no typ of fraud involved with the Credit App- Which there was NOT- The attorney said basicly I should wait a min of 1 year to file for the auto loan-

This is my thought Should I talk to anotther attorney-
Has anyone else included a autoloan in a chapter 7 that was less than 7 moth old? and had sucess or a problem?

I am going to have to try and purchase a car before I file with a low payment and good gas milage- That I will reafirm- That should not be a problem correct?


The Attorney wants $1100 upfront and then I pay $400 for the court fee- does this sound about rite?

Here is my Issue- I need to be free and clear of the Huge car payment and CC debt-
IF I purchase a used less exp car and end up not being able to discharge the Large carpayment, I will never be able to pay any Bills-

I have neg Equity in home so that is not a prob- No other assets really to speak of -

Advice- Help?

[keepinitreal]

Has anyone else included a autoloan in a chapter 7 that was less than 7 moth old? and had sucess or a problem?

We included a car lease (not loan) that was less than 7 months old, and we were successfully discharged from bankruptcy.

[2manybills]

We bought another car in May, called TMCC to surrender our one year old lease after that and filed BK in July. It worked out good because the repo never showed on our report, only that the debt was discharged.

[researchnerd]

I think it can be done. My car loan was about 10 months old when we filed and there were no problems with including it. It might be worth consulting with a couple of other bankruptcy attorneys to see what they say.

[tcreegan]

Hi smockb,

A question to be asked would be 'should I file BK on a car loan and 7K cc debt?' ...thats pretty skimpy for a BK filing..

I am scrambling from Credit card to credit card just to keep food on the table. ...is this b/c of the car payment alone...or does the mortgage payment, lack of income, other factors come into play here.

Consulting BK attorneys is a great idea, shop around until you find somebody that fits your style of doing things and you are confident and comfortable with them.

The old saying, if all you have is a hammer, all your problems look like nails, applies to BK attys...for some unbiased advice on your whole financial situation I would suggest looking up a non-profit consumer counseling of [your state] (make sure it is the non-profit one) and make an appt. We got excellent advice, file Bk Ch 7, Ch 13, settle debts and don't file, what is needed post-BK/settlement to be financially viable, etc.

They will offer a class that you have to take b4 you can file BK anyhow, that was a good idea for us

Whatever you do, wish you the best of luck with it!! Keep posting, lots of folks here to help...

Tom in Colo

[tobee43]

not exactly understanding the full totality of your financial situation, i would say if you are living from credit card to credit card that is a good indication you are surely having some serious problems.

if you feel you want to file bk...PLEASE do go to a few attorney's and seek and hire the one that you feel most confident, and comfortable with. we interviewed 6 prior to us hiring the firm we chose.

also, a large firm usually means more overhead...so many times they are mill types or charge maybe more than an independent firm....just my experience, and may not be true in all cases.

best of luck on what ever you decide.....but make certain you are feeling "right" about what you do!