for those of you who are fimilar with my case/situation, go ahead and jump down below...
for those of you who don't remember or don't know my case/situation here is a recap....
2008, Feb. --- bought a house with ex-fiance
2009, Sept - Oct --- i left my ex, he moved out, i took over everything on my own
2009, Nov.- Dec --- no agreement could be made on what to do with the house
2010, Jan. - March --- research and explored all options on how to save the house on my own and get ex off the mortgage....failed
2010, March --- decided to try for the Mortgage Modification program using only my income and not including his since i was receiving no help at all from him
2010, April --- submitted the application; started to fall behind on all bills; this was the last mortgage payment i made
2010, May --- mortgage company kept giving me the run-around about the application....i got discouraged and was loosing more and more interest in keeping the property
2010, June --- research Chapter 13 bankruptcy...ex was in agreement for his name to still be on for the length of the chapter 13 bk timeline....met with an attorney....he suggested to lower the monthly payments first and then file for Chapter 7, since Chapter 13 would keep the monthly payment the same...hired the firm to do my Mortgage Mod...
2010, July --- problems start to arise with the house, roof leaks, etc. no money to fix it, continue to get discouraged....got engaged and fiance moved in...
2010, August --- changed decision about keeping the house...look into options again
2010, Sept --- notified attorney about my decision to not complete the modification program; posted on here about option to do a short sale...with your advise and more research, decided not to do a short sale and just file for Chapt 7....also decided to wait until Dec to file, and my brother moved in as roommate
2010, Nov. --- one of my credit card companies files a lawsuit against me....lawyer sends a letter to delay it....advises to save my money for the holidays and file after the new year...
2011, January --- had a one-car accident, car has significant damages, insurance doesn't cover it (my fault for not obtaining the right coverage).....started thinking about including it in bankruptcy and surrendering the vehicle
other factors i'd like to mention: attorney informed me to file alone with fiance and brother's contribution included as additional income....i'm under the median income for a household of 1 (even under if its of 3), i have no assests whatsoever except for the appliances and equipment that came with the house & property, i sold all my future when i was trying to keep up with my bills....everything in my house right now belongs to my fiance or my brother....
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so yesterday i went to my lawyers to give them the final payment and rest of my paperwork...i still have one or two documents to send them but i am anticipating by mid-week next week, they will have filed my case.....as for my car, the quote for repairs came to $3500, the car itself is worth $4300 and the pay out is $4800....the issue is that i found out when i reported the claim to my insurance that i didn't have collision coverage so they wouldn't pay for any of the repairs....my lawyer suggested to surrender the vehicle in the bankruptcy....i expressed my concern about my lender coming after me after they see it is almost totaled and i didnt have full coverage at the time of the accident, and he said there is a possibility but in his opinion it is unlikely.....i will be honest with you folk, this is what i was hoping for and yet I'm still very uneasy about this part of my case....i can only pray things go smoothly in this regard....as for the lawsuit, the court date is set for March 1st, but that changes once my attorney files my bk case correct?
so finally things are going to start rolling....hopefully the next few months will go smoothly and i'm sure i will still be back here asking questions throughout the process....for now, what are some things i should be aware of and/or expect after my case has been filed....any advice for me at this point??
thanks again everyone...this forum has been a blessing.
-AB
for those of you who don't remember or don't know my case/situation here is a recap....
2008, Feb. --- bought a house with ex-fiance
2009, Sept - Oct --- i left my ex, he moved out, i took over everything on my own
2009, Nov.- Dec --- no agreement could be made on what to do with the house
2010, Jan. - March --- research and explored all options on how to save the house on my own and get ex off the mortgage....failed
2010, March --- decided to try for the Mortgage Modification program using only my income and not including his since i was receiving no help at all from him
2010, April --- submitted the application; started to fall behind on all bills; this was the last mortgage payment i made
2010, May --- mortgage company kept giving me the run-around about the application....i got discouraged and was loosing more and more interest in keeping the property
2010, June --- research Chapter 13 bankruptcy...ex was in agreement for his name to still be on for the length of the chapter 13 bk timeline....met with an attorney....he suggested to lower the monthly payments first and then file for Chapter 7, since Chapter 13 would keep the monthly payment the same...hired the firm to do my Mortgage Mod...
2010, July --- problems start to arise with the house, roof leaks, etc. no money to fix it, continue to get discouraged....got engaged and fiance moved in...
2010, August --- changed decision about keeping the house...look into options again
2010, Sept --- notified attorney about my decision to not complete the modification program; posted on here about option to do a short sale...with your advise and more research, decided not to do a short sale and just file for Chapt 7....also decided to wait until Dec to file, and my brother moved in as roommate
2010, Nov. --- one of my credit card companies files a lawsuit against me....lawyer sends a letter to delay it....advises to save my money for the holidays and file after the new year...
2011, January --- had a one-car accident, car has significant damages, insurance doesn't cover it (my fault for not obtaining the right coverage).....started thinking about including it in bankruptcy and surrendering the vehicle
other factors i'd like to mention: attorney informed me to file alone with fiance and brother's contribution included as additional income....i'm under the median income for a household of 1 (even under if its of 3), i have no assests whatsoever except for the appliances and equipment that came with the house & property, i sold all my future when i was trying to keep up with my bills....everything in my house right now belongs to my fiance or my brother....
-----------------------------
so yesterday i went to my lawyers to give them the final payment and rest of my paperwork...i still have one or two documents to send them but i am anticipating by mid-week next week, they will have filed my case.....as for my car, the quote for repairs came to $3500, the car itself is worth $4300 and the pay out is $4800....the issue is that i found out when i reported the claim to my insurance that i didn't have collision coverage so they wouldn't pay for any of the repairs....my lawyer suggested to surrender the vehicle in the bankruptcy....i expressed my concern about my lender coming after me after they see it is almost totaled and i didnt have full coverage at the time of the accident, and he said there is a possibility but in his opinion it is unlikely.....i will be honest with you folk, this is what i was hoping for and yet I'm still very uneasy about this part of my case....i can only pray things go smoothly in this regard....as for the lawsuit, the court date is set for March 1st, but that changes once my attorney files my bk case correct?
so finally things are going to start rolling....hopefully the next few months will go smoothly and i'm sure i will still be back here asking questions throughout the process....for now, what are some things i should be aware of and/or expect after my case has been filed....any advice for me at this point??
thanks again everyone...this forum has been a blessing.
-AB
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