On the Eve of filing.

[IamIrene]

I'm so nervous. My lawyer has all the paperwork ready. All fees are paid. Lawyer has requested a meeting to sign papers tomorrow morning.

I feel like I have a gun in my hand and all that is left to do is to pull the trigger.

What if something else happens? What if we do this and something else happens beyond our control and we find ourselves completely buried again with no option of legal relief?

I'm feeling a little sick to my stomach.

[Jacey]

You can what-if your situation to death...if we could foresee future events we wouldn't be on this forum for the most part! If you've thought through the decision and it makes sense, quit second-guessing yourself and just relax. Every one of us could have an illness/accident and run up a huge medical bill tomorrow, but the odds of that are probably about as high as us getting better jobs or an inheritance. Karma works both ways, so just trust your judgement and celebrate!

[LadyInTheRed]

Take Jacey's advice. Stop what iffing and concentrate on the task at hand: reviewing and signing your petition.

I stress the reviewing part because we read so often here about people who didn't read their bankruptcy petition before signing it and later found errors. Or, their attorney or a paralegal promissed to make a correction, they went ahead and signed it and later found out the correction wasn't made before the petition was filed. Remember, when you are signing the petition you are stating under penalty of perjury that it's contents are accurate. After being sworn in at your 341 meeting, you will again have to confirm that everything in the petition is accurate. Errors happen and the petition can be amended after filing, but it's best to get it right the first time.

Don't be pressured into signing before you are certain everything in the petition is correct. They should go over the petition with you. If they do it too quickly, ask them to slow down or leave you alone with the petition to go over it at your own pace. If you aren't comfortable enough in the attorney's office to review the petition at your own pace, tell them you will take it home and review it there. (You could call your attorney today and ask them to email you a copy of the petition so you can review it and mark it with your questions before you get there). If anything is not correct, have them correct it BEFORE you sign. If you don't understand something, have them explain it until you understand.

Many people are intimidated when dealing with an attorney and are too easily pressured to just sign the document without question. Remember, in your relationship with your attorney, you are the boss. Don't let yourself be intimidated.

[IamOld]

LadyInTheRed is so right - she echoes my atty's website - most people wait far too long to do this - as did spouse and I - I'm a nervous wreck, but that's just me. The people on this board are WONDERFUL - and that's an understatement.

Once you're clear of this, just keep repeating to yourself - NEVER AGAIN NEVER AGAIN NEVER AGAIN!!! and you'll be fine!

To quote Winston Churchill (sorry guys I need to do this) - "This isn't the end; this isn't even the beginning of the end, but it is the end of the beginning!" and soon you'll be on your way to a NEW beginning!

[disconapper]

I agree with everyone here. My attorney filed last Thursday at 1154pm, after leaving his office earlier in the day and after reviewing all the paperwork, panic engulfed me. I got sick to my stomach, got physically ill, etc. HOWEVER, after checking Pacer the next morning, I suddenly felt a huge wave of unexpected relief. I waited to long to file and am so glad the process has finally started for me. I sleep better, even though I'm in the very beginning stages of this whole process.

Trust your judgment and use this forum as an outlet.

[IamIrene]

You're all very right, of course. It's just so overwhelming. We have looked at all of our options and this really is the very best thing for us right now. No two ways about it...we truly are victims of the economy.

"NEVER AGAIN NEVER AGAIN NEVER AGAIN!!!" indeed! We are in fact, right in the middle of Dave Ramsey's "Financial Peace University" and while we were already doing a lot of what he recommends, there are some excellent tweaks we are incorporating to our new financial way of life.

My husband is still looking for full time employment...it is crime that a man over 45 can't find viable work in his field of study beyond the local fast food restaurant. The good news is, though, he is starting to get just a little bit of traction, so, we'll see (God willing!).

Thank you for your words of encouragement and good advice! We will be looking over the paperwork thoroughly tonight and double check to make sure our previously requested changes are in there.

[IamOld]

My best wishes to you Irene and to your husband!!!!!!!

[IamIrene]

Well...we had to delay until at least Friday because my bank account still shows the money for our mortgage payment just sittin' there. I paid it Monday...it hasn't been withdrawn from the account yet...they have a 72 hour policy so, we should be good to go on Friday. So frustrating.

I do have a question that hopefully someone here will be able to answer; about a month ago, my husband and I had our 2009 taxes reviewed and $1300 of "missed" money was discovered from that refund so, we sent in an amendment to our 2009 taxes to claim it because of course, we are in need of it (if we can get it) to make seriously needed car/house repairs. We have not heard back from the IRS and have no assurance of actually receiving the money...it is just a possible claim.

We disclosed all of this information to our lawyer to be sure it was accounted for and then, the paralegal tells us that the Trustee could claim this money as assets? But...I understood Oregon law to give us $1200 of exempt cash on hand ($600 each)...and now we're concerned we've unknowingly complicated our case by filing the amendment, and having this possible money "out there" just waiting to land on us.

[daylate]

Problem is right now it isn't cash-it is money due from the IRS. Does Oregon have any kind of wild card exemption you could use to exempt the refund? Good luck. I just checked-Oregon allows $400 each for a wild card exemption-have you used it for something else?

[IamIrene]

Problem is right now it isn't cash-it is money due from the IRS. Does Oregon have any kind of wild card exemption you could use to exempt the refund? Good luck. I just checked-Oregon allows $400 each for a wild card exemption-have you used it for something else?

Is that on top of the $600 per person cash exemption?

Ahh...found it:
"$400 of any personal property not already covered by existing exemption
(husband & wife may double) Or. Rev. Stat. § 18.345 (1)(o)"

Looks like it is $400 on top of $600...guess I'll be asking my lawyer.

Thank you! Hoping this doesn't make my case look "bad" to the Trustee.

[daylate]

The wildcard and the cash exemption are two different things. Your refund that is due now, when you file, is not cash. It is a receivable from the IRS and you can't use your cash exemption to cover it. You each can use the 400 so you can exempt 800 of the 1300. If you wait until you receive it to file then you could add the 400 to the 600 but not now.

Also where are you getting the 600 for cash? This is what I find on the web when I google Oregon Exemptions:

18.348 - Bank deposits up to $7,500, and cash for sold exempt items.

Seems to me you could exempt 15k of cash

I don't think the fact you applied for a refund will make your case appear "fishy"-if anything it is more open than waiting to file the amended return until after you filed.

Good luck.

[IamIrene]

Little update on the amended 2009: looks like we won't be getting anything back, in fact, looks like we owe the IRS $345 instead.

What a blow to the gut.

So, how does that work? We've filed already, but I know IRS monies are not exempt. Do we set up a payment plan and just pay it now? While we are still in our 180 days? I've already got a call in to my lawyer...guess we'll see what he says.

Guess the bright side is: we are DEFINITELY a no asset case now.

[Ihatebk]

I too am following a lot of what Dave Ramsey says, but he does not agree with BK at all. Anyway, I will be debt free when my BK closes and I will NEVER, NEVER, NEVER, NEVER, NEVER, NERVER borrow a penny from anyone ever again. At the end of my BK I hope to own my pickup truck and travel trailer 100% and me and my wife will camp in Walmart parking lots if we have too, but I will never borrow one cent from anyone ever again. PERIOD!

[IamIrene]

I too am following a lot of what Dave Ramsey says, but he does not agree with BK at all.

Indeed, but only because he knows the hell it puts people through from personal experience.

And I'm with you: never again. NEVER. AGAIN!

[IamOld]

Indeed, but only because he knows the hell it puts people through from personal experience.

And I'm with you: never again. NEVER. AGAIN!

I'm with both of you guys - NEVER AGAIN NEVER AGAIN NEVER AGAIN - I will borrow only if we NEED to get a new car period...or a house...NO MORE CREDIT CARDS!!!!! LOANS - EVER. I also said that once/when all of this BK is behind me I will get a secured card from Peoples Bank - why? Because there are times you need a credit versus debit card AND!!! with Peoples Bank it NEVER turns into an unsecured card.