I've tried to find this info on the forum, but haven't been able to find a similar situation.
Our attorney filed our no-asset Chap 7 petition on 5/25, our 341 is scheduled for 6/23/11. We owe about $35,000 in unsecured debt. We're well below the median income for our state. Our attorney has said several different times that once we filed the bk petition, how we spend our money becomes a non-issue due to the fact that the petition is a "snapshot" of our financial situation on the date we filed. Is this really so?
We ended up filing because of being sued by several CC, we're not really going to be ahead financially speaking, because we haven't been able to make any payments for at least 2 years anyway, except for a line of credit through our credit union that was set up to come out automatically from our checking account every month. I have been unable to work for medical reasons since late 2008, our home was foreclosed on in 6/2009. Luckily, my much older sister owns an old house she received from my parents before they died & she has been letting us live there. We have not paid rent, but have made some needed repairs to the house when we've been able to squeeze some money out of our budget.
When I was forced to quit my job I also sold my car, since we couldn't afford the car payment. We own an older car ('96 Honda) driven by my kids for school/work & even older truck ('94 Dodge) driven by my husband, no loans on either for many years.
My sister owns a '98 Jeep Grand Cherokee that her son was driving, until the vehicle no longer passed inspection due to numerous repairs needed. Paying for the repairs would cost more than the vehicle was worth, so she offered it to me. Over the last 4 months my husband & his brother have been able to get the Jeep road-worthy, but we haven't transferred the title, because we haven't been able to afford to pay the taxes, license fees & insurance. I need an extra vehicle for doctor visits, grocery shopping, other necessary errands - trying to schedule my life around the availability of a vehicle has become a real hardship.
Should we wait until our discharge before doing anything with this vehicle? Or is it really as our attorney described, that what we do after the petition was filed is a non-issue?
Our attorney filed our no-asset Chap 7 petition on 5/25, our 341 is scheduled for 6/23/11. We owe about $35,000 in unsecured debt. We're well below the median income for our state. Our attorney has said several different times that once we filed the bk petition, how we spend our money becomes a non-issue due to the fact that the petition is a "snapshot" of our financial situation on the date we filed. Is this really so?
We ended up filing because of being sued by several CC, we're not really going to be ahead financially speaking, because we haven't been able to make any payments for at least 2 years anyway, except for a line of credit through our credit union that was set up to come out automatically from our checking account every month. I have been unable to work for medical reasons since late 2008, our home was foreclosed on in 6/2009. Luckily, my much older sister owns an old house she received from my parents before they died & she has been letting us live there. We have not paid rent, but have made some needed repairs to the house when we've been able to squeeze some money out of our budget.
When I was forced to quit my job I also sold my car, since we couldn't afford the car payment. We own an older car ('96 Honda) driven by my kids for school/work & even older truck ('94 Dodge) driven by my husband, no loans on either for many years.
My sister owns a '98 Jeep Grand Cherokee that her son was driving, until the vehicle no longer passed inspection due to numerous repairs needed. Paying for the repairs would cost more than the vehicle was worth, so she offered it to me. Over the last 4 months my husband & his brother have been able to get the Jeep road-worthy, but we haven't transferred the title, because we haven't been able to afford to pay the taxes, license fees & insurance. I need an extra vehicle for doctor visits, grocery shopping, other necessary errands - trying to schedule my life around the availability of a vehicle has become a real hardship.
Should we wait until our discharge before doing anything with this vehicle? Or is it really as our attorney described, that what we do after the petition was filed is a non-issue?
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