Over median DISCHARGE

[moe]

Interesting, thanks!!!

Yeah, the second part is the part that makes me think I could qualify for Chapter 7. But I thought it was kind of ironic because I am doing everything humanly possible to pay credit cards, like have an exchange student live with me and cook her meals--but it is also not guaranteed income. Still it seems like if I want to declare Chapter 7 then I would have to get rid of this student because that makes it look like I have more income. (The IRS doesn't count it as income, according to my husband--wait, maybe I better make sure he is right!)

I'm glad your trustee saw this issue in your favor.

[sunshinepa]

A big congrats!!!!

[tobee43]

congrats silly!!!

[btbeme]

If I could change anything I did, I would probably have traded in one of my older cars for a financed car, to help on the means test. I ended up not needing it, but it probably would have helped things go more smoothly.

Doesn't it seem strange that purchasing a vehicle before BK will typically help you with your filing?

Congrats on your discharge!

[Fallonedward]

That is what we did, because our car was costing more in repairs then a new financed one would over the 3 year life of the loan.

Doesn't it seem strange that purchasing a vehicle before BK will typically help you with your filing?

Congrats on your discharge!

[TBA]

Doesn't it seem strange that purchasing a vehicle before BK will typically help you with your filing?

Congrats on your discharge!

We actually did this - i paid off my car about 6 months before filing, and we had quite a bit of equity in it. I traded it in to something with a lower payment than my old car, so we could still afford the payment, at our attorneys advise. I was pretty emotional about it (not the car - taking a new loan before bk...) - but it was justified, as the old car we paid off was starting to have some expensive issues.

With the used car market being the way it is, i dont think it will be that uncommon to see cars as assets in these cases - We just had to pay to pay to keep ours. Who would have thought that a depreciable asset could have equity while my house is bordering on upside-down-dom...