Hi,
I have been lurking around the forums for a while. The information here is great and I thank everyone for their knowledge.
I guess I should explain our situation starting with the back story.
We have around 90k in credit card debt, 80k second mortgage, and a 360k mortgage. House is valued at 390.
I started a business at the end of 07 and it did well until everything crashed. We used credit cards to survive on so I could pay my employees. In the end we liquidated and shut down in the spring of 09. I went back to work for another company.
At the beginning of 2012 things were looking good. We were making enough combined to knock out the credit card debt in 4 years.
In November I got laid off and have not been able to find a job to make up for the lost income.We gave ourselves until February of this year to figure it out.
We pulled the plug and met with a good lawyer who only handles BK. We are trying to do chapter 7.
I have been on unemployment since December and I am wondering how that fits into the means test? Is it calculated the same as income? With the unemployment we are averaging 7k per month. Without we are at 5.2k. 2 person household.
I am going to ask our attorney but I wanted to get some other input as well.
This is really stressful.
Thanks for your input.
I have been lurking around the forums for a while. The information here is great and I thank everyone for their knowledge.
I guess I should explain our situation starting with the back story.
We have around 90k in credit card debt, 80k second mortgage, and a 360k mortgage. House is valued at 390.
I started a business at the end of 07 and it did well until everything crashed. We used credit cards to survive on so I could pay my employees. In the end we liquidated and shut down in the spring of 09. I went back to work for another company.
At the beginning of 2012 things were looking good. We were making enough combined to knock out the credit card debt in 4 years.
In November I got laid off and have not been able to find a job to make up for the lost income.We gave ourselves until February of this year to figure it out.
We pulled the plug and met with a good lawyer who only handles BK. We are trying to do chapter 7.
I have been on unemployment since December and I am wondering how that fits into the means test? Is it calculated the same as income? With the unemployment we are averaging 7k per month. Without we are at 5.2k. 2 person household.
I am going to ask our attorney but I wanted to get some other input as well.
This is really stressful.
Thanks for your input.
Comment