I think my wife and I are headed to BK...

[Toby34]

I know i'm probably repeating myself here....but....
We have monthly bills that total about $5500. ($80K CC debt and $15K loan debt, not including car loan)
Our monthly income after taxes is about $3000 on a good month. My wife brings home $2400 and since i'm selfemployed, it varies, but lately it's just been a few hundred a month.

We do not own any property, live with family. No Rent.
We have 1 car loan that we are current on (about the only thing we are current on).

From what I have read this is what we should do....
- Stop paying all our CCs.
- Keep money out of the bank...live off the cash. Which we have been doing for the last year anyway since all our CCs are maxed out.
- Don't spend more then $600 on anything
- Go talk to a few attorneys

- Should we wait 90 days after we stop paying on the CC's before we see an attorney? Or do you just have to wait atleast 90 days before you can file?

Will there be a problem keeping our Car? We just got it in November. Our other car is my old jeep that i drive.

We are (way) below the Average family income in Maryland.

Looks like we'll be fine for Chapter 7 right?

I'm not going to have to get another job am I? I'll still be able to keep working on my business?

[whatamess]

Skip tracing jerks!!

On the calls to your friends in another state it is called skip tracing. Check out the collection problems thread. They call your work, neighbors, sisters and brothers, anyone they can find you have had contact with ever. Its evil and ought to be illegal.
We are somewhat similar. We are also living with my mother. Our income is very similar except we have two kids. SO YES, PLEASE do this before you have kids and get it all out of the way. I wish I had been able to have that option.
We dont give my mother rent, we pay bills like you. We pay Dish network, Verizon TV & internet, heating oil, and $500 a month in grocery bills. The lawyer said this is not an issue, and as long as the parent puts it into writing and you have the canceled checks/money orders to prove it. So sit down with the parentals and get them to lay it all out on paper and sign it.
Good luck!!
WAM