when to file BK

[253BK]

Good info! My problems are I have a big purchase on a cc in the last 20 days and also my income! As of right now the last 6 months I made 56,000 as of Dec 1st I made 0.00 that is a huge differance!

I can deal with the calls that is what I do all day at work LOL I think we will have to stick it out until dec or jan so I wont have income and any purchases will be a month or so out! I am going for a chapter 7 I do not want any payment set up if I did I would just keep the arrangments I have so hopefully Chap 7 will work!

[253BK]

Jolly I was reading your signature is it still on going???

Filed Chapter 7 - 10/26/06, Discharged - 3/5/07, Waiting on closing if so wow it takes a long time!!!

[253BK]

Next question on wages my wife gets monthly from work? Anyone have a idea when they will try and garnish her wages? This so I want to make sure I file before that sets in! Any info is good...

Once again thanks for everyones helps this site is great!

[jennordhavn]

Next question on wages my wife gets monthly from work? Anyone have a idea when they will try and garnish her wages? This so I want to make sure I file before that sets in! Any info is good...

Once again thanks for everyones helps this site is great!

Not sure about WA, but here in CA a creditor must get a judgment before they can garnish wages. If that's the case, you should have plenty of notice before they start garnishing her wages. If WA is a community property state, they can definitely can garnish her wages for your debts.

[253BK]

where can I find some info on this any good sites???

[lrprn]

where can I find some info on this any good sites???

here's a list of the community property states - http://www.fairmark.com/spousal/comprop.htm

If you live in one of these states AND the debt in question happened DURING THE MARRIAGE, then yes, your spouse can be held responsible for your debt.

Here's two excellent resources on bankruptcy in community property states:

http://bankruptcy-law.freeadvice.com/consumer_bankruptcy/spouse_bankruptcy.htm

http://www.************************/...nity-property/

[253BK]

SO we are a community state does that mean they can just start a garnishment right away or still have to file a judgement??? Doesnt seem right if they can just start taking her pay check she is on all of the loans with me if that helps!

[JollyGG]

Jolly I was reading your signature is it still on going???

Filed Chapter 7 - 10/26/06, Discharged - 3/5/07, Waiting on closing if so wow it takes a long time!!!

My trustee took a small portion of our tax return that we couldn't exempt and also went after a balance transfer we did not long before filing. That made us a asset case. We are getting close. She filed a proposed distribution a week or two ago. A year to close in an asset case is fairly normal. Besides for all intents and purposes our part of the bankruptcy is over at discharge. See this post by HMM re. closing and discharge http://www.bkforum.com/showthread.php?t=10879

[JollyGG]

SO we are a community state does that mean they can just start a garnishment right away or still have to file a judgement??? Doesnt seem right if they can just start taking her pay check she is on all of the loans with me if that helps!

They still have to get a judgement.

The only difference that living in a communitee property state makes is that your spouse can be garnished for your debt. In non communitee property state your money is your money and her money belongs to her and they can't do anything to her for a debt that is in your name only.

[253BK]

OK good so at least we can get some heads up before the garnish starts! Well I guess we will love here till 2008 for free then file! That will put me at making 0.00 for 6 months and my wife only bringing in 3800$ monthly with 2500.00 of that going to car payments... not much to live on but hopefully that will all change!

Now I havea few listings that are running if one was to sell after we file do you think they would freeze that money as well or take it the check would be at least 7500$ or more. Maybe it is time for a hourly job until we are filed and closed!

[jennordhavn]

OK good so at least we can get some heads up before the garnish starts! Well I guess we will love here till 2008 for free then file! That will put me at making 0.00 for 6 months and my wife only bringing in 3800$ monthly with 2500.00 of that going to car payments... not much to live on but hopefully that will all change!

Now I havea few listings that are running if one was to sell after we file do you think they would freeze that money as well or take it the check would be at least 7500$ or more. Maybe it is time for a hourly job until we are filed and closed!

Just FYI, WA allows 25% of disposable income to be garnished. Since you work on commission it would be difficult to garnish your wages, so the creditor would most likely go after your wife's income. They may also try to garnish your or your wife's bank account(s). You should try to find information on bank garnishments in WA. In CA if you can prove that the money in your account is earned income, you can file a claim of exemption to keep 75% of the money. Check the WA Code of Civil Procedure.

[biotechsolution]

253BK. I hope you have other expenses besides the car payment. A $2500/month car payment is never going to fly with the ch7 trustee. But if her gross is only $3800/month it should be below the state mean anyway. So it should be okay.

[253BK]

2 cars at 1900 plus insurance and gas we should be right around 2500-2600 then of course our wonderful power bill at our home is 300-400 monthly always nice!!!

I havent had a tax return in years always owe since I am on commissions this year I had to pay 14K but oh well!!!

[biotechsolution]

I'm pretty sure you are going to be limited to around $450 per car for payment any amount above isn't going to be able to used for expense purposes. There are limits. Otherwise what would stop someone from going out and getting $2000/month car payment before filing.

[253BK]

So they will expect us to give these back then??? If so I will not file BK and just short sale the houses maybe that is the ticket what is your thoughts???