Hello I am getting ready to call our attorney and ask him these questions, I was just hoping to see what everyone in here had to say first. So far we have only had our first consultation and paid $100 down to get this rolling. He gave us a case number and told us to stop paying all of our unsecured credit and refer the creditors to his office. Wow - you talk about a weird feeling, I haven't missed a payment in years! Here's the questions.
1. He told us they would go off of the amount of our last 6 months of pay.
My job fluctuates through the year, sometimes overtime and sometimes I
don't even get 40 hrs. a week. It looks like business is picking up now and
the possibility is there for me to work overtime the next few months. My
question is should I work overtime or try to keep my pay as low as
possible?
2. Something else we are worried about is he asked us if we were on
somebody's will where we would be inheriting money here in the next 6
months or so, we told him no. My mother in law has no will to our
knowledge, every time my wife brings this subject up she gets very
upset. So its one of the situations we just avoid. My mother in law is in
stage 4 Cirrhosis of the liver. From what we have read a person normally
doesn't live more than a year once they reach stage 4. We don't file
bk until late July, what would happen if we file and (God forbid) something
happens to my mother in law? I'm not experienced in this, but I would
imagine my brother in law and wife would end up inheriting what little she
has.
3. I have two loans through my credit union at work, one is for a motorcycle
that I have about $1500 in equity in and another personal loan for a little
under $2000. I really didn't want to file against these, since this credit
union deals so closely with my work. Our attorney said I should file against
the mortorcycle since I would probably lose it in a chapter 7 and we have
to claim the other personal loan or the other creditors could throw a fit,
something about being preferential treatment. Is there anyway my job
would be in jeopardy since the credit union works hand in hand with my
employer?
4. Does the trustee ever check up on you after you have been discharged?
I am worried that my job might get busy the second half of the year.
It looks like we might be getting some large contracts later this year
which would result in me working a lot of overtime. This would result in me
making more money than before we filed.
5. Finally, our biggest worry is that we file a chapter 7 and when we go
before the trustee he forces us to go to a chapter 13 and makes us pay
a large amount, say $500 - $850 a month. Our attorney at this point
doesn't think we should have any problem going chapter 7, we are under
the median income by about $4000 dollars a year. I just don't know what
we will do if they make us pay a large payment, we will have ruined our
credit by not making payments on are CC's. And after we file we won't
have our CC's to fall back on for our basic monthly living expenses.
Thanks
1. He told us they would go off of the amount of our last 6 months of pay.
My job fluctuates through the year, sometimes overtime and sometimes I
don't even get 40 hrs. a week. It looks like business is picking up now and
the possibility is there for me to work overtime the next few months. My
question is should I work overtime or try to keep my pay as low as
possible?
2. Something else we are worried about is he asked us if we were on
somebody's will where we would be inheriting money here in the next 6
months or so, we told him no. My mother in law has no will to our
knowledge, every time my wife brings this subject up she gets very
upset. So its one of the situations we just avoid. My mother in law is in
stage 4 Cirrhosis of the liver. From what we have read a person normally
doesn't live more than a year once they reach stage 4. We don't file
bk until late July, what would happen if we file and (God forbid) something
happens to my mother in law? I'm not experienced in this, but I would
imagine my brother in law and wife would end up inheriting what little she
has.
3. I have two loans through my credit union at work, one is for a motorcycle
that I have about $1500 in equity in and another personal loan for a little
under $2000. I really didn't want to file against these, since this credit
union deals so closely with my work. Our attorney said I should file against
the mortorcycle since I would probably lose it in a chapter 7 and we have
to claim the other personal loan or the other creditors could throw a fit,
something about being preferential treatment. Is there anyway my job
would be in jeopardy since the credit union works hand in hand with my
employer?
4. Does the trustee ever check up on you after you have been discharged?
I am worried that my job might get busy the second half of the year.
It looks like we might be getting some large contracts later this year
which would result in me working a lot of overtime. This would result in me
making more money than before we filed.
5. Finally, our biggest worry is that we file a chapter 7 and when we go
before the trustee he forces us to go to a chapter 13 and makes us pay
a large amount, say $500 - $850 a month. Our attorney at this point
doesn't think we should have any problem going chapter 7, we are under
the median income by about $4000 dollars a year. I just don't know what
we will do if they make us pay a large payment, we will have ruined our
credit by not making payments on are CC's. And after we file we won't
have our CC's to fall back on for our basic monthly living expenses.
Thanks
Comment