Couple of questions/concerns ...

[proto]

Been unemployed in state of California for 2 yrs now. Surviving on unemployment benefits and savings. Still no job luck but I keep looking.

Also been trying to start a small business programming web based product in an attempt to "create a job". So far I haven't generated any income and benefits/savings will run out at the end of the year.

Been holding off filing BK7 to protect my wife (which I will be legally divorced from at the end of the year).

Only thing I own is my car (Kelly BB $3000). Have about $70k in debt (mostly credit cards). Pretty much stopped paying creditors 3 months ago.

Have a special fund tucked away to pay for lawyer but if I don't find a job or products doesn't sell then I will be flat broke after that.

In the process of switching banks to protect cash from Wells Fargo (who I also have credit card thru which I will stop paying soon).

My big fear is creditors going after (before I can file) car, cash, and/or wages (assuming I do find a job or business takes off).

Is filing asap the best idea to prevent this even though I read everywhere to have a job before filing?

Can they sue and go after wages of a job or source of income I may have in the future?

[keepmine]

At this point, you have nothing anyone wants. So what if they sue?
Once your finances are stable-file. The bk filing will take care of any outstanding judgments or wage garnishment orders.

[proto]

So if I have a personal loan with a balance of $1200 then that bank won't attempt to take my car or $5000 cash savings?

I would think the cash at least would be something this bank I owe $1200 to would go after ...

I thought creditors would sue and get whatever they can?

I feel confused about what exactly they can sue for before I have the chance to file.

I keep thinking petty creditors will sue and try to take what little money/asset I have before I can file.

Been reading all over this forum of this happening ... at least I think that is what the posts were saying.

[keepmine]

For sure, don't have money in a bank with whom you are going to default on a loan.
Nobody can tell you when or even if you get sued. But right now, that should be the least of your concerns. Concentrate on finding a job. Just go to cash for the time being if your worried about lawsuits.

[crashzx]

So if I have a personal loan with a balance of $1200 then that bank won't attempt to take my car or $5000 cash savings?

I would think the cash at least would be something this bank I owe $1200 to would go after ...

I thought creditors would sue and get whatever they can?

I feel confused about what exactly they can sue for before I have the chance to file.

I keep thinking petty creditors will sue and try to take what little money/asset I have before I can file.

Been reading all over this forum of this happening ... at least I think that is what the posts were saying.

If I understand everuthing i would say that they (creditors) will have to sue you first to even get a judgment. Keep money in a stand alone bank (you owe them nothing) and get an accnt to pay bills but keep any and all savings in cash stashed.

I am in a similar situation but have a job. The only thing I own is a motorbike (my only transportation and worth 3000 KBB). They will no doute go after my wages but they have to get a judgment first.

[proto]

Concentrate on finding a job.

Oh believe me the job hunt is a daily ritual of hunting and applying. However, since I've been so unlucky with finding work I am trying create a job and work for myself. Hopefully that will work out.

I would think that filing bk when unemployed would be the best time to file?

Is that not the case and if not then why?

[keepmine]

Oh believe me the job hunt is a daily ritual of hunting and applying. However, since I've been so unlucky with finding work I am trying create a job and work for myself. Hopefully that will work out.

I would think that filing bk when unemployed would be the best time to file?

Is that not the case and if not then why?

You do have to support yourself post bk. What happens if you file and then have a serious illiness 6 months later and you already played the bk card? Or, run up other debt post bk that you can't pay like, breaking an apt lease?That's why many suggest waiting until you have a job that has some health insurance benefits.
Just try and focus on stabilzing your finances for the time being.

[proto]

Ok so I get the health issues, etc ... makes complete sense. I also plan to work with cash as much as possible and keep low balances in new bank account I just opened (will pull out all money ASAP out of old bank which is a debtor).

So back to other question.

Can the debtors sue and take my car (which I own) which is only worth KBB $3k?

Without a car, finding a job (i.e. interviewing) would be very very hard.

[keepmine]

Creditors want cash-not a used car.
Not sure what Ca. provides for exemptions on autos but if it ever comes to that, a lawyer can tell you where you stand and you can proceed accordingly.