Not great, but good option

[Nofilb]

Talked to our BK atty today. Looks like we can file 13 (not 7). I was a bit surprised at the amount I'll need to pay monthly for 60 months. Looks like we'll be paying 100% which is OK. My atty said the good news is we won't have to pay all the crazy interest. I will owe all my annual bonus money and taxes it looks like. It's going to be a long journey, but we'll make it.

[tobee43]

i would see a few atty's before you make a decision.

i'm not saying a 13 is not perfect for you. but, i must say we went to approx 5 attys and 3 said 13 and 2 said 7. it' just good to get another opinion. i know here in the middle district of florida, the attys we saw tried to steer us toward 13s as opposed to 7s. i don't know why, especially, in light of the fact that our income was all exempt under the ss act. so if i were you, just to be safe, i would see a few more attys for free and see what they say.

you might find the first atty you saw was spot on, but this way it leaves no question in your mind.

[Drazil65]

I agree with tobee43, see several attorneys for the "free" consult. We saw 3 and the first attorney would only talk to us about a 13, said we could not do a 7 and would not talk about a 7. The 2nd and 3rd attorneys both said we could go either way very easily, we ended up being most comfortable with the 3rd and went with him. We filed on 12/13 (started seeing attorneys in June/July last year so 6 months out), had our 341 on 1/17 and now we are in the 60 day club with a chp 7 no asset, no distribution on pacer!

You owe it to yourself to do some more research and perhaps have a couple more consults. It will be worth your time. Good Luck!

[Me2Broke]

We are still in the process of hiring an attorney. I plan to hire someone within the next 8 weeks or so. Thank you for this information, because I will not try and make a few more appointments to examine all possible views on my case.

[GoingDown]

JEEEEZ! If you're going to be forced to pay back 100% of it anyways, and they're going to take all your bonus pay and tax refunds too, then what is the point in bothering with BK?

I think I would just take my chances with lawsuits and wage garnishments. Would it be more than 25% of your income in a Chapter 13? Wage garnishment is 25% max.

[tobee43]

JEEEEZ! If you're going to be forced to pay back 100% of it anyways, and they're going to take all your bonus pay and tax refunds too, then what is the point in bothering with BK?

I think I would just take my chances with lawsuits and wage garnishments. Would it be more than 25% of your income in a Chapter 13? Wage garnishment is 25% max.

i'm with you goingdown.

[shark66]

i'm with you goingdown.

+ 1

Good luck to us all.