Hello, everyone. It's been awhile since I've posted. Things sure do get busy with a new baby and three job changes in a year!
I had originally hoped to file Chapter 7 by the end of this year, but it's looking less likely that's going to happen. I haven't been able to gather the funds to pay my attorney's fees in full and the filing fee, so things have been at a bit of a standstill. The creditors are calling, but I'm mostly ignoring them and letting things go to Google Voice (which has helped tremendously, by the way, so thanks to those of you who suggested it!).
There's also been another change: I recently got a job making more money, and my new income plus my wife's income is likely going to put me slightly over the median income for the means test. My past 6 months income will place us well below, but I've heard that some trustees look forward, as well, to look at your ability to pay.
So now I'm sort of pondering my options, which are:
1) Move ahead with the Chapter 7, anyway, and see how it goes,
2) Settle with my creditors and just pay them back, or just ignore them (which may result in lawsuits and/or wage garnishment), or
3) File Chapter 13 instead (which would basically eat up all of the disposable income that my wife and I have and prevent us from working on some other financial goals, such as saving an emergency fund).
I guess I'm looking for some input from everyone. Does it make sense to settle my debts and just pay them off, even if I could file for Chapter 13 and get them paid off with no interest even if I had to pay 100% back? Or is it better to try for the Chapter 7 and see how it goes?
I had originally hoped to file Chapter 7 by the end of this year, but it's looking less likely that's going to happen. I haven't been able to gather the funds to pay my attorney's fees in full and the filing fee, so things have been at a bit of a standstill. The creditors are calling, but I'm mostly ignoring them and letting things go to Google Voice (which has helped tremendously, by the way, so thanks to those of you who suggested it!).
There's also been another change: I recently got a job making more money, and my new income plus my wife's income is likely going to put me slightly over the median income for the means test. My past 6 months income will place us well below, but I've heard that some trustees look forward, as well, to look at your ability to pay.
So now I'm sort of pondering my options, which are:
1) Move ahead with the Chapter 7, anyway, and see how it goes,
2) Settle with my creditors and just pay them back, or just ignore them (which may result in lawsuits and/or wage garnishment), or
3) File Chapter 13 instead (which would basically eat up all of the disposable income that my wife and I have and prevent us from working on some other financial goals, such as saving an emergency fund).
I guess I'm looking for some input from everyone. Does it make sense to settle my debts and just pay them off, even if I could file for Chapter 13 and get them paid off with no interest even if I had to pay 100% back? Or is it better to try for the Chapter 7 and see how it goes?
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