Filing Next Week - Questions

[TML16]

Hi everyone. I'm new here and because I can't afford an attorney I'm filing pro se early next week. Most of this stuff is straightforward but I have a few questions about my paperwork and I'm hoping you can help.

On the Summary of Schedules page -- I took out two small loans on my 401k and I have the payments automatically deducted from my pay check after taxes. Do I list those payments under "Obligations to Pension or Profit Sharing and Other Similar Obligations" as well as on Schedule F?

On Schedule B - Personal Property -- I have a car that I'm upside down on that I want to reaffirm. Do I list it as an asset under line #25? Or do I have to have equity in it to do that?

Also, my father helped me pay my rent on time this month. He loaned me $350 and I wrote a check for the same amount three days later so I could avoid the $50 late fee and the "three-day" letter from my landlord. Do I have to list that under Section C of the Statement of Financial Affairs document?

Thanks in advance for your help.

[justbroke]

First, do you have a guidebook such as NoLo's guidebook? Second, what chapter of bankruptcy are you filing under? It makes a huge difference! Third, what assets do you have like home, car, RVs, boats, etc?

On the Summary of Schedules page -- I took out two small loans on my 401k and I have the payments automatically deducted from my pay check after taxes. Do I list those payments under "Obligations to Pension or Profit Sharing and Other Similar Obligations" as well as on Schedule F?

They do not go on Schedule F. Schedule F is for general unsecured creditors only!

On Schedule B - Personal Property -- I have a car that I'm upside down on that I want to reaffirm. Do I list it as an asset under line #25? Or do I have to have equity in it to do that?

Why are you going to reaffirm? Are you required to in your State and your Bankruptcy District? Are you current? You would list this on Schedule B, probably also exempt it on Schedule C, and on the Statement of Intentions, indicate your intention. (If this is all Greek to you, we have a lot more learning to do about the process.)

Also, my father helped me pay my rent on time this month. He loaned me $350 and I wrote a check for the same amount three days later so I could avoid the $50 late fee and the "three-day" letter from my landlord. Do I have to list that under Section C of the Statement of Financial Affairs document?

Will you still owe him once you actually file this? If so, then he is an general unsecured creditor and goes on Schedule F. He doesn't go anywhere else. A post-dated check is not "collateral" and doesn't make it a secure loan.

[TML16]

Thank you for replying, justbroke. I was panicked when I first wrote this the other night and I'm still feeling a little uneasy about it. I do not have the NoLo guidebook but it sounds like I need to buy it based on the posts I saw here.

Earlier in the week I had received a collections letter from what I now know is a bottom feeding CA within my state for a credit card under $2,800. I'm 1 yr, 11 months away from the SOL expiring. I'm afraid these bottom feeders might sue for wage garnishment but I have no assets. I rent and I owe money on my car.

In order to keep myself employed I took a different job within my company a year ago due to downsizing in my old department. I now make about 5k less than I did two years ago and I'm about 10k under the means test income amount for a single person in my state. I have money to pay rent, the necessities and food. The only secured and unsecured bills I can pay are my car and two small student loans, which I know are non-dischargeable. Everything else went to collections in 2009 and early 2010.

I know I don't have the disposable income to do a Chapter 13 so I'm looking at a Chapter 7. I can't afford an attorney so I'll have to do it pro se.

Here's some more details to my questions.

#1 -- I found out that answer after poking around the forums last night and I thank you for your response.

#2 -- I want to reaffirm it because it's my transportation to work. Public transportation doesn't take me within a mile of my home at night, which is when I get home from work. I owe about $4k. The value is a little less than $2300 per Kelly Blue Book and rated fair with 100k mileage. The payment history is late but never 30 days late. The loan on it will be paid off within 2 years. It's also the most reliable car I've ever had.

#3 -- I do not owe my father anything at this time. The nature of our loans was to avoid using a pay day loan company and their excessive fees and interest. I would borrow $xxx dollars and I'd hand him a post dated check he would cash on the day I got paid. In all but one case that date was within 14 days of the date I borrowed the money. Once I had to post date it 24 days out. All occurrences were to help me pay the bills I could afford (cable, rent, utilities, etc) on time or provide me with money to buy groceries and gas for the car. These loans against my future paycheck occurred seven or eight times during the past 12 months. None of the amounts were over $550 but the total amount for the past 12 months was $2,700. All monies were paid in full without any interest charged. It was more like I kept borrowing the same money when you think about it. I'd pay him back and then a week or two later I'd have to borrow again.

I hope this helps. I'm trying not to feel overwhelmed by all this.