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    Couple Questions will be filing soon.

    On schedule F, I have multiple accounts with different lenders like Navy federal, do I need to list each individually or once and put the total. On the statement of Intention, I want to pay and stay in my home, I put retained and pay and stay, do I claim my home as exempt or non exempt, I owe about 350k and it is worth about $250, or do I leave that blank?

    #2
    You should list EACH account and you should mask the account number. You need to list the balance for each account as well (as close as possible). Don't forget to mask by using an "X" for every digit but the last 4 digits of the account. (Example: account no is 123-456789, so you'd put 123-45XXXX on the schedule).

    As for exemptions, I never give direct advice on this topic. I believe that Washington allows both Federal or the State exemptions. You will need to decide which is better. Since you have no equity in your home, then you can still exempt it, but there would be "nothing" to exempt, but would still put in on Schedule C and exempt it under the appropriate exemption statute (Federal or State). But the exemption claim would be listed as $1. (It's really just a strategy to still exempt it in case the Trustee finds issues with the title and tries to sell it free and clear.)

    As an aside... after your discharge, you may want to see if any of the principal reduction programs are available for your home. Unless your mortgage payment is less than rent in your area, it is difficult for me to justify staying and "paying".
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

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