We are ready to file Chapter 7. With the great help here I am nearly through the forms etc. All of our personal property falls under the State exemption guidelines.
Except - we have been trying to sell an old Travel Trailer (non-exempt) for over a year without any takers. Then last week we got an offer and accepted it - about $4,000.
The Elias/Nolo Bankruptcy book says it is OK to sell non-exempt assets and pay your regular monthly bills with the funds (pg 64-67). This is what we plan to do. I will carefully document every step and disclose on Form 7.
What are the wise opinions here about the following:
- How quickly can I spend this money on regular, necessary items and then file? I am SOOO tired of thinking about this, and I am nearly ready to file. Will the court slap me if I spend this money and file this month?
- These are some of the things I plan to pay. Any thoughts are appreciated:
1) Our real estate taxes are due. We will not be able to pay them if I don't use this money. I planned to pay only the first half (1,300) that is due in February - but maybe it would be "cleaner" if I paid it all now (2,600 total is due by June).
2) My husband has been putting-off dental work on a cracked tooth probably about $800
3) February two mortgage payments total 1,340. (we have been scraping by and keeping these current without these "sale" funds).
If I only pay half of the real estate taxes I planned on also paying the Homeowners and Car Insurance premiums, utilities etc......
Any experienced advice would be appreciated.
Thanks
Except - we have been trying to sell an old Travel Trailer (non-exempt) for over a year without any takers. Then last week we got an offer and accepted it - about $4,000.
The Elias/Nolo Bankruptcy book says it is OK to sell non-exempt assets and pay your regular monthly bills with the funds (pg 64-67). This is what we plan to do. I will carefully document every step and disclose on Form 7.
What are the wise opinions here about the following:
- How quickly can I spend this money on regular, necessary items and then file? I am SOOO tired of thinking about this, and I am nearly ready to file. Will the court slap me if I spend this money and file this month?
- These are some of the things I plan to pay. Any thoughts are appreciated:
1) Our real estate taxes are due. We will not be able to pay them if I don't use this money. I planned to pay only the first half (1,300) that is due in February - but maybe it would be "cleaner" if I paid it all now (2,600 total is due by June).
2) My husband has been putting-off dental work on a cracked tooth probably about $800
3) February two mortgage payments total 1,340. (we have been scraping by and keeping these current without these "sale" funds).
If I only pay half of the real estate taxes I planned on also paying the Homeowners and Car Insurance premiums, utilities etc......
Any experienced advice would be appreciated.
Thanks
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