Unemployed-everything I read here says to wait , Financial and Lawyer advise filing

[discouraged]

Thanks Tom - Yes, the job is better than nothing and who knows where it will lead to? I'm sure I got it because of my 6 month temp position at the County last year. I had a very good work reputation and they hated it when they were forced to let me go because of a hiring freeze. So this could lead to other positions - one never knows in government, especially in this economy. There is even talk of laying off long-time county employees.

I'll have to keep the cash for keys in mind. Right now I'm not talking to anyone until the bk gets started! I let them talk to the answering machine as much as they want to.

[kay9575]

My husband has been unemployed for 2 years. He has looked everywhere for a job to no avail. We have borrowed money from family to make the mortage payments. we are currently 2 months behind, BOA will be sending us a letter of intent to accelerate next month. If we file ch7 would we be able to keep our home?

[tobee43]

My husband has been unemployed for 2 years. He has looked everywhere for a job to no avail. We have borrowed money from family to make the mortage payments. we are currently 2 months behind, BOA will be sending us a letter of intent to accelerate next month. If we file ch7 would we be able to keep our home?

kay it's going to depend on many factors. the first thing i would do is the means test for alabama...and also look at the exemptions http://www.bkforum.com/wiki/Alabama

also, you may what to get a free consultation from an atty or two or three...see what they say. also, you may want to apply for a loan mod from boa...athough without a job, i don't know what chances you may have. one never knows, maybe the bank will work with you.

[discouraged]

BOA would not work with me at all. After submitting their paperwork numerous times, they said no as I was not working. And, they still have done nothing about the foreclosure, which is fine with me as I still do not have a job. But, thanks to them, it did force me to file and the relief of this almost being over is tremendous.

[tobee43]

BOA would not work with me at all. After submitting their paperwork numerous times, they said no as I was not working. And, they still have done nothing about the foreclosure, which is fine with me as I still do not have a job. But, thanks to them, it did force me to file and the relief of this almost being over is tremendous.

yes, something going through the efforts of the loan mods just delay the inevitable. however, for many, as you and i both REALLY know, it's so hard sometimes to come to that realization.

[JackBondLove]

You file when the time is right for you.
WHat exactly will you accomplish by filing bk right now when you're unemployed and have nothing anyone can take? You still have to support yourself post bk. What happens if you file bk now and 6 months later after discharge you have a serious accident or illness and have $10's of thousands of dollars in medical debt you can't pay and have already played the bk card.
DOn't get scared or bluffed into a premature filing.
Frankly, I'd suggest you pay far more attention to getting some sort of a job and getting a basic safety net under you. Bk will still be an option down the line.

But if he doesn't do a Chapter 7, and ends up saving some cash from his new job, all that savings would be subject to confiscation either through the debt lawsuit or if he were file Chapter 7.