Chapter 7 Question

Thinking about doing Chapter 7. Already turned in paper work 2 days ago for 13. My attorney, is trying to push me towards 13. If I do 7, I will have around 300 left each month. If I do 13, I will have around 800 a month left, and that after paying what they guess would be my payback each month. If I do 13, they are just going to take the rest of the 800 anyways. So would it not be better to do 7? In the past year I have had to spend almost 3000 on home repairs that were unplained, and really worried if something happens like this again? How am I supposed to plan for this? This part reason I got into the problem i am in now. Not the only reason but part of it. Also have been told my job might not be around next year, not for sure, but it might happen. So I am thinking calling on monday and change it to chapter 7. Also own a car, house, 2nd mort. all payments are current.

I did a balance transfer from one card to another. Was 900. This was done back in may will this be a problem?


Also did a cash advance, about a month ago of 300, to pay for car repair, otherwise I was not able to get to work.

Been using 1 other card, for my month exp. paying other util bills, repairs, food, mostly so I could get by each month. that avg from 800 to 1500 a month. Each month it due in full because it amex card. Right now I am behind about 800 on it, but have not used it in over a month. Only one single item that was large about 60 days ago that was around 450...

my attorney has to go over all my paper work and get ready to file. They have to call me and go over it before they do so. I am thinking I should change to chapter 7. Any advice?

Thinking about doing Chapter 7. Already turned in paper work 2 days ago for 13. My attorney, is trying to push me towards 13. If I do 7, I will have around 300 left each month. If I do 13, I will have around 800 a month left, and that after paying what they guess would be my payback each month. If I do 13, they are just going to take the rest of the 800 anyways. So would it not be better to do 7? In the past year I have had to spend almost 3000 on home repairs that were unplained, and really worried if something happens like this again? How am I supposed to plan for this? This part reason I got into the problem i am in now. Not the only reason but part of it. Also have been told my job might not be around next year, not for sure, but it might happen. So I am thinking calling on monday and change it to chapter 7. Also own a car, house, 2nd mort. all payments are current.

I did a balance transfer from one card to another. Was 900. This was done back in may will this be a problem?


Also did a cash advance, about a month ago of 300, to pay for car repair, otherwise I was not able to get to work.

Been using 1 other card, for my month exp. paying other util bills, repairs, food, mostly so I could get by each month. that avg from 800 to 1500 a month. Each month it due in full because it amex card. Right now I am behind about 800 on it, but have not used it in over a month. Only one single item that was large about 60 days ago that was around 450...

my attorney has to go over all my paper work and get ready to file. They have to call me and go over it before they do so. I am thinking I should change to chapter 7. Any advice?

Hi,

Based on the numbers you posted, it appears to me that filing a Chp 7 would be more fiscally sound, than doing a Chp 13. You're gonna want to refrain from using any credit for at 90 days prior to filing for BK; but refraining from the use of credit for six months prior to filing is the ideal way to go.

But if you desperatlely need to use credit just to make ends meet for everyday life, e.g. gas, food, shelter etc......don't worry about it. Just keep all your reciepts and credit card statements! Just do not, I charge any luxury or non-essential items with your credit cards prior to filing for BK 7. 99.% of the times, you wont have to repay the debt, because it was made to simply survive.

Good Luck! :)