New here - Chapter 7 ?'s

[outtadebt]

I am in the process of scheduling a C7 consultation. A close friend of mine (who is filing C7 herself) has given me some advice on her experience thus far, and I have a referral to her lawyer. I know to live off cash as much as possible, and to not drop any hints to creditors who will be included in the BK. We have a car loan that we are planning to exclude, and we rent, so there really aren't any assets aside from household stuff. My DH and I will be filing joint, and we have $40K+ in debt, and will qualify for C7 on the Means test.

I'm curious about the process, what documentation I should have, and want to know more about reaffirming on the car loan. I would appreciate your advice/good wishes as we begin our journey to get free from debt!

[MomIcantFindmy]

Generally when you make the appointment the receptionist will tell you what to bring to your consultation. I made sure I brought accurate numbers relating to the past 6 months of income and debt. Start a list of questions you have for the attorney now and by the time you have your appointment you will be well prepared. I also looked throught this board and asked questions I saw here that applied in my situation.

Good Luck and welcome to BK forum.

[PaKettle]

Ask your attorney but most attorneys don't recommend reaffirming on a car loan these days, you just do a "ride through" which means you just keep paying on it and its not in their best interest to repossess as long as you make on-time payments.

Sounds like you are set for an easy Ch. 7, and you already have a good attorney so you can probably just sit back and relax and wait it through.

As to documents you will need the last 6 months of wage receipts or proof of income, (gross), anywhere between 2-6 months of checking account statements, your social security cards and drivers licenses, your last 2-3 years tax returns (copies or proof of filing from IRS) and that's about it.

[Phillymanhere]

Well, you don't necessarily have to bring anything to your consultations.
But I could make a few suggestions. One concern of the lawyers I met with was my list of monthly expenses. Even if you qualify for chapter 7 via the means test, you still have to show that you have less than $100 left over at the end of the month. So a list of monthly expenses could move the conversation along. Don't worry if you have more than $100 left over, you can make adjustments and the attorney will guide you in this. (Most people forget to pro-rate clothes and shoes and auto repairs and occasional trips, entertainment, etc.)
Also, copies of all your credit card statements, though most will take your word for it.
Also, have you taken any cash advances or had any balance transfers in the past year? If so, give the date and amount. Large cash advances present a problem if taken recently.
The more info you present them at the initial meeting, the more detail you will hear as they lay out the logic of your case and what the next best moves would be.
Also, ask if you can refer calls to them once you pay a retainer. Most allow this, but some don't. Referring calls to them takes some of the hassle out of creditor phone calls.
Just listen and see if the person seems sharp and if this is someone you would feel comfortable dealing with.