Median, income vs expenses, etc. My plan:

[Joe Farmer]

I had a truly awful job. The mortgage, utilities, taxes, gas, etc. kept escalating- this house was costing me 80% of my income. I wondered to work more, just to break even? I decided no, I'm letting the house go so stopped paying that and the HOA fees. Since I now had no real expenses, I quit the awful job. I am living free, on my last couple paychecks, that will last a few months. I am mentally free, physically more fit now, have a few months of no income to alleviate any issue with the means test, and when I file I will have no income, so Scheduled I and J are also no longer any concern to me. AND to find that even if you file the lender STILL has to initiate foreclosure- that means even after I file, I will be able to live here FREE for several months, get a job post-341, and then truly start over. Comments? Anyone followed a similar 'path of least resistance'? This site is really amazing, more so when you have lots of free time to review the thousand's of detials involved now with filing BK, so THANKS~

[bmrigs]

I had a truly awful job. The mortgage, utilities, taxes, gas, etc. kept escalating- this house was costing me 80% of my income. I wondered to work more, just to break even? I decided no, I'm letting the house go so stopped paying that and the HOA fees. Since I now had no real expenses, I quit the awful job. I am living free, on my last couple paychecks, that will last a few months. I am mentally free, physically more fit now, have a few months of no income to alleviate any issue with the means test, and when I file I will have no income, so Scheduled I and J are also no longer any concern to me. AND to find that even if you file the lender STILL has to initiate foreclosure- that means even after I file, I will be able to live here FREE for several months, get a job post-341, and then truly start over. Comments? Anyone followed a similar 'path of least resistance'? This site is really amazing, more so when you have lots of free time to review the thousand's of detials involved now with filing BK, so THANKS~

Im doing it basically the same way. I havent paid the mortgage since Feb and I havent gotten served foreclosure papers yet. I was getting lots of phone calls from creditors and mortgage co but it has basically been quiet the last few weeks. The calm before the storm maybe. Once I get served then I will file ch 7.

[Joe Farmer]

I'm waiting for the 6 month post -tax refund to file.

To simplify it to the n'th degree, since some say it is income, some say not, etc. And I changed my phone number after the first call. Any suggestions on making it any simpler? It's been a year since I paid CC, and have gotten various pleas from lots of collection agencies to 'please pay us', etc. One creditor, for example, has used 5 or 6 different collections agencies. I have yet to receive anything that even approaches threatening or intimidating whatsoever, from any creditor, so I assume they are all simply overwhelmed with bad debt.

[Frogge]

Joe, I think it's good that you have a plan to really start over. That's pretty much what it's all about, I think. I would truly be all good if someone said, "Look, we'll wash away all this debt, but we're also gonna take all this stuff away, your house, cars, etc... but give you this job that should make you a good living. Go for it. Make your way."

[Help!]

Sounds like a plan. The only question I have is what you're going to put down as income on Schedule I. Everyone needs some source of money to live, to cover basic expenses. The trustee will want to see how you plan to live after your debt is discharged. Don't be misinformed about the trustee only looking at the financial snapshot on your petition and up to your 341 hearing... that is not always the case. The path of least resistance is honesty when you've filed and you're dealing with the trustee. I would recommend having some "thank you for applying" emails between now and your 341 hearing to show that you've been actively seeking employment if the question of your unemployment comes up.

[TEW]

Jo
I have the same attitude and I am doing the samething

[fltoo]

Honestly, I think you have a good plan.

[Joe Farmer]

My plan is using my last paychecks to last a few months.

After I file, and at the 341, my answer is that I am moving from this city, to start over, and that I won't have any idea of what the future will be until I move away. Also, my answer is that I am now out of money, so it's time to file and then move on. True, and simple. I will also admit to the trustee that I will stay in my house until it forecloses, as part of my plan, as a way to partially recover all the money I wasted improving it, since it would not sell, and now has really no value. I have no intention of lying about anything- it's not in my DNA code to be ABLE to lie. I'm using the system the law provided, ot benefit me the most I can, of course.