Tons of questions

[DeadBroke]

Have been reading these forums for awhile now and have a few questions, I owe about $30,000 in C.C. and signature loans. I am behind on three C.C.'s one for $16,000 and one for $6,000 5 months each. I am between jobs and I am supposed to be starting a new job here in a few days, alot less than I was making six months ago. I am current on the house maybe like a couple of thousand in equity in the house, and would like to keep it.

1. My girlfriend lives with me she gives me $500 a month for utlities and the mortgage, her name is not on any of the utilities or mortgage but she does get mail here at the house. How would that money come into effect in a Chapter 7 ?

2. How much does employment come into play at a Chapter 7 especially if I want to keep the house and my one vehicle (owe more than what its worth)? I am still looking for a higher paying job then what I just got.

3. What kind of assets are they going to want and take, I have a old car that doesnt run but I have tags for it. The title says I payed $100 for it would they want that? What about household items? Like furniture, I bought a couch last year on a C.C. but payed it off and closed the account would they want stuff like that? I am worried because my girlfriend has alot of stuff in the house and I wouldnt want them to take her stuff.

[HHM]

(1), How long has she been living with you, but if she is receiving mail there, just list your "portion" of the expenses that she shares with you, and in the notes section of Schedule J, just mention you have a roomate that shares some expenses.

(2) Its important if you have to make payments on secured debt. If you can stay current on the payments, you are fine, if not, then you could lose the item of property.

(3) This will depend on your states exemption law. Most property of the debtor, like household furnishings, etc, so you won't have to worry about them taking the property.

[DeadBroke]

Thanks for the answers, I see Ohio allows a wildcard exemtion what exactly is that? Can it be used for anything? Such as my beater car that I payed $100 for?

[HHM]

Thanks for the answers, I see Ohio allows a wildcard exemtion what exactly is that? Can it be used for anything? Such as my beater car that I payed $100 for?

I don't know Ohio law specifically, but yes, a wild card exemption can be used for anything. Its usually best used to protect a possible Tax Refund, or like in your case, a second car that wouldn't normallh be exempt.