Met with an attorney today

[albacore44]

Well I met with an attorney today to go over my numbers. I have 110K in unsecured CC debt. $2800 house payment (upside down due to sliding prices and forclosures), $600 car payment and all the rest. I have been juggling by doing balance transfers, and bleeding cash reserves for a year now, My credit is still perfect but i see a train wreck coming soon which is why I looked for advice. I failed the means test by a few hundred bucks for chapter 7, so he told me I would qualify for a 13 at a bare minimum payment. Now here is the catch, which totally caught me by surprise. since my car loan is about a year or so from being paid off, he suggested i buy a car. The trustee will notice that my loan is close to being paid, and want to increase my payment when the car loan is paid. damn i was looking forward to paying that off. so he said it would be a better strategy to pay for a newer car for 5 years than pay that money into a 13 settlement. it all makes sense. i believe this guy knows what he is doing, he does BK's only, 30 years in practice. any comments are welcomed

[ready2puke]

After you buy a new car you think you'll be able to get a Chapter 7?

[albacore44]

After you buy a new car you think you'll be able to get a Chapter 7?

had not even thought of that. I need to scrub my numbers/timing and re-submit to the attorney to see if I can possibly qualify for a 7 under the means test. I really do not want to buy a car. I wanted to discharge unsecured debts through a 7, pay off car in a year, and learn to live paying cash. a chapter 13 plan with a car payment for 5 years just prolongs the pain of trying to get better