I have learned so much about bankruptcy from you guys. I started coming here a few months ago with the intentions of filing then but chose to wait because of the things I learned here. Let me tell where I am today.
I live in New Jersey
salary is $85,000
Single mom with 2 children (daughter freshman in community college, no financial aid I pay the bill and son in high school)
I have a home with $246,000 first mortgage - payments to date with credit union
2nd mortgage $26,000 - two months behind with credit union
CC and installment loans - close to $90,000 all of which have not been paid since July/August. Last used credit cards in July. Amex Vof 7 years was on its way out.
Own investment property in Texas - $80,000 paid $105,000 for it in 2000, but hard time selling because it has structural damage and the market is terrible in the area where the house is. No real equity here.
over $40,000 student loans - which I know cannot be discharge via bankruptcy.
My attorney said that with expenses I probably could qualify for chapter 7. However she never told me about the 70/90 day or preferential treatment rules that I learned from here.
Okay here is my dilemna I won $3,200 ($500 back in my daughters savings account, paid electric bill, cell phone bill, water bill, bought my son some sneakers and paid car insurance) last week from the lottery and I now I am concerned how this will affect the bankruptcy. Other issue - the credit union called and emailed me regarding my equity loan and I felt compelled to return the 50 calls they made. I told them that I can pay them $300 towards my $800 outstanding balance next week and then bring the account to date next month. I did this because I believe that my equity (2nd mortgage) account has to be current to file chapter 7.
I am afraid that I may get pushed to chapter 13, but I am having a hard time staying current with my bill while I am not paying the credit cards, I don't know how I did it before.
Your thoughts and recommendations for good bankruptcy attorney in NJ are greatly appreciated.
I live in New Jersey
salary is $85,000
Single mom with 2 children (daughter freshman in community college, no financial aid I pay the bill and son in high school)
I have a home with $246,000 first mortgage - payments to date with credit union
2nd mortgage $26,000 - two months behind with credit union
CC and installment loans - close to $90,000 all of which have not been paid since July/August. Last used credit cards in July. Amex Vof 7 years was on its way out.
Own investment property in Texas - $80,000 paid $105,000 for it in 2000, but hard time selling because it has structural damage and the market is terrible in the area where the house is. No real equity here.
over $40,000 student loans - which I know cannot be discharge via bankruptcy.
My attorney said that with expenses I probably could qualify for chapter 7. However she never told me about the 70/90 day or preferential treatment rules that I learned from here.
Okay here is my dilemna I won $3,200 ($500 back in my daughters savings account, paid electric bill, cell phone bill, water bill, bought my son some sneakers and paid car insurance) last week from the lottery and I now I am concerned how this will affect the bankruptcy. Other issue - the credit union called and emailed me regarding my equity loan and I felt compelled to return the 50 calls they made. I told them that I can pay them $300 towards my $800 outstanding balance next week and then bring the account to date next month. I did this because I believe that my equity (2nd mortgage) account has to be current to file chapter 7.
I am afraid that I may get pushed to chapter 13, but I am having a hard time staying current with my bill while I am not paying the credit cards, I don't know how I did it before.
Your thoughts and recommendations for good bankruptcy attorney in NJ are greatly appreciated.
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