Please read and help if you can... unique situation

[jimmydog]

[AngelinaCat]

Hi Jimmydog: welcome to the Forum. I'm not sure I can help all that much right now, as I really don't have any business experience of the type you describe. There are several other forum members that have small buisness and I am sure will chime in.

First, what state are you in? Knowing that will help.

[estreeter34]

Jimmydog:
Hopefully you will find some good attorneys that will help you out. I also have a small business and work from our home. I don't pay any rent back to us, but the trustee wanted my business P&L (which I had to make) and asked how long I was in business and what i grossed and netted. It went pretty well. Your case is different, but I would think a good BK attorney will be able to help you and give good guidance. Also, are you behind an payments? Just curious. It may help others with a similiar experience share their experiences as well.
Good Luck!

[AngelinaCatHub]

My goodness, other than ‘Jobe’ I don’t know much more than you could handle. I believe with what you stated, you could 7 easy. However after that, it would be difficult to get the same care for you child as you bk’ed on the medical. If he is doing better I think you could ‘ride throug’ your mortgage and get rid of the debt. Remember to plan ahead as you must be able to exist without that credit from the time of dismissal or you could find yourself in the same place down the road. See a good lawyer and keep watching here. ‘Hub

[ansky0007]

Your wifes business is just her income and if you owe what the house is worth there is nothing in it for the trustee to sell it on you. Do you have any additional assets? I have a home business and lawyer is telling me not to worry about the business because its my job and they will not try to take the business since there are no assets. What are your personal and business assets? We are also going CH7 and we have our 341 next month. Have you been able to keep current on the mortgage?

[jimmydog]

Hi Jimmydog: welcome to the Forum. I'm not sure I can help all that much right now, as I really don't have any business experience of the type you describe. There are several other forum members that have small buisness and I am sure will chime in.

First, what state are you in? Knowing that will help.

Thank you for the welcome. I'm in Illinois.

[jimmydog]

Jimmydog:
Hopefully you will find some good attorneys that will help you out. I also have a small business and work from our home. I don't pay any rent back to us, but the trustee wanted my business P&L (which I had to make) and asked how long I was in business and what i grossed and netted. It went pretty well. Your case is different, but I would think a good BK attorney will be able to help you and give good guidance. Also, are you behind an payments? Just curious. It may help others with a similiar experience share their experiences as well.
Good Luck!

No, I'm not behind on any payments including mortage. But in December I will not be able to pay credit cards.

[jimmydog]

Luckily I have insurance that will cover my son. Much of my debt was caused by insurance not paying on claims. They get away with this by saying Autism is a learning disability and not a brain disorder. Scums.

[jimmydog]

Your wifes business is just her income and if you owe what the house is worth there is nothing in it for the trustee to sell it on you. Do you have any additional assets? I have a home business and lawyer is telling me not to worry about the business because its my job and they will not try to take the business since there are no assets. What are your personal and business assets? We are also going CH7 and we have our 341 next month. Have you been able to keep current on the mortgage?

We have no assets accept a car worth $5,000. The business has no assets except the loyal customers. No excess cash in reserves with the business.

Yes, we're current on mortgage.

Good luck on your 341.

[jimmydog]