chapter seven questions...

[floridian]

i am new here and am thinking about filing chapter seven, due to 35000 bucks in credit card debt....

i recieve disability income from my police job and ss disability.... i can pass the means test with my police retirement and i undstand that the ss is not a factor in the calculations.... but, could this put me in jepardy in the disposable income question?

[CompTweaker]

Find out Floridas statutes for the disposable income threshold, then calculate your bills. And there are limits to how much you are allowed to pay out each month for bills, but be sure to take full advantage of those limits. In your case, Im going to guess that you're probably ok. Read the sticky posts here and familiarize yourself with the bk process.....and take your time doing it, theres a lot of helpful info here....also along with many people who are willing to help.

[floridian]

i am at the point in my life, that i dont need the stress of creditors ringing my bell.... i figured that bk was the only way i can do this....two years ago i had a 720 fico score and now this...

i am current on all my bills, but the well is running dry...my neighbor was in the same boat and the cc companies would not deal with him, as far as payment relief..

here is the other situation: i live in a double-wide on a few acres of land... i had about 20k in equity before the housing thing started.... now i dont think much actual equity is left, but i couldnt sell it if my life depended upon it, due to the current market....
since am in trouble with the credit cards and filing bk, i figured i would walk away from the place and get out of this 2 horse town...
i was told that if i walked without the bk, the bank would give me a 1099 for the difference and i would be owing big bucks the the irs...
i have talked to a lawyer, but he is very abrupt with his answers, after all, its not him with his neck in the noose..
doesnt bk heal your credit sooner that fighting with the individuals?

[floridian]

another issue... a year ago i recieved a 30000 buck non-taxable settlement from an on the job injury that occured ten years earlier...the lawyer says that i must include this information in the bk... i thought that since it was a year old, that it was not an issue.. how could this change the outcome of the bk?

[floridian]

if i walk from my current residence with an ARM mortgage and rent a house that will cost 200 more bucks per month (i hate the town i currently live in) will my new rent be calculated as a living expense?