I am considering filing Ch. 7 and found this site. I got in this situation mainly from an addiction to online video sites that has been going on for years and just want a new start to get my life back together and enjoy things. This will probably be a long post, but I am hoping to find some people who might know these things as well as me looking through the site for info.
I am guessing Ch. 7 fits my situation, I am single, live in an apartment, have a paid off 10 year old car and other than a couple guitars and my computer, no real assets to speak of. I have a job that looks to be about the means of my state (left an old job due to my situation and stress and the new job is considerably less pay unfortunately). I have no savings (currently negative until Friday) and very little in my 401k at my new job (probably under 1k).
I did have a few specific questions to ask about my situation:
When I left the other job, I cashed out the 401k in January 2008 and used about half to pay off some of my debts while using the rest to pay rent and bills while looking for a new job. I spent some on my addiction as well. From what I was reading here, it looks like they go back the last 6 months of pay, so not sure if that cash out would affect things in any way.
I get reimbursed at my job for mileage, it varies by month, I usually go 3 or 4 times a month to another location using my car. Does that get factored in as income? How is that handled?
I currently rent with a roommate, the lease runs to end of February 2009 and I will probably have to get my own place at that time. I would like to stay at the same apartment complex I am now, but in a small one bdrm. You have to fill out an app in this situation with the complex. I will probably need to find a second job (which I dread because I did that for almost a year in 2007 and all it did was get spent more on my addiction instead of paying down my bills) to cover the requirement of earnings to rent amount ratio. I also looked and saw they allow BK only if discharged, so I am wondering if it would be best to try and get the apartment, then file after. Their app says they consider people with a discharged BK, but definite no on BK's not in a discharged status.
I have 5 credit cards (all closed with balances) I currently use a credit counseling agency on a couple credit cards, a couple cards with the credit card company using an arranged payments at lower rate and the last card just switched from being in an arranged payment plan to a regular rate and payment (it was a year long deal to help me out and get under the credit limit. I probably will put in CCCS plan). I am wondering how this would affect my filing and if I need to get in touch with the credit counseling before doing anything?
Sorry for so many questions, I hope to find many answers here to make my decision easier.
I am guessing Ch. 7 fits my situation, I am single, live in an apartment, have a paid off 10 year old car and other than a couple guitars and my computer, no real assets to speak of. I have a job that looks to be about the means of my state (left an old job due to my situation and stress and the new job is considerably less pay unfortunately). I have no savings (currently negative until Friday) and very little in my 401k at my new job (probably under 1k).
I did have a few specific questions to ask about my situation:
When I left the other job, I cashed out the 401k in January 2008 and used about half to pay off some of my debts while using the rest to pay rent and bills while looking for a new job. I spent some on my addiction as well. From what I was reading here, it looks like they go back the last 6 months of pay, so not sure if that cash out would affect things in any way.
I get reimbursed at my job for mileage, it varies by month, I usually go 3 or 4 times a month to another location using my car. Does that get factored in as income? How is that handled?
I currently rent with a roommate, the lease runs to end of February 2009 and I will probably have to get my own place at that time. I would like to stay at the same apartment complex I am now, but in a small one bdrm. You have to fill out an app in this situation with the complex. I will probably need to find a second job (which I dread because I did that for almost a year in 2007 and all it did was get spent more on my addiction instead of paying down my bills) to cover the requirement of earnings to rent amount ratio. I also looked and saw they allow BK only if discharged, so I am wondering if it would be best to try and get the apartment, then file after. Their app says they consider people with a discharged BK, but definite no on BK's not in a discharged status.
I have 5 credit cards (all closed with balances) I currently use a credit counseling agency on a couple credit cards, a couple cards with the credit card company using an arranged payments at lower rate and the last card just switched from being in an arranged payment plan to a regular rate and payment (it was a year long deal to help me out and get under the credit limit. I probably will put in CCCS plan). I am wondering how this would affect my filing and if I need to get in touch with the credit counseling before doing anything?
Sorry for so many questions, I hope to find many answers here to make my decision easier.
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