A few Questions...

[midlifecrisis]

Greetings,
I am in the process of interviewing BK attornies. A little about my situation: I'm married with 4 children. I will file seperately from my wife...she s not filing. I am the sole "breadwinner" I make about 65k /year. The house is in her name. My debt consists of about 36k in cc balances. I have several loans (3)thru my credit union. I have an RV loan thru another bank. My credit score is 755. I never miss a payment, however, it's coming. I am planning on filing before the s*it hits the fan.

My questions are:


I want to keep my primary vehicle...will my credit union "repo" that vehicle if I don't make good on the other 2 vehicles I have with them?

I have a motorcycle currently for sale which I owe the credit union about 5k on. Can I put any equity I have in the bike into my house for repairs?

Any advise or warnings about chapter 7 would be greatly appreciated...

Thank you!

[keepmine]

Do a search on this site using the term cross-collateralization. That's caused many a member some problems.

[midlifecrisis]

I don't have an active checking account with the cedit union...only 3 vehicle payments, and I will sell one of those & pay it off. I guess worse case scenerio is that they will want back both vehicles instead of allowing me to continue making payments on the one I want to keep...any thoughts?

[santadawg]

If you keep making payments you will be fine. All the loans become one, once your in default. If you keep paying on one loan when it's paid off they will not give you the title till all the loan are paid in full. That's what I was told.