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** Newbie filing - Need help! **

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    #1

    ** Newbie filing - Need help! **

    Ok, where should I start??

    Well, to make a long story short I owe about $65,000....

    Last year my company made $200K and I kept about $75,000

    This year I have made around $60,000 but now I have no more work coming in and only $23,000 left in the bank.

    Sooo now the sheriff comes to my house saying that if I don't pay off a judgement against me for $47,000 they will come into my house and get my goods.

    What should I do?? Everything in my house is PAID OFF! I have a 99 Land Rover worth $10,000..... everything else in the house is worth around $8000.

    With no more income, no job and such how can I file for Chapter 7 and get out of this? I am really scared..... not sure what to do. I guess I should have tried paying some back when I had the cash.

    Any help would be great!
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    #2
    If I were you I would seek immediate legal advice and help you determine what your options are. Most Bk attorneys have a free consultation.
    Stop the National Arbitration Forum! 99% of Hearings in Favor Against YOU!

    Avoid Agreements with Mandatory Arbitration Clauses.
    Don't Sign Away your Rights!

    Emergency Filing 1/20/06
    341 Hearing with 2 US Trustees Present 2/16/06
    3/1/06 Chapter is a GO!
    Expected Discharge 3/15/06
    awwww crappola

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      #3
      yes. use an attorney. counsel with 3-6 of them until you find one that will fight for you and that you feel comfortable with. once you do this call the office back and ask more questions. see how they handle the 'problem' you called them back about.
      Im not an attorney or a trustee. You cant trust me either though!

      [x] - Done with 341? Join the 60 Day Club! ___________[x] - Im Discharged! Whoo Hooo!
      [x] - Poll: Should I File Pro-Se ____________________[x] - New BK Law: Median Income, Means Testing and Presumptive Abuse
      [x] - Zombie Debt Collectors Dig Up Your Old Mistakes _-[x] - Bankruptcy Law Resource
      [x] - Need A Fast Answer? Available 24/7!--__________[x] - Dont Be A Hero On Your Budget - You Wont Get An Award!

      Comment

        #4
        You need to talk to an attorney yes and right away. And if what you say is true, it sounds to me unfortunately that you may be forced into a chapter 13 if you want to save what you have. Which is a bad idea. I can pretty much tell you that your case may rank a 9.5 out of 10 on the difficulty scale, and on top of that the new bk laws... Which only means its all the more important you shop around for attorneys, and try to weed out the salesmen from the real and wise ones.

        Comment

          #5
          Depending on what state you are, you may or may not be able to keep all your 'stuff' in a bankruptcy. How long ago did your income drop? The laws require that for a ch. 7, your average income over the past 6 months be taken into consideration. If you JUST stopped working, your average will be higher than if you have been out of work for a few months already. That may or may not be significant, depending on your family size & expenses.

          Consulting a few bankruptcy attorneys would be good, ASAP!
          Most of my information is from personal experience or HOURS and HOURS of online research. When you're searching online, keep in mind there is no guarantee that the info is completely up to date, and your situation is unique from anyone else's. Do your homework, and consult with an attorney so you can make an informed decision.

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