Meeting with attorney friday

[bowlingmt]

We are meeting with an attorney on Friday to discuss filing. The paralegal said we will probably have to go 13. We have approximately 100K in unsecured, 70K mortgage, 3500 car loan and 3500 camper loan. We are one payment behind on car and house, 4 behind on cc. We also own our own business. Most of the unsecured debt was what we lived on while working on our business.

I work PT from home, making about $1600 month. We have no "taxable income" from the business yet because of depreciation, etc. but if we take away the depreciation, amortization, etc. it amounts to about $20,000 year.

I don't care if we have to give the camper back (value about 10K, less 3500 we owe).

i am worried that we won't be able to get a 13 because our income may seem to low - ($1050 mortgage, 650 car (but paid off in November)

Do you think there is any hope for us :-)

We can catch up on our mortgage next month and file a 7, but I am concerned because of the business - we don't want to lose it, or we have no income!! The business has a net worth of 0 right now becuase of the business mortgage, etc. It is an LLC.

Thanks in advance.

BowlingMT

[KevinR]

I had a somewhat similar situation, but I was closing down my business and didn't care what happened to it.

If your business owns assets that may be a problem. Don't really know, and I would recommend talking to a BK lawyer that has a good track record of handling business BKs as well as personal. There's different rules for business stuff. Although I *think* that since you're an LLC you could file personal BK and not affect the business at all. But don't quote me on that, I'm not sure.