Chapter 7 BR exemptions?
Hi, I have been looking for a board like this for over a month now! It doesn't come up easily on search engines. Anyway, I will be seeing a lawyer for the 1st time tomorrow for my free consult on filing BR.
I don't think I could do a Chapter 13 but a Chapter 7 scares me. Would I lose everything. Florida's personal exemption is only $1000. Would they really come in and clean out my home of my things? What things exactly are considered assets. I know they won't take anything that is my daughter's but what about things that are mine that are hers too? The computer, the camera, the TV, the DVD player. The furniture. She uses it too. The dishes. I really can't find reference to these things. My bed. Florida's exemption for a vehicle is $1000. My 10 year old car is worth abt 3-4K and it's paid for. I need my car to work to get my daughter around. How does this all work? I'm just plain scared. I hope the lawyer that I speak to can clarify things more for me.
I hope this board provides more personal info so I know what to expect. I feel so scared. I've been praying for guidence if this is the right thing to do. I believe it is. I will someday pay off that debt, I just can't do it at this time in my life.
My story in short: A Debt Management program hasn't worked for me & when I contacted them for the 2nd month in a row to let them know I couldn't make my payment they wanted to put me into a Debt resolution program. I don't think that will be the answer. I just can't make ends meet after my divorce & now I have to fend for my own medical expenses (I was under Tricare prime - my ex is military). My ex was paying me an extra $100 in child support before the divorce but decided to listen to his lawyer & pay what the state figures. I'm now paying just over a $100 in medical insurance premiums thru my employer but the deductibles on my prescription meds are killing me also. I have Rx's that used to have deductible's of $3, $6, $9. They are now $10, $25, & $40 under my new insurance plan. All that used to be money that was paid to the credit cards. I just don't have it anymore, I've been borrowing from my retired parents the last two months just to make the rent, cause late fees & bounced checks have been eating up my free money also. I can't keep going like this.
I don't think I could do a Chapter 13 but a Chapter 7 scares me. Would I lose everything. Florida's personal exemption is only $1000. Would they really come in and clean out my home of my things? What things exactly are considered assets. I know they won't take anything that is my daughter's but what about things that are mine that are hers too? The computer, the camera, the TV, the DVD player. The furniture. She uses it too. The dishes. I really can't find reference to these things. My bed. Florida's exemption for a vehicle is $1000. My 10 year old car is worth abt 3-4K and it's paid for. I need my car to work to get my daughter around. How does this all work? I'm just plain scared. I hope the lawyer that I speak to can clarify things more for me.
I hope this board provides more personal info so I know what to expect. I feel so scared. I've been praying for guidence if this is the right thing to do. I believe it is. I will someday pay off that debt, I just can't do it at this time in my life.
My story in short: A Debt Management program hasn't worked for me & when I contacted them for the 2nd month in a row to let them know I couldn't make my payment they wanted to put me into a Debt resolution program. I don't think that will be the answer. I just can't make ends meet after my divorce & now I have to fend for my own medical expenses (I was under Tricare prime - my ex is military). My ex was paying me an extra $100 in child support before the divorce but decided to listen to his lawyer & pay what the state figures. I'm now paying just over a $100 in medical insurance premiums thru my employer but the deductibles on my prescription meds are killing me also. I have Rx's that used to have deductible's of $3, $6, $9. They are now $10, $25, & $40 under my new insurance plan. All that used to be money that was paid to the credit cards. I just don't have it anymore, I've been borrowing from my retired parents the last two months just to make the rent, cause late fees & bounced checks have been eating up my free money also. I can't keep going like this.
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