A friend just called me telling me she is filing for BK. She has 2 cars paid off that are worth $6,000 and $12,000, all paid. I think one belongs to her teenager but they are both paid off. She has a Money Market Acct for $10,000 and an ING for another $10,000. She has credit cards in the amount of $35,000....and a house that is underwater by $100,000. Her house payments are too high and she is a single mom with 3 kids on a teacher's salary. Does she qualify for Chp 7? Can she use the "wildcard" in CA?
Thanks
Thanks