Hey there, was looking for a little advice. First, I filed CH7 back in 2009. Due to a divorce I am in a situation where I may need to file again. Only this time it would have to be CH13 since it has not been eight years since the CH7. I defaulted on all my debt about 2 yrs ago after the divorce.. this included CCs, auto loans, LOC, student loans, etc. I also have a current installment plan with the IRS. I am finally getting sued and I suspect with the judgements, garnishments are soon to follow.
I make good money at $117k and currently rent my house. Here is where things get interesting. My little brother lives with me and has perfect credit but makes a fraction what I do. I basically put a roof over his head and help support him. As a return, he has allowed me to use his credit to get things over the years. These are not joint and solely in his name and include a car payment, personal loan, authorized user CC and a ATV loan. All these items are current. I know, dumb of me looking back and I am ashamed I have involved him. He did know my situation though so it wasn't like I duped him or anything like that.
I am wondering how these would play out in a CH13. Would I still be able to count these as my monthly expenses since I pay for them even though they are not in my name? I of course want to protect his credit at all costs and not be forced to sell what's in his name since he also uses them. But I am worried that could be unavoidable if I try and file and he couldn't afford them on his own. I wouldn’t be able to cover all this regardless of whose name they were in if I start to get garnished. Thanks!
I make good money at $117k and currently rent my house. Here is where things get interesting. My little brother lives with me and has perfect credit but makes a fraction what I do. I basically put a roof over his head and help support him. As a return, he has allowed me to use his credit to get things over the years. These are not joint and solely in his name and include a car payment, personal loan, authorized user CC and a ATV loan. All these items are current. I know, dumb of me looking back and I am ashamed I have involved him. He did know my situation though so it wasn't like I duped him or anything like that.
I am wondering how these would play out in a CH13. Would I still be able to count these as my monthly expenses since I pay for them even though they are not in my name? I of course want to protect his credit at all costs and not be forced to sell what's in his name since he also uses them. But I am worried that could be unavoidable if I try and file and he couldn't afford them on his own. I wouldn’t be able to cover all this regardless of whose name they were in if I start to get garnished. Thanks!