I have decided to file for Chapter 7. I own my home but live in a state where it is exempt so am going to keep it and am completely current on my mortgage. No other real assets. My issue is, I am worried that if I stop making payments to all my loans/credit cards/medical bills for 4-6 months prior to filing that they will put a lien on my home, freeze my bank account., or garnish my husband's wages. Up until now, I am still current on everything but only paying the minimums and it is eating up everything we have on top of needing serious home and car (one car for a family of 5) repairs.
For those with experience in this, how long does it normally take for creditors to go after your accounts, wages, or home? Do I have 6 months before I file to get the automatic stay. My highest debt is only $4150. There are just a ton of little ones. In reality, I need to wait until August to file because we are using a small bonus at work my husband gets for the filing fees and I need to use what little we get as a tax refund to fix our basement that *was* finished and got flooded. It was not covered in our homeowners insurance and one of my kids bedrooms was ruined. So obviously I need to put time between the refund for the home repairs and filing as well.
Any advice?
For those with experience in this, how long does it normally take for creditors to go after your accounts, wages, or home? Do I have 6 months before I file to get the automatic stay. My highest debt is only $4150. There are just a ton of little ones. In reality, I need to wait until August to file because we are using a small bonus at work my husband gets for the filing fees and I need to use what little we get as a tax refund to fix our basement that *was* finished and got flooded. It was not covered in our homeowners insurance and one of my kids bedrooms was ruined. So obviously I need to put time between the refund for the home repairs and filing as well.
Any advice?