I'M SCARED. My lawyer just told me I have to file a Chp13...

[Justme79]

The assets can go, the money that they are assuming I'll get from the accidents can go, I just want to be FREE... period. Preferably a chp 7, but I'll take the chp 3 for 3yrs

I'm just ready to start.

[justbroke]

They can have the "assets", The legal assistant said it would be a 5yr plan... I would love for it to be a 3yr plan.

That doesn't make any sense unless they are saying that "while you are under the median income and are only required to submit a plan for 36 months, we suggest 60 months to spread out the payments."

If you're not concerned about the assets then just repeat that to your attorney. However should you need a Chapter 13 (to protect property and assets), then you'll need to consider the Chapter 13.

[Justme79]

They can have the "assets", The legal assistant said it would be a 5yr plan... I would love for it to be a 3yr plan.

I've read most of your posts justbroke , I'm learning so much about chp 13 from you, Thank you!

[justbroke]

Yes, they are saying I have $12,000 in unprotected assets (I told the assistant they could have them, I don't care) she also said my cash value on my life insurance policy is more than $1,000... It's $1,200

Just because you have non-exempt assets doesn't mean that you have to file Chapter 13. It just means that those assets are subject to liquidation by the Chapter 7 Trustee. You will need to decide if surrendering the non-exempt property is right for you or you'll need to do a 36-month Chapter 13 (since you're under-the-median income).

[Justme79]

Ps. I past the means test, I'm about $3,000 - $4,000 under (Miami, Florida)

[Justme79]

Good Morning,


"Again, we still have issues with the life insurance policy (the cash surrender value is still over $1k) and personal injury lawsuits. Plus, we cannot guarantee that the trustee will not want the money."

The above is from the legal assistant.


Yes, they are saying I have $12,000 in unprotected assets (I told the assistant they could have them, I don't care) she also said my cash value on my life insurance policy is more than $1,000... It's $1,200

I have (2) pending lawsuits for (2) car accidents, I told her I would cancel them or whatever I get, I'll sign over, hell, It's not guaranteed that I'll get anything. I was involved in (2) car accidents in less than a month, neither my fault, South Florida living... my BMW X6 is totaled. I will cancel the lawsuits, I just want my back to heal..



THANK YOU justbroke and shipo

I will update you after my meeting with the lawyer

[shipo]

Justme79, in addition to what justbroke said, ask your attorney about whether you should buy a new car prior to entering Chapter 13; take it from me, you do NOT want to go into a 5-year bankruptcy with an older car.

[justbroke]

Well the first question is, "what do you mean by $12,000 over in assets?" Are they saying that your Chapter 7 Liquidation shows that you have $12,000 in unprotected (non-exempt) assets? Are they saying that you are over-the-median income?

As for Chapter 13, if you're over the median then you'll be in a 5-year Chapter 13; otherwise a 3-year Chapter 13.

As for what questions to ask... any question that you like. Ask them what it will be like. What has it been like for other of their clients. Is it difficult. Try to get a personal sense of your attorney and what you can personally expect.

What did I wish that I new before filing? That I shouldn't have tried to protect my investment properties!

[Justme79]

Good afternoon,

I'm meeting with my lawyer this week regarding going from chapter 7 to a 13. I've been dealing with his assistant and I asked for a meeting with him directly as he assured me I'd be able to file a chapter 7, now his assistant is saying I'm $12,000 over in assets so I have to file a chapter 13.

What are some questions that I should ask him regarding chapter 13? What are questions you wish you knew before you filed and learned after?

Any input will be greatly appreciated. When I meet with him, I want to be prepared.

[Carmella]

In our chapter 13 my husband and I are both allowed $500 in credit each. We have not applied for any cards, though I have thought about it. We get offers in the mail.

I was able to get a new cell phone from my current carrier without a problem. The attorney said something like it wasn't considered debt because it's a payment plan (don't quote me on that exact wording, all I know is they didn't consider it debt). I also applied for something like "After pay" it is a payment plan for shoes I bought for my daughter as a present. I had 3 payments automatically deducted every week, it was approved no problem.

[sophieanne]

Justme79 - Don't be scared...most of us are nervous before we file. Once you file and collection calls stop you'll know you're on the road to financial recovery.I know it's hard, but take a deep breath and let the process start...before you know it, you'll be done. Good luck!

[Justme79]

shipo - Thank you so much for taking the time to reply. I'm scared. So scared. You and justbroke have been heaven sent.

Again, THANK YOU

[shipo]

justbroke - Thank you for your response. You have cleared up a lot of my concerns. As far as my income goes, I do have to contact the trustee when I receive raises, correct? & my taxes are taken every year?

I pretty much answered those questions above.

[Justme79]

justbroke - Thank you for your response. You have cleared up a lot of my concerns. As far as my income goes, I do have to contact the trustee when I receive raises, correct? & my taxes are taken every year?

[justbroke]

(I moved the posts to the duplicate thread. Please remember to open a new thread when you have new questions.)