2 questions: own business and Lawyer! HELP

[doglover]

Hi. My husband tried to start up his own business and in the beginning it was doing ok but for last 6-9 months it has done AWFUL (that's why we are here). Well after 6 months or so can he try again? What happens if he does really good, do we have to give more money to the trustee? How do we report it? When we did all our paperwork we put that he did have a business but not any longer.

Second question or I should say concern is my attorney and or case manager........ We file next week and she said she will be doing "ours" today and Monday but she left at noon today and will 1 day be enough time for her to do what she has to do for our case?????? Our actual filing date is Wens. the 12th. What will we do at that appointment? After we "file" what will the trustee do then ? I'm starting to really REALLY worry about this. I asked her about 4-5 times in the past 2 weeks about our house payment and car payments and she tells me the same thing, "don't pay them, when we file then I'll tell you due dates and how much etc..." I know she does this all day everyday but it's a huge deal for me and my husband but she dosen't act like it's a big deal at all. I have now missed 4 house payments and haven't received anything on foreclosure but it's just an awful feeling, ya know. What happens if for some reason trustee says no they can't file becuase of the property in another state or my husband still having his tax/employee ID number and they might think he is still in business? UGH....I'm driving myself crazy. Ok, that was more then 2 questions, sorry. I really need some reassurance or something here, my mind keeps thinking about all the what if's. Biggest fear is that for some reason we can't file? Is that possible? Attny told me that if we weren't able to file or something looked suspect they (attorney) wouldn't go forward because they don't want to waste our time, their time or trustee time. What do you all think? Thank you so much!

[papa0881]

as far as the business goes, i see no reason why you cannot start a biz up while in bk....13 that is... we own a large landscaping firm, reason we filed was we owned a few subways that crashed a few years ago and got behind on bills....

i do have one thing to tell you about business.. it goes up and down one day you get 15 calls next day 0 next week 100 calls a day next month 5 thats business, not trying to be rude by saying this but if you cannot take the stress then you should not be in it, there are days that i am like screw it, they can come and tak4e everything days i love it, but im sure when i am 40 i will be doing great, our landscaping firm has only done 1.5 the past few years this year so far 1.5 so we will deff break our goal....

one biz you dont want to get into is subway!!! no go!

[lrprn]

Hi. My husband tried to start up his own business and in the beginning it was doing ok but for last 6-9 months it has done AWFUL (that's why we are here). Well after 6 months or so can he try again?

A few questions first, DL....are you both filing Ch 13? What state are you in? Do you have kids or other adults living with you? What's your combined gross income from all sources over the last six calendar months?

Starting up a new business in a Ch 13 is very difficult because your husband cannot take on any new debt without your trustee's permission. If he gets the trustee's permission, he is not going to find funding at decent rates - he may not find funding in an active Ch 13 at ANY rates.

What happens if he does really good, do we have to give more money to the trustee? How do we report it?

In most districts, the trustee wants to know if your income increases more than 10% over your filing income. You report it by telling your lawyer who notifies your trustee. Most trustees will want copies of your taxes every year you're in the Ch 13 plan, so you can't hide a big income increase. Ask your lawyer what to expect in your situation.

...will 1 day be enough time for her to do what she has to do for our case?????? ... I know she does this all day everyday but it's a huge deal for me and my husband but she dosen't act like it's a big deal at all.

Although our own financial situations seem totally horrible and unique to us, bk lawyers have seen and heard it all. Everything you've told us is heard in every bk lawyer's office anywhere in the US every day. If you've given your lawyer what she or her paralegal needs to plug in the numbers in her bk software filing program, it doesn't take very long to complete the forms. To ease your mind, be sure to go over every single line to make sure they are correct. That's your ace in the hole. Don't sign if anything doesn't match what you know is the right amount for income, loans, etc.

I really need some reassurance or something here, my mind keeps thinking about all the what if's.

We've all been where you are right now - the awful feeling of stress and fear is very normal. Hang in there! Keep posting here and we'll help sort out what's reasonable to be scared about and what's just "pre-filing jitters"

[doglover]

Thank you both so much. I started a new thread about update.