Before we see a lawyer

[holycrap]

Is there anything i need to do? I have had a call and it appears i meet the criteria, for a CH 13, based on what she said and what i have read.

Should i stop paying monthly CC bills? should i move money from savings? should i use the cash saved from not paying CC's to build a fund?

should i sell assets that may end up being taken? I sthis even a question i should be asking?

[MSbklawyer]

Is there anything i need to do? I have had a call and it appears i meet the criteria, for a CH 13, based on what she said and what i have read.

Should i stop paying monthly CC bills? should i move money from savings? should i use the cash saved from not paying CC's to build a fund?

should i sell assets that may end up being taken? I sthis even a question i should be asking?

Just wait to see your lawyer and ask him these questions. Write your questions down so you don't forget any.

More than likely, your lawyer will advise you to stop paying CC bills. But don't do anything until he's had a chance to analyze your financial situation.

[holycrap]

Just wait to see your lawyer and ask him these questions. Write your questions down so you don't forget any.

More than likely, your lawyer will advise you to stop paying CC bills. But don't do anything until he's had a chance to analyze your financial situation.

Thank you. I think that is the best course. I just wanted to know if there are certain things i should be doing that my lawyer won't be able to suggest.

[MSbklawyer]

Thank you. I think that is the best course. I just wanted to know if there are certain things i should be doing that my lawyer won't be able to suggest.

No, if your lawyer can't suggest it, then you don't want to do it. You're in TX so you've got a good exemption statute.

Good luck.

[eddiep]

Is there anything i need to do? I have had a call and it appears i meet the criteria, for a CH 13, based on what she said and what i have read.

Should i stop paying monthly CC bills? should i move money from savings? should i use the cash saved from not paying CC's to build a fund?
no, no, no

should i sell assets that may end up being taken? I sthis even a question i should be asking?

It is okay to sell assets, but any assets sold or transfered in the two years before you filed will be questioned. If you sold a car and got fair market value and used the money for daily expenses (stuffing your mattress is not a daily expense) you will be fine but you will have to report it so don't try anything shadey. I don't know how much debt you are trying to discharge, but you have to look at like, if I lose a $5000 car to the trustee to get rid of $???,??? in debt it is worth it.

You really should consult with an attorney before you make any financial decisions at this point.

[holycrap]

It is okay to sell assets, but any assets sold or transfered in the two years before you filed will be questioned. If you sold a car and got fair market value and used the money for daily expenses (stuffing your mattress is not a daily expense) you will be fine but you will have to report it so don't try anything shadey. I don't know how much debt you are trying to discharge, but you have to look at like, if I lose a $5000 car to the trustee to get rid of $???,??? in debt it is worth it.

You really should consult with an attorney before you make any financial decisions at this point.

The amount of debt is substantial, to us anyways. we only own two cars and one happens to be a very old corvette. I am going to need to get another car before we file and i would like to use the old car as a way of paying for one i can drive for at least 5 years. i love the vette, but it is not practical.

[eddiep]

That sounds like a good plan but again check with your attorney before you do it. I don't know a lot about cars but I imagine an old vette can be valuable. Just remember an asset is an asset whether it is in cash, old car, new car. Just make sure that you can exempt it. it is also acceptable to take on a new loan for a car and you can use the payment to keep you ch13 payment down if you do it before you file.