Here is the situation.....my mortgage and second mortgage along with all bills are current.....however....i have been using cash advances on credit cards to stay even...now with most of my credit cards doubling i am in the hole. i have no more available credit to keep this charade going...my house (2mtgs.), 2 cars and minimum paymentson credit cards equal more than my gross income about 5500/month vs 5000 income...also my wife just had a baby and can no longer work since daycare will be more than she earns.....I want to keep my house....can i even file? if i stop paying credit cards and let them charge off can they attach liens to my home???what can i do? any advice would be greatly appreciated
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yep here they come. change the laws, double the payments and screw the people just like we expected.
damn those credit card theiving scumbag creditors. just like they planned!
well, we would need more facts. but you need to take the means test. find the link around here somewhere. that will help see if you are a chap 7 or chapt 13 qualified. thats the first step.
remember that when you dont pay the credit cards anymore then that becomes disposable income that can be forced into a chapter 13.
yes if the creditors dont get paid, they can sue. most dont for a long time. then they win, then they file liens. i only had one sue and file a lien. go figure. i guess they could force you to sell your home etc afer all that but dont know what usually happens there. i know that then you go to sell your home then you have to pay them off first.Im not an attorney or a trustee. You cant trust me either though!
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Go to this website:
http://bankruptcy.findlaw.com/new-bankruptcy-law/
It'll explain the basics of the new BK Laws and it provides links to useful DOJ websites for info you'll need. The Means Test, income requirements, Approved Pre BK Credit Counselors and Post BK Educators, and lots of other stuff.
Oh, and BTW,......... Welcome to the club!!Filed Ch 7 - 09/06
Discharged - 12/2006
Officially Declared No Asset - 03/2007
Closed - 04/2007
I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.
Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...Comment
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