What happens if we can't do a 13?

[Lisa68]

We are getting ready to submit our paperwork to our lawyer. How long until there is an "official" filing? Is that right away, or after the plan has been made.

Also, we had initially planned to do a 13, but our income has dropped a lot and we are worried we will have to do a 7. Our lawyer says that if we are current on our house payment and there isn't much equity (both or true), we should be able to keep it. My concern is that we will have to liquidate our business which is our source of income, and also the only way I can get health insurance (group plan).

Any insights?

Thank you!
Lisa

[newbie2]

Frogger gave you a very good response in the other thread you created about this. Perhaps you missed it? Here is the link: http://www.bkforum.com/showthread.ph...e-the-business

[Lisa68]

Yes, I see that.

Can anyone answer the first part of my question? When does the actual filing happen?

Thank you,
Lisa

[papie]

What paperwork are you talking about? I turned in taxes and finances to our lawyer, he looked at our situation and created a plan (what to include in bk, approximate monthly payment, etc.)

THEN we went back in to sign the official paperwork to file bankruptcy and they electronically filed it the next day. That was the "official" filing.

If you have a good lawyer, he should be able to explain his process to you and tell you what he's going to do and more than likely how the court will respond before he officially files.

[Lisa68]

Thanks, that's what I needed to know.

It's been a while since we talked to the lawyer and went over all the details -- about a year. It's taken us a while to gather our financial paperwork. Yeah, we're losers.

[papie]

Thanks, that's what I needed to know.

It's been a while since we talked to the lawyer and went over all the details -- about a year. It's taken us a while to gather our financial paperwork. Yeah, we're losers.

Aw, don't say that, although I know it feels that way sometimes. It took me a year to even make an appointment with a lawyer, then another month to think about it, and we finally signed the papers a few days after the sheriff showed up to serve us a summons for a foreclosure. I was able to get all of our financial documents together because the banks were sending me new ones everyday in the form of threatening letters. I still hate checking the mail. It's like some kind of sick game I play everyday after work...what kind of wonderful letters will I get today! Then, even though we've been in our 13 for a while now, I'm always surprised there's not some kind of nasty letter in there. lol

Fun times in the papie house. *sarcasm*

[Lisa68]

Ha, yeah I hate checking mail too. Received a letter today from our lawyer that we have to submit our info in 10 days or pay a fee to re-open our file.

[jetsfan2010]

Once you pay your filing fee, your lawyer should be able to confirm the date your case is entered.