Need Advice in NJ

[whatamess]

Well, so here I am. After weeks of loosing sleep I am thinking of filing for chapter 7 in a month or two. My husband wont let me contact a lawyer yet, so hopefully someone can answer a few questions.
We haved moved into my mothers home and are down to one car. Most of the items, about 99% belong to my mother in this home so her possessions are not in danger, correct?
Would I have to list EVERYTHING I own, like the childrens gamecube, gameboys, etc? They wouldnt want our cheap IKEA furniture anyway I assume. The only things we own at this point are a camcorder, car, some dvds and cds, and a Tv/dvd player. We are in bad shape.
How would the trustee know whats mine & what my mother bought? She is a person who keeps EVERYTHING and her home is loaded with stuff.
Also, I had a settlement of $20,000 last winter. The lawyer & Drs took all but $10,000 and I used the rest for CC payments. Would they try to get this money I dont have anymore?
We are well below the means test for our state, making about $38,000 as a family of four so we will be fine for chapter 7 with $30,000 Cc debt and hospital bills but I am worried. Worried because we dont have a mortgage or rent payment.
We had $10,500 three years ago for our car that was totaled. I put that money down on a new car and financed $14,500. Ive got $12,900 in the car now and the kelley blue book has it at $16,400 to sell on the lot. Will they want the equity? It is our only transport and means to survive. We want to keep it. I am also unsure as to what kelley blue book value to use. Nj allows around $2,400 per person I think in car value?
UGH! Im so confused. If we dont do this our only other option is a debt settlement program, as CCCS wants to much $$$ every month and we cant afford it.
Sorry for so many questions. This forum is so great, I cant imagine if I didnt find it. Everyone tells us we are horrible for considering this, we did this to ourselves (TRUE) but I dont need anyone telling me how awful we are right now. We are aware we messed up! We feel horrid, I cant eat and sleep and have enough stress.
Plastic is cut up!!! NEVER again!
WhatAmess!

[NJdotcom]

As far as the means testing and values, you could probaly find that information online if you search enough. Just take your time and read through it and you'll be able to sort out alot of your own confusion. As far as what other people say, who cares what they say. Its your life not thiers, if you need to do this to get your stuff in order, then I say do it. Sure it does mees up credit for a short time, but hey sounds like your credit is messed up already. Plus what business is it of thiers that you need to do this. I say you contact an Atty, find out your rights and complete the proces discretly. This way you can get your stuff in order and not lose all these friends of yours making these comments.,

[Minnymouth]

Sit down with an attorney for a free consultation..... find out what your options are, let atty know you are living with relatives right now.... etc.

See what they suggest as th best option for you............

Keep us posted

[LostOne0069]

Hey Whatamess! I can actually help you!!!

We just filed (REALLY just... today, 10/12) Pro-se (meaning without an attorney) and we have spent the better part of the last year doing research on bankruptcy in NJ.

The first thing I can pretty much tell you is to stop worrying. With the stats that you've given on income and posessions... you have absolutely NOTHING to worry about.

NJ lets you use either state or federal exemptions... I'm assuming here that you've lived in NJ for at least the last 2 years. If that is the case, then the federal exemptions let you use approx, $18000 worth of the homestead exemption as a wild card. It sounds like you don't have even close to that amount of assets... and that isn't by any means the ONLY exemption... you get more for cars and other posessions so you aren't likely to lose ANYTHING.

Please ask me any questions that you might have and I'll let you know what my research has turned up. I'm not a lawyer and can't give legal advice... but I can tell you what I found and where.

First though... relax. Really. Take a deep breath and relax. You're going to be OK and it's very likely going to be WAY easier and stress free than you think it is.

[whatamess]

Thank you thank you!!!

Thanks to everyone, I mean that really! I have this darn debt consolidation loan MBNA gave me 4 years ago and was four weeks late due to medical problems. They turned me into collection. They have been calling me every day. I paid them half of what I owe them for two months and they have left me alone so far today.
You see, I have citizinship but my husband is applying for it and is only a greencard holder. He is worried they will deport him over this...I told him if we can come up with the $$$ we can hire a lawyer who does both immigration & bankruptcy.
We have lost half of our income over the last few years due to loss of overtime & now I am home with two little ones and an elderly mom who will most likely not be able to live on her own ever again. Life threw us a curveball and will will have to deal best we can.
Dh wants to look for more work and or open a small business and I told him to wait. I want our situation to look as dire as possible.
I will have to hold out another month as I used the CC to buy clothes for a child that suddenly grew 2" & food.
LOSTONE0069 please keep me updated on your case. You filed by yourself? Im really bad with number crunching & book keeping, (thats part of why I am in this mess!)
Have you done your 'credit counseling' yet? if so where?
WhatAmess!!!

[LostOne0069]

LOSTONE0069 please keep me updated on your case. You filed by yourself? Im really bad with number crunching & book keeping, (thats part of why I am in this mess!)
Have you done your 'credit counseling' yet? if so where?
WhatAmess!!!

Yes, we filed on our own. We HAD an attorney, but he couldn't seem to figure out how to fill out the forms properly as we kept having to correct them and send them back... I would recommend that you talk to some attorneys in your area though. Most attorneys don't charge for the initial visit and even if you decide that you're going to file on your own, the information you get in those free consultations can really help.

The number crunching isn't all that hard. What helped me the most is we downloaded the demo version of "best case bankruptcy software" which allows you to fill out all the forms and does all the calculations for you... but will print out with "DEMO" on all the pages. We then took that information and transfered it to the regular forms. This seemed to work out really well for us.

You have to do the credit counseling before you file. We did ours online through cccs.org. It's very easy and quick to do.

Good Luck!