I'm waiting to hear back from my attorney and I'm just really anxious right now. Any information people have is greatly appreciated.
We stopped paying credit cards in about May of 2006. In Oct. 2006, I attempted debt consolidation through ACCC (a reputable agency) long story short, that didn't work out. We decided to file for bk in Jan 2007. We retained an attorney and referred almost all the creditors to the attorney (I forgot some people and after a while I just stopped answering the calls. I know I need to just hand them over to the attorney, not sure what is holding me back). We've been hanging by a thread since January, and finally have enough to pay the rest of the attorney fees and file.
I have our tax returns for the last two years, will get copies to the attorney tomorrow. I have our credit report and am compiling the list of creditors/addresses/amounts. Should have that done by tomorrow too. We have one car lease we'd like to reaffirm, and it is current. The other car is a junker no one will want anyway, but it's paid off. We are going to surrender the house, I have not paid september or October's mortgage. The pay stubs from work is not an issue, and I have a very detailed list of our expenses according to what we actually spend. Because we have been living so close to the edge for so long I just don't have certain items budgeted (clothing, entertainment, etc) because we really don't spend it. But, obviously we NEED to have them as part of the budget. How do I figure out what is a reasonable number to put in the budget? We will do the pre bk credit counseling tonight (I started it already). What else do I need?
Once I get everything to the attorney what happens (I know he can tell us that but our last meeting with him was in January and I've just put a lot of it out of my mind till now because I knew we couldn't afford to file anyway)?
Some concerns:
1) I need to stay in the house without paying the mortgage for Sept, Oct, Nov and Dec. I want to be able to move Jan 1st. From what I have read, this is a fine conservative estimate if we file in the next 3-4 weeks. Can someone who has done this recently just affirm that even in the current climate with the crack down of lenders on forclosures I really will have that much time?
2) How hard will it be to get an apartment to rent? Clearly we won't pass a credit check, but we have to rent something! I'm willing to pay a double deposit or have my sister co-sign for us if that is what it takes. Will someone refuse us even then? We have been in our house 2 years and have spotty payment history on the mortgage. We've been late a lot, but September is really the first time we just have not paid at all. We have excellent renting history for 2 years (joint) me 5 years (single) prior to the house.
3) My credit score until 2 years ago was about 720, then my husband lost his job a month after we bought our house, our daughter was only 4 months old so I hadn't gone back to work yet, etc. Anyway, I have about 10 years of really good credit history up until 2 years ago. How hard will it be to rebuild it?
4) Has anyone had to pay past due property taxes on a home if you surrendered it?
I'm sorry this is so long, it's just that now that we are finally ready to move forward, I want to hurry up and get it over with already, but I also want to make sure we have all our ducks in a row.
We stopped paying credit cards in about May of 2006. In Oct. 2006, I attempted debt consolidation through ACCC (a reputable agency) long story short, that didn't work out. We decided to file for bk in Jan 2007. We retained an attorney and referred almost all the creditors to the attorney (I forgot some people and after a while I just stopped answering the calls. I know I need to just hand them over to the attorney, not sure what is holding me back). We've been hanging by a thread since January, and finally have enough to pay the rest of the attorney fees and file.
I have our tax returns for the last two years, will get copies to the attorney tomorrow. I have our credit report and am compiling the list of creditors/addresses/amounts. Should have that done by tomorrow too. We have one car lease we'd like to reaffirm, and it is current. The other car is a junker no one will want anyway, but it's paid off. We are going to surrender the house, I have not paid september or October's mortgage. The pay stubs from work is not an issue, and I have a very detailed list of our expenses according to what we actually spend. Because we have been living so close to the edge for so long I just don't have certain items budgeted (clothing, entertainment, etc) because we really don't spend it. But, obviously we NEED to have them as part of the budget. How do I figure out what is a reasonable number to put in the budget? We will do the pre bk credit counseling tonight (I started it already). What else do I need?
Once I get everything to the attorney what happens (I know he can tell us that but our last meeting with him was in January and I've just put a lot of it out of my mind till now because I knew we couldn't afford to file anyway)?
Some concerns:
1) I need to stay in the house without paying the mortgage for Sept, Oct, Nov and Dec. I want to be able to move Jan 1st. From what I have read, this is a fine conservative estimate if we file in the next 3-4 weeks. Can someone who has done this recently just affirm that even in the current climate with the crack down of lenders on forclosures I really will have that much time?
2) How hard will it be to get an apartment to rent? Clearly we won't pass a credit check, but we have to rent something! I'm willing to pay a double deposit or have my sister co-sign for us if that is what it takes. Will someone refuse us even then? We have been in our house 2 years and have spotty payment history on the mortgage. We've been late a lot, but September is really the first time we just have not paid at all. We have excellent renting history for 2 years (joint) me 5 years (single) prior to the house.
3) My credit score until 2 years ago was about 720, then my husband lost his job a month after we bought our house, our daughter was only 4 months old so I hadn't gone back to work yet, etc. Anyway, I have about 10 years of really good credit history up until 2 years ago. How hard will it be to rebuild it?
4) Has anyone had to pay past due property taxes on a home if you surrendered it?
I'm sorry this is so long, it's just that now that we are finally ready to move forward, I want to hurry up and get it over with already, but I also want to make sure we have all our ducks in a row.
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