Hello everyone!
I'm very thankful for this forum, and would highly appreciate any help towards my situation.
I'm at a younger age than some people here (24) and have a bit of a hard situation on my hands, I'll do my best to explain and see if I can be given of any advice before going to see a BK attorney.
1st off I used to be a loan officer when the real estate market was good, but soon after the crash I moved into the field of insurance. During the down time of the industry and also the time of switching my jobs, I got myself into a foreclosure of my condo and about 35K of debt (credit cards, unsecured line of credit, etc). My first 5 months at the new job I made $2,000 a month because the owner is a relative of mine and said she will help me as much as possible for a while, then go from there. Well now I'm told my pay will be cut to $1,000 a month...
It's fine with me because I'm learning, but even with $2,000 I was hardly making it. I will be waiting for 6 months before filing, and I can keep things current with the help of family and friends. At the time of filing, I will have to include all my debt, and auto lease into the BK.
Will the trustee understand my situation with the $1,000 a month income? Do they care that I'll be on this pay for about 12-18 months while I learn the ins and outs of the business, then apply for an insurance license? I don't want to file my BK then get rejected for some odd reason like the trustee telling me to go get another side job or something.
BTW I'm waiting for 6 months because
1. I have many recent transactions on my credit cards and line of credit totaling to about $5,000.
2. I need to close my current bank account and open a new one without my girlfriend on there.
3. I read somewhere here that they want to see 6 months of decreased income or something...
I'm very thankful for this forum, and would highly appreciate any help towards my situation.
I'm at a younger age than some people here (24) and have a bit of a hard situation on my hands, I'll do my best to explain and see if I can be given of any advice before going to see a BK attorney.
1st off I used to be a loan officer when the real estate market was good, but soon after the crash I moved into the field of insurance. During the down time of the industry and also the time of switching my jobs, I got myself into a foreclosure of my condo and about 35K of debt (credit cards, unsecured line of credit, etc). My first 5 months at the new job I made $2,000 a month because the owner is a relative of mine and said she will help me as much as possible for a while, then go from there. Well now I'm told my pay will be cut to $1,000 a month...
It's fine with me because I'm learning, but even with $2,000 I was hardly making it. I will be waiting for 6 months before filing, and I can keep things current with the help of family and friends. At the time of filing, I will have to include all my debt, and auto lease into the BK.
Will the trustee understand my situation with the $1,000 a month income? Do they care that I'll be on this pay for about 12-18 months while I learn the ins and outs of the business, then apply for an insurance license? I don't want to file my BK then get rejected for some odd reason like the trustee telling me to go get another side job or something.
BTW I'm waiting for 6 months because
1. I have many recent transactions on my credit cards and line of credit totaling to about $5,000.
2. I need to close my current bank account and open a new one without my girlfriend on there.
3. I read somewhere here that they want to see 6 months of decreased income or something...
Comment