Just needing some advice

[okiemom2008]

stop paying anything you want to give up in the bankruptcy. No point paying it if you are doing bk. I just stopped paying CCs and mortgage. Will be missing our first payments shortly. But won't be filing till January at least. Only because we have to meet residency requirements first.

about homes... i have no idea about that. we are moving and deserting our house so it hasn't mattered to me.

Ok, so basically just quit paying them since you are going to anyhow. I just hope they do not call the "nearest relative" that we put on all those loan apps.

[hopeforus]

stop paying anything you want to give up in the bankruptcy. No point paying it if you are doing bk. I just stopped paying CCs and mortgage. Will be missing our first payments shortly. But won't be filing till January at least. Only because we have to meet residency requirements first.

about homes... i have no idea about that. we are moving and deserting our house so it hasn't mattered to me.

[okiemom2008]

Your student loans won't be discharged so would there be a point to that? I'm not sure.

If you don't want the car just surrender it in the bankruptcy.

Ok, that makes sense! Thanks alot.

I am going to a consultation soon to figure out what to do. Do you still pay your bills until the discharge goes through? How do they go about selling your homes?...do you have time to get things out of them before they take them?

[hopeforus]

Your student loans won't be discharged so would there be a point to that? I'm not sure.

If you don't want the car just surrender it in the bankruptcy.

[okiemom2008]

I completely forgot about this...I have a 6500 student loan-private student loan that my mom co-signed on. Would I need to see if I could get her off the loan before I filed?

Also, on the only vehicle we have. We pay 560 a month for 5 more years. We bought it a year ago for 30k...but it is only worth 14k now according to car lots...It is financed with Chrysler Financial. Would the repo this or try to get us to keep it? We realize we cannot afford it now and would be better off with old cars without a loan on them

[hopeforus]

Then you should be ok anyway. The lower your income the better.

[okiemom2008]

for the means test you just use the average of your last 6mos. Don't worry what his future income may be. If you think his income is going to get higher then file sooner. Do you mean in Feb he will be making less money?

Yes because around the holidays the money is better because people are spending. After Christmas it slowly tapers off and summer is not good at all.

[hopeforus]

for the means test you just use the average of your last 6mos. Don't worry what his future income may be. If you think his income is going to get higher then file sooner. Do you mean in Feb he will be making less money?

[okiemom2008]

After doing your expense part what do you come up at?

And I know what you mean. I don't exactly want anyone knowing either. I know my grandmother will prob say "you should have..." Ya know... we didn't plan to have my husband injured twice at an army school and sent home without pay and unable to work and unable to collect anything. I just feel like we don't have to justify anything to those who will be rude about it. Set up boundaries and don't let anyone cross them. Even family. Tell them you refuse to talk about it if they try to get snotty about it. You are an adult... no need to need validation from your family if you feel you are doing the right thing

Ok I did it again and it is hard to say because our checks are so random...Right now they would pass the limit or be a little under but February-August they would be way less....My husband makes 100% comission so it is hard to say.

[okiemom2008]

The Trustee will ask if you sold anything or gave anything away. They are trying to find "money" for the Estate.

Ok, so if I cannot sell them to family or give them to family or keep them, what is my other option? I don't get it?

[okiemom2008]

If you have too much left over income, you could be forced into a chapter 13

Before the BK we will have 0 left over but after the bk because we have no bills we would have alot left over. Not sure if they track you after the bk...

[Chrisi18]

And I was figuring numbers and if we filed and everything was gone...our bills would be so low and we would have alot of extra money that we have never had. We would save it to buy a house for cash and not have any debt. But would they track every thing we did with our money (because we would put it in a bank somewhere) from now on??

If you have too much left over income, you could be forced into a chapter 13

[hopeforus]

After doing your expense part what do you come up at?

And I know what you mean. I don't exactly want anyone knowing either. I know my grandmother will prob say "you should have..." Ya know... we didn't plan to have my husband injured twice at an army school and sent home without pay and unable to work and unable to collect anything. I just feel like we don't have to justify anything to those who will be rude about it. Set up boundaries and don't let anyone cross them. Even family. Tell them you refuse to talk about it if they try to get snotty about it. You are an adult... no need to need validation from your family if you feel you are doing the right thing

[okiemom2008]

[QUOTE=hopeforus;213113]No... I don't blame you. If you will make nothing after day care anyway there is no point. I couldn't do it either. I would have to be able to make enough money to make it work sending him to daycare at all.

I think you just have to accept that you will lose some privacy when you file. It's part of it Bankruptcy isn't a walk in the park and honestly I don't think it should be. I think if it was easy to do then it would be easy to get back here again. It sucks but it's just part of it you may not be able to avoid.

As for what will go away... have you done the means test to do if you would be Chapter 7 or 13? Yes, it does depend on your income. You need to do the expense part of the test to see. Do you pass under the income level for the first part?[/QUOTE

The privacy thing should not be important to me, I know. But the way my family is they will throw it in our face from now on. I can just see us in 10 years having something nice and them saying that we only got it because we failed and filed bankruptcy. This doesnt bother my husband but it does me...I don;t know why


I did the means test. We make more than they say at the first.

[hopeforus]

No... I don't blame you. If you will make nothing after day care anyway there is no point. I couldn't do it either. I would have to be able to make enough money to make it work sending him to daycare at all.

I think you just have to accept that you will lose some privacy when you file. It's part of it Bankruptcy isn't a walk in the park and honestly I don't think it should be. I think if it was easy to do then it would be easy to get back here again. It sucks but it's just part of it you may not be able to avoid.

As for what will go away... have you done the means test to do if you would be Chapter 7 or 13? Yes, it does depend on your income. You need to do the expense part of the test to see. Do you pass under the income level for the first part?