Can I file for Chapter 7
Here is our situation, We have about 80,000 in cc debt. Probably more with late fees and intrest. We stopped paying them about a year and a half ago because we just couldnt make the payments anymore.We bought our first home and it needed alot of repairs. Then with the new mortgage payment we just couldnt pay anymore. Also, we ran out of credit fixing the house and transferred balances to my mothers ccs to free up money on ours to finish. Now we have about 30,000 on her ccs and are still making those payments about 600 a month. My husband works for himself doing carpentry work and other home repairs. We dont keep very good records at all. A little over a year ago we filed back taxes 2000-2006. He has one employer he works for quite alot and he gives him 1099 every year. Thats what I went by and had receipts for materials and added some income from other odd jobs. Now we are paying irs 110 a month and owe them 8200.00. Also we have one default judgment against us and they gave that employer garnishment papers. since he has not worked for him in a while and is considered contract labor,not to worried about that. I am however worried that they will put a lien against our home. We got another summons the other day. I talked with a BK lawyer and he said he needs a P andL statement for the last year for each month. I have no clue how to do this. Like i said I have some material receipts and the bank statements. I know that we cashed some checks and did not deposit them. Have no clue how much. Can they find that out? Also on the tax returns do they go back and look at bank with the last 2 years or anything. We had 2 boats and and signed them over to his father a few months ago because we owed him money and couldnt pay him. He resores boats and resales them to make a living. It all seems very overwhelming and do not want to get into any trouble. He makes about 40,000 a year and we are current on our home and my moms ccs . Any advice would be greatly appreciated. Thanks!
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I cannot help with all the questions, but I will say that even if you do claim a BK7, you will still have to pay the taxes and continue to pay on the CC's for your mom, unless she files a BK. Also, you signing the boats over, looks like fraud and they will defiantely question that. Especially, that it is a family member. Why didn't you try and sell them on your own and pay off some of the cc's? As far as the checks that were cashed, it that amount of money on your books? See the problem that I think you are going to have is, it looks like you are trying to hide money etc., being you cannot produce any paperwork. Your husband is in his own business and you guys have no paperwork to show? Gesh, i really do not know what to say. You might be able to negioate with the IRS on what you owe. I know you cannot discharge that. What did your attorney say when you told him that you cannot produce the information that he needed and about your signing 2 boats over to your father-in-law and about your transferring your cc debt to your mom? Don't you keep any books on what he brings in and what he pays out?? Goodluck hon.... -
Its not really a business, he doesnt have any employees and generally works for one man and he is considered contract labor. He also does odd jobs. The boats were signed over to his father because of the debt we owe him.Comment
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