hope for me? New here w/ questions

[hopechange]

Hi all,

I am new here but have been researching threads for a while and I have a few questions.

I have been researching CH. 7 bankruptcy options, have not consulted an attorney yet, I like to be as informed as possible before taking that step.

General Info
I own 1 house, 1 car, and co-sign for a 2nd car for my boyfriend
nothing except the 2nd car has his name on it. About $20,000 in unsecured debt (thats a lot for me)

Plan to reaffirm the mortgage and 2 cars, through research I believe that is possible under CH. 7 and equity guidelines etc.

RE: the means test to see if you qualify for CH. 7. it looks like I am good for my state but its pretty close and will depend on a few factors

First
What is the definition of family size where bankruptcy is concerned?
I have 2 chilcren, 1 (a 12 year old) does not live with me he lives with a family friend out of state, I provide 90% + of his support financially and I have always claimed him as a dependent on federal tax returns, can I include him in my family according to the law?

Second
My boyfriend, daughter's father lives with me but we are unmarried, will they want to count his income because we live together? I have always been the bread winner in the family so he contributes very little in general. And if so, does that mean that he gets added as another "family" member as far as the census / income minimums are concerned? Is there any way to keep him off of this (should I make him move out )

Third
If I do add him as a family member and therefore his income is counted, do they count all of it or a percentage of it.

Fourth
I was fired 12/3 due to cutbacks / economy, so I was thinking to let this month end so that I have a lower income for the means test, makes sense right?

Fifth
I have a awful 10% interest predatory rate on my mortgage but would rather reaffirm that in a CH. 7 than have to deal w/ repayment plan and all that goes with that. I have a 6 month modification agreement to a 5% rate right now, do you think that will be negatively affected with reaffirming?

Thanks in advance!

[JRScott]

1) The number of people living in your home however related, you probably can count your son if you are paying 90% of his expenses even if he doesn't live with you assuming you have legal custody of the child. This is something you should ask a lawyer.

2) He would count as part of the household.

3) Yes in the means test you would include his income. However in the process you eventually remove all money that he does not put towards household expenses.

4) I would not look to file until such time as you have a job, without a source of income you will not be able to reaffirm the cars or home.

5) It shouldn't be so long as you can make the house payment and prove you can in the future.

[hopechange]

Thanks for your response. I do have legal custody of my son so I think we are fine w/ everything.

RE: #4 - I guess I am in a catch 22. It seems an unemployment is the best reason to file, although I was already hanging on by a thread living paycheck to paycheck. Are you saying that the problem would be reaffirming those debts because they won't count my unemployment compensation?

what should I do in the meantime, just ignore my revolving debt and pay my mortgage and cars only? That is where I am right now, I can't pay anything else. Just mortgage, insurance house and car, and car payment.

I'm really bummed

1) The number of people living in your home however related, you probably can count your son if you are paying 90% of his expenses even if he doesn't live with you assuming you have legal custody of the child. This is something you should ask a lawyer.

2) He would count as part of the household.

3) Yes in the means test you would include his income. However in the process you eventually remove all money that he does not put towards household expenses.

4) I would not look to file until such time as you have a job, without a source of income you will not be able to reaffirm the cars or home.

5) It shouldn't be so long as you can make the house payment and prove you can in the future.

[hopechange]

should I just file now and take a lower paying job before my hearing so that they let me reaffirm? I could just take something at a pay cut to make this work and then find a "real" job later, after my hearing???

Would that work?