Like most new folks to this forum, I've been reading and researching the idea of filing bankruptcy. I've learned quite a bit but I'd like some opinions if anyone is willing to help. I'm a little emotional about the whole thing right now, so I want to see if I'm thinking clearly. We have a family of 3.
Current salary - $75,000/year
Current Debt:
CC - $58,000
Student Loan - $10,000
Mortgage - $160,000
Assets:
Vehicle 1 - $4,000
Vehicle 2 - $3,000
401K - $35,000
So, I basically have no equity in my home. My cars are paid for. And I have a whole lot of CC debt. I've completed the means test online and it looks like I pass the test. If I understand this correctly, I should be able to file chapter 7. If that's the case, is it safe to assume I can keep the house and both cars? I believe the answer is yes, but like I said, I'm a little emotional and not thinking clearly.
The only other assets we have are things like furniture, 1 TV, stove, fridge, clothes, etc.
I'm going to spend the weekend trying to pick a few lawyers to go see. But I could really use someone to give me an opinion if they think I could file a chapter 7 and keep house and cars.
Current salary - $75,000/year
Current Debt:
CC - $58,000
Student Loan - $10,000
Mortgage - $160,000
Assets:
Vehicle 1 - $4,000
Vehicle 2 - $3,000
401K - $35,000
So, I basically have no equity in my home. My cars are paid for. And I have a whole lot of CC debt. I've completed the means test online and it looks like I pass the test. If I understand this correctly, I should be able to file chapter 7. If that's the case, is it safe to assume I can keep the house and both cars? I believe the answer is yes, but like I said, I'm a little emotional and not thinking clearly.
The only other assets we have are things like furniture, 1 TV, stove, fridge, clothes, etc.
I'm going to spend the weekend trying to pick a few lawyers to go see. But I could really use someone to give me an opinion if they think I could file a chapter 7 and keep house and cars.
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