Bad sign?

[wannabedebtfree]

The lawyer's office called this morning and left a message for us to call because they after looking over things again they had a couple questions. One in particular about husband's supplemental pension plan. Said they needed to see a pamphlet or something on it. I called them back and she was with client, of course, so hopefully they will call pretty soon. I AM JUST FREAKING OUT NOW! He has $40,000 in his pension, which we thought was safe. It is all employer/union contributions, employee's don't contribute. Which I am wondering if they are thinking maybe we put a bunch of money in there to protect it. We explained at the first meeting that it was employer contributions, but they were really impressed with the amount. Maybe they just forgot and want to double check. Sorry I'm rambling!! I know filing bankruptcy is a roller coaster of emotions, but this sucks!! I'm just worried that if something doesn't work out we are going to lose everything and have wages garnished etc. I know I'm overreacting probably, but please send me some positive thoughts!!

[ducksinarow]

Sending postitive thoughts your way!!!!

[sunshine08]

I don't think they can mess with retirement. Hopefully Todd or someone else can give you a more definite answer.
I had to provide the details of my retirement and a friend that filed a couple years ago, had more than $45,000 in his and they didn't bother his. But please let us know, someone else might need to know.

[wannabedebtfree]

I will let you all know as soon as I find out. I'm hoping they are just getting everything in order ready to file. They had called earlier this week and said everything was ready to sign, and now this phone call. Just has me a little rattled. Our little nest egg is a bright spot in our future, and my husband has worked so, so hard to earn every penny. He's only 29. It's comforting to know that your friend had $45,000 and they didn't touch it.

[Minnymouth]

Most penisons and retirements are not bothered. Especially govt funded ones.......
An IRA may be a different thing because this is your own personal retirement/savings account.

Be patient, lawyers just doing some double checking to make sure, probably...... sure hope so for you....

Let us know,

Minny

[sunshine08]

I always say a few words of encouragement go a long way. It is always so easy to have negative thoughts when you are really hoping for some positive feedback. I hope the attorney calls back soon, so that will be one less thing for you to worry about.

[wannabedebtfree]

Well, I talked to lawyer's assistant. She said they might would try to take his retirement since it was such a large amount. Also, she said lawyer thinks with our income they might try to force us into chapter 13. We were wanting to surrender home, vehicles. Husband has found a new, less paying job, but we were going to move so he wouldn't have to drive so far. (Right now he commutes 3 hours day). If we did a chapter 13 are we going to be stuck here for the next few years? Would we be better off waiting to file when he does change jobs and is making less money? We don't have the money to pay our bills, gas is costing us so much. So we are going to start losing things one way or the other.

We have appt. to talk with lawyer this afternoon.

In a chpt 13 can you still surrender your home and vehicles?? we only have about $8000 in unsecured debt. We are upside down on vehicles and our home (1st & 2nd mortgage).

[Minnymouth]

Just a thought,

Check your retirement papers.............
See if you cannot draw until your 62 or 65 for any reason unless disability retirement kicks in.
Some pension plans cannot be drawed on in lump sums except at retirement.
Depending on pension source, trustee is sometimes in a postion where he cannot access the funds in a lump sum - only in a monthly payment and THUS puts him in a postion where it's not "worthwhile" to pursue.

Maybe you'll fall in the catagory and get LUCKY....
hope you do.

Let us know what your lawyer says - and check that fine print or call your pension board.....

Minny