I posted this in the main forum, but this area seems to have more traffic, so...
I live in Michigan, which has very strict exemptions...so this is my dilemma: I am married, but would be filing myself because all of our $20,000 in CC debt and about $1500 in medical is in my name. I have been a homemaker/stay at home mom for about 2.5 years, therefore do not bring in any income.
My husband's income is $50,000 year, so the household would qualify for straight chap. 7.
My concern is our assets. We don't have a lot, but I just don't want to lose what we do have. My husband owns one vehicle ('01 Ford Escape), which we do not make payments on. My name is not on the title, but it is valued at about $4500, which is over the limit for MI and Fed. He also has another car that he leases, but we plan on continuing to pay on that.
Our other assets, such as two Mac computers, which DH uses for work and church, I have some photography equipment that was purchased for around $1500, and some sewing machines and fabric valued (again, purchased at) around $1200. That does not including our furniture, clothes, etc. We rent our home, so the appliances are not ours.
I don't really want to lose my belongings, because I am trying to start business with both areas, but I have no proof of income for either. I do use the sewing machines for volunteer work, though.
Does anyone know how that would work for being over the household exemptions, but only having me file?
I live in Michigan, which has very strict exemptions...so this is my dilemma: I am married, but would be filing myself because all of our $20,000 in CC debt and about $1500 in medical is in my name. I have been a homemaker/stay at home mom for about 2.5 years, therefore do not bring in any income.
My husband's income is $50,000 year, so the household would qualify for straight chap. 7.
My concern is our assets. We don't have a lot, but I just don't want to lose what we do have. My husband owns one vehicle ('01 Ford Escape), which we do not make payments on. My name is not on the title, but it is valued at about $4500, which is over the limit for MI and Fed. He also has another car that he leases, but we plan on continuing to pay on that.
Our other assets, such as two Mac computers, which DH uses for work and church, I have some photography equipment that was purchased for around $1500, and some sewing machines and fabric valued (again, purchased at) around $1200. That does not including our furniture, clothes, etc. We rent our home, so the appliances are not ours.
I don't really want to lose my belongings, because I am trying to start business with both areas, but I have no proof of income for either. I do use the sewing machines for volunteer work, though.
Does anyone know how that would work for being over the household exemptions, but only having me file?
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