Hello all.
I'm thinking I may need to file for Chapter 7. I'm way behind in credit card bills(about $17k worth of debt) and it's really getting to me. I want to get rid of it since I don't think I can ever pay it back. I don't make as much money as I used to, which is why I'm in this situation and I wanna start over.
Question 1. I have a truck that my Mother co-signed on. I have kept all payments up to date and wish to keep paying on it since it will be paid for in about 2 years. When I file, will this go on her credit as well as mine? Her name is on the note 1st and mine 2nd. I don't want it to go on her credit at all.
Question 2. Assetts. I have virually none. I've already sold most of my assetts on Ebay to make ends meet. I have the usuals like furniture, tv, clothing, a couple of video game systems, etc. I don't really have any other assetts except a 78 trans am that is completely dissassembled. I was going to get it running again because it was in bad shape when I bought it. Will they go after that since it's a junker and in pieces? My Dad paid for the majority of it but it's in my name. I also have in my name a trailer that he bought. It's his trailer but we put it in my name. What exactly, if anything will they go after?
I hate to have to do this because I've always had good credit until I lost my job and couldn't find another job with the same income. I just feel this is the only solution but I don't want it to affect my parents in any way. Is there any way around that?
I'm thinking I may need to file for Chapter 7. I'm way behind in credit card bills(about $17k worth of debt) and it's really getting to me. I want to get rid of it since I don't think I can ever pay it back. I don't make as much money as I used to, which is why I'm in this situation and I wanna start over.
Question 1. I have a truck that my Mother co-signed on. I have kept all payments up to date and wish to keep paying on it since it will be paid for in about 2 years. When I file, will this go on her credit as well as mine? Her name is on the note 1st and mine 2nd. I don't want it to go on her credit at all.
Question 2. Assetts. I have virually none. I've already sold most of my assetts on Ebay to make ends meet. I have the usuals like furniture, tv, clothing, a couple of video game systems, etc. I don't really have any other assetts except a 78 trans am that is completely dissassembled. I was going to get it running again because it was in bad shape when I bought it. Will they go after that since it's a junker and in pieces? My Dad paid for the majority of it but it's in my name. I also have in my name a trailer that he bought. It's his trailer but we put it in my name. What exactly, if anything will they go after?
I hate to have to do this because I've always had good credit until I lost my job and couldn't find another job with the same income. I just feel this is the only solution but I don't want it to affect my parents in any way. Is there any way around that?
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