Am I able to file Chapter 7

[2bdebtfree]

Hi everyone,

My question is am I able to file Chapter 7 and keep my house?

I'm about $30,000 in credit card debt between my husband and myself.
My home has $60,000 equity.
We own 2002 Impala and 1996 Dodge Ram.
We have no other assets or money in the bank
I'm current on out payments at the moment.

I work fulltime and have 2 teenagers. My husband is unemployed and looking for work. We used all we had to keep payments current. Now there is no money left to pay credit cards.

I make $55,000 a year and after paying utilities and mortgage and food and other neccessities I have nothing left.

My other question is, to pay the lawyer, could I take out a cash advance now?

I don't know what else to ask. This is a big step and am nervous but am unable to pay creditors. Cars are paid off.

Thank you for responding.

[sunshinepa]

There are many factors to consider in answer to your question. Research this forum, take the Nolo Means Test and etc. to better determine you answer.

Absolutely you CANNOT take a cash advance to pay your lawyer. As I stated, read the threads in this forum regarding abuse, fraud and etc. I myself have acquired tremendous information from this forum....including rules on cash advances. This information has helped with my decision to file after letting some cash advances age.

Good luck and READ - READ - READ!

[2bdebtfree]

Thank you. I am reading. As I have no cash in the bank I am unable to pay for bankruptcy or credit cards.

I'm thinking of a way to get the money to pay a lawyer. I will look at the NOLO means test.

Thanks again.

[TEW]

Thank you. I am reading. As I have no cash in the bank I am unable to pay for bankruptcy or credit cards.

I'm thinking of a way to get the money to pay a lawyer. I will look at the NOLO means test.

Thanks again.

You can get the money for the BK and the lawyer after you decide if BK is right for you. You stop paying all the bills and for anything you don't plan to keep.

[keepmine]

We can't tell you if you can keep your house and cars unless we know your state. All states have different exemptions.
For sure, stop paying those cc's and use the money for legal fees.

[NoMoreCards]

We can't tell you if you can keep your house and cars unless we know your state. All states have different exemptions.
For sure, stop paying those cc's and use the money for legal fees.

Good Advice!! Many people pay their attorneys with money that normally would have gone for their CC's payments. I sure did!

[sah2]

You say your house has $60,000 equity but is that in the current market? We were able to prove that our house had gone down in value since we had bought it by having an appraisal (actually just a realtor's CMA) which showed us underwater, so it was non-issue.

[2bdebtfree]

I live is Massachusetts. I just refinanced my house in January and it was appraised at $60,000 more than what I owe. I just want to be debt free. The burden is so heavy. I just want to be able to sleep without worrying.