What to do... different advice given!

[cash]

My fiance and I have a home together that we want to surrender thru chapter 7 and to eliminate our unsecured debts too. So far I have seen two attorneys lately to find out what my options are. First guy tells me he could "back" me into a chapter 7. Whatever that means! The second opinion was a lady who tried to convince me to stay in my home during the FC process and pay off my unsecured debts and deficiencies from two repoes and possibly a 3rd repo. She said if I really want to do a chapter 7 then I need to move out of the FC home at the same time I file so that it shows that I am spending my money on another place to live and not pocketing much during the chapter 7. I thought we could stay in the home during the FC and file chapter 7 to surrender the house and eliminate the debt. Was the lady attorney accurate or not?

[tcreegan]

Hi Cash,

No, you have not seen enough lawyers. Keep going....find one you feel is competent and you are comfortable working with them. As the ol' saying goes; you have to kiss a lot of frogs before you find your prince. So far you have two toads.....

In the meantime, post your state and round numbers on your financials, we will chime in, maybe give you questions to bring up to the lawyers.

Tom in Colo

[cash]

I am in FL (34639).
Household of 3.
I Gross $3440 a month or $2495.70 net a month.
Fiance gross $530 a week or $431.00 net a week. She was laid off 4/09. Been working the whole time just not making as much pay.
Owe $217,000 on home, probably worth $140,000.
Mortgage $1785 a month, includes insurance and taxes. No HELOC or Second mortgage.
Home is in foreclosure, was just served 9/14. Last payment made 3/2010.
HOA payment is current. $155 every 3 months.

We will file seperately.
I owe Discover $1500.
I owe Amex $5400.
I owe Visa $1000.
$5000 Signature Loan I defaulted on.
Toyota Rav4 repoed, defiecency of $9000. Jointly owned.
Honda motorcycle repoed, defiecency of $4000.
Nissan truck payment $630, two months behind on. Do not want to keep it. I have an old van I bought for $850 last year that I drive.
I want to file chapter 7.

[keepmine]

Well, when you interview lawyers, ask questions if you don't understand what they're saying. Noway any of us can tell you what he meant by "back you" into a Chapter 7 without some background.
First step is fill out schedules I and J and see if you have any disposable income to fund a 13.

http://www.legalconsumer.com/bankruptcy/means-test/index.php

This is good represenation.

[tobee43]

cash...we not exactly in the same situation as you, however, we did leave our house...although we absolutely did not have to...

we did file our bk in florida...and not the state we had the house in. it was in foreclosure when we left it 2 years ago...and it's NOT even for sale as yet...we still could have been in the house...there anyway...i do not know how quickly florida is moving on getting people out...i think not too quickly.

however, with a family of 3 i'm certain you are leaving out additional daily expenses that eat you up. i for one was in SHOCK down here in florida the food cost was over twice what it was where we came from. honestly....when i put my food money on the petition it was using my old food budget money.... the trustees office thought it was for clothing because it appeared SOOOOOO low for food but too high for clothes....we laughed because i told the trustees office they were looking at the wrong line. they asked us how we ate on so little...

you need to find yourself another atty for certain. the one we found in florida was excellent.

[AngelinaCatHub]

Cash, all good advice above. You are netting near 4K a month combined. Your bills certainly put you under, but without offset of some of that money, your spendable money may put you into a C13 which in my opinion is not a new start but a three to five year sentence.

Yes you can live free in that house until the Sheriff moves you if you wish. This could be up to three years. In FL the houses are folding like leaves falling in winter. I live in Northeast FL. It is better for the house to be protected by occupancy and the banks know this.

I would C7 if possible. Since you are not married, I do believe you have to file separately anyway. Take the means test separately and then jointly see how it folds out. You may just have to get married. LOL. I'm in the vote to find a good bk lawyer. One that is or was a Trustee is better in my opinion as they would certainly know what not to do wrong. 'Hub

[AngelinaCatHub]

accidental double post.