Filed Chapter 7 yesterday, now what?

[moneywoes]

Me and my husband met with our attorney Saturday and filed for Chapter 7. I have a few questions:

#1-When he figured up how much we make monthly and then subtracted our bills that we will have AFTER the BK, he said we make too much money and there will be too much left...and the courts would request that we not file OR do a 13......we don't want a 13. So he asked us a few more questions and probed for some things that we had left out, like birth control that we pay for and tithes to church, etc. Then he said he had it to where it would work. My question is....are we still at risk for our case being dismissed because of this? He said he crunched the numbers and it worked, but I don't want them saying there are things on there that are unneccessary.

#2-We have no valuable assets to give up. We have 2 vehicles, we are surrendering one of them. Other than that, we have nothing other than our household furnishings. Will the trustee come to my house? If so, what do they look for?

Thanks!

[HRx]

Hi,

What is your DTI (Debt to Income) Ratio? The most that'll happen is you'd be offered a Chp13, and if you don't want the 13, your case will be dismissed.

-Todd

[moneywoes]

I'm not exactly sure of the ratio, but I know that when he subtracted our bills from our monthly gross there was about $500 left. That's when he asked us if there was anything we were leaving out so I mentioned that I pay $25 a month for a perscription and we pay $20 a month for an oil change because I have a really long commute to work, then we tithe $160 a month, and I also have a chronic health condition that causes me to see the Dr. frequently.....After all this, he said he got it down to about $75 that we will have leftover every month.

I should mention that our attorney is in the top 15 best lawyers in Baltimore..so I think that if he had any doubts about our situation he would have told us up front that a Chapter 7 wasn't going to work.

I'm probably just thinking about every little thing that could go wrong, because lately that has been my luck!

[HRx]

As long you can validate all your monthly expensives (if asked to) you should be able to move forward with your Chp 7 petition, and not be recommend for a Chp 13. Based on the numbers you presented, you've demonstrated insolvency.

Good Luck!