Does it matter if one spouse is not working when you file for bk? I have not worked outside of the home since my oldest was born 3 years ago. We also have a 18 month old, so for us the cost to put our kids in daycare full time vs the money brought in by my working wasn't worth it. I know many people aren't working when they file bk but I'm guessing they have medical issues or problems finding a job. Will me being home with 2 young children count against us in court?
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Don't worry, it will not matter.
For all the stress of BK, BK is relatively objective, mechanical process. There is not a lot of subjectivity involved. People who have never been through it tend to think that every aspect of their life will be judged...but in reality, BK is a relatively painless process. Most the work is done before you ever file BK, i.e. getting all the information and documents together for your attorney to prepare the BK Petition...after that, for a chapter 7, you meet with the BK trustee for about 5-15 minutes...who will ask you some very basic questions...and generally, that's it...after your meeting with the Trustee, you simply wait 60 days and receive your discharge.
Generally, you are not going to be asked, why did you do X instead of Y, or why aren't you doing A instead of B. At most, you may be asked what happened to get you to this point of declaring BK...but the rest of the questions are who, what, where, when, variety, (you will typically not be asked why). -
Try and relax. Your situation is played out in bk court all day long. Many couples only have 1 wage earner. Being a SAHM is nothing a bk trustee will find objectionable.Comment
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What a relief. Thanks, one less thing to worry about.Comment
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HHM is sooooooooooo right!!
For the years of Hell we endured, all the money and things we spent and sold trying to stay afloat, and it all boiled down to 5 minutes of the Trustee's time and "You paid huge taxes this year. You got a big refund last year. I want to see what a normal year looks like."Filed Ch 7 - 09/06
Discharged - 12/2006
Officially Declared No Asset - 03/2007
Closed - 04/2007
I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.
Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...Comment
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DO NOT worry about it!!!!!! we filed last year. I hadn't worked since 2003. I am home with my boys...childcare is OUTRAGEOUS!!! The trustee didn't care nor did he say anything! Don't worry....it will be fine!!Originally posted by Emmy View Post
Good luckComment
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I am a SAHM and the Trustee NEVER even questioned it. My children are 4, 6 & 9. I also make $140 cash every week cleaning houses. I documented it and the Trustee NEVER even questioned that which I actually found surprising.
No need to worry about the SAHM issue.Filed: 08/09/06
341: 09/18/06
Discharged: 11/22/06
Closed 11/30/06Comment
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