I found a few interesting things about BK. I found a few other forums similar to this one, although with a lot less activity. On two different forums I found people who were advised by their attorney to max out their credit cards and buy everything they want prior to filing. I find it very hard to believe that any attorney would advise someone to do this, but you know what, where there's smoke there's fire, maybe that really did happen.
I also found the California Code of Civil Procedures and different cases where people have tried to claim exemptions that were challenged by the trustee. I saw where bank accounts were exempt up to certain values, by rule of somehting called "reasonably used to support the debtor". I also found a case where a six figure IRA was ruled not exempt because of some changover hoopla and this that and the other. It was over $300K and they lost it. However, after reading about California exemptions, I decided that I will not close out my brokerage account prior to my first consutation with an attorney. It is only worth a little over $1000 and I think it might get an exemption. If not, I will close it out on the attorney's advice.
It's 1:25 AM and I've been slamming beers for the last couple of hours as I've been googling. It's just sinking in that this is really going to happen now. Right now all my bills are current, and I will beging saving for my attorney fees by not paying any unsecured creditors. I think I can have $1000 to $1500 saved in a month or so. My last weeks pay was a little under $400, I haven't had a week's pay that small in many years. It makes me wonder if anyone else where I work is hurting too, we are all having our hours cut back.
I haven't talked to anyone about this, not even my closest friends. Over the last couple of days it's been all that's on my mind now that it's inevitable. I get heart palpitations just thinking about it.
I found an attorney who specializes in bankruptcy here in San Diego, he's a member of that trade group or whatever it is. There's also a legal mill that runs commercials on late night TV, and there's also a firm with a very low price that I found in one of those free weekly papers you see in convenience stores. I'll go to the BK attorney for my first consultation, and frankly if his fees aren't more than about $1500 I won't even bother going to the other two.
I haven't totaled up my debts for a while. I knew it was getting bad because of some legal problems I had recently, but I just didn't want to face up to how much more I was charging even though I knew I was in trouble. I honestly thought I could pay it off, but the hours at work dropped even more. I totaled it up tonight and I have $49586 total of which $24856 is unsecured. The rest is my car loan. Just seeing those numbers scares me.
I can only find comfort here in front of my computer with my anonymous handle chatting away in cyberspace. That and my adorable little kitty laying on the floor beside me.
I also found the California Code of Civil Procedures and different cases where people have tried to claim exemptions that were challenged by the trustee. I saw where bank accounts were exempt up to certain values, by rule of somehting called "reasonably used to support the debtor". I also found a case where a six figure IRA was ruled not exempt because of some changover hoopla and this that and the other. It was over $300K and they lost it. However, after reading about California exemptions, I decided that I will not close out my brokerage account prior to my first consutation with an attorney. It is only worth a little over $1000 and I think it might get an exemption. If not, I will close it out on the attorney's advice.
It's 1:25 AM and I've been slamming beers for the last couple of hours as I've been googling. It's just sinking in that this is really going to happen now. Right now all my bills are current, and I will beging saving for my attorney fees by not paying any unsecured creditors. I think I can have $1000 to $1500 saved in a month or so. My last weeks pay was a little under $400, I haven't had a week's pay that small in many years. It makes me wonder if anyone else where I work is hurting too, we are all having our hours cut back.
I haven't talked to anyone about this, not even my closest friends. Over the last couple of days it's been all that's on my mind now that it's inevitable. I get heart palpitations just thinking about it.
I found an attorney who specializes in bankruptcy here in San Diego, he's a member of that trade group or whatever it is. There's also a legal mill that runs commercials on late night TV, and there's also a firm with a very low price that I found in one of those free weekly papers you see in convenience stores. I'll go to the BK attorney for my first consultation, and frankly if his fees aren't more than about $1500 I won't even bother going to the other two.
I haven't totaled up my debts for a while. I knew it was getting bad because of some legal problems I had recently, but I just didn't want to face up to how much more I was charging even though I knew I was in trouble. I honestly thought I could pay it off, but the hours at work dropped even more. I totaled it up tonight and I have $49586 total of which $24856 is unsecured. The rest is my car loan. Just seeing those numbers scares me.
I can only find comfort here in front of my computer with my anonymous handle chatting away in cyberspace. That and my adorable little kitty laying on the floor beside me.
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