advice?

[oopsnow]

I'm new to this forum and not into computers that much, so bear with me.

I'm planning on filing BK but I have read this amazing forum and have gleaned alot of info but my questions have not been addressed.

I have contacted an attorney (just the initial consult) and they have said it will have to be a 13. I plan on filing just myself as my husband does not have balances on his credit card. I have a very large balance on them.

What I don't know is:

1. Should I be taken off his banking account? It is joint savings/checking but I have mine, he has his and we don't use the other persons unless an emergency. I'm planning on getting another account for myself on a different bank. Or, can I just take my name off of his account. 3 of my CC are on that bank (BOA).

2. If I take my name off of his CC and him off mine, before I file, will that keep them from coming after him? He only uses one CC of mine, the Walmart Discover, to shop for groceries and gas.

3. I make very good money where I am now, just make minimum payments, but this Dec. my job ends and, if I work, it will be 50% of what I make now. I'm a traveling RN, away from "home" and the pay at "home" is very bad/sad, so I know I won't be able to make the minimum. And I don't want my husband to have to make up the difference, which he would not be able to do either. He makes too much to file for Ch. 7.


4. From recent postings I see that people quit making CC payments before they file. How does this work itself out? At the counseling meeting I was told to stop paying when I file but nothing was said about before that. Is that just a personal decision? I have asked a few of my CC people to give me a one month "payment holiday" but WAMU said they don't do that, Cap. One did and one BOA did. I don't know if I have the courage to just stop. I don't like confrontation.

5. What is the 'average' payment for a Ch. 13? My CC total $110,000.00, not including $8,000. on my car and $15,000.00 loan against my TSA. On attorney consult said it would be $3,500.00 a month. Does it go this high?

Any help on thesequestions is much appreciated!

[AngelinaCat]

First, welcome to the Forum. We will try to help as much as we can. But to answer your questions, it will help if you tell us what state you are in. If you are in a communnity property state, the creditors probably can go after DH's accounts.

You should get your name off the joint account. Now, in my DH's and my experience with having our names on our god-daughter's account--the only way we could get our names off of it, was to close it. Period. Since you and he have your own accounts, it shouldn't be a probalem to just close it.

Next, if your CCs are at the same bank as your checking/savings accounts, close your c/s accounts and move them elsewhere so that the CCs can't cross-collateralize those accounts and pull funds out of your checking account when you least expect it.

The main reason most people stop paying AND using the CCs before filing is to #1 save up the money to hire a competent BK attorney and #2 avoid the appearance of large CC purchases or cash advances that MAY look like abuse and fraud to the trustee assigned to your case.

Since you have few months before you know you are going to suffer an income loss, is to start preparing now. Save money for your attorney; save money for an emrgency fund; purchase storable food and commodties, like toliet paper, soaps, shampoos, etc. for when the money crunch comes. Even though you are preparing for it, it STILL is a very NASTY shock when it hits that there is no money.

Some of the other questions, members more familiar with C13 will be able to assist better.

Good luck to you and your DH

[oopsnow]

Hey!, thanks for the great advise.

I'm in Texas currently but "home" is Georgia where we have had an apartment since 5/07. It is not a community property state, but our bank accounts are on a Washington state BOA location (we kept it there after we moved away).

In taking my name off my husbands account, is it just that, or does he have to authorize it. As I said, I am going to a completely different bank, but he has been with them since 1983 and he is not a creature of change. If he does not close his account, but I am off his account, can they still come after him?

I have not slept well in the last few days thinking about this, and I'm worried about little things. If I have the right lawyer, if all my debts are listed, how much they will ask for, will my income be enough to cover it. I just worry too much, but of all the advise I read on this forum I feel it will help calm those jitters.

Thanks again

[JRScott]

1. It would be better if you both moved your accounts to another bank.

2. I'm not 100% sure but I believe in most cases he could be held responsible for the balance on any card in which he was a joint holder when the debt was created, doesn't matter if you remove him now. However this is something you need to ask a lawyer.

3. It might be better to wait to file until after you've had a reduction in pay. You don't want to have a 3500 dollar chapter 13 payment and not be able to pay for it. Plus the drop in income could possibly enable you to file a chapter 7.

4. If you cannot afford to make the credit card payments and are finding yourself using the CC for food/gas and other necessities it is better to stop paying on them and going to a cash plan. However this will ding your credit a bit more. If you can make the payment up til the time of filing you generally rebound faster from a bk.