well, wife and I had our first consultation with our bankruptcy attorney today. Went pretty smooth. He said that he didn't see a problem with anything. I asked him about our cars. I pay on one that is in my name only, and my wife just paid off hers, but has BOTH of our names on it. He said not to worry about it because even though hers has my name as well, as long as her's wasn't on mine it's ok. (Texas states 1 vehicle per person in family)
He also stated that since I have a Chase Mastercard, and all of our checking/savings accounts are with Chase, that we need to close them out and open accounts at a bank that we have no other relation to. He's afraid that Chase may freeze our accounts upon learning of the bankruptcy. He also told me something about Wells Fargo........that even if you have checking/savings and nothing else with them, and you file bankruptcy, that now they freeze your accounts even though you don't have anything with them that you would owe them. I found that astonishing.
The only thing he said MIGHT be a problem, is that we might have more income than expenses. But that he would have to see all of our monthly expenses to know for sure, and that if we do, depending on the trustee and what the difference is, might still be able to do ch 7. He said we would go into it filing ch 7, but if the court says anything, we'll have to convert.
Not really what I want to hear.
So that's everything today. Just got to get the $ together to pay him, and get the ball rolling. He said that it's important to file by mid-September in order to keep from possibly falling in after the new law goes into effect since there will probably be a log jam of people filing before the deadline.
He also stated that since I have a Chase Mastercard, and all of our checking/savings accounts are with Chase, that we need to close them out and open accounts at a bank that we have no other relation to. He's afraid that Chase may freeze our accounts upon learning of the bankruptcy. He also told me something about Wells Fargo........that even if you have checking/savings and nothing else with them, and you file bankruptcy, that now they freeze your accounts even though you don't have anything with them that you would owe them. I found that astonishing.
The only thing he said MIGHT be a problem, is that we might have more income than expenses. But that he would have to see all of our monthly expenses to know for sure, and that if we do, depending on the trustee and what the difference is, might still be able to do ch 7. He said we would go into it filing ch 7, but if the court says anything, we'll have to convert.
Not really what I want to hear.So that's everything today. Just got to get the $ together to pay him, and get the ball rolling. He said that it's important to file by mid-September in order to keep from possibly falling in after the new law goes into effect since there will probably be a log jam of people filing before the deadline.
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