Game Over ... now I have questions...

[AngelinaCat]

Project girl!! love it!
boy never thought I'd spill so much on a chat site!! Funny what you can do behind a keyboard!

[AngelinaCatHub]

Company I worked for went bankrupt and I lost my $90k job, After a year of looking for another job and not finding one my credit cards started getting used to pay bills and the mortgage. Since I could not find a job I decided to start my own business and lost almost $70k the first year getting the business up and running using credit cards . After 3 years my business is now making money finally and I will make around $80k this year but with the economy all my credit lines were reduced and I could no longer make the payments since all my available credit was removed. (Still had around 80k available before the credit card ccompanies started reducing all my limits)

Based on my business growing 30% a year... I figured I would eventually when making enough money be able to start paying all the debt back. Unfortunately once the credit freeze started 2 months ago I lost my available credit and everything started collapsing.

Still have around $100k equity in my home and I am trying to save it. My lawyer is very good and we are trying to do a Chapter 7 and keep the house. In the end if we cant work out a deal with the trustee to keep it we will go Chapter 13 with around $75k payback over 5 years. House is worth around $510k, and we owe around $400k, We have $40k in home exemptions and it would cost the trustee around 10% to sell it so there would only be around $10k left after they sold it. Our lwayer said he would work out something with the trustee that if required we will pay the $10k they would have made if they sold it over some sort of payment arangement.