Need help!!! Questions about BK and warrant in debt

[VAhelp]

Hello Everyone- This is my first post and I want to thank everyone in advance for any advice that they might have.

First some details about my situation:

-I am married and we have 2 yound children
-Wife is not working and is a stay at home mom (no income)
-I work fulltime and make about $70,000 yr. (salary)
-we owe $50,000 in unsecured CC debt (all in my name, no cosigner)
-we owe about $6,000 in taxes (both State of VA and Federal, joint taxes)
-have not made a payment to CC companies for about 1 year now and have not talked at all to any of the collections agencies
-our income is not going to drastically change soon
-I just received a warrant of debt from one of our creditors (Discover card) for an Aug 13, 2009 court date

I have thought about BK for the past year but have really had no resaon to move forward with it and we cannot afford to hire on attorney but now I am thinking that I might have to file and have a few questions:

1. What might happen when I go to court for this warrant of debt?

2.Do I have to file for BK before I go to court or will I be able to file afterward even if the Judge finds in favor of the CC company?

3. If the court finds in favor of the CC company, how soon can they start taking money from my work check?

4. Do I need to bring anything with me to court or say anything (maybe that I am thinking about BK)?

5. If I file should I file CHapter 7 or 13?

Any help is appreciated

[whipster1]

Haven't heard that term before...I would assume it is a lawsuit. You can file either 7 or 13 and it acts as a "stay" against creditor action, including lawsuits. You should seek out a few competent BK attorneys and go in for a free consultation to see what your options are.

[LuciluS]

Hello Everyone- This is my first post and I want to thank everyone in advance for any advice that they might have.

First some details about my situation:

-I am married and we have 2 yound children
-Wife is not working and is a stay at home mom (no income)
-I work fulltime and make about $70,000 yr. (salary)
-we owe $50,000 in unsecured CC debt (all in my name, no cosigner)
-we owe about $6,000 in taxes (both State of VA and Federal, joint taxes)
-have not made a payment to CC companies for about 1 year now and have not talked at all to any of the collections agencies
-our income is not going to drastically change soon
-I just received a warrant of debt from one of our creditors (Discover card) for an Aug 13, 2009 court date

I have thought about BK for the past year but have really had no resaon to move forward with it and we cannot afford to hire on attorney but now I am thinking that I might have to file and have a few questions:

1. What might happen when I go to court for this warrant of debt? Set up 3 - 5 Free Consultations with Bankruptcy Attorney.

2.Do I have to file for BK before I go to court or will I be able to file afterward even if the Judge finds in favor of the CC company?Our BK Attorney told us No! He could file An Answer and Delay the hearing until after we file on 9/30/09

3. If the court finds in favor of the CC company, how soon can they start taking money from my work check? Don't know the answer. A good question during your Free Consultations. Ask how much he/she charges to answer a Warrant of Debt. Make a list of other questions too.

4. Do I need to bring anything with me to court or say anything (maybe that I am thinking about BK)? If you know you are going to be filing BK in the future, I would do the Free Consults. Select an Attorney. Pay him the fee needed to answer the Warrant and a retainer fee for BK.

5. If I file should I file CHapter 7 or 13? I believe you may squeeze in a Chapter 7 under median income. However, that doesn't mean you cannot file a Chapter 7. Main issue is your disposable income needs to be less than $165 or so. Any help is appreciated

Here is a Means Test a forum member, Debtstinks, compiled:

http://www.johnfire.com/meanstest/wizard.php

Here is a website to help you determine your State Median Income:

http://www.census.gov/hhes/www/income/statemedfaminc.html