My situation - Need advice

[Freddy03]

Ok I really need to understand what would be a better option for me and my family. Here is our situation - any advice would be greatly appreciated.

Family of 4
Florida
CC Debt - 45K (stopped paying over a year ago)
Student Loan - 13K
Mortgage - 220K - currently less than 30 days late
HELOC - 13K - currently less than 30 days late
Car - 14K - currently less than 30 days late
Property Taxes - 2 years behind - I have until 3/31 to pay $1800
We both claim M-00 on taxes so we normally get about 2500-3000 refund. This year will be less b/c I took a 401K hardship withdrawl back in March.


Gross Pay
2813.44 Husband
3242.84 Me
110 Husband's VA

Total:
6166.28

Medical/Dental/Vision 341.44 Month (Taken out of Husband's pay)


Net:
1976.65 Husband
2708.43 Me
110 Husband's VA

Total:
4794.99


Expenses:

Gas (cars)- Montly $150.00
Food/Cleaning/Personal - Montly $1,000.00
Clothing - Monthly $125.00
Medical - Monthly $75.00
Utilities - Monthly (Electric/Water) $300.00
Cable/internet - Monthly $120.00
Phone (3 cell phones only)- Monthly $120.00
Home - Tax/Ins $200.00
HOA $25.00
Mortgage $1,650.00
HELC - Mortgage $230.00
Car $385.00
Misc - Car/Home Repairs $150.00
Tolls/Parking $100.00
Auto Ins $135.00
Entertainment $100.00
Misc - Pet Care $50.00
School Lunches/supplies $75.00

Total: $4,990.00

Not including $100 Student Loan payment - deferment ends in Nov.


I would love to file Ch 7 but I just can't seem to get caught up on the mortgage and still have money to pay the attorney.

[JEM]

I hear you. Trying to get things to "work out" has proven to be one curve ball after another. My husband was making quite a bit of OT last year and some extra pay that won't be recurring. It put us over the median, but at least we were close to getting caught up on the mortgage and things we got behind on while we were trying to keep up with the CC payments. Then in July we had a lightning storm at our house. Lost everything electronic. While the HOI paid for almost everything there we still expenses that we were out of pocket. So that was a set back. Then husbands hours got cut, which was good for getting us under the median income, but bad for saving for an attorney. Now the median income is lower starting Nov. 1st and we'll be back OVER. I swear we can't catch a break for anything!

Oh ya, and we were served papers this month from Citi. *sigh*

You said you aren't 30 days late on the mortgage......couldn't you still file since you aren't technically "late". Or is anything past the due date considered "late" when you file?

[scorpion35]

Ok I really need to understand what would be a better option for me and my family. Here is our situation - any advice would be greatly appreciated.

Family of 4
Florida
CC Debt - 45K (stopped paying over a year ago)
Student Loan - 13K
Mortgage - 220K - currently less than 30 days late
HELOC - 13K - currently less than 30 days late
Car - 14K - currently less than 30 days late
Property Taxes - 2 years behind - I have until 3/31 to pay $1800
We both claim M-00 on taxes so we normally get about 2500-3000 refund. This year will be less b/c I took a 401K hardship withdrawl back in March.


Gross Pay
2813.44 Husband
3242.84 Me
110 Husband's VA

Total:
6166.28

Medical/Dental/Vision 341.44 Month (Taken out of Husband's pay)


Net:
1976.65 Husband
2708.43 Me
110 Husband's VA

Total:
4794.99


Expenses:

Gas (cars)- Montly $150.00
Food/Cleaning/Personal - Montly $1,000.00
Clothing - Monthly $125.00
Medical - Monthly $75.00
Utilities - Monthly (Electric/Water) $300.00
Cable/internet - Monthly $120.00
Phone (3 cell phones only)- Monthly $120.00
Home - Tax/Ins $200.00
HOA $25.00
Mortgage $1,650.00
HELC - Mortgage $230.00
Car $385.00
Misc - Car/Home Repairs $150.00
Tolls/Parking $100.00
Auto Ins $135.00
Entertainment $100.00
Misc - Pet Care $50.00
School Lunches/supplies $75.00

Total: $4,990.00

Not including $100 Student Loan payment - deferment ends in Nov.


I would love to file Ch 7 but I just can't seem to get caught up on the mortgage and still have money to pay the attorney.

your expenses look good

are u keeping your house and car?
do u pass the means test?

[Freddy03]

Not reaffirming the house - do not plan on surrendering it either. We plan to pay and stay for as long as we can.

Car we will reaffirm.

I did pass the means test online according to the Oct median levels.

[ryan]

About Freddy03's signature:

Oscar: "Hey, I just wanted you to know, that you can't just say the word bankruptcy and expect anything to happen. Michael Scott: I didn't say it, I declared it. Oscar: Still.. that's.. it's not anything. Michael Scott: I DECLARE BANKRUPTCY!"

Just wanted to say I LOVED THAT EPISODE!!!

[ccsjoe]

Unless my eyes are missing something, your expenses get my rubber stamp!! For whatever that's worth...I guess rubber means it bounces???

[AngelinaCatHub]

"There is no try; there is only do". Yoda

Freddy, as a superior adviser, you know this. Go forth and conquer. 'Hub

[Freddy03]

About Freddy03's signature:

Oscar: "Hey, I just wanted you to know, that you can't just say the word bankruptcy and expect anything to happen. Michael Scott: I didn't say it, I declared it. Oscar: Still.. that's.. it's not anything. Michael Scott: I DECLARE BANKRUPTCY!"

Just wanted to say I LOVED THAT EPISODE!!!

Me too! It's def one of my favorite episodes.

[Freddy03]

Thanks everyone. After my mini break down yesterday guess what I'm feeling better today.....LOL I'm sure I'll have a few more "yesterdays" before I actually file. Please just bare me. I really do appreciate everyone's help.

[tobee43]

Ok I really need to understand what would be a better option for me and my family. Here is our situation - any advice would be greatly appreciated.

Family of 4
Florida
CC Debt - 45K (stopped paying over a year ago)
Student Loan - 13K
Mortgage - 220K - currently less than 30 days late
HELOC - 13K - currently less than 30 days late
Car - 14K - currently less than 30 days late
Property Taxes - 2 years behind - I have until 3/31 to pay $1800
We both claim M-00 on taxes so we normally get about 2500-3000 refund. This year will be less b/c I took a 401K hardship withdrawl back in March.


Gross Pay
2813.44 Husband
3242.84 Me
110 Husband's VA

Total:
6166.28

Medical/Dental/Vision 341.44 Month (Taken out of Husband's pay)


Net:
1976.65 Husband
2708.43 Me
110 Husband's VA

Total:
4794.99


Expenses:

Gas (cars)- Montly $150.00
Food/Cleaning/Personal - Montly $1,000.00
Clothing - Monthly $125.00
Medical - Monthly $75.00
Utilities - Monthly (Electric/Water) $300.00
Cable/internet - Monthly $120.00
Phone (3 cell phones only)- Monthly $120.00
Home - Tax/Ins $200.00
HOA $25.00
Mortgage $1,650.00
HELC - Mortgage $230.00
Car $385.00
Misc - Car/Home Repairs $150.00
Tolls/Parking $100.00
Auto Ins $135.00
Entertainment $100.00
Misc - Pet Care $50.00
School Lunches/supplies $75.00

Total: $4,990.00

Not including $100 Student Loan payment - deferment ends in Nov.


I would love to file Ch 7 but I just can't seem to get caught up on the mortgage and still have money to pay the attorney.

the attorney we used down here was GREAT...he took $100 a month until we could file and let us have all collection calls routed to HIS firm...LOL!!! we was young...and quiet...but very smart and did really well for us... there are some good one's in this area.