monkey mom asked:


After years of trying to manage our debt, my husband and I have decided to contact a bankruptcy lawyer. We had too much credit card debt, then I had to switch jobs (big pay cut, no sick leave) and became ill and had surgery and was unable to work for over a month. During this time we had to use credit cards. At the end of January we decided to work with Credit Solutions of America–ha, ha, biggest mistake of our lives!!!
Our annual income is around 75k, but we have nearly 47k in credit card debt. Do you think we will qualify for bankruptcy, at least Ch. 13? Obviously we haven’t used cards in a while, but there is no possible way to live and pay off debt.
How long does the process drag on? Will the lawyer tell us right away if we should do this? I really want to hear others experiences! Thanks.

M.M. asked:


How are they controlled? Federal or State?

rare2findd asked:


..
Court says to convert to Chapter 7, but can’t because was behind on mortgage payments. Am paying arreages alsol Commenced payments ON TIME in November 07 (and since) and made additional payments under the Plan. No equity on house. Now court says the Plan has to be re-done or will be dismissed. Why does Trustee want more money if Means Test gave them correct disposable income? A friend went through 13 also. The lawyer figured her payments to trustee (and secured creditors, with unsecured creditors receiving 23 cents on the dollar) to be 370 per month. SHe was just confirmed. But has to pay 648 a month OVER AND ABOVE her mortgage.
Is something going on with the Trustees that we don’t know about?
I read several articles on line about Trustees being dishonest.
Who can I complain to. They were talking about higher payments at First Meeting of Creditors, But as it stands I have very little left after mortgage payment and separate amount paid to trustee.
Grumpy:
“You stated that you are delinquent with your mortgage –have no equity. You are also trying to protect something that is a liability rather than an asset. The court sees this. You do not belong in a Chapter 13, you belong in a Chapter 7.”

are you really an attorney? Most 13 filers are trying to SAVE their homes AND are in arrearages!! My plan was for five years – ALL arrearages would be paid. ALL are BEING paid each month. PLUS the trustee had no problem with the PLAN at the First Meeting. No one appeared for the mortgage company and no other creditor appeared. So. are you saying that a million people filing 13’s to save their homes belong in a 7? Are you saying that over a million people whio file 13’s are trying to hold on to a “liability.”?
That’s odd, because my understanding is that with a 7, if you are behind you can’t save your home. You do a 7 if you are CURRENT on your mortgage payments.
You’re a bankruptcy lawyer?
hummm.
I hope you read this…
humm
Grumpy removed his answer because its doubtful that he is a bankruptcy attorney as he represented he was. His suggestion was way off base and not one that would be given by a legitimate attorney.

Adelaide B asked:


How has it changed and what are the new requirements to qualify?

Heather! asked:


I’m 21 years old. I’m 23,000 in debt. I don’t have any vehicles or property in my name my mom ran up my credit cards of 11,000 and the rest in medical bills. My mom has tried to pay them down but, now its gotten almost impossible. She also doesn’t have any of the things that she has put on my credit cards. Can anyone give me any advice? Thanks a bunch!

avatars_cherubim asked:


I was thinking about filing for a chapter 7 bankruptcy. I have filed before, but I am unware of the new laws. The main reason for the filing is to rid myself of unwated medical and credit card bills. My chapter 7 bankruptcy was discharged in April of 2001 or 2002, can I file for a chapter 7 again? Or will I have to file for another chapter? I paid $1000 to file my first chapter 7, is it going to cost more now? Please help.

talia_hailey asked:


Was 2005 the last time or have they changed since then?

cm_greer asked:


Ok, I have this friend who has gotten herself and her hubby in major debt. She has since talked him into filing bankruptcy. They talked to a lawyer and have decided to file chapter 13. She had a nice Tahoe that would have been paid off in 1 1/2 yrs and he has a 2005 truck. Since they are filing on their vehicles also she decided they should just get a new vehicle so they went and traded in the Tahoe for a 2007 fully loaded Chevy Suburban, which they are planning on adding into their bankruptcy. This does not seem right to me. I thought the idea of filing was to get out of debt and to help your financial situation, how can they do this, is this legal?????

Absolution asked:


can your debts be wiped out? is it harder to declare? does it cost more to file now? save your opinions and give facts please.

Aleyce asked:


How it is structured? What is the formula on your income to determine how much your monthly will be.