Ok, slightly tricky question. My Parents are considering chapter 7, have had their consult, and were told they'd be able to keep their car, as while it is slightly over the exemption amount (by about $1000), they were told it either wouldn't be enough value for the Trustee/creditors to care, or they could pay the difference. However, something they had forgotten to tell the Lawyer during consult is that the car was paid off using a personal loan, which would be discharged through the Bankruptcy. It was a $30,000 personal Loan taken out roughly a year ago, which they used to to pay off a prior ..read more

Hi Everyone. I'm in Florida and strongly considering Chapter 13 as I'm a decent wage earner who just can't keep up, especially after increases in property tax and insurance. I haven't lived here 1215 days - only 1003 - but as I understand it, there's still an exemption, but I'm confused as to whether it protects the equity or just the home value; I only have about $60,000 - generously - of equity after considering my 1st and 2nd mortgages. Thanks everyone for the help! submitted by /u/RhymesWithCarbon [visit reddit] [comments ..read more

I have a final judgment from a debt collector from a private student loan. Can that be discharged in a chapter 7? Thank you submitted by /u/Ok_Vehicle365 [visit reddit] [comments ..read more

I will be filing chapter 13 bankruptcy sometime this year. The second lawyer that I consulted is charging $4500. This seems like a lot. Is it? submitted by /u/reddituser4404 [visit reddit] [comments ..read more

I’ve been working with the lawyer for about 6 weeks and as of yesterday I thought I was doing ch7 but with my husbands income we were just barely over the means test so I decided to go through with ch13 so we don’t have to drag this out any longer. I thought I was pretty familiar with 13 but there are actually more limitations that I realized and I’m happy but also have a bit of a sick feeling in my stomach because I thought I would do 7 and in a few short months it would be over, but now I have this thing hanging over me for the next 5 years (presumably). I asked the paralegal specifically a ..read more

I can breathe easier!!!! submitted by /u/Quirky-Telephone5002 [visit reddit] [comments ..read more

Hi all, I lost everything at the end of April, and have kept bankruptcy a secret from everyone, as I am still weighing all my options and determining my next course of action. I live alone, have a good job, and am more or less an independent person. That being said, I see my parents constantly and the short story is I ultimately will need to tell them about my bankruptcy, as they will just naturally find out eventually because they are very involved in my life. When I do tell my parents about this, I imagine they are going to lose their sh*t. As of now they think I am in a great financial sit ..read more

My apr is around 9% Will a lawyer be able to negotiate this with the dealership or bank? I’m current but the payment is high compared to my income. Are there other options besides letting the car go back or repossession? Do have a chance to trade it down for something cheaper? I’m assuming there are no options but to keep it. I have to have a car for work. submitted by /u/MedicalFly441 [visit reddit] [comments ..read more

Filed for chapter 7 bankruptcy back in Januaru. I still owed a pretty significant amount and I’ve tried calling the bank I have my loan with to coordinate a voluntary repo but they haven’t returned my calls or email. Today in my mail I found the original title to the car sent by the financial institution I have the loan with??? Not sure what I should do or what this means lmao submitted by /u/SyIasdoggo [visit reddit] [comments ..read more

Without sharing too much back story of my active individual ch 13 case, I am wondering if someone can tell me if I am allowed to assume two leased vehicles solely in my name in a joint ch 7 petition? One is my wife’s vehicle and the other is mine, but these contracts are both in my name. The total for both leases combined is less than my current car payment alone so we would be eliminating my wife’s $900/m car payment and both leases would be almost the same as my current $1250 car payment. We are in MN. submitted by /u/RecyceledPseudonym [visit reddit] [comments ..read more