First off Hi, My wife and I just filed chapter 7 (Texas) last friday...pretty nerve racking. We had close to 80,000 in unsecured debt. We currently have two fairly new vehicles (01/03) and just purchased a house 1 yr ago....we plan to keep all. I want to start improving my credit score as soon as possible. I've read numerous posts about credit repair and plan on purchasing a book this weekend to learn as much as possible. In yalls experience what kind of shape can I expect to be in about 2 yrs? Thanks alot 169mph
I'm doing the same in Texas.. You wouldn't happen to be in the Houston area would you and if so which lawyer did you go with? I am going to be filing by myself without the wife ince all the debt is in my name. I'm cleaning her report right now so we will still have some good credit for emergencies. I'm filing on about $48,000 unsecured and an auto at $17,500 and a contract gone bad for $32000. I'm hoping to be good to go in a couple years but who knows. At least I won't be stressed out because of all the collectors and whatnots..
Yes I'm in the Houston area...used attorney Michael Culling. He seems to be very experience and was highly recommended. The only thing I don't like is he seems to talk to my wife and I as if are ignorant and he is judgmental. Thanks mph169
as long as he gets you through it good I guess it doesn't matter. If you don't mind me asking what was his price? You're not done right?, you just filed?
We just filed....his total cost was $1100....I'm not sure if thats fair or not. He wanted 1/2 up front and the other 1/2 after he filed. Thanks
i don't mean to get personal or anything, I'm just wanting to see how the whole thing works and since we are neighbors I figured I would ask you.. Here are some more question adn you don't have to answer any of the ones you don't want to. Are you filing by yourself or jointly? what is the approx. income you told them? is it close to your debt or half? did he say how long it would take? who was the debt with? if you wanted to could you included on of the cars in the BK7? I knoww those are soe nosey questions but I just want to get familiar with other bk7 scenarios... thanks..
Re: Re: First time to post..Just filed CH.7 1. My wife and I are filling jointly. 2. My wife and I have a combined income of about 125000.00. You must verify your income (paycheck stubs). Our debt not including the house and 2 vehicles is approximately 76000.00. 3. I can include one of the cars but not the other. One vehicle is leased....you can not include lease vehicles. 4. Unsecured debt: Discover, Fisrt USA MC, MBNA, Chase, At&t Universal MC, Lowes, etc.... Don't worry about the questions. Thanks 169mph
Re: Re: First time to post..Just filed CH.7 wow, yall make $125,000 and you are able to do a BK7 on $76,000.00 .. I was worried because I make $20/hr or $41,000 a yr plus overtime will get me abotu $47,000 a year and with approximately $80,000 debt and a $17,500 car I want to include. I guess I will not have a problem then. Did they try to get you to do Chp13?
Re: Re: Re: First time to post..Just filed CH.7 No, you won't have a problem, unless you have a lot of cash or other assets.
Re: Re: Re: First time to post..Just filed CH.7 I don't have any cash or assets with value. This makes me fel a little better about all this. I have a couple more questions: First can anyone answer 169mph question on how clean a credit report could look after two years? Also I have a sole-proprietor business that is making no money right now but has the potential to in the next 8 months. How will the BK7 affect the business, or will it at all? There is no debt in the business and no assets. Basically just a name and my experience.
