I am filing chapter 13 bankruptcy and ......

Question

I have a few questions. I earn too much to file chapter7, and I don't have enough disposable income to set up a payment plan with my creditors , (mostly credit cards) , what happens? 2. I am filing , but not my wife. How is jointly owned property handled? 3. I have adult children (not dependants) living at home who own and purchased things like cars, stereos, motorcycles etc. Can the court , or my creditors, physically come to my home to inspect ? Or do they just take my word for it ? I know , everyone is saying get an attorney, but I am going to do this myself. All I have to do is fill out about 40 pages !!??!. I live in Michigan.

Answer 1

I highly suggest you contact a qualified bankruptcy attorney. With the new laws that were passed in Oct 2005, one wrong move and your case is dismissed!!  If you can't fill out the paperwork properly or work up a plan payment to the courts, you need an attorney. The bk attorney can assist you in what you don't have to pay in order to pay the attorney retainer fee. Your adult childrens belongings will not be effected, but..if they are over the age of 18, and still live at home, this is why you don't qualify for a chapter 7 as well as too much income. The courts now look at ALL the income in the home. Jointly owned property..they will go after her......once again...contact an attorney. These are questions you need to know to file!

Good Luck!

Answer 2

When you file bankruptcy your wife will file bankruptcy.  I don't see how you will be able to avoid that.  I don't think your children's assets will be affected.  In this new world of ours you can't file bankruptcy against credit cards I think there will be some type of payment schedule made.  It is really in your best interest to seek professional help of some kind

Answer 3

Well, you have obviously been warned not to do this yourself.  And I see nothing but trouble already.

If you have no disposable income, you don't file chapter 13...you would qualify for chapter 7.  It's how you calculate it.....and if you have already messed up they will eat you alive in court.

You can file yourself....Michigan is not a community property state.  Are all these debts in your name?