Welcome to the board! Things sound rough right now. And yes, you probably do qualify for bankruptcy protection -- and there are ways to protect your house. The only way you will know for sure is to make an appointment with a bankruptcy attorney and find out. Usually the first visit is free, and you will know what your options are. Really, you need to go to our companion message board "debt questions and answers". Go to "home and garden" message boards and type in "debt questions and answers" to get there. On that board there is a section on bankruptcy. I have copied a posting from one of the experts there (cQ108) which tells you what to bring to your meeting with the bankruptcy attorney so he/she can tell you really what your options are. Hang in there. Keep posting here and there. The copied posting follows. Megan discussion title:
Prepare For Appt With Bankruptcy Lawyer emoticon: Emoticon message #: 5410.1 from: cg108 date: 2/1/2006 5:07 pm replies: 2
When you schedule and meet with bankruptcy lawyers to interview them, you will want to provide income and expense data, plus assets. Here is a work sheet to get you started. This will help you when you meet with a lawyer and it will help the lawyer give you the best opinion on how to proceed without sifting through your documents.
PERSONAL DATA
Name/Social Security Number/ DOB/ etc. Present Occupation: Full Name and Address of Present Employer: (including zip code) You have been employed since when? Marital Status (Specify month and year of event if it occurred in the last five years, if applicable, for each of the below): Married Common-Law Single Widowed Separated Divorced Month/Year of Event: Number of dependents who rely on you for financial support: Name Relationship DOB Address
MONTHLY INCOME - Estimated After Bankruptcy Petition is Filed. Net Employment Income Net Earnings of Spouse Net Pensions/Annuities Net Child Support Other net income Child tax benefit Net Spousal Support Net unemployment insurance Benefits Net Social Assistance
MONTHLY NON-DISCRETIONARY EXPENSES - Estimated After Bankruptcy Petition is Filed. Child Support Payments Spousal Support Payments Child Care Medical Condition Expenses Fines/Penalties Imposed by Court Expenses as a Condition of Employment Debts Where Stay Has Been Lifted Other
MONTHLY DISCRETIONARY EXPENSES - Estimated After Bankruptcy Petition is Filed. Housing Expenses: Rent/Mortgage Property taxes/condo fees Heating/gas/oil Telephone Cable Water Furniture Other
Living Expenses: Food/Grocery Laundry/dry Cleaning Grooming/toiletries Clothing Other
Transportation Expenses: Car lease payments Repairs/maintenance/fuel Public transportation
Personal Expenses: Smoking Alcohol Dining/lunches/restaurants Entertainment/sports Gifts/charitable donations Allowances Other
Insurance expenses: Vehicle House Furniture contents Life Insurance Other
Medical Expenses (not covered by insurance): Prescriptions Dental Other
ASSETS DESCRIPTION (list the location and best guess estimate of the value)
Cash on Hand Cash In Bank Household Furniture (Fully/Partially Pledged/Exempt) These are typically "garage sale" values not what it would cost you to replace these items. Retirement Savings Plans Loans Due to You Cash Surrender Value of Insurance Policies Savings Plans /Bonds Clothing and Medical Aids Jewelry Stocks/Shares Estimated Tax Refund Collectibles (Stamps, etc.) House and un improved land (and how much is owed) Mobile Home Automobile/Model (and how much is owed) Motorcycle/Model (and how much is owed) Other Motorized Vehicle (and how much is owed) Boat/Trailer (and how much is owed) Any Other Assets/Tools of the Trade List all debts, including secured debts and utilities. Provide: Creditor's Name, Address, and Account Number, and Estimate Amount Owing
GENERAL
1. Within the last twelve (12) months, have you sold, disposed of or transferred any of your assets (vehicles, property, stocks, bonds, furniture, etc) If yes, list the asset, when, to whom and how much you made. Where did the money go?
2. Within the last twelve (12) months, have you made payments in excess of regular payments to any creditor? Y/N
3. Within the last twelve (12) months, have you had any assets seized by a creditor? If yes list the details.
4. Do you expect to receive any sums of money, or any other property within the next 12 months, which are not related to your normal income? Y/N
5. List the banks that you are currently dealing with, including safe deposit box (and list the contents).
6. Does anyone owe you any money? If yes, list details.
7. Are you a beneficiary of a will or will you receive an inheritance? Y/N
8. Has anyone started legal proceedings against you? Y/N
9. Do any of your debts arise from:
A fine or penalty imposed by court? Y/N Credit purchases of luxury goods or services in the last 60 days? Y/N Loans or cash advances in the last 60 days? Y/N Debts from willful injury to another person or another person's property? Y/N Child Support or Alimony? Y/N Student loans? Y/N Recent income tax debts and all other tax debts? Y/N Fraud, embezzlement, misappropriation? Y/N Debt for personal injury or death caused by your intoxicated driving? Y/N Obtaining property by fraudulent misrepresentation? Y/N
10. Last year you filed an income tax return?
Did you receive a refund? Y/N Are there arrears owing? Y/N Is there a copy available? Y/N
11. Are you paying/receiving any Child support or alimony payments? Y/N
discussion title:
Prepare For Appt With Bankruptcy Lawyer emoticon: Emoticon message #: 5410.1 from: cg108 date: 2/1/2006 5:07 pm replies: 2
When you schedule and meet with bankruptcy lawyers to interview them, you will want to provide income and expense data, plus assets. Here is a work sheet to get you started. This will help you when you meet with a lawyer and it will help the lawyer give you the best opinion on how to proceed without sifting through your documents.
PERSONAL DATA
Name/Social Security Number/ DOB/ etc. Present Occupation: Full Name and Address of Present Employer: (including zip code) You have been employed since when? Marital Status (Specify month and year of event if it occurred in the last five years, if applicable, for each of the below): Married Common-Law Single Widowed Separated Divorced Month/Year of Event: Number of dependents who rely on you for financial support: Name Relationship DOB Address
MONTHLY INCOME - Estimated After Bankruptcy Petition is Filed. Net Employment Income Net Earnings of Spouse Net Pensions/Annuities Net Child Support Other net income Child tax benefit Net Spousal Support Net unemployment insurance Benefits Net Social Assistance
MONTHLY NON-DISCRETIONARY EXPENSES - Estimated After Bankruptcy Petition is Filed. Child Support Payments Spousal Support Payments Child Care Medical Condition Expenses Fines/Penalties Imposed by Court Expenses as a Condition of Employment Debts Where Stay Has Been Lifted Other
MONTHLY DISCRETIONARY EXPENSES - Estimated After Bankruptcy Petition is Filed. Housing Expenses: Rent/Mortgage Property taxes/condo fees Heating/gas/oil Telephone Cable Water Furniture Other
Living Expenses: Food/Grocery Laundry/dry Cleaning Grooming/toiletries Clothing Other
Transportation Expenses: Car lease payments Repairs/maintenance/fuel Public transportation
Personal Expenses: Smoking Alcohol Dining/lunches/restaurants Entertainment/sports Gifts/charitable donations Allowances Other
Insurance expenses: Vehicle House Furniture contents Life Insurance Other
Medical Expenses (not covered by insurance): Prescriptions Dental Other
ASSETS DESCRIPTION (list the location and best guess estimate of the value)
Cash on Hand Cash In Bank Household Furniture (Fully/Partially Pledged/Exempt) These are typically "garage sale" values not what it would cost you to replace these items. Retirement Savings Plans Loans Due to You Cash Surrender Value of Insurance Policies Savings Plans /Bonds Clothing and Medical Aids Jewelry Stocks/Shares Estimated Tax Refund Collectibles (Stamps, etc.) House and un improved land (and how much is owed) Mobile Home Automobile/Model (and how much is owed) Motorcycle/Model (and how much is owed) Other Motorized Vehicle (and how much is owed) Boat/Trailer (and how much is owed) Any Other Assets/Tools of the Trade List all debts, including secured debts and utilities. Provide: Creditor's Name, Address, and Account Number, and Estimate Amount Owing
GENERAL
1. Within the last twelve (12) months, have you sold, disposed of or transferred any of your assets (vehicles, property, stocks, bonds, furniture, etc) If yes, list the asset, when, to whom and how much you made. Where did the money go?
2. Within the last twelve (12) months, have you made payments in excess of regular payments to any creditor? Y/N
3. Within the last twelve (12) months, have you had any assets seized by a creditor? If yes list the details.
4. Do you expect to receive any sums of money, or any other property within the next 12 months, which are not related to your normal income? Y/N
5. List the banks that you are currently dealing with, including safe deposit box (and list the contents).
6. Does anyone owe you any money? If yes, list details.
7. Are you a beneficiary of a will or will you receive an inheritance? Y/N
8. Has anyone started legal proceedings against you? Y/N
9. Do any of your debts arise from:
A fine or penalty imposed by court? Y/N Credit purchases of luxury goods or services in the last 60 days? Y/N Loans or cash advances in the last 60 days? Y/N Debts from willful injury to another person or another person's property? Y/N Child Support or Alimony? Y/N Student loans? Y/N Recent income tax debts and all other tax debts? Y/N Fraud, embezzlement, misappropriation? Y/N Debt for personal injury or death caused by your intoxicated driving? Y/N Obtaining property by fraudulent misrepresentation? Y/N
10. Last year you filed an income tax return?
Did you receive a refund? Y/N Are there arrears owing? Y/N Is there a copy available? Y/N
11. Are you paying/receiving any Child support or alimony payments? Y/N
I have been on this site for hours, many hours,
Welcome to the board!
Things sound rough right now. And yes, you probably do qualify for bankruptcy protection -- and there are ways to protect your house. The only way you will know for sure is to make an appointment with a bankruptcy attorney and find out. Usually the first visit is free, and you will know what your options are. Really, you need to go to our companion message board "debt questions and answers". Go to "home and garden" message boards and type in "debt questions and answers" to get there. On that board there is a section on bankruptcy. I have copied a posting from one of the experts there (cQ108) which tells you what to bring to your meeting with the bankruptcy attorney so he/she can tell you really what your options are. Hang in there. Keep posting here and there. The copied posting follows.
Megan
discussion title:
Prepare For Appt With Bankruptcy Lawyer
emoticon:
Emoticon
message #:
5410.1
from:
cg108
date:
2/1/2006 5:07 pm
replies:
2
When you schedule and meet with bankruptcy lawyers to interview them, you will want to provide income and expense data, plus assets. Here is a work sheet to get you started. This will help you when you meet with a lawyer and it will help the lawyer give you the best opinion on how to proceed without sifting through your documents.
PERSONAL DATA
Name/Social Security Number/ DOB/ etc.
Present Occupation:
Full Name and Address of Present Employer: (including zip code)
You have been employed since when?
Marital Status (Specify month and year of event if it occurred in the last five years, if applicable, for each of the below):
Married Common-Law Single Widowed Separated Divorced
Month/Year of Event:
Number of dependents who rely on you for financial support:
Name
Relationship
DOB
Address
MONTHLY INCOME - Estimated After Bankruptcy Petition is Filed.
Net Employment Income
Net Earnings of Spouse
Net Pensions/Annuities
Net Child Support
Other net income
Child tax benefit
Net Spousal Support
Net unemployment insurance Benefits
Net Social Assistance
MONTHLY NON-DISCRETIONARY EXPENSES - Estimated After Bankruptcy Petition is Filed.
Child Support Payments
Spousal Support Payments
Child Care
Medical Condition Expenses
Fines/Penalties Imposed by Court
Expenses as a Condition of Employment
Debts Where Stay Has Been Lifted
Other
MONTHLY DISCRETIONARY EXPENSES - Estimated After Bankruptcy Petition is Filed.
Housing Expenses:
Rent/Mortgage
Property taxes/condo fees
Heating/gas/oil
Telephone
Cable
Water
Furniture
Other
Living Expenses:
Food/Grocery
Laundry/dry Cleaning
Grooming/toiletries
Clothing
Other
Transportation Expenses:
Car lease payments
Repairs/maintenance/fuel
Public transportation
Personal Expenses:
Smoking
Alcohol
Dining/lunches/restaurants
Entertainment/sports
Gifts/charitable donations
Allowances
Other
Insurance expenses:
Vehicle
House
Furniture contents
Life Insurance
Other
Medical Expenses (not covered by insurance):
Prescriptions
Dental
Other
ASSETS DESCRIPTION (list the location and best guess estimate of the value)
Cash on Hand
Cash In Bank
Household Furniture (Fully/Partially Pledged/Exempt) These are typically "garage sale" values not what it would cost you to replace these items.
Retirement Savings Plans
Loans Due to You
Cash Surrender Value of Insurance Policies
Savings Plans /Bonds
Clothing and Medical Aids
Jewelry
Stocks/Shares
Estimated Tax Refund
Collectibles (Stamps, etc.)
House and un improved land (and how much is owed)
Mobile Home
Automobile/Model (and how much is owed)
Motorcycle/Model (and how much is owed)
Other Motorized Vehicle (and how much is owed)
Boat/Trailer (and how much is owed)
Any Other Assets/Tools of the Trade
List all debts, including secured debts and utilities.
Provide: Creditor's Name, Address, and Account Number, and Estimate Amount Owing
GENERAL
1. Within the last twelve (12) months, have you sold, disposed of or transferred any of your assets (vehicles, property, stocks, bonds, furniture, etc) If yes, list the asset, when, to whom and how much you made. Where did the money go?
2. Within the last twelve (12) months, have you made payments in excess of regular payments to any creditor? Y/N
3. Within the last twelve (12) months, have you had any assets seized by a creditor? If yes list the details.
4. Do you expect to receive any sums of money, or any other property within the next 12 months, which are not related to your normal income? Y/N
5. List the banks that you are currently dealing with, including safe deposit box (and list the contents).
6. Does anyone owe you any money? If yes, list details.
7. Are you a beneficiary of a will or will you receive an inheritance? Y/N
8. Has anyone started legal proceedings against you? Y/N
9. Do any of your debts arise from:
A fine or penalty imposed by court? Y/N
Credit purchases of luxury goods or services in the last 60 days? Y/N
Loans or cash advances in the last 60 days? Y/N
Debts from willful injury to another person or another person's property? Y/N
Child Support or Alimony? Y/N
Student loans? Y/N
Recent income tax debts and all other tax debts? Y/N
Fraud, embezzlement, misappropriation? Y/N
Debt for personal injury or death caused by your intoxicated driving? Y/N
Obtaining property by fraudulent misrepresentation? Y/N
10. Last year you filed an income tax return?
Did you receive a refund? Y/N
Are there arrears owing? Y/N
Is there a copy available? Y/N
11. Are you paying/receiving any Child support or alimony payments? Y/N
discussion title:
Prepare For Appt With Bankruptcy Lawyer
emoticon:
Emoticon
message #:
5410.1
from:
cg108
date:
2/1/2006 5:07 pm
replies:
2
When you schedule and meet with bankruptcy lawyers to interview them, you will want to provide income and expense data, plus assets. Here is a work sheet to get you started. This will help you when you meet with a lawyer and it will help the lawyer give you the best opinion on how to proceed without sifting through your documents.
PERSONAL DATA
Name/Social Security Number/ DOB/ etc.
Present Occupation:
Full Name and Address of Present Employer: (including zip code)
You have been employed since when?
Marital Status (Specify month and year of event if it occurred in the last five years, if applicable, for each of the below):
Married Common-Law Single Widowed Separated Divorced
Month/Year of Event:
Number of dependents who rely on you for financial support:
Name
Relationship
DOB
Address
MONTHLY INCOME - Estimated After Bankruptcy Petition is Filed.
Net Employment Income
Net Earnings of Spouse
Net Pensions/Annuities
Net Child Support
Other net income
Child tax benefit
Net Spousal Support
Net unemployment insurance Benefits
Net Social Assistance
MONTHLY NON-DISCRETIONARY EXPENSES - Estimated After Bankruptcy Petition is Filed.
Child Support Payments
Spousal Support Payments
Child Care
Medical Condition Expenses
Fines/Penalties Imposed by Court
Expenses as a Condition of Employment
Debts Where Stay Has Been Lifted
Other
MONTHLY DISCRETIONARY EXPENSES - Estimated After Bankruptcy Petition is Filed.
Housing Expenses:
Rent/Mortgage
Property taxes/condo fees
Heating/gas/oil
Telephone
Cable
Water
Furniture
Other
Living Expenses:
Food/Grocery
Laundry/dry Cleaning
Grooming/toiletries
Clothing
Other
Transportation Expenses:
Car lease payments
Repairs/maintenance/fuel
Public transportation
Personal Expenses:
Smoking
Alcohol
Dining/lunches/restaurants
Entertainment/sports
Gifts/charitable donations
Allowances
Other
Insurance expenses:
Vehicle
House
Furniture contents
Life Insurance
Other
Medical Expenses (not covered by insurance):
Prescriptions
Dental
Other
ASSETS DESCRIPTION (list the location and best guess estimate of the value)
Cash on Hand
Cash In Bank
Household Furniture (Fully/Partially Pledged/Exempt) These are typically "garage sale" values not what it would cost you to replace these items.
Retirement Savings Plans
Loans Due to You
Cash Surrender Value of Insurance Policies
Savings Plans /Bonds
Clothing and Medical Aids
Jewelry
Stocks/Shares
Estimated Tax Refund
Collectibles (Stamps, etc.)
House and un improved land (and how much is owed)
Mobile Home
Automobile/Model (and how much is owed)
Motorcycle/Model (and how much is owed)
Other Motorized Vehicle (and how much is owed)
Boat/Trailer (and how much is owed)
Any Other Assets/Tools of the Trade
List all debts, including secured debts and utilities.
Provide: Creditor's Name, Address, and Account Number, and Estimate Amount Owing
GENERAL
1. Within the last twelve (12) months, have you sold, disposed of or transferred any of your assets (vehicles, property, stocks, bonds, furniture, etc) If yes, list the asset, when, to whom and how much you made. Where did the money go?
2. Within the last twelve (12) months, have you made payments in excess of regular payments to any creditor? Y/N
3. Within the last twelve (12) months, have you had any assets seized by a creditor? If yes list the details.
4. Do you expect to receive any sums of money, or any other property within the next 12 months, which are not related to your normal income? Y/N
5. List the banks that you are currently dealing with, including safe deposit box (and list the contents).
6. Does anyone owe you any money? If yes, list details.
7. Are you a beneficiary of a will or will you receive an inheritance? Y/N
8. Has anyone started legal proceedings against you? Y/N
9. Do any of your debts arise from:
A fine or penalty imposed by court? Y/N
Credit purchases of luxury goods or services in the last 60 days? Y/N
Loans or cash advances in the last 60 days? Y/N
Debts from willful injury to another person or another person's property? Y/N
Child Support or Alimony? Y/N
Student loans? Y/N
Recent income tax debts and all other tax debts? Y/N
Fraud, embezzlement, misappropriation? Y/N
Debt for personal injury or death caused by your intoxicated driving? Y/N
Obtaining property by fraudulent misrepresentation? Y/N
10. Last year you filed an income tax return?
Did you receive a refund? Y/N
Are there arrears owing? Y/N
Is there a copy available? Y/N
11. Are you paying/receiving any Child support or alimony payments? Y/N