crnbread73 Posted November 26, 2008 Report Share Posted November 26, 2008 My hubby is looking in to BK and we are trying to decide if should do Ch 13 or 7. He has no income and my only income is from Unemployment. So I was looking on the BK court's website and they state the average income for the last 6 months prior to filing. Well my hubby has only been out of work for the past 3 months. I am not sure if he qualifies for Ch7 but on the other hand we have no substantial income right now. Also the exemptions for cars. He has a truck that is 8 years old but is paid for. He uses it for work when he is working. Per the KBB the private sell value is $4200. But if he sells this truck he has no transportation for work. he works in construction so he needs truck for tools. Can anyone advise? Link to comment Share on other sites More sharing options...
bingo Posted November 26, 2008 Report Share Posted November 26, 2008 Ca. has some pretty genorous wildcard exemptions that may cover the truck.2 rules to keep in mind in a Chapter 13. You need a regular income to fund the plan and, unseured creditors can't get less in a 13 that they'd have received in a 7.I'd think you have no problems with a 7. Most bk lawyers give free or lowcost initial consultations. Speak with a couple and see what they say. Link to comment Share on other sites More sharing options...
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