Questions about Chapter 13

[Linda7]

Okay, now I've started thinking about filing bankruptcy too, so I have a lot of questions . . .

I'm tired of fighting with all the creditors that seem to be coming out of the woodwork! They're too late - I'm disabled due to an accident and all my assets are gone. Most of mine are all junk debt buyers now with the exception of one original creditor that is apparently hanging on to the account.

Can I file fairly easily pro se?

Is there a site where I can look at what papers are involved and what questions I'll have to answer?

If I file, can I do this separate from my spouse?

I have no vehicles, but my spouse does - will my filing affect his ownership of the vehicles?

When you sell your house, how long do you have to wait to file bankruptcy?

If you file bankruptcy, what would happen if you inherit property or is there a time limit for that?

Should I wait for all my creditors to get judgments (if they do) before I file or should I file and get rid of them before they file suit?

I had hoped that the Georgia SOL of 4 years would help, but since the appeal case in 2008, it seems they view credit cards at 6 years now. Then I hoped that using the cardmember agreements clause showing that Virginia laws would govern the agreement would put it past SOL, but then everyone says that they have to use the state you live in . . . then I wondered about arbitration and maybe through arbitration that they would look at them as contracts and use the Virginia SOL - but, then I fear there may be costs back to me which I cannot afford . . . I just don't know what to do!

Any help would be appreciated!

[jq26]

Okay, now I've started thinking about filing bankruptcy too, so I have a lot of questions . . .

I'm tired of fighting with all the creditors that seem to be coming out of the woodwork! They're too late - I'm disabled due to an accident and all my assets are gone. Most of mine are all junk debt buyers now with the exception of one original creditor that is apparently hanging on to the account.

Can I file fairly easily pro se?

Is there a site where I can look at what papers are involved and what questions I'll have to answer?

If I file, can I do this separate from my spouse?

I have no vehicles, but my spouse does - will my filing affect his ownership of the vehicles?

When you sell your house, how long do you have to wait to file bankruptcy?

If you file bankruptcy, what would happen if you inherit property or is there a time limit for that?

Should I wait for all my creditors to get judgments (if they do) before I file or should I file and get rid of them before they file suit?

I had hoped that the Georgia SOL of 4 years would help, but since the appeal case in 2008, it seems they view credit cards at 6 years now. Then I hoped that using the cardmember agreements clause showing that Virginia laws would govern the agreement would put it past SOL, but then everyone says that they have to use the state you live in . . . then I wondered about arbitration and maybe through arbitration that they would look at them as contracts and use the Virginia SOL - but, then I fear there may be costs back to me which I cannot afford . . . I just don't know what to do!

Any help would be appreciated!

In order to your questions:

1) With no assets, pro se filing isn't that difficult. If you are below the federal poverty level, you may even file for a filing fee waiver ($299 to file a Chapter 7).

2) Here ios the federal court website. http://www.uscourts.gov/FormsAndFees/Forms/BankruptcyForms.aspx

I also posted a link to the pro se filing checklist. Check my pervious posts so you don't miss anything. If you have specific questions, post Qs in this forum and someone will help you.

3) You can file separate from your spouse. His vehicles are not your assets so you don't list them.

4) There are lookback periods for home sales. I believe it is two years (please check this!!). It is a moot point though if you didn't walk away with cash.

5) For inheritance, there is a 180 day "lookforward" period. If you inherit within 6 months of discharge, then the funds are supposed to go to the trustee. To be honest, I don't know the mechansim for this because it is obviously pretty rare. So whether the onus is on you to report it to the trustee or it is up to the trustee to check with post-discharge debtors is an open question.

6) Regarding judgments, why bother to wait? Post judgment procedure isn't fun either. But technically it doesn't matter when you file. Just get the peace of mind sooner, imo.

7) But if you are truly judgment proof and have nothing, then you don't have to file. But it'll stop the barbarians at the gates in their tracks.

[Linda7]

But, and correct me if I'm wrong - if they get judgments - even though there is nothing for them to get from me now, those judgments will sit - waiting for me to have something and they can be renewed forever.

But, with a bankruptcy . . . it will fall off eventually - right? And like you said, if I inherited something - further off than 6 months, I might be okay . . .

I'm thinking about it this way - a bankruptcy, I hope has a drop off date and if something happened to my spouse and I inherited his assets, they couldn't get them if the inheritance happened after the 6 months. But, with those judgments sitting there - if I "ever" inherited anything - there the judgments would be waiting to swoop down and get it!

Is that correct?

[Freddy01]

But, and correct me if I'm wrong - if they get judgments - even though there is nothing for them to get from me now, those judgments will sit - waiting for me to have something and they can be renewed forever.

But, with a bankruptcy . . . it will fall off eventually - right? And like you said, if I inherited something - further off than 6 months, I might be okay . . .

I'm thinking about it this way - a bankruptcy, I hope has a drop off date and if something happened to my spouse and I inherited his assets, they couldn't get them if the inheritance happened after the 6 months. But, with those judgments sitting there - if I "ever" inherited anything - there the judgments would be waiting to swoop down and get it!

Is that correct?

Correct Linda - I'm not sure about your state but in FL judgments are good for 10 years then can be renewed for another 10 more years.

After your BK is discharge that's it. The debts/judgements are gone.

You might want to look into filing ch 7 if you don't have any assets. You can file single if everything is in your husband's name.

[Linda7]

Wait a minute - I think I even have the bankruptcy thing wrong. I think I should be looking at 7 instead of 13?

[Freddy01]

Wait a minute - I think I even have the bankruptcy thing wrong. I think I should be looking at 7 instead of 13?

13 is when you have enough money to pay back your creditors and if you are behind on your mortgage/car payments/taxes, etc.

7 would wipe it all clean if you qualify for it.

I'm boarderline 7. I'll know for sure next week.

[jq26]

Yes, a 7 would be where you want to go. It will stay on your reports for 10 years from the date of filing. But if you worked at it, you can have good credit again after 2-3 years.