First off, that was a lot of paperwork. My nerves have finally calmed down some. As the title stated I filed Chapter 7 today.
If I can give one single piece of advice for someone planning to file, please please please talk to multiple attorneys. Not just for price comparisons but for good information about your particular situation and not an attorney they just trying to get you filed to get some money. My attorney is great. Out of the 8 I contacted, she was the ONLY one that said chapter 7 was possible for me. I gave each attorney the same speil. The rest of them said you only qualify for chapter 13. This reddit thread also helped a lot as well.
One of my biggest concerns was the means test. I’m sure how the numbers work vary from state to state. It’s one of those you don’t know until you know situations for me. When we looked at the breakdown, there was no way I was figuring out all the state allowances of you will and other calculations. My income was over by around 8k. After “math” I qualified by $177. I was able to keep my house, car, and timeshare. I may miss out on some of my tax return but that’s ok. It all depends on when the BK is discharged.
Fun fact, at least for Georgia , if you keep your house and want to refi for a lower interest rate you potentially can by showing your bank that you’ve had great payment history.
As far as protecting cash or for example if you have equity in your car or expecting a large tax return in GA $11200 can be protected. You just distribute that protection amongst your assets if you will. Your attorney should guide you a a strategy that makes sense.
My 341 will be in a few weeks or so and it’s pretty much everything that you’ll find on the reddit is what my attorney said. You got 3 answers basically, yes, no, or I don’t know.
As I’m writing this my case number came in after filing starting at 1030 am and it’s about 6 pm.
Thanks everyone in the reddit that responded to any post I’ve had.
Good luck to anyone else filing!
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