Long story short, I spoke with an attorney in his office and he advised me that I could file chapter 7.after going over my finances. I’ve been unemployed for the past two months (collecting unemployment). I was making 65k a year but developed a gambling problem and took out two mortgages in my home last year (210k worth 245k). I also owe 80k in loans and credit cards which was attempting to discharge but keep my home.
A day later he advised me that since I took out the two mortgages within the past 4 years that I wouldn’t qualify for chapter 7 (Is this even true?) and urged chapter 13 in which I would have to pay $1600 a month for 5 years.
I also advised him that I should be able to qualify for non consumer chapter 7 since 80% of the credit card debt went towards day trading (buying prop firm accounts). He said that I would need an LLC for that but didn’t want to argue with him.
submitted by /u/Easy-Decision4065
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