bk or doing nothing?

[tamijean]

texas
what would be the advantages/disadvantages of just doing nothing versus doing bk under the new laws?by doing nothing you would not be subject to the means test.also how much is the maximim they can take for a debt in the means test.one more point on the means test if you can't make the payments what happens, is garnishment now legal in all states?do we now have debtors prisons,what can they do to you now?
thank you for any replies, we have sort of been paying as we can and our medical bills, mainlt extremely high prescription bills get us in dire straights from time to time.also are pension plans and 401ks still save.sorry this was so long!

[bigun]

Tx. has no wage garnishment but, if they find you bank account they can levy it.
Pension plans are exempt from creditor seizure.
If your income is above the median for your state under bk reform, you'll not be able to file a Chapter 7. You'll end up with a Chapter 13 and all disposable income will go to repay debts.
If the dets are large, don't screw around with this. File before the law changes.

[toughluck73]

Is there a reason you are not filing under the current law before it runs out?

[tamijean]

texas
ii pay what i can on the unsecured accounts.the ones past the sol i of course let go, we had some really bad bills, medical bhills with no end in sight got me behind on credit cards. all the secured items we pay on, one way or another.except for a judgement of 15000 my husband got sued on,
we have reformed our spending habits, son in college is expensive also.anyway if all my secured stuff is safe under federal law why go through the pain and expense of a bk.trust me i have the guillt thing already, the nerve for anyuone in my family to get sick and need drugs and doctors.you get the point, thanks btw big gun, you are so cool.