BK Questions

What is the name of your state? Indiana

I am at a loss with my debt. I have looked my situation over and there just seems no way to get my past due debts repaid. I have 2 default judgements against me now. If I filed for Chapter 7,

1) Can I keep my vehicle, the payments are current and it would be my only means of transportation.
2) Will future tax refunds be taken?
3) Will the judgements be discharged in a bk?
4) Will a bk stop wage garnishment actions?
5) Do you have to have an attorney to file?

Any help and information will be gratly appreciated!!!

[dncr]

Look through the FAQ's on this site...they can answer most of these.

[Ladynred]

Here's some answers:

1 - Yes.. if your payments are current you can reaffirm and keep it. Even if you DON'T reaffirm, if you keep paying for it you can usually keep it. That allows you to walk away from it if you decide afterwards that you can't afford to keep it.

2- Not likely. Unless you get them before your discharge or (I believe) within 6 months of your discharge, then the trustee may get ONE.

3 - The debts that caused the judgments will be discharged. You will then have to have the judgments vacated, and that'll take a bit more paperwork and possible additional fees.

4 - Absolutely ! It stops ALL collection actions.

5 - No, but its recommended. Bk can be filed pro se (w/o a lawyer), but its a difficult process and most people can't deal with the mound of legal papers that you have to deal with.
You can get a free consultation from most lawyers, call around and ask and go to a couple. The filing fee is $200. Many lawyers will take payments so ask.

Thanks so much, I appreciate your help!

Ladynred's answers are essentially correct.

Though she's not a lawyer, she knows a lot about this area.

Given the time of year here, it's unlikely that even one of your tax refunds would be affected. Now, if you wait till spring, that may be a different story.

In other words, if you have received and spent your 2001 tax refund and file now, you have no idea whether you'll get one in 2002, first of all, and second of all, your discharge would be granted long before the filing deadline for the taxes.