filling Chapter 7

[blondi372]

What is the name of your state?Georgia
I have gotten way in over my head in my credit card debt and have not idea how I am going to pay it all back. I wanted to find what is the process for filing Chapter 7 without losing my house or my car. Where do I start first to get this started and how much does it cost?

Thanks for your time.

 

[bigun]

Most bk lawyers give a free initial consultation. Thal with a couple and get all of your options explained. Here are Ga.'s exemptions.

http://www.thebankruptcysite.com/bankruptcy-exemptions/georgia.php

 

[blondi372]

I am still a little confused on the exceptions like:

Motor vehicles to $1,000

Animals, crops, clothing, appliances, books, furnishings, household goods, musical instruments to $200 per item, $3,500 total

Sorry.

 

[bigun]

The $1000 equity in the auto means, you may keep a car that has equity of up to a $1000. How much is your car worth? If it's financed, subtract the market value from the amount owed to get an idea of your equity.
The personal exemption allows you to keep up to $3500 worth of books and hh appliances,etc. You value all of that stuff at gargage sale value.

 

[blondi372]

My car is paid for. The only think I am worried is I don't want to loose my house and item inside in them nor my car. What is the best solution for taking care of this debt problem.

 

[bigun]

The best way to take care of the problem is, pay them.
How much do you owe, what sort of income do you have? What is the car worth and how much equity in your home?

 

[blondi372]

I owe out about $30,000 in credit card debt. I have two mortgages on my home which I pay abou $1,000 a month for I bring home approxl $2100 a month from my paycheck and my car is paid for probably worth only about $4000. i know i should pay them and i really want to, but my minimums are getting so high that i can't.

 

[bigun]

I'll revert to an earlier post. Go see a couple of lawyers and get your bk options explained.

 

[stepmom&mom]

Sorry...posted that in the wrong place!!