Filing beginning of March

[had6010]

What is the name of your state? OH

Hello! I have asked several questions in the past but now that I am getting closer to my filing date I want to make sure I have this all straight.

I have $30,000 in credit card debt. I have a home I am mortgaging since October(I am under the allowed equity limit in Ohio). I make $43,000 per year but between living expenses, car payment(lease), mortgage payment, and student loans I can't afoord the $750 a month in credit card minimums....let alone pay them off!! I have no funds in savings and live paycheck to paycheck at this point.

At the advice of my attorney, I am waiting to file Chapter 7 in the beginning of March. I received my tax refund already ($784 fed and $318 state) and am using this to pay attorney's fees and filing fees. I am receiving a bonus of $1400 (after-tax) on March 4th and I have to use this to build a fence to keep my dog safe in my yard (he has been brutally attacked by a neighbor dog twice recently--Also, the fence materials will be bought prior to filing in mid-March). My lawyer said that I will have no issues with the way I have used the tax return or the bonus money. He also does not believe that I will have any problem getting a discharge.

I am very nervous about this. I know filing bankruptcy is a very serious thing and will affect me for many years. I worry about my 341 meeting and waht the trustee's verdict will be after I file. After reading through this forum it seems like everyone has so much more debt and makes so much less money than me....but I truly am drowning in debt! Moreover, being in debt has nearly ruined my relationship with my boyfriend (him having to always pay for everything) and has emotionally bothered me to the point of lost sleep and such. Now that I see a light at the end of the tunnnel by filing I worry tat it is going ot bring a whole new set of issues...mainly that the trustee will dismiss my case or something.

Do I have any reason to be worried? Is it true that 98% of Chap 7 cases are discharged without any issues? Is the 341 meeting scary?

Thanks...I really need some support.

 

[sbever]

I'm also afraid of the 341 meeting! I'm not keeping my house and my lawyer wants me to try to file some sort of agreement to lower my student loan debt however I have read on here it is nearly impossible to do so or at least completely discharge them. I'm hoping my lawyer is not just trying to get more money out of me because I have to squeeze rental deposits and utility deposits out of my tax refund as well as pay him. :-/

Are there a set of questions asked by the trustee or whoever is at the 341 meeting?

 

[bigun]

You guys are not alone. Nothing is going to shock your trustee.
Here's a day in bk court. There are some damn big numbers filing daily.
http://www.usdoj.gov/ust/press/articles/abi_05_2003.htm

 

[had6010]

I have read these numbers before and they are helpful to know...but I guess my real concern is that my situation just doesn't seem as bad as most. I was honest when filling out my petition (lawyer will submit it in March when I am ready) and I truly am broke but everyone else seems to have it so much worse than I do. Receiving a discharge of my debt will truly allow me to start over fresh (with the exception of shcool loans of course) but it seems like the other situations I read people aren't really going to be much better off after they file. It just seems to easy to be honest...I have agonized over my debt for so long and have lost so much sleep over it I can't even begin to tell you but I just fear that the Trustee will tell me I don't qualify for a discharge for some reason and force me into Chapter 13....After discharge I will be even as far as money coming in and going out for expenses (not luxuries)...my income versus debt is what the trustee looks at right? I am not compared with other cases? This whole 341 meeting has got me scared to file...

 

[bigun]

Your situation is not compared with anyone else. Circumstances are different for everyone. Don't worry about what you perceive is going on with others. Just take care of yourself and let your lawyer handle everything. From what you've posted, your income just won't stretch to pay for the secured items and still maintin a reasonable quality life.

 

[had6010]

Does anyone have a link of the quesitons that will be asked at the 341 meeting? I know there are standard questions but what do they ask outside the standard? I had read in several places that you don't need to explain how you got into debt but then I read one of the threads where someone said the trustee did ask how he got into debt? I can answer that but I want to prepare myself. I guess my attorney will go over this stuff with me befor ethe meeting...right?