I really need an answer to help me out!!!

[BigJ]

I am in the State of Ohio and working on filling out my petition for Chapter 7. I DO NOT want my truck lease or my home included. I would like to re-affirm these and keep paying on them. How do I do this?

Do I have to list my home and my leased truck as assets on the petition?

I just want to make sure that I fill this out right the first time and I am at a stand still right now. Please Help!!!!!!! Any info. would be greatly appreciated!


Thanks in advance!

 

[dorenephilpot]

You must include, or list, ALL your creditors, even those for which you wish to reaffirm on the debts.

A reaffirmation agreement is a separate document signed by the debtor, creditor and the attorney for the debtor, that restates the terms of the credit, how it will be repaid and at what interest rate. It is filed with the court also. Your creditor will be happy to supply you with a reaffirmation agreement for their account.

Yes, you must list anything you own as an asset, and if you have any equity in the home, you must list it on your exemption schedule also.

Hint from Heloise: If you are stumped on these very basic issues, you might not be a good candidate for a do-it-yourself bankruptcy.

Although you have the RIGHT to do any legal proceeding that you want, on your own, that doesn't mean it's the smart thing to do.

I've seen a LOT of do-it-yourselfers at the first meeting of creditors. Their hearings take about five times the normal time to do because there are so many problems with the petitions, and most of the time, the debtor gets sent away to gather more information or revise his petition. Then he gets to come back in for another hearing and gets the "opportunity" to do it all over again....