What is the name of your state? Virginia
I have several points I would like to get opinions from experts about. I have already spoken to two local lawyers, and I will probably speak to a third because the first was condescending and the second said that he could accomplish miracles....IF we gave him 1/4 of our annual income for last year.
1. 150k in student loan debt (between two people and adding in penalties and interest, etc) - no degrees - under $10k TOTAL AGI in 2004, expecting an AGI of $15-20k in 2005. Do we file our adversary proceeding before the 341 or after?
2. Failed business. My husband and I were 2 of 2 partners in an LLC. The LLC was cancelled 2 years ago for lack of paying the annual fee and the business has dried up from a high of $30k to the current $4k annual gross income. There is one bill in the name of the cancelled LLC. Does a separate Chapter 7 have to be filed for it?
3. Unknown debt. Many years ago (1985) when my first husband and I were forced into Chapter 7 by a quarter of a million dollars in medical debt, I missed some things when we took all of our paperwork to the attorney. Two years later I had creditors telling me I still owed them since I hadn't listed them specifically. I have seen that if it is unintentional that isn't supposed to be the case, but I would just like to see it again.
4. Automobiles. I own a 1979 Chevy pickup that I bought for $700 last August and my husband owns a 1996 Nissan that we paid off last month. Are both of those vehicles exemptable? Either? We haven't even recorded the paid off lien yet! I know paying off the car won't be considered preferential, because they had the title.
Ok, I think that is all I can think of at this second. Thank you for your help.
VaUnicorn
I have several points I would like to get opinions from experts about. I have already spoken to two local lawyers, and I will probably speak to a third because the first was condescending and the second said that he could accomplish miracles....IF we gave him 1/4 of our annual income for last year.
1. 150k in student loan debt (between two people and adding in penalties and interest, etc) - no degrees - under $10k TOTAL AGI in 2004, expecting an AGI of $15-20k in 2005. Do we file our adversary proceeding before the 341 or after?
2. Failed business. My husband and I were 2 of 2 partners in an LLC. The LLC was cancelled 2 years ago for lack of paying the annual fee and the business has dried up from a high of $30k to the current $4k annual gross income. There is one bill in the name of the cancelled LLC. Does a separate Chapter 7 have to be filed for it?
3. Unknown debt. Many years ago (1985) when my first husband and I were forced into Chapter 7 by a quarter of a million dollars in medical debt, I missed some things when we took all of our paperwork to the attorney. Two years later I had creditors telling me I still owed them since I hadn't listed them specifically. I have seen that if it is unintentional that isn't supposed to be the case, but I would just like to see it again.
4. Automobiles. I own a 1979 Chevy pickup that I bought for $700 last August and my husband owns a 1996 Nissan that we paid off last month. Are both of those vehicles exemptable? Either? We haven't even recorded the paid off lien yet! I know paying off the car won't be considered preferential, because they had the title.
Ok, I think that is all I can think of at this second. Thank you for your help.
VaUnicorn