I have 40k cc debt, 100k student loan, a 6k car, a 140k house paying a .mortgage on, and this is all. I only make 20k a year I was laid off right before Corona hit the US + never got unemployment or any assistance
What about if my wife added me on the deed but I’m not on the Mortgage loan: 1 can remove myself without it being considered fraudulent? & 2 Would it even affect me if I file chapter 7 since we are since I’m not on the loan? Note: equity on the home is roughly $100K & the Homestead exemption here in South Carolina is about 67K
We are seriously thinking of it even got the paperwork from or lawyer. But my wife and daughter are not so sure, we don't have a lot, we both have a 10 year old car, no boats, no home etc but my girls are worried about someone coming in a taking their stuff, like clothes, my daughters pc she got on a education grant, my wife has a bunch of music cds and movies.
The concerns are understandable, but no one is going to take your household items. Every state has exemptions that protect most general items. For example, in Arizona where I practice household furniture items are protected up to $15,000. I would recommend talking to your lawyer about your concerns. In over 95% of chapter 7 bankruptcy people do not lose anything.
Please do a live stream mr Skiba, I need to ask you a question.. I was sent $50k debt collection from a collector on behalf of all state, I called them an asked them to mail proof of the debt to the address they have on file but I'm not sure the best thing to do as I don't have 50k to pay it so idk if I should declare chapter 7 or just let them try to go after me.
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Thank you for the information! As someone who previously filed lawsuits from both sides, the info Mr. Skiba provides is gold.
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I have 40k cc debt, 100k student loan, a 6k car, a 140k house paying a .mortgage on, and this is all. I only make 20k a year I was laid off right before Corona hit the US + never got unemployment or any assistance
What about if my wife added me on the deed but I’m not on the Mortgage loan:
1 can remove myself without it being considered fraudulent?
&
2 Would it even affect me if I file chapter 7 since we are since I’m not on the loan?
Note: equity on the home is roughly $100K & the Homestead exemption here in South Carolina is about 67K
We are seriously thinking of it even got the paperwork from or lawyer. But my wife and daughter are not so sure, we don't have a lot, we both have a 10 year old car, no boats, no home etc but my girls are worried about someone coming in a taking their stuff, like clothes, my daughters pc she got on a education grant, my wife has a bunch of music cds and movies.
The concerns are understandable, but no one is going to take your household items. Every state has exemptions that protect most general items. For example, in Arizona where I practice household furniture items are protected up to $15,000. I would recommend talking to your lawyer about your concerns. In over 95% of chapter 7 bankruptcy people do not lose anything.
Can you recommend anyone in the SO-CAL area?
Please do a live stream mr Skiba, I need to ask you a question.. I was sent $50k debt collection from a collector on behalf of all state, I called them an asked them to mail proof of the debt to the address they have on file but I'm not sure the best thing to do as I don't have 50k to pay it so idk if I should declare chapter 7 or just let them try to go after me.