Chapter 7 planning and questions

[CoconutTeaNLime]

Looks like I'll be filing chapter 7 in November. 

My head is spinning and there are so many things I'm unclear about. 

1. I owe NFCU about 7.5k on a credit card, 90 days past due. What are the odds they will sue and garnish me before I can file on Nov 1?

2. I have a car I'm not going to keep. Realistically, how likely is it that I'll be able to finance another one without a gap in my transportation? Also, how likely is it that DCU will repossess it without notice? I know the automatic stay is a thing, but I'm worried about them taking it as soon as I file and not having a means of transportation. 

3. I'm expecting a refund from federal student loan proceeds for the fall semester. How is that going to be looked upon? I forgot to ask the attorney I had a consult with about this. 

4. My family situation is unique. I got divorced last year, have three kids (18, 15, and 13), plus my 18 year old's 8 month old daughter, plus my elderly stepfather. My dad does not have legal status in the US and has a a plethora of health issues and therefore doesn't work. Is this going to cause legal problems for him if I file? And also will that living arrangement be a problem for me if not? We all live together and I'm the only breadwinner. 

I've had one consult with an attorney and I'm going to have a second next week so I'll have representation when I file.

Any thoughts or advice is much appreciated. 

[FicoMike0]

I'm no expert on bk7, but $7.5k doesn't seem like enough to take such a drastic step. Have you contacted navy about a recovery pl an? Some lenders will suspend the account and set up a payment plan with much reduced interest. Most of your min payment is likely interest.

you may be able to make some surrender deal with dcu, giving you some control an the loss of the car. How bad under water are you on the car? I expect you can get a car after filing from a but here, pay here place, but you'll get a bad deal on both the car and the financing.

I'm pretty sure any refund you get will be considered income. Maybe use it to buy a cash car before filing.

Someone else posted good results with carmax after filing.

PS, I wouldn't mention the illegal father, except to your attorney. You don't know him or where he lives. You have enough to deal with.

[CoconutTeaNLime]

So the $7.5k is just that one lender. It's probably closer to $65k total. 

[FicoMike0]

Depending on your income, that could be bk territory.

With all those dependants, have you applied for help from the county? As far as a lawsuit, that's a question for atty. Why are you waiting until nov? Id plan to file as soon as I got notice of a lawsuit, which might be never. Do you have any assets or would they just be going after attaching your paycheck?