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Questions Regarding Chapter 7 in FL

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metalone
New Member

Questions Regarding Chapter 7 in FL

I have multiple chronic health conditions and I really need some feedback here. I have done a little research but thought I would ask a few questions here before seeing an attorney. I'm married with no children and live in FL. We live in an apartment (do not own a home) and all of our debt is unsecured (that I can think of). We are current on all accounts.

My husband and I filed for chapter 13 in 2007 and completed a 5 year payment plan. So we were finally debt free and looking forward to a brighter future. Well then the ball dropped and I was laid off from my job in July 2013 and also had more unexpected health conditions occur. Since then I have not been able to work steadily and have filed for SSD and was finally approved in the last couple of months. In the close to 3 years of waiting I drained my retirement funds and some of my husbands as well. The back pay was not enough to pay the bills off either. I am now considering looking into filing chapter 7 bankruptcy. From what I understand my SSD payments would not be included for the means testing so we should fall below the income limit for 2 people in FL. Here are some concerns I have:

1.) We have sold tons of things on eBay in the past year to make ends meet and therefore there are large deposits on our bank statements from PayPal transfers - are we going to need to wait 6 months to file so that those fall off and the trustee wouldn't question them?

2.) We own two vehicles free and clear - both older and not worth a whole lot but definitely worth more than what FL seems to allow. We have a 2002 Toyota Tundra and a 2005 Toyota Tacoma - probably worth $10 - $15k total I'm guessing. Will the trustee want to confiscate one of the vehicles or possibly both? My husband uses my vehicle - the 2005 to go to work everyday and for his part time job as well. Will taking out loans on them or at least one of them prevent this? We want to keep them both but surely the 2005...

3.) I have spending urges and cycles and greatly overspent during this time - large in part due to one or more of the meds I was put on. I even realized it one day and said it myself what the heck am I doing and I broke down in tears with an anxiety attack. When I spoke to my doctor he was like "Yes, the medicine can cause people to gamble, overspend, etc." - I was in total shock and did not realize this. So I have worsened the problem greatly myself and still have issues with this currently. A lot of it was spent traveling, on things for myself, my husband, etc. I'm guessing we need to stop all credit card usage and just use our checking account only going forward?

I'm sorry this is so long and I thank you if you have read this far and can offer any advice or insight. I have just ordered the NOLO Chapter 7 book as well. I need to figure out what the heck to do and if I should go ahead and schedule an appointment with an attorney soon... Any advice is greatly appreciated!

 

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1 REPLY 1
FireMedic1
Community Leader
Mega Contributor

Re: Questions Regarding Chapter 7 in FL

I filed last year in FL. The Florida Medium Income right now till sept is $43,136. If your under that amount. No means test. They'll want past 6 bank statements for spending. Past 3 yrs of 1040's. ect. I have a truck that was worth 5700, making payments on time, almost paid off. And back taxes. It was all wiped out. Talk to a lawyer. No need to freak out without taking to one first. You might be surprised all this stress was for nothing. They'll correct everything you need to do to meet Fl' and US Bankruptcy Laws.


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