Re: BK-question about decision on petition for Linda
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Posted by Pearl
(126.96.36.199) on September 08, 2002 at 13:12:22:
In Reply to: Re: BK-question about decision on petition posted by Linda on September 08, 2002 at 02:14:57:
I'm in Alabama. I told the lawyer I consulted with Friday that I had read you have 3 options in Ch7 (reaffirm, not reaffirm but continue to pay, or surrender). I want to keep our vehicles and home (no equity). He indicated that you either reaffirm or surrender. He said that in some cases, the creditor does not get the reaffirmation papers in on time and you don't reaffirm. He also said the only thing they may look at was the $800 a month I had listed for food. When I bought groceries the next day, I spent $170 (with no steak, or luxury items). So I wasn't far off on that. Groceries are HIGH and climbing. But, to prevent red flags I may reduce the food amount and increase the clothing amount (which I realized I had underestimated after I thought about it). He said that if the judge thought I had overestimated by $200, they might force me into Ch13 and give that $200 to the creditors. To me, that sort of defeats the whole purpose of 'starting over'. You hope that you will not be scrimping pennies to cover bills each month. Been doing that long enough and it has me on anti-depressants now. Thanks Linda!
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