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Chapter 7- Income/Expenses Important question! Any advice?
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Posted by Cara
(152.163.252.134) on January 19, 2004 at 20:05:17:
hey guys- i have been watching my court and checking my credit reports(every six weeks or so) as you know, my two Providian accounts(one for 7500, other for 4500) were sold to collection agencies about 5 months ago, they were charged off a little over a year ago.(SOL in my state is only 3 years) Anyway, i am convinced that one or both will not serve me properly when they sue(due to the fact that they only have my PO Box)And my physical address is not on any of my credit reports, nor do they have my phone numbers. And strangely enough I havent received one collection letter! Be that as it may, after bills and expenses, I have about 500-600.00 of disposable income every month now. Which, btw would change to nearly nothing if i had to get a car- my 92 car with 200,000 miles on it is not going to last forever. As it is too late to deal with providian directly(I had lost my job which is why i stopped paying, i now make about 38000 per year)i DO NOT want to deal with sleazy collection agencies(one of them is Unifunds) If sued I planned on declaring BK- I have about 35,000 in credit card debt, school loans.. anyway, since i have 600 in disposable income, i CANNOT be approved (discharged) for Chapter 7 right? I always thought they went by your TOTAL debts versus your assets- which i have none, just 3000 or so in my bank accounts). I am just trying to avoid having my bank accounts seized or wages garnished, i would be happy to send these collection agencies 200 or so per month, but im wondering if thats a smart thing to do. I am scared to call them and open a can of worms. Any advice? Thanks as always guys!
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