Please Help!

[jennpickles]

What is the name of your state?Louisiana

Okay, here is the situation. My husband is thinking of filing in just his name. He has over 58,000.00 in credit card and personal loan debt, and 33,000.00 that we still owe on our vehicles. Every one of these accounts are in his name, and the vehicle loans are the only ones he didn't have open until after we got married (7 months ago). Together we bring home about 3500.00 per month, and our bills come to no less than 4000.00 per month. My questions are:

1. Do we make too much to even be able to file Chapter 7?

2. We have only lived in Louisiana for less than a month, will they let us file here?

3. Can-or WILL they take our property such as new computer, Big screen ( 1 year old), and about 800.00 worth of furniture that we bought in Missouri before we moved here (it was charged on a credit card).

Up until about 6-7 months ago, my husband literally had perfect credit. We then fought for custody of my nephew (who was 6 months old at the time), and then a month later found out that we were having a baby. All of the things that we then realized we needed were put onto his credit cards, and now we have gotten in over our heads. I am wondering if they will look down on the fact that we easily incurred most of this debt within the last year.
We are both in our mid 20's, and I never saw us having to do this, but I don't see any other way, with that amount of debt for us to be able to fix it any other way..

I appreciate any responses to my questions..PLEASE!!

 

[jennpickles]

Anyone?..Please.

 

[ihatearizona]

What is the name of your state?Louisiana

Okay, here is the situation. My husband is thinking of filing in just his name. He has over 58,000.00 in credit card and personal loan debt, and 33,000.00 that we still owe on our vehicles. Every one of these accounts are in his name, and the vehicle loans are the only ones he didn't have open until after we got married (7 months ago). Together we bring home about 3500.00 per month, and our bills come to no less than 4000.00 per month. My questions are:

1. Do we make too much to even be able to file Chapter 7?

2. We have only lived in Louisiana for less than a month, will they let us file here?

3. Can-or WILL they take our property such as new computer, Big screen ( 1 year old), and about 800.00 worth of furniture that we bought in Missouri before we moved here (it was charged on a credit card).

Up until about 6-7 months ago, my husband literally had perfect credit. We then fought for custody of my nephew (who was 6 months old at the time), and then a month later found out that we were having a baby. All of the things that we then realized we needed were put onto his credit cards, and now we have gotten in over our heads. I am wondering if they will look down on the fact that we easily incurred most of this debt within the last year.
We are both in our mid 20's, and I never saw us having to do this, but I don't see any other way, with that amount of debt for us to be able to fix it any other way..

I appreciate any responses to my questions..PLEASE!!

1. Your ability to file for Chapter 7 BK is dependent upon your monthly expenses. If you were not required to pay all of the bills that you are including in the BK how much would you have left over at the end of the month? If you have a lot left over after paying for basic needs you would probably have to go Chapter 13.

2. You'll need to check the statutes for filing in LA but I think it's anywhere from 90 to 180 days in most states.

3. If the furniture, TV, etc was purchased using a "store" credit card you may run into problems. If it was purchased using a general credit card (ex: Mastercard, Visa) you shouldn't have any problem with keeping those items as long as they were truly purchased over a year ago.