Bankruptcy Questions (florida) Need Some Serious Help Options
Q: I am planning on visiting a local bankruptcy lawyer in a few days to discuss filing for bankruptcy, but beforehand I have some concerns on what I should say and not say... My current debt is as follows: I haven't received any documents.. but I'm sure at least a grand (I couldn't pay the last month I lived there so I quietly moved out) I was technically evicted. I have not made any payments on any of these debts in many months. AMEX & ITT quickly sent mY debt to a lawyer in ft lauderdale (I'm located in orlando) and this whole lawyer situation is keeping my stomach in knots, I barely sleep at all, I'm sure you know. STRESSED out! At first I made an arrangement to send a hundred dollars a month, and did it for 2 months... I lost my job some time later, then my apartment (eviction) and well, more drama with keeping jobs, drinking heavily, drug use. I am finally on my feet again, and I finally answered the lawyer's last call and talked to them, he pretty much said unless I send a large sum of money that they will take me to court. I told him that I would be able to after I get my tax return (I lied to buy me some time)... This was 2 weeks ago, yesterday I received a letter from the lawyer saying: "our client has requested that we commence an asset investigation to determine the following: "your source of income" "employment history" "checking/saving accounts" "automobile" "personal assets" etc... and the letter goes on, that is the jist of it though. MBNA & Providian have setup settlements with me, I am currently in the process of settling with MBNA (pay 900 in 4 months). I can not afford to pay MBNA, Providian, and this damn lawyer. The calls from Providian have stopped for the moment, but I'm sure soon I will get another offer to settle (I HOPE).. and I plan to settle that debt, for now I am focussing on paying MBNA off in the next 3 months. My first question; If this lawyer does pursue this and I have to go to court, what exactly am I going to face? What can happen to me? I work as a server (cash tips daily) my bi-weekly pay checks are $30 if even that. I claim 8-10% of my tips (minimum by law) Can the court reposes any of my assets? I live with 2 roommates in a 2 bedroom, We have the basics (TV/computer/furniture/etc) (I could just easily say my roomies own all of it, right?) I own a 91 mustang (payed off, have title) worth 5grand or so. (Can they repo my car?) I'm not on the lease on this apartment, does this matter? Is it true that if I send as little as $10 a month to the lawyer, he can not take any legal action.. because I am paying him(?) or does this apply to credit cards? People have told me to just send 10bucks a month and they will stay off my back. Should I transfer the title of my car to my parents to avoid it being repo'd? If I do end up having to go to court (I know there are additional lawyer/court feeds that I'm going to have to pay) What If I don't have the money? Do they just add that to my balance? If the judge rules, or whatever it is he/she does; that I have to pay, and I can't make the payments do to the fact I don't have the money- can I go to jail? Most of the purchases I made were small things (going out to dinner ALOT, gas, clothes, dvds, clubbing, partying) Nothing big (like a TV or stereo). And the last purchase on any of those cards was OVER a year ago (I remember hearing that if you are considering filling for bankruptcy that you should WAIT one full year since your purchase) to avoid having to pay back whatever it was that was purchased. Is this true? My Capital One card limit was $250. The balance now is over $500(late fees/over limit fees), they actually called today and (of course tried to get me to send a payment). I gave excuses and the lady just flat out said "look are you even going to pay this off or what" "-nope" and she hung up the phone (lol). Since the debt is so little, will it be written off as a bad debt? And I will never have to pay it?
A: -It wont work. They are wise to that move, and will take it back (I was thinking about it too, but I'm not anymore). Most of the value of your car is not exempt under FL law. You may lose it. The good news is, this would pay off almost half of your dischargeable debt (your student loan probably isnt dischargeable because its too recent). You might want to consider doing that anyway, and avoiding bankruptcy. You could bring your debt down to 4-5K, which might be manageable. But call a lawyer, they can speak to the particulars of your case and your state. By asking a few questions of a few diferent lawyers over the phone you will get enough answers to ease your mind a bit. And its free. Just call and ask if there is someone to ask a few questions about bankruptcy. Then later you can even sit down in person with them for another hour or so for a free consultation. -Make a list of your questions, and call an attorney. After they answer what they will, call another and ask the same or different questions that didnt get ansered the first time.