MY wife is going to end up having to file Chap7. We pass the means test
for income as she's working part time and I'm unemployed.
Two part question:
I own two homes, that's not in her name, that I bought before we got married. Does that get listed as one of the assets? They are underwater regardless so there won't be any selling of them. But they are in my name, my brothers name and his wifes name.
We have not been using credit cards to buy any luxury items. Strictly things like food, gas, Walmart, Publix, the occasional eating out and that's about it. No Rolex's or Motorcycles, nothing like that. We just need the cash to keep paying our bills for the time being. Provided it's not flagrant, will they try to make us reaffirm the debt. It's only about 7500 in credit cards.
Reason we might have to file BK is due to potentially losing a civil case in the $100k range that we obviously can't pay.
The CC balances are $3k on one (that's three years old and always paid on time), $2k on another that's always paid on time and a year old. And another one that's 4 years old, $2k and always paid on time. Her credit is great. I just know if we lose this case, we will file Chapter 7