Hello and thank you for allowing me the opportunity to assist you.
Question: “i am thinking about filing ch7 i need some advice and i am being sued by one atton. for a fin.company out of calf. if i pay him what he want me to each month i will be spending 500 more amonth than i make and if i fike does my wife haft to file with me or can it be sepret and would i get to keep any of my property”
Answer: If you file for Chapter 7 bankruptcy protection, then that will stop all collection activity, including the lawsuit. Your wife does not have to file with you, and therefore, it only makes sense for her to file if she is personally obligated to pay the debts that put you in financial turmoil.
If you do file for Chapter 7 bankruptcy protection, you will be able to keep some of your property. For example, if you and your wife own your own home, then your house is protected as long as you have less than $20,000 of equity in it. You can also protect $3500 of equity in a vehicle, and $1500 worth of tools. These are just examples…there are plenty of other “exemptions” as well. I suggest you consult with a local bankruptcy attorney who can review your assets and debts and help you determine if bankruptcy is the right option. It sounds like it could be, but you should really have an expert review all of the details of your case.
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