Re: Newbie here moving internationally...

Hi, Paula!

Thanks for responding to my very long post! lol... Sorry for the
lenght of it...

That is what I figured would happen with the house. The car actually
was paid off, but then I had to refinance it so that I could have the
money to pay the fees for my husband's immigration fees and attorney
fees. The payments are current, though, so I guess I will be safe
with that.

I will be calling a lawyer next week to set up an appointment for a
consultation. Hopefully they will be able to give me some insight on
all this, too.

As it is, I've learned a lot already from reading the posts in this
group. It has been so helpful to me! And such a relief, too...

Vickie

--- In , Paula Ogden
wrote:
> Hi Vickie!
> Welcome to the group! Laws very by states but here in Texas, if
you want to keep your car, you have to be current on payments and you
have to reaffirm the debt. So as long as you've done that, you'd be
able to keep your car, computer, etc. 401k accounts here are exempt
so no worries there. As far as the house, you'd either need to sell
it or it would be foreclosed and you'd have both a bankruptcy and
foreclosure on your credit. Any furniture you still owe on would
just go back to the creditor if you didn't reaffirm. Most other
household items would be exempt so you wouldn't lose them. Here's a
few websites you can check out.
>
>
>
> -
AEC595AF30EA15CE
>
>
>
> Hopefully those will answer any questions you may have.
>
> Paula
>
> Vickie wrote:
> Hi All!
>
> I have been reading through a lot of these threads and it is such a
> relief to see others who are in the same situation I am. Same
> situation financially, at least. Altho, I believe my reason for
> filing for bankruptcy may be a little unique. I think it is my
only
> course of action right now.
>
> Most of the debt that I have had been fooishly acrued in a previous
> marriage. My husband and I split amicably and we split everything,
> including debt. I have since re-married to a wonderful Swedish
> man. We have started our new life together. I re-financed the
> house that I owned with my previous husband completely in my name
> since he did not want it. In doing so, I also got a second
mortgage
> on top of the first to pay off one of my high credit cards. This
> was a great situation for both of us. My new husband is a
carpenter
> and we could have made this house gorgeous. We also went out and
> bought all new furniture (on credit of course). We were in the
> process of applying for permanent residency for my husband when we
> came across a complication. To make a long story short, he has to
> go back now or he will be barred from coming back to the US for 10
> years! We've searched all our options in this situation and know
> that going to Sweden is our best one. After three years we can re-
> apply and try again for his permanent residency here.
>
> But now I have this house, new furniture and a ton of debt that I
> will not be able to repay before I move over there! If he was able
> to get his residency, he would have gotten a job (construction jobs
> are still numerous here in NC luckily) and paying off this debt
> would not have been a problem. I have been holding on as best I
can
> with one income, but it is finally starting to catch up and I am
now
> putting off bills so that I can pay others. My credit has been
> stellar up to this point, but I see the downward spiral on the
> horizon. I have never been in a situation like this in my life.
> All I can think about is money and how I will pay my bills. I've
> had to borrow money from a good friend just so that I can put food
> on the table. To say that this makes me sick and depressed is an
> understatement. I think the Kleenex company is doing a booming
> business thanks to me! :-(
>
> Anyway, I guess my biggest question is that will Chapter 7 be my
> best option?? My paperwork to Sweden should be done in about 8
> months and there is no way that I will be able to pay this mountain
> of debt paid off. I really just want to get rid of everything -
> house, furniture, etc. The only things I want to keep before the
> move is my car, my computer, and my 401K. I'm just going to rent a
> furnished room until it is time to go so won't need anything else.
> Will a Chapter 7 take care of my house, too? Or will I have a
> double wammy of a foreclosure and bankruptcy on my record? :-(
The
> house market is so slow right now, I don't think I could sell it in
> time. I've seen houses that have been on the market for well over
a
> year now! And with the condition its in, I don't think I could get
> enought to pay off the 1st and 2nd mortgages on it.
>
> Right now I am just so scared and very ashamed at the situation I
> have put myself in. Reading your posts has helped to feel a little
> better in that I am not alone. Any insight that I could receive
> would be so much appreciated.
>
> Thanks in advance!
> Vickie
>
>
>