My husband and I are in our Early 40's with 3 children, we had a few set backs with my husband being injured twice. We had to give up our medical insurance due to the high prices, we have 9,000.00 in hospital bills, along with credit card debt in the 24,000.00 range.
We live in Michigan, would my husband loose his work van and tools if we went with chapter 7? He is an electrician, and his work van is a year old, 2004 GMC. I also have a GMC that is not paid off yet, I still have 2 years to go.
We would love to be able to pay off these bills, but the credit compainies have no interest in helping us out. We made the debts and are willing to pay for them. Bank of America raised their interest on us to 25%. Citi Bank did give us a break at 0% on one card, but the other one it is 20% interest, among others.
My girls are not allowed to answer the phone anymore due to the credit card compainies and medical collectors.
I was told by the hospital collection agency that they will take our money from our account, or come in and take things from our home if we don't pay. I told them I could handle 50.00 a month and the women told me I was stupid and hung up on me.
I am just worried if we do, go with chapter 7, will we have a home and transportation. I am willing to sell anything, but our home and our transportation.
Thank you for your help,
Angel

Your best bet would be to claim either chapter 7 or 11 in now days there is a lot of things you will get to keep.there is always good and bad things when you claim bankruptcy the good is you get rid of all those excessive and outstanding bills make sure you claim everything.the bad is when you try to get credit you will either get denied or you will have a very high percentage rate also when you think things will go away you still get these people calling you and you have to tell them to contact your lawyer because you claimed it under bankruptcy and also there is the issue of fighting the credit report companies to tell them certain things were claimed in the bankruptcy's also its not always a good thing but just remember don't get sucked in again because it will be twice as bad next time good luck