Also, it sounds like you may need to sit down, take some time and compute your income and expenses. There are some courses available for doing so. In fact, completing such a course is a requirement, at least here, in filing a bankruptcy, and you need to take one that is provided by an organization that is accredited/accepted by the bankruptcy court in your jurisdiction, and submit a certificate of completion of the course, along with a legitimate, supportable budget that you've prepared. I also had to file an asset valuation spreadsheet - Be conservative in assigning asset values, but be prepared to support the valuations, say with actual sales of comps that can be found on the Internet. My attorney advised me that she could only protect $4,000. The Trustee's office rep reviewed both the budget and the asset valuation worksheets. She asked what was kept in the storage shed that was on my budget. I was pretty straight and thorough in both the budget and asset valuation spreadsheets and didn't have a problem in their review of them. I supported asset valuations with photos and printouts of comparable offerings and sales. Most of the comps that I used were, more or less, distressed sale comps.Both an honest budget and the asset valuation spreadsheets will help, whether in try to negotiate a settlement or in filing a bankruptcy. The budget will help you find expenses you can cut. I exported my data file from Quicken Home and Business and refined from there... still refining - It's an ongoing process. I don't particularly like it, but it is a must and helps me in deciding, "No, I can do without that - I got this, that and the other I HAVE to pay, and I don't have this, that and the other income to pay those." The asset valuation might help identify some assets that you might sell on Craigslist or eBay. Do you really use them, or are they just sitting around, ultimately waiting for a distressed sale?Posting this is as much for my own reference, as any other purpose. It helps me to write stuff down and check back with what I've written, against what I've done...My bad(s) need(s) adjustments.Bob
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