My husband and I lost both our jobs in October of 2011. My husband found a new job in November of 2011, but it required us to move from TN to IL. We own a home in TN and have been approved to do a short sale. However, we received a notice in the mail today that they are auctioning off our house on April 24, 2012.
We are wondering if our best option is to file Chapter 7 bankruptcy? We have about 10,000 dollars in credit card debt, medical bills, and 2 vechiles. We still owe on the vechiles and would like to keep those as we need them to get to and from work.
My husband makes 50,000/year and I am still unemployed. We have four small children and we are beyond stressed over this. We just don't know what the best thing to do is. Should we file after or before foreclosure? We do not want to keep our house in TN. Also, do we file in the state of TN or IL, since we now live in IL? Will we be able to keep our vechiles in a bankruptcy?
Thank you in advance for answering all my questions.
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