My question involves bankruptcy in the state of: Ohio
I filed for Chapter 13 and got set up with a payment plan of $2,000/month which I have paid for a few months now.
In rough terms this payment plan will allow me to pay about $200k of debt I owe to creditors. I have not had the creditors meeting yet. It will occur soon
The company I work for stopped paying me about a year ago due to financial distress they were under. I am a corporate officer of the American subsidiary of this company and thus am not eligible for unemployment. I cant sue them because they dont have any money and furthermore I cant pay a lawyer because I have completely depleted all the money I have except for a very small amount left in my 401k whcih I have withdrew from deeply and will result in taxes that I cannot pay either..
As such I cannot make the $2,000 /mo payment nor any of the other utility and insurance bills I have.
What should I do?
I have about $50k equity in my home and a $15k car. If I file chapter 7, do I have to give my home and car up? I assume I do under Chapter 7.
If so is there any way I can protect the car or other assets or at least give them to my family who has already helped me and continue to do so. If I sell a friend my car and then use the monies to keep me afloat, is that wise? Also, do my creditors have any recourse in getting the car from my friend (even if he legally buys it) if I do end up in Chapter 7 -- I am living day by day.
Please help. . .

