Has anyone ever had to file for bankruptcy? I think we’ll need to do this. My state offers a relief program, but you must pay them for liquidation services. I’m scared we’ll lose our house and vehicle. I also have my own credit cards, but I don’t use them unless it’s an emergency, and I AlWAYS pay it off. All the debt is from my husband and my spending of expensive games, gifts, birthdays, TV’s game consoles, furniture, hospital bills, Dr’s visits, emergency visits. It’s mostly the medical bills that have us pinned. We’re at about $24,000 in debt, with $15 here in debt, $20 there in debt. And the emergency room bills are $2,000 or so. All the furniture we bought on credit that we threw away on the base when were stationed. As of right now we have $0 to our name, because we’re paying off debt. Now! We don’t have student loan bills from school. My parents pay for my classes and my husband’s military bill paid his off. I’m desperately in need. Anyone with bankruptcy experience chime in please.
It’s harder to file for bankruptcy then it was ten or fifteen years ago. I don’t know the laws. Can you look into some kind of debt consolidation help? I’m sure you’ve heard of it. Some businesses or organizations will pay all your debts for you and then you owe them one lump sum that you work out some kind of reasonable payment that you pay them once each month until it’s paid off. Or scrape some money together if you can and go to some kind of debt service who gives expert financial advice and they will try to help you with your finances.
I had to file at age 20 after my 2nd son. We got taken by the scam mortgages, we got in the year before the changes. 100k in debt, we gave up our house, we owned our 1992 van outright. It was a mess, but we were pregnant with #3 at that point, I wasn’t working, and insurance paid nothing on the birth of baby #2, so yeah, filed and said ■■■■ it
We were able to buy a house in 2014 after 9 years from filing, got better with money. I got SSDI and john works for DoC for 20 an hour. We still struggle, but only have like 10k in credit debt. Medical Bill’s are better cause I have Medicare and his state ins, which is better than the plans we had both working for Aurora Healthcare in early 2000’s.
They may make you liquidate. We didn’t have to, but like I said, we got in literally before the changes to law. Talk to a free consult lawyer to find out your options.
I had about $10,000 in debt and I looked into bankruptcy and or consolidation and it was at the time that I became disabled and the consolidation people told me it was better for your credit to go with the consolidation so I tried. When I couldn’t keep up the payments I asked the consolidation people for help filing bankruptcy and they said it was actually better for your credit to just not pay your debt and let it go to collections and sit on your credit report unpaid. It will eventually fall off and faster and do less damaged to your credit. But I didn’t have a house to protect so that may be a difference. I can tell you that I never paid much of that $10,000 and I have recovered my credit to a good credit rating in 7 years. I now have more debt which I am working to pay off every month which keeps my credit rating good.
Thanks @raelyn218 @Leaf @77nick77 I will keep this in mind. I’ll probably call in a lawyer and financial advisor next tax season.
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