40k in CC debt, considering Bankruptcy...Please help!!

[aussiesareforever]

You have gotten nothing but good advice Laura.

Most of us weren't thrilled to have to file BK but it definitely does give one a fresh start! As a poster said above, what is most important is having a good financial plan after filing. That plan should mostly center on how to live within one's means. Getting credit after BK is easy, but staying out of CC debt and being financially independent requires having a sound plan. There are lots of options out there, I personally use and recommend YNAB (you need a budget!)

Good luck. Life can definitely be better on the other side!

[Anonymous]

The stories I could tell you about my ex' could curl your hair: the funny thing about men like that is they tend to not screw up their own finances (at least mine didn't) but he had no problem using my "sock drawer emergency" cards, paying the minimums and hiding the bills. Now, I live alone but my financial papers are stored off-site and any credit stuff/bills go to a PO Box that only I can access.

I look at it this way: financial health (maintaining it and proactively protecting it) is a form of self care. In our society, it's one of the most important benchmarks of taking care of yourself. My example for my kids is that yes, some horrible stuff happened but this is what I did to ensure our safety and quality of life. Kids learn by what we do not what we say. Whether you file or not (find a good lawyer to advise you) truly, you will get beyond this. All is transitory, good and bad.

[Anonymous]

Thank you! This advice is definitely helping make my decision easier.

[Anonymous]

We were in a similar situation a couple of years ago. We always made our payments (minimums) but there was NO way that we would have been able to get out of debt if we hadn't filed for BK. Honestly if I could go back I wish we would have sat down with an attorney earlier. But we were so embarassed 

Our moment of truth was when we finally contacted a debt consolidation company... they came up for a plan for us and it was more than we could afford for a few months and it was a five year program. We also had a son who was close to college and we knew that there was no way we could afford those payments and help him get through school. Anyway we met with an attorney shortly after and found this board. It was NOT an easy decision but it was the right one for us.