BK or ? Advice

[Anonymous]

Hi all!

Long time lurker and finally decided to post.

Anywise I'm currently in the process of talking to an attorney to file Chapter 7. As a 1099 late last year my contract didn't renew which was unexpectedly left me jobless and being unemployed I had to depleat my savings and use my CC to live until I finally got a job in another state so we moved but my fiancee had to quit her job in the process. So while my new job pays well it's not enough to cover the bills anymore and she hasn't found a decent paying job yet. So I'm about to start being behind on payments.

My question is what's easier to bounce back from?

I was thinking of not paying one of my loans that's killing me and use that to pay down the rest of the cc debt. So how long usually before I get sent to collections and or anything worse.

or just file the chapter 7 and be done with it?

Scores:

EQ: 587

TU: 599

EX: 592

Debt:

Chase Slate: 1700

Chase Freedom ~14k

Chase Amazon: ~3k 

Cap 1: ~4k

Amex: ~15k

Personal Loan: ~20k

Peronal Loan 2: ~12k

Car: ~29k

[Anonymous]

Honestly. I wish I would have filed a long time ago. Once you pay the lawyer he will advise you to stop paying everything and give you his number to give to your collection calls or any debt collectors. Get a free consult with a bankruptcy attorney. Go from therthere.

[Anonymous]

One thing to remember is that a BK will stay on your credit report for either 7 (Ch13) or 10 (Ch7) years. That can be an anchor for some people. Talk with a compentent attorney. Get the pros and cons. If he/she doesn't give you any cons to filing, then go find another attorney. If all they want to do is file, then they aren't looking at your best interest. You need to find an attorney that will help you see both sides.

Good luck with your decision.

[Anonymous]

Thanks all! I spoke to the attorney and decided to just file chapter 7 and start fresh.