BK7, yes or no?

[Anonymous]

Hello,

I would like your opinions on whether I should file BK7 with about 65k in student loans, 40k in unsecured debt, and a 20k car note. I understand the student loans are not discharable. I get $2,800 a month from the VA, and currently about $1,200 in unemployment. I barely pass the means test, and getting a full time job would likely put me over the median income for my state (average for past 6 months). I'm a compulsive gambler and the high credit card debt gives me the urge to gamble. I paid down a $5,000 credit card, had a relapse, and was able to get a CLI to $13,000 due to my 718 FICO score. It probably goes without saying that the card is now maxed. I'm seeking professional help, but know the debt plays a large factor in my recovery. Any help would be greatly appreciated!

[Anonymous]

Anyone? Anyone? 

[StartingOver10]

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@Anonymous wrote:
Hello,

I would like your opinions on whether I should file BK7 with about 65k in student loans, 40k in unsecured debt, and a 20k car note. I understand the student loans are not discharable. I get $2,800 a month from the VA, and currently about $1,200 in unemployment. I barely pass the means test, and getting a full time job would likely put me over the median income for my state (average for past 6 months). I'm a compulsive gambler and the high credit card debt gives me the urge to gamble. I paid down a $5,000 credit card, had a relapse, and was able to get a CLI to $13,000 due to my 718 FICO score. It probably goes without saying that the card is now maxed. I'm seeking professional help, but know the debt plays a large factor in my recovery. Any help would be greatly appreciated!

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This is my opinion only:  without taking care of the gambling addiction first and getting a job, you are setting yourself up for a Bk that will only help temporarily.

A good Bk attorney can work within the Bk guidelines - and yet you can still file Ch 7 if you are over the median income. Interview several Bk attorney's. But don't file until you have income enough rebuild afterward. Stay away from the large, mill type Bk attorney's - they love to push you into 13s.  There is nothing wrong with a Ch 13, but you want to be able to stick it out and get a discharge, not a dismissal.