New Member
Posts: 1
Registered: ‎02-24-2009
Re: Bankruptcy FAQs

What about Home Equity Loans?  Thanks to Credit Cards increasing there % rates, we are in big trouble.


We have been able to pay everyone :  Home Mortage, Home Equity, Car,  basic bills, both credit cards,  but we have $85.00 left a month for groceries.

We have a family of 3.   We are down to one income, I am 38 recently diagnosed with a heart condition that will allow me only to work part time, I have a 3 yr old, so Day care would cost more than I could make. 

We have no savings left!  13,000.00 on one card, 7000.00 on another. 


We dont know if we should file, or keep struggling, my husband wants to keep going if we can..But if one thing breaks we are screwed.  Me myself Im ready to suck up the pride.

He is afraid he will not be able to get a job in the future due to bad credit checks done by employers. His will be taking a job within the same company in 3 years once a person has retired. But its a different department, so they could possible have him fill out all new application and check everything.


If we do file, Will we risk our home due to we have a home loan & home equity loan maxed for the whole value of the home?  We had just adopted internationally (wich maxed home Equity)  then everything went south.

Believe it or not, so far I have cooked & planed the cheapest meals and we are ok. We make 42,000.00 a year so no help with stamps or assistance...

 File or not?  Does anyone know about the Home Equity & wich one they would make us file 7 or 13.. Any info would be great.....