Soooooooo after advice on this forum I sat , Iv'e decided to go ahead and file Chapter 7 in November! After reading here over the last week and then consulting with a lawyer yesterday. We spoke for about an hour, he was very knowledgeable and I explained to him that I read ALOT of these forums. He advised that was my best option making 38k with 73k+ in debt, and reassured me theres life after bankruptcy. He instructed me on some of the normal things lots of members are told (stop paying debt and save, catch up on necessities and still purchase my usual essentials). I told him I have conflicted myself with questions like "do I pay my car insurance or get groceries?" or "Will I have enough money to get gas for work?" just based on trying to stay current, having a prior garnishment to make up for as well.
I plan to use this post for updates on my Chp 7 journey, so far the plan is to:
- Saving $2,050 ; Includes Court Cost, retainer and fee for both credit counceling courses.
-Catch up car payment Cap 1 Auto ($770) and retain and pay when I file (Car worth $10,000-$11,000/ Balance in 11/19 should be @ $13,065 with high interest) I think I will keep my car for 6 months to a year and refi with credit union OR get something with better rate and let Cap 1 take it later ......since I am not reaffirming per lawyers advice.
-Have to file my 2018 taxes (after oweing for prior years I haven't worried much about filing)
- June-November Paystubs
- June- November Bank Statements
- Switch back to Centris FCU (No other debts with them so no cross collateralization worries)
-Pay back $200 to my brother (Lawyer Ok'd since not over $600) Done. Updated 09/09/19
Other than the above I have stopped paying my 4 active cards and will probably close them now. Then just focus on saving, not gonna worry about my rebuild yet but there's some that I have my eyes on when the time is right.
I'll keep you guys posted & thanks for being so helpful and supportive !
Hey! I'm in the same boat as you... I met with my lawyer and I plan to save up $1950 and file in December. Im going to focus on saving and just paying for my necessities. I stoped using and paying the cards as my lawyer suggested and just use that money to save up. I changed bank accounts and currently using chase and ally online account. I'm buring boa , navy fed, citi, discover, security service.. about 70k in credit card debt and i make 52k. I do live in Texas and own my home and my car is paid for.. Im doing this for me and I don't feel bad for the cc companies. They prey on people. Cheers to new beginings!
Im burning Cap 1, US Bank, FNBO, NFCU, Comenity and local FCU from an old car. But I've done all I could. You make a good point that my lawyer also made, these companies file BK all the time and no one bats an eye. It's a constitutional right to have this relief. Im in Nebraska no looking to buy a home just yet I know it will be possible later !
Yes Cheers my friend best of luck to you ! Ill keep this post updated as I go !
My lawyer was telling me he can recommend a few cheaper lawyers with lower retainers but he made me totally comfortable. I don't mind paying a bit extra I guess in this case lol beats paying $73k+ . Did you do your MOC yet ? Im so anxious to file and get it over with lol gonna save as much as I can and get er done !
Good luck to you !
Ohhhh yea, im in Omaha so trying to find a good credit union to switch to and then just saving to file. The anticipation is killing me lol Sticking to my budget ill be filing in mid November. I just keep thinking .......... it might be snowing by then lol driving to court house downtown ........in the snow ............ not ready for it lol