Help with choosing to file

[Anonymous]

Hi Everyone,

I joined this forum in 2017 and posted then about my severe financial troubles.  My credit score is now in the gutter (535) accross all three credit reports and I am starting to think bankruptcy is my only option.

My current income is $63,000 a year and I work in financial services (part of why I have been avoiding bankruptcy).  My total unsecured debt is over $88,000 and as much as I want to not file bankruptcy I am fearfull that I will forever have bad credit by not filing BK.  Any help would be greatly appreciated. 

I attached a spreadsheet of my current unsecured debts (total 88k). As a note, I was sued for Discover and retained an attorney who was able to "win" the lawsuit and I am not longer liable for discover.

Credit First 216-362-5000 PO Box 81315-Cleveland, OH $1,130.00 Charge-Off
One Main Financial 844-298-9773 PO Box 1010 - Evansville, IN $3,455.00 Charge-Off
Verizon Wireless National Recovery Operations 800-852-1922 $1,126.00 Charge-Off
Macys DSNB PO Box 8218-Mason, OH $476.00 Charge-Off
PenFed 703-838-1000 1001 N. Fairfax - Alexandria, VA $3,387.00 Charge-Off
Capital One Bank USA 1800-955-7070 PO Box 30281 - Salt Lake City, UT $4,333.00 Charge-Off
Chase PO Box 15369 - Wilmington DE $1,397.00 Charge-Off
Chase PO Box 15369 - Wilmington DE $3,097.00 Charge-Off
NASA FCU 301-249-1800 $10,646.00 Charge-Off
Capital One Bank USA PO Box 30281 - Salt Lake City, UT $1,994.00 Charge-Off
Discover Bank 1800-347-2683 POB 15316 - Wilmington DE $2,215.00 Charge-Off
Chase PO Box 15369 - Wilmington DE $1,629.00 Charge-Off
Medical $1,245.00 Collection
Citibank Cavalry Portfolio Services $4,239.00 Collection
Sprint Virtuoso Src $1,417.00 Collection
Nationwide Insurance Credit Coll $319.00 Collection
Medical $624.00 Collection
On Time Transport Inc. $52.00 Collection
Acura Financial Services $25,000.00 Lease Balance, Mileage over, excess wear and tear
Navy Federal Credit Union Consolidation Loan $21,033.33 PAID ON TIME
Total Unsecured Outstanding $88,814.33

[FireMedic1]

Well I'll put it like I usually do for everyone.I will never say yes go file BK. I just lay it out. In the time it would take to pay all that off. If no one sues you for the charge offs/collections before that. You could have a fresh start and be better off in the same time period. The consolodation loan didnt do much of a dent. But I think you know the answer. Wipe the slate clean. Learn from your mistakes and dont repeat it in the future. Best of luck but you know where me personally is headed. Good Luck!

[Anonymous]

Thank you for your advice.  I think I know the answer too.  Can you advise the process, how would I know if Chapter 7 or 13 is a better fit? I suppose the attorney will advise? Thank you in advance 

[Anonymous]

It would be worth it to file just to stop the harassing phone calls that I'm sure you're receiving.  

[FireMedic1]

Look for a board certified BK Lawyer and they will do the calculations and inform you of which chapter you'd qualify for. There's a lot that goes into it. Sorry it has to go this way. But like I said to the last poster. As a med professional for 35 yrs. The stress from debt isnt good for the body or your well being. I look at things a bit differently. You'd be free and a load off your back.