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Im going to butt in...
You need to at least talk to a BK attourney .... And putting it off is not gonna make it any better...
It sounds like your attempting a DMP (Debt Management Plan)... Is it realistic? How long to supposedly get you out of this mess.. Remember most of your payment on these goes to fees first then the actual debt...
Heres the thing...
Suck it up, swallow your pride, and really need someone else to see the numbers.... Because the thing is, getting worse off by waiting, and also by waiting, your also postponing the recovery as well.....
You may also want to discuss your DMP on here as well....
Good luck
-J
Don't really appreciate the tone. You aren't a financial advisor, nor are you a bankruptcy attorney yourself.
My reservations have nothing to do with pride. If it were pride that were an issue, I wouldn't be transparent about my financial health on here, or discussing it with friends and family. BK is a financial undertaking and commitment that I don't think I'm ready for. And, that's why I've been hesitant to commit. Greenpath plan was suggested by my Credit Union, which IS a financial institution. And, I have already considered the financial undertaking it would be. However, my interest was piqued by the honest effort I'd be making to make good on my debts owed.
Bankruptcy is a viable solution for some, and an excellent option that I'm glad exists. I know it's helped a ton of people in crisis. That does not necessarily mean that it's something I HAVE to pursue, even based on where I'm presently at with my credit and finances. So, again, nothing to do with pride. I've been taking the past few months to weigh my options, research, discuss, and determine what the next step is. I'll update if I have chosen to go this way.
I was self-employed when this happend. My present attorney, regrettably, for the accident was probably a poor decision on my part, because as it stands it's been 2 years and nothing has really come of it. I actually have a consultation coming up with them in the next week. But, I think it would be a good idea to explore other legal advice/options.
Thank you for the contribution!
@Anonymous wrote:Don't really appreciate the tone. You aren't a financial advisor, nor are you a bankruptcy attorney yourself.
My reservations have nothing to do with pride. If it were pride that were an issue, I wouldn't be transparent about my financial health on here, or discussing it with friends and family. BK is a financial undertaking and commitment that I don't think I'm ready for. And, that's why I've been hesitant to commit. Greenpath plan was suggested by my Credit Union, which IS a financial institution. And, I have already considered the financial undertaking it would be. However, my interest was piqued by the honest effort I'd be making to make good on my debts owed.
Bankruptcy is a viable solution for some, and an excellent option that I'm glad exists. I know it's helped a ton of people in crisis. That does not necessarily mean that it's something I HAVE to pursue, even based on where I'm presently at with my credit and finances. So, again, nothing to do with pride. I've been taking the past few months to weigh my options, research, discuss, and determine what the next step is. I'll update if I have chosen to go this way.
I dont' think you should read too much into jolt's reply as being rude or antagonistic- the hard thing with reading responses in print is that you cannot hear the tone of thevoice, so it is up to your own interpretation. Im sure he was only assuming it was pride, as it is with a lot of people, but I don't think he was talking down to you from what I read.
I am puzzled by your comment though, about BK being a financial undertaking & commitment. Certainly if you were going to do CH13 it would be, but CH7 is relatively painless. Again, that is why I, and others on here, urge you to speak with a competent BK attorney that can answer any & all concerns you may have regarding what your best course of option should be. GL!
Thank you for the reply. Even though tone is hard to read over written format, it did seem a bit condescending, and I felt attacked for not just jumping into that kind of a decision.
I think you're right. I think a lot of my reservation comes from not being very educated on everything that encompasses deciding to go into bankruptcy. As you're mentiong CH13 and CH7, I admittedly don't even know the difference between those! So, I think a consultation wouldn't hurt, just to understand what I'd be getting into.
Thank you, again.
In all honesty, I'm worried how much harder things like securing an apartment and getting an auto loan once I've decided to go the route of bankruptcy. I know I'm not gonna look great to anyone right now. But, after BK, will I be approved for anything? Will apartment shopping become impossible? A BK lasts on a report for 7 years, correct?
@Anonymous wrote:In all honesty, I'm worried how much harder things like securing an apartment and getting an auto loan once I've decided to go the route of bankruptcy. I know I'm not gonna look great to anyone right now. But, after BK, will I be approved for anything? Will apartment shopping become impossible? A BK lasts on a report for 7 years, correct?
In all honesty your credit will recover quicker & you will be approved for more things than if you try to tackle the debt alone with all the negatives still on your reports. Go to a lawyer. Ask questions. Then decide what is best in the long run. GL!
CH-13 remains for 7 years, CH-7 10 years. There are income limits to doing a CH-7 a BK atty is going to know what they are for the area you live in as I do believe they are based on median incomes for the area and they are different all over the country.