i am a single mother and have been been on welfare/disability. Because i have a set income of 800 dollars a month I have gotten into over 20,000 dollars of debt on my credit cards just paying bills over the last 10 years. Now im maxed out and i cant pay the min anymore. I am unable to work due to my disability, so I am stuck with a set income which barely covers rent and utilities. Should I declare bankruptsy? im afraid if i call and debt helper, I still wont be able to pay the min. I got to a point where I was paying my min by taking cash out on my card. what should i do? dont tell me to cut up the card, its already been maxed and I cant use it. What will happen to me when the payments stop? Should I declare bankruptsy? can I?
2007-08-01 13:41:59 · 5 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
I suggest you work with the card company on fixed repayment plan with your $800 monthly income. Cut down on unnecessary spendings. Try finding a home-bound job that pays you not very much but would allow you to get by? Sitting down doing nothing about the debts is stressful. Filing for bankruptcy should be the last resort when all avenues have failed.
2007-08-01 13:46:58 · answer #1 · answered by SGElite 7 · 0⤊ 0⤋
Yes you can it will be ok Just do it go through legal aid if you can't afford an attorney and they will be able to direct you to someone that will be reasonable. Having all those bills is makeing your illness worst without you doing anything. After clearing up all that debt maybe you will be able to focus on healing or even going back to school to find a new career that will make you employable again.
2007-08-01 13:50:05 · answer #2 · answered by freckles48238 2 · 0⤊ 0⤋
Call and find out. in both canada and the states they have companies that give you financial advice for free. they will be able to guide you through the steps that you need to take. yes you still need money to declare bankruptsy but i think the money people can help you figure out how to get the debt collectors off your back. they can be nasty.
2007-08-01 13:46:18 · answer #3 · answered by Justme 4 · 0⤊ 0⤋
Liberals be responsive to as much as a container of rocks.. The Liberal ideology is a theory , fostered with the help of a delusional, illogical minority and which holds forth ideals that have not have been given any foundation fairly. the subject concerns we are dealing with right now are because of the fact the persons who artwork for a living are outnumbered with the help of people who vote for a living. @
2016-11-10 23:21:12 · answer #4 · answered by ? 4 · 0⤊ 0⤋
Bankrupcy is never a real good option, but sometimes there isn't much choice. I don't have any other good ideas to offer you.
Best of luck.
2007-08-01 13:49:07 · answer #5 · answered by Judy 7 · 0⤊ 0⤋