I am way over my head in credit card debt, like $24K. Is there hope for me for bankruptcy (see details)?

Question

Because of medication that I'm required to take and have been on since 1999, since I have no medical insurance, I've had to continually throw the costs of meds on credit cards. I'm making more money now than a month ago in my last job, but I'm still only able to make the minimum payments.

I don't buy useless stuff, just what I need, not want, NEED. My dad is hinting at me to get a place of my own becuz his witch of a wife is putting him up to it. If I didn't have all this debt, maybe, just maybe, I could afford a studio apartment. I know the bankruptcy laws have changed since like 5 years ago or whatever or even less than that, and I know they make it a lot harder for you to get rid of your debt. I don't know what to do. I've contacted non-profit credit card organizations and they just tell me I need to find a job that makes more money. Well, that's really easy for them to say, especially when I don't have a college degree. Do I have a chance?

Answer 1

i had to declare the b word last year lol
i had almsot $50k in debts.
i would recommend calling and meeting with a lawyer to get abrest of the new laws and rules.
for me i got rid of all my debt. i was left with 2 mortgages and a secured loan to repay. the sticker is i can't get a loan for 2 years so if i wanted to sell my house within 2 years of filing i wouldn't be able to get a loan for a new house.

the non profit companies suck- i had a lady say to me- can't you just work more over time- yeah me working 48 hours a week's not enough to kill me already right?

be carefull of where you try to rent. your credit score and bankruptcy can effect you getting approved for that too

Answer 2

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RE I am way over my head in credit card debt, like $24K. Is there hope for me for bankruptcy (see details)?

Because of medication that I'm required to take and have been on since 1999, since I have no medical insurance, I've had to continually throw the costs of meds on credit cards. I'm making more money now than a month ago in my last job, but I'm still only able to make the minimum payments.

I don't buy useless stuff, just what I need, not want, NEED. My dad is hinting at me to get a place of my own becuz his witch of a wife is putting him up to it. If I didn't have all this debt, maybe, just maybe, I could afford a studio apartment. I know the bankruptcy laws have changed since like 5 years ago or whatever or even less than that, and I know they make it a lot harder for you to get rid of your debt. I don't know what to do. I've contacted non-profit credit card organizations and they just tell me I need to find a job that makes more money. Well, that's really easy for them to say, especially when I don't have a college degree. Do I have a chance?

Answer 3

You need to find a job that not only gives you better pay, but better benefits so you can get at least part of your medication covered by insurance. There are decent jobs out there that do not require a college degree.

Contact the National Foundation for Credit Counseling and see what they can do for you:

[phone]
www.nfcc.org
Also known as Consumer Credit Counseling Service (CCCS)
Based on your area code, your phone call will automatically be plugged into the NFCC office nearest you.

I would exhaust all possibilities before claiming bankruptcy. That is a move that will hurt you for a long time.

Realize that you have to change the way you are managing your money or else you will continually be in the same situation you are in.

Answer 4

If you're really worried about paying all these bills, you need to find a second job. There's no excuses for you not to work two jobs. One can be full-time and one can be part-time. The full-time job should at least provide you with medical benefits. If it doesn't, you can buy a medical plan from Blue Cross. Bankrupcy should be the last thing on your mind. However, since your mind it set on it, there's nothing we can say that would make you work harder. Why waste everyone's time on answering your question when you already have the answer? You might not be able to rent an apartment if you file for bankrupcy, because leasing offices check your credit history before they rent you the apartment.

Answer 5

You might talk with dad & see if he could give you some time to fix your credit situation. Bankruptcy should only be used as a last resort. Call the counseling service above. If you need a quick loan check out http://www.prosper.com.

Answer 6

You should contact a local bankruptcy attorney to look at your case. This is not a do it yourself project. You probably are a good candidate but you need to determine if things would change after bankruptcy or would you be right back in the soup.

Answer 7

Well you had my sympathy till you got to the "witch of a wife" part.

You are living in your father's home, probably at little or no cost. His wife has to put up with you, probably feed you, clean up after you, and I bet she does your laundry too.

You have a job and still manage to run up $24K of credit card debt -- I don't care that it was medical. There are all sorts of organizations that could assist you, including your employer provided health insurance might cover pre-existing conditions as far as prescriptions after a year or two. At any rate, what else were you doing with your money? Is there a car? Fancy computer? Game stuff?

There are lots and lots of people making very good money that do not have college degrees. In fact, I know of at least 5 people who don't have degrees that are making a whole lot more than my sister-in-law with her masters.

So here's the blunt facts of life. Turn off the computer and the PlayStation. Get off your *** and go get a better paying job. Get two so you can pay off that debt faster and move out and give your poor stepmother some peace and quiet.

Answer 8

i think of that's many times greater advantageous to no longer do financial ruin, which will harm your credit record worse than mere fee-offs and collections will. yet of direction it relies upon on a brilliant form of factors. you additionally can evaluate credit counseling. Your lenders can take you to courtroom and sue you to get a judgment. The judgment ought to bring about garnishment of wages or a lien on your place, or get admission to to your checking account. be conscious that those ideas are quite constrained -- financial ruin is mostly a ability to guard your factors from lenders -- many times no longer mandatory for unsecured debt. be conscious that your situation with credit playing cards is a lot distinctive than the guy above who had scientific costs. distinctive regulations prepare. I very lots doubt something as draconian might take place to you. and you don't get arrested for no longer showing up in courtroom. you purely lose default judgment. lots greater in all probability, they'll on no account take the step of suing -- that takes time, funds and attempt. yet no ensures. Your state has a statute of obstacles, and then lenders can't effectively sue you (varies, many times approximately 3 - 6 years). you're able to learn that, and what triggers the "clock" and what if something can restart the clock on your state. some human beings purely wait it out til SOL expires, then take action to clean up their credit comments.

Answer 9

Time for you to move out... Stop charging and make the minimum payments... Your credit is good as long as you make the minimum payment...
Go see the Army recruiter -- Make Dad proud and you Smom will be happy your out of the house...

Answer 10

I was reading the book Gangs by Tony Thompson and I was stunned at how much money even petty criminals make. The underworld can solve your problems in a month, so be positive :)