I have debts that equal about $3000 or so when all said and done. I have an oppurtunity to move to AZ with the rest of my family. I cannot just up and leave my job without getting one already in AZ, and I cannot afford to travel to AZ just for an interview and risk not even getting the job. I have bad credit (560 or something), no money saved up (paycheck to paycheck), no relatives able to help me out, only make $10/hr, have a car that I owe more on than its worth (no one will buy it off me), and need to make a move soon.
What can I do? Bankruptcy has been suggested, but do I even have enough debt to be considered? I have no way of paying things off anytime soon, but I need to move. Any advice, opinions, whatever? I do not know anything except that bankruptcy stays on your cred report for 10 years, that I will lose my vehicle (which is fine if I can be able to purchase one once in AZ), and that it will wipe my credit clean except for the bankruptcy itself. Help???
2007-10-22 10:43:26 · 6 answers · asked by jukey_23 1 in Business & Finance ➔ Personal Finance
It will cost you as much as half that debt to file bankruptcy, does it sound worth it to you? If your family is an AZ can't you live with family until you get a job?
2007-10-22 10:49:18 · answer #1 · answered by Lesley 5 · 0⤊ 0⤋
I don't think that bankruptcy is a good idea, especially for $3000.00! Try looking at the site below for ideas on getting out of your situation. Maybe you can sell you car, buy a bus ticket and go back to AZ. Pay all the money you are able to on the car loan. Then get a job and keep paying off your debts. Then start working on cleaning up your credit so you can have a life.
http://www.daveramsey.com/
2007-10-22 10:57:49 · answer #2 · answered by Susan M 7 · 0⤊ 1⤋
You would be able to keep your auto IF you filed bankrupcy...but you shouldn't bother trying. A bankruptcy attorney is going to cost you almost $2000 and that cannot be included in the bankruptcy. Most require payment up front. You do not have enough debt to file...if you want to move, find someone to move in with that will let you live rent free until you can get back on your feet.
2007-10-22 12:52:46 · answer #3 · answered by Anonymous · 0⤊ 1⤋
Bankruptcy laws have become more strict in the past few years, because people should not be using it to avoid paying their bills. So the likelihood of your even being able to file is remote.
2007-10-22 10:52:21 · answer #4 · answered by Nefertiti 5 · 0⤊ 1⤋
It will not wipe your credit clean, and you may still owe the creditors, the laws changes a few years ago, you are going from the frying pan, into the fire
2007-10-22 10:50:14 · answer #5 · answered by Pengy 7 · 0⤊ 1⤋
You need to call Dave Ramsey! You can email also, go to his website at www.daveramsey.com DO NOT FILE BANKRUPTCY!!
2007-10-22 10:59:37 · answer #6 · answered by Scotty B 2 · 0⤊ 2⤋