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$8500 in debt

I have about $85oo in debt do a fowmer boyfriend from years ago. Since all these bills are in my name I am still respponsible for them(although I didn't have anything to do it) I was young(18) and so so so stupid, I made him an aurtherized user on about 6 of my credit cards. He bought things then sold them for cash behind my back. He also took money to pay other bills but never paid them. He intercepted the mail and said he was paying the bills(I worked all the time, he stayed home with our son) After we split I found out about all that he had really been doing. I paid a lot of stuff off, over $5,000 but I feel like I'll never be finished with it! Do you think $8500 is enough to file for bankrupcy?

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Asked by Anonymous at 12:11 PM on Jan. 14, 2010 in Money & Work

Answers (15)
  • NOPE!

    Answer by Anonymous at 12:15 PM on Jan. 14, 2010

  • same thing happened to me, thats enough to file for and i think you should. cost me 500 but was well worth not having that headache.....also, i found a lawyer that was willing to take payments, made it really easy.

    Answer by cakright at 12:15 PM on Jan. 14, 2010

  • Nah, that's not much really. They'll work out a payment plan with you.

    Answer by GoodMomma24-7 at 12:18 PM on Jan. 14, 2010

  • OP here: 2 of the creditors won't do a payment plan, tried that...they want all the money and I just can't pay it. 1 is suing me now for $2200, so I have to decide what to do within the next few days. I'm in no position to be making any payments, lost my job almost a year ago and my saving is about gone to.

    Answer by Anonymous at 12:22 PM on Jan. 14, 2010

  • Noo don't do have worked this long and hard bankruptcy stays on your record up to 10 yrs. I would be happy to talk to you and help you... Its not as bad as you think..message me we can talk

    Answer by Happymom2-2 at 12:22 PM on Jan. 14, 2010

  • You may be able to take him to court if you have proof of what he did. If is worth a try.

    Since you have a child together I hope you are getting child support. If not, file for support and back support to when the baby was born or when you stopped living together.

    If you don't want to buy a house or a car with a loan, having filed bankrupsy probably won't do anything to you. I had to do it for medical bills about 15 years ago. I never had problems with getting an apartment. You could have problems with some jobs. For some reason it is still on my record even though it was so long ago. I've never bothered with trying to get it off because I acturlly have a great credit score.

    Answer by Gailll at 12:33 PM on Jan. 14, 2010

  • I just declared chapter 7 for $25K in debt. If you feel that you will NEVER be in this position again, then go ahead and file. It will be nice to have a fresh start, and bankruptcy doesnt' carry nearly the stigma that it used to. If you don't want to buy a house in the next 10 years, you'll be fine. And not having to worry about this means you can save for things like a down payment on a car or a home. Good luck.

    Answer by Anonymous at 12:34 PM on Jan. 14, 2010

  • No! Why in the world would you file bankruptcy over such a small amount?? It's totally not worth it!

    Answer by Anonymous at 12:35 PM on Jan. 14, 2010

  • JMO but I would file. You don't have the money to pay them and when they go to judgement and you have a new job they can and will garnish your wages up to 50%.
    I am amazed by some of the uneducated answers you have received. Bankruptcy is not going to hold you back from purchasing a home or a car for 10 years. Most mortgage companies will give you financing after 2 years. If you have an unpaid judgement you have more problems than you do with a BK.

    Answer by Anonymous at 1:34 PM on Jan. 14, 2010

  • We had a bankruptcy and bought a house after four years and guess what our interest rate (I shit you not) is 5.75%!!!!! We worked hard to get our credit back.

    Answer by Anonymous at 2:38 PM on Jan. 14, 2010

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