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Would you file for bankruptcy?

We are currently paying our bills. We live month to month. Dh has been at his job for 15 years and we have been struggling for just about that many years. It has taken its toll on him. He is on medication for depression and anxiety, the meds mess with him almost as bad as the job does. He is getting through, exsisting in his life, but he enjoys nothing.



He can not make the money he makes at another job, so just changing his job would put us in a position that we could not pay our bills. Would you

 
Anonymous

Asked by Anonymous at 5:53 PM on Aug. 20, 2010 in Money & Work

This question is closed.
Answers (23)
  • I filed in 2005. I regret nothing. I was able to keep my car as long as I made payments on it. My credit is gradually improving. It was something that needed to be done at the time. It's not the end of the world at all.
    Izsarejman

    Answer by Izsarejman at 6:00 PM on Aug. 20, 2010

  • Did you ever think about going to a budget counselor? Also do you work? Part time or full time?
    Have you looked into the negative and positive things about bankruptcy?
    bmwlover

    Answer by bmwlover at 5:55 PM on Aug. 20, 2010

  • my hubby filed before we got married! his ex wife maxed out all the credit cards and emptied the bank accounts and ran! left him with over $50,000 in debt. we would never be able to pay it off! now 2 years later we own our cars and are saving for a house he is off his depression meds and is finally happy again! i would do it if i were u! good luck!
    Caroline2010

    Answer by Caroline2010 at 6:11 PM on Aug. 20, 2010

  • no, bankruptcy ruins your credit for life---Not true


    I would talk to an attorney. A bankruptcy stays on your credit for at least 10 years, all of your debt bad and good only stays on your credit record for 7 years.


     

    matthewscandi

    Answer by matthewscandi at 6:14 PM on Aug. 20, 2010

  • Just my opinon but I think bankruptcy will add stress to your life. Have you tried a monthly budget? Are there expenses you could cut? One note: Bankruptcy won't solve your problems and in fact unless you are willing to change your spending habits or find a way to increase your income you will be right back to where you started in a few years only this time you'll have stress, bills, and a lousy credit rating. Good luck.
    Leener3

    Answer by Leener3 at 6:22 PM on Aug. 20, 2010

  • "no, bankruptcy ruins your credit for life and you still have to pay them back. "

    that's not true at all.. ONE it depends on what bankruptcy you are filing for if you have to pay them back or not...
    TWO, it doesn't ruin your credit for life.. you can clean it right back up in 10 years time
    xxhazeldovexx

    Answer by xxhazeldovexx at 2:36 AM on Aug. 21, 2010

  • Try daveramsey.com . You can sign up at mytotalmoneymakeover.com for a 7 day trial and post your budget in forum and they can help tweek it. It has your userid but no one knows who anyone is. You create any user id so you don't have to use name.
    partiesbyjan

    Answer by partiesbyjan at 8:40 AM on Aug. 21, 2010

  • Get your local phone book and call a bankrupcy lawyer...and tell him your situation they would give you the best advice
    in my case i filed about 8years ago..but i was young and didnt have any thing to lose like cars or house....as for my brother he filed twice and he works in a law firm!!! so they know how to get around the loops..hope that helped...GOOD LUCK!!!
    TezMoM

    Answer by TezMoM at 5:58 PM on Aug. 20, 2010

  • Have to pay them back? I have not heard of that. If you bankrupt the debt is no longer yours to pay.
    mom2queenie2004

    Answer by mom2queenie2004 at 6:04 PM on Aug. 20, 2010

  • Sometimes it is the proper course to take - there is not the stigma that there once was.
    tasches

    Answer by tasches at 6:14 PM on Aug. 20, 2010

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