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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 file so he could change jobs?

*We have learned our "lesson" *We budget well now *

 
Anonymous

Asked by Anonymous at 11:48 AM on Aug. 21, 2010 in Just for Fun

This question is closed.
Answers (5)
  • I filed a chapter 7 in 2005 and I did not lose anything I owned except my debt. I was able to keep my car as long as I made payments, nobody came in and took my belongings to liquidate my assets. I was able to get a credit card from Orchard Bank with a limit of $1,000 after a few months. I seldom use it though. My ex left me with a lot of debt and when I got separated from the military, I could not pay it back. I was not going to saddle my husband with it. His name was not on anything when I filed and he has good credit. Seriously, speak to a lawyer. It is not the be all end all of you. Once all is said and done, it's nothing. A minor blip in your life. You won't walk around with a scarlet "B" on your chests.
    Izsarejman

    Answer by Izsarejman at 12:44 PM on Aug. 21, 2010

  • Filing bankruptcy cause he is depressed isn't a good reason, you can loose alot of the things your have because of the bankruptcy and that would make him more depressed. I think that maybe he can work at the job he has and just find something new. Bankruptcy wont wipe your debt clean and it depends on which bankruptcy you quilfy for, there is a chapter 13 which you can keep your things but pay your debt back you don't pay as much, there is a chapter 7 which will wipe everything clean but you could loose the stuff your own.
    Anonymous

    Answer by Anonymous at 12:08 PM on Aug. 21, 2010

  • You could talk to an attorney about what your options are, bankruptcy is a big decision, it will affect you for a very long time.
    Scuba

    Answer by Scuba at 12:14 PM on Aug. 21, 2010

  • My husband and I went through a chapter 13 and glad we did because we were able to save our house and it is so much better for our family.
    tyme4me2day

    Answer by tyme4me2day at 12:19 PM on Aug. 21, 2010

  • I wouldn't look into it unless it was an absolute last resort. IMO making less money doesn't put you at that point yet. Do you work also? Have you cut out all of the extras from your budget? Have you guys talked to a credit counselor and/ or considered consolidation?
    Jessica157

    Answer by Jessica157 at 12:39 PM on Aug. 21, 2010

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