My husband is the Active Duty Army-man and, for now, I'm the stay-at-home mom. We're currently stationed overseas. We've been struggling for the past three years to get rid of bad debt and credit issues since 2012.. Our SOL(Statute of Limits) has run out to get things removed from our credit for fraudulent and incorrect reporting/practices by collectors and lenders. We've done/tried everything from letter writing to calling all hours of the day and night to lawyers and nothing seems to be working! Sadly, we've come to our last resort, filing bankruptcy at ages 23 & 25. We've come a LONG way (50,000.00 in debt) to now (20,000 in debt) . I've JUST found out I'm being sued for $8,000 for a vehicle accident in 2009. We have NOTHING in a savings account, not even a couple pennies, and we literally survive paycheck to paycheck averaging(for a family of three) 200.00/month after all the bills are paid. Our 3yr old is only getting bigger, brighter and older!!
1) As an A.D. military family, what are our options to filing bankruptcy?
2) What are the pro's and con's to filing while in the military? (I've been told some pretty disturbing things, like the army keeping all our money to pay off the *listed* accounts in bankruptcy and then only providing what they think is enough for us to live on. Or we're not eligible to file anymore because of our military current military service.... Just as an example)
I'm a smart young woman, but not smart enough to know the ins and outs of filing bankruptcy while in the military... If it's even an options to us any more because of military service! We're still newbies to the military so we're still learning our way around. SOMEONE PLEASE HELP!!!!