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Need advice of bankruptcy-- running quickly out of $$, not sure what to do! :(

Posted by on Apr. 13, 2011 at 12:30 PM
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Hi Everybody,

I am in dyer need of some major advice on my financial situation. My husband and I have a 3 year old son. When we were trying for him our life was good! We had excellent credit, was bringing in a great amount of money to support ourselves and our son. Well like everyone else my husband was laid off from his job and we have been on a slow decline since. He was on unemployment for about 2 years. He recently got a job in November 2010 working a job thats only paying him 9.85/hour... needless to say, it's really not cutting it. He was claiming his money and still collecting unemployment (they were supplementing what we aren't making) Well yesterday he went to certify and they told him that his benefits were exhausted. Thats a significant amount of money that we wont have a month. For my self, I was working for the same company in the office and my hours have drastically been cut, I too, was on unemployment and still receiving benefits but they will expire in May 2011. I wasn't getting alot but every penny was really helping. With the loss of all this income it really puts us in a complete bind. We are about $13,000 in credit card debt that we racked up just to live after we were both laid off. We are researching bankruptcy, I know it's terrible for our credit but we are truly running out of options. Has anyone ever filed for bankruptcy? I know there's different chapters where I would be able to keep my house .... Any information or advice that anyone has would be extremely helpful!! Thank you!!!!!!!!!!

~Michelle~

by on Apr. 13, 2011 at 12:30 PM
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