Should I file chapter 7?
Hello,
I have alot of debt: two student loans, totaling $90,000+, tax debt, totalling $3000+, two credit cards totalling about $8,000, in addition to the usual household expenses: rent, food, clothing, etc. and I went from a contract mainframe programmer, making $30-$35 per hour to making from $10 to $12 per hour, a huge income decline. I have way too much expenses and debt, but I'm training for a new career field in the IT field as a unix system administrator. Now, should I file chapter 7 based on the above information? I want to get rid of a private student loan, both credit cards and that will give me some debt relief. I can't file bankruptcy against the federal student loan, but I can live with it, as it is consolidated for a 30 year payoff. Also, will filing affect my chances of getting into a new career field that I'm preparing for? I'm quite distressed and would appreciate some expert feedback. Thank you.
Feeling Distressed.
I have alot of debt: two student loans, totaling $90,000+, tax debt, totalling $3000+, two credit cards totalling about $8,000, in addition to the usual household expenses: rent, food, clothing, etc. and I went from a contract mainframe programmer, making $30-$35 per hour to making from $10 to $12 per hour, a huge income decline. I have way too much expenses and debt, but I'm training for a new career field in the IT field as a unix system administrator. Now, should I file chapter 7 based on the above information? I want to get rid of a private student loan, both credit cards and that will give me some debt relief. I can't file bankruptcy against the federal student loan, but I can live with it, as it is consolidated for a 30 year payoff. Also, will filing affect my chances of getting into a new career field that I'm preparing for? I'm quite distressed and would appreciate some expert feedback. Thank you.
Feeling Distressed.