I posted about my situation with my AMEX gold card that is going to go 'Past Due' on an outstanding balance after midnight tonight (Dec 5).
It is going to get MUCH WORSE for me before it gets better. It is largely self inflicted and I took a bad situation (getting fired from a job after only 4 months) and made it 10 times worse. I don't want to deny responsibility but I was diagnosed with Bipolar II which was misdiagnosed as mild depression & anxiety by two previous psycs. The meds that I was on for over a year (Prozac, Adderall) precipitated manic behavior which included huge buying sprees.
I am working as a 1099 contractor (another issue which will probably raise red flags with the IRS), but won't get paid for November until around December 22. With Christmas and the minimum 5 business day hold my bank puts on ANY non local non gov't check, I won't have funds available until probably around New Years Day.
I think chapter 13 may be the only option. The problem is that I have some assets which I don't want to touch which includes a Brokerage account with a market value of around $75,000. Probably will wait until the summer after the 6 month 'lookback' period. I have a whopping credit card tab of over $70,000 spread on over 15 accounts, some of them retail charge accounts and others with interest rates that just jumped due to my debt load (ex. Chase = 29.99% on $2,100, WAMU/Providian = 31.99% on $4,800)
I doubt I will find real full time employment in my industry. It isn't anything to do with the economy but my employment history, lack of references & burned bridges that are going to be a major negative factor. I actually plan to mention my diagnosis of Bipolar / ADHD and how that is going to have a major detrimental effect of me finding real full time employment.
The good thing about this arrangement is that I can fully deduct COBRA payments, & traveling expenses + tolls to & from work so I plan to keep the entire check once it is cut.
I am returning things that I bought on my debit card that I still have receipts for since I have NO income coming in and haven't seen a paycheck since October. My bank account went negative a few times over the weekend after authorized Credit POS transactions. I expect about $100 of fees.
It is going to get MUCH WORSE for me before it gets better. It is largely self inflicted and I took a bad situation (getting fired from a job after only 4 months) and made it 10 times worse. I don't want to deny responsibility but I was diagnosed with Bipolar II which was misdiagnosed as mild depression & anxiety by two previous psycs. The meds that I was on for over a year (Prozac, Adderall) precipitated manic behavior which included huge buying sprees.
I am working as a 1099 contractor (another issue which will probably raise red flags with the IRS), but won't get paid for November until around December 22. With Christmas and the minimum 5 business day hold my bank puts on ANY non local non gov't check, I won't have funds available until probably around New Years Day.
I think chapter 13 may be the only option. The problem is that I have some assets which I don't want to touch which includes a Brokerage account with a market value of around $75,000. Probably will wait until the summer after the 6 month 'lookback' period. I have a whopping credit card tab of over $70,000 spread on over 15 accounts, some of them retail charge accounts and others with interest rates that just jumped due to my debt load (ex. Chase = 29.99% on $2,100, WAMU/Providian = 31.99% on $4,800)
I doubt I will find real full time employment in my industry. It isn't anything to do with the economy but my employment history, lack of references & burned bridges that are going to be a major negative factor. I actually plan to mention my diagnosis of Bipolar / ADHD and how that is going to have a major detrimental effect of me finding real full time employment.
The good thing about this arrangement is that I can fully deduct COBRA payments, & traveling expenses + tolls to & from work so I plan to keep the entire check once it is cut.
I am returning things that I bought on my debit card that I still have receipts for since I have NO income coming in and haven't seen a paycheck since October. My bank account went negative a few times over the weekend after authorized Credit POS transactions. I expect about $100 of fees.
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