Any Advice Is Greatly Appreciated [Archive]

KeizerSoze

07-13-2005, 08:45 PM

hello there. thank you all for taking time to read this post.

my financial situation took a turn for the worse five years ago with the unexpected birth of my second child. my job pays a decent wage, however child support is really taking a large chunk (half) out of every bi-weekly check i receive. after taxes, and health insurance, and every other deduction, plus rent and utilities, i'm left with nothing. i began to slip deeper and deeper into debt and now it seems like i'm trapped.

currently my debt is approximately $16K+. my biggest mistake came when i decided to drive after neglecting to pay my car insurance. a few weeks after making that ingenious decision, i was hit by a drunk driver and my car was totaled. i still owe about $12K on the vehicle and haven't made a payment in over a year.

my current debt consists of a vehicle i still owe on, outstanding medical bills, and back taxes. i'm not sure if this helps, i currently reside in Michigan.

i would like to know what it is i should do to resolve this matter. i've contimplated bankruptcy, however i'm 30 yrs old and have no idea how that's going to affect the rest of my life. i currently have no assests.

obviously this isn't a pretty situation, and i've should've acted earlier, however i would really like to resolve this as quick as possible. the psyhcological impact of this matter has become unbearable. i want to get on the ball and resolve this.

can anyone please point me in the right direction?!!

thank you very much!

Keizer

copper2

07-14-2005, 12:04 AM

Hi, I read your post and empathize with your situation. This being a BK Forum, most of us are at your place, or are recovering from BK. If it were me, I'd wrap my medical bills, car loan and credit debt into a BK. Get that behind you. Then I would focus on back taxes, which are not dischargeable. I am not a proponent of BK, but am in a similar hopeless place and have worked hard for two years trying to avoid it - getting nowhere but losing my sparkle and vitality! Life happens, and we have to learn what worked and what did not, in the rearview mirror. Good luck to you.



	Bankruptcy Forum > Before the Discharge > Collections > Any Advice Is Greatly Appreciated PDA Any Advice Is Greatly Appreciated KeizerSoze 07-13-2005, 08:45 PM hello there. thank you all for taking time to read this post. my financial situation took a turn for the worse five years ago with the unexpected birth of my second child. my job pays a decent wage, however child support is really taking a large chunk (half) out of every bi-weekly check i receive. after taxes, and health insurance, and every other deduction, plus rent and utilities, i'm left with nothing. i began to slip deeper and deeper into debt and now it seems like i'm trapped. currently my debt is approximately $16K+. my biggest mistake came when i decided to drive after neglecting to pay my car insurance. a few weeks after making that ingenious decision, i was hit by a drunk driver and my car was totaled. i still owe about $12K on the vehicle and haven't made a payment in over a year. my current debt consists of a vehicle i still owe on, outstanding medical bills, and back taxes. i'm not sure if this helps, i currently reside in Michigan. i would like to know what it is i should do to resolve this matter. i've contimplated bankruptcy, however i'm 30 yrs old and have no idea how that's going to affect the rest of my life. i currently have no assests. obviously this isn't a pretty situation, and i've should've acted earlier, however i would really like to resolve this as quick as possible. the psyhcological impact of this matter has become unbearable. i want to get on the ball and resolve this. can anyone please point me in the right direction?!! thank you very much! Keizer copper2 07-14-2005, 12:04 AM Hi, I read your post and empathize with your situation. This being a BK Forum, most of us are at your place, or are recovering from BK. If it were me, I'd wrap my medical bills, car loan and credit debt into a BK. Get that behind you. Then I would focus on back taxes, which are not dischargeable. I am not a proponent of BK, but am in a similar hopeless place and have worked hard for two years trying to avoid it - getting nowhere but losing my sparkle and vitality! Life happens, and we have to learn what worked and what did not, in the rearview mirror. Good luck to you.