Hi, Im new and had some questions. here is my story:
Im 25, Graduated College in 2002 with 1500 in student loans. Got Married in October 2004, right before the wedding i lost my job, it only paid a little above ,min. wage and my husband also made just over it, i activated a credit card i had signed up for in college because i needed contacts and we have no med. insurance. This was the first credit card i ever used, they kept incresing my limit, and we charged things for the wedding and groceries because unemployment only paid me 100/week. By the time i found a job (only Part time) The bills got up to 13,000 so i got another card with no apr for a year and transferred 2500 of the other bill to it, then my dog got sick and we spent the remaining 500 on vet bills so it was maxed out. We had a walmart store card for emergencies and had to max it out. Even with all of this I paid all my bills on time at least a little more than minimum, and my credit score was 727.
Last month American Ex suddenly dropped our limit to what we had already spent, it was then we realized that even though we were paying our bills we were putting 400-500 on the card every month for food, cigs, car repairs, pretty much everything but bills. I freaked out and called a BK Lawyer and we met with him the next day. He said we shouldnt have a problem filing, to quit paying the bills if we were really gonna file and gave me paperwork to file out, i did this but then when i researched some more i wasnt sure if i wanted to do it. I heard that we wouldnt be able to get a new aptartment or rent, our utilities would go up, our insurance would go up, exc. Other people told me it really helped so im confused.
Now I work for a temp service and the place i had been working doesnt need temp help anymore so im in job limbo again. Do to this im thinkihng of filing again, the October date is getting close, and now im a month behind. I think were judgement proof (MAke around 1400/month, rent, no savings or assets) anfd i heard that if your judgemnent proof then filing makes no sense.
Im wondering if not paying the bills will effect my credit as much as BK, they wont neg. with me and i dont now what to do.
sorry this was so long, please help!
Im 25, Graduated College in 2002 with 1500 in student loans. Got Married in October 2004, right before the wedding i lost my job, it only paid a little above ,min. wage and my husband also made just over it, i activated a credit card i had signed up for in college because i needed contacts and we have no med. insurance. This was the first credit card i ever used, they kept incresing my limit, and we charged things for the wedding and groceries because unemployment only paid me 100/week. By the time i found a job (only Part time) The bills got up to 13,000 so i got another card with no apr for a year and transferred 2500 of the other bill to it, then my dog got sick and we spent the remaining 500 on vet bills so it was maxed out. We had a walmart store card for emergencies and had to max it out. Even with all of this I paid all my bills on time at least a little more than minimum, and my credit score was 727.
Last month American Ex suddenly dropped our limit to what we had already spent, it was then we realized that even though we were paying our bills we were putting 400-500 on the card every month for food, cigs, car repairs, pretty much everything but bills. I freaked out and called a BK Lawyer and we met with him the next day. He said we shouldnt have a problem filing, to quit paying the bills if we were really gonna file and gave me paperwork to file out, i did this but then when i researched some more i wasnt sure if i wanted to do it. I heard that we wouldnt be able to get a new aptartment or rent, our utilities would go up, our insurance would go up, exc. Other people told me it really helped so im confused.
Now I work for a temp service and the place i had been working doesnt need temp help anymore so im in job limbo again. Do to this im thinkihng of filing again, the October date is getting close, and now im a month behind. I think were judgement proof (MAke around 1400/month, rent, no savings or assets) anfd i heard that if your judgemnent proof then filing makes no sense.
Im wondering if not paying the bills will effect my credit as much as BK, they wont neg. with me and i dont now what to do.
sorry this was so long, please help!
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