Another Scenario need opinions/advice

[brandon]

So I've been laid off for a couple months. My mortgage is still current and i have 18k on my credit cards. A few of my credit cards still have zero balances. I used to make about 8200.00 a month and now I'm making 1800 a month.

I want to get out of the house I'm in and the huuge car payment I am in. If i end up maxing out my credit cards and finally am unable to pay my mortgage is there any reason why i would not be able to file bankruptcy? My wife does not even make half of what we need in order to cover our monthly expenses and the 1800 a month in unemployment is just not cutting it.

We are seriously thinking about giving up on the house/cars/credit cards and starting over. Is that possible? Any reason why a judge would not let us file?

[keepmine]

First of all, do you have any equity in the home or car?

Maxxed out credit cards and unable to pay a mortgage are scenarios trustees have seen a million times. Nothing unusual there.

[lrprn]

Why are you waiting to max out your cards to file? Go set up free or low cost appointments with 3-4 experienced bankruptcy lawyers in your area NOW and find out where you stand.

The biggest mistake that most of us made is waiting way too long to file. Don't follow in our foolish footsteps. Go find out NOW whether filing in your situation makes sense or not. (And unless there are some extenuating complications that you haven't shared with us, filing bk in your situation sure makes sense to me!)

You don't have to be maxed out on every front to file. As Keepmine said, there's nothing you've told us that requires you to wait or will raise any trustee eyebrows. Get going - make those appointments and let us know what you find out! Good luck!

[CindyLou]

just to add on to lrprn....in fact you shouldn't max your cards if you know you can't pay. That could put you in a position of suspsicision. See an attorney now and go ahead and see about filing.

Also, you should consider filing while your income is down and you will qualify for a chapter 7.

Good luck.