Do you think it's worth filing a second Chapter 7 in my situation?

[Confuzed]

Thanks for your time and advice in advance!!!

My situation: 9 credit cards for a total of around 25,000 built up over several years after my first chapter 7 in 2000. Several cards are around 4k each, some are at 2k and I stopped paying all of them several months ago since I ran out of steam and just got over my head in debt, they will be passed off to collection agencies in several months I guess.

Job: 44k per year for the past 7 years but the past 6 months I have a median income average of 38k so I have a shot at it now.

Last Chapter 7 was in 2000 so I am eligible again according to the law. I have 1 month before my income throttles up again which will make me take part 2 of the means test which is a nightmare...

I have no assets, no property, no vehicle in my name, I have access to one that is lent to me as long as I pay the gas and maintenance on it (mechanic, oil changes, tires, etc). I have no personal property, basically I just have my paycheck direct deposited into my checking account every week.

I am in a downward spiral in order to bail out of these 9 cards it would be impossible as I live paycheck to paycheck. Is it worth going bankrupt on this debt and be under the microscope of a trustee? I ask because my case seems like a drop in the bucket compared to what others are going through with mounting debt and it will be my second chapter 7. I dont want to go through all the hassle and be denied but I have no way out. Basically I am just getting hammered with calls and letters for now. My fear is garnishment in the future, that is the only asset I have. Should I wait it out for a year from now to see if my situation improves? Or should I go for it now??? (chap 7). Yes, I have learned my lesson, no more credit cards for me.

Thanks!!!!

[WoodSprite]

I'm afraid we have another troll...

Confuzed, welcome to the forum.

I don't see a moderator online at the moment, so I'll just point out that TnGurl joined this forum a few minutes before you did today, and has posted five times, including five links to products she's promoting. That's not what we do here.

[Moderator HHM, I think, has arrived and has blown TnGurl away since I posted this. Thanks, HHM.]

That said, she did at least take the time to respond to your post, and I imagine you'll hear a lot of that. If you file again now, and you know your income will increase in the next couple of months, you will be required to disclose that to the trustee that at your 341 meeting.

You don't say if there was some catastrophic event that plunged you back into debt so quickly, but you're right...you do need to find a way to keep this from happening again. It's up to you, of course, but if you're not making a car or mortgage payment, you may be able to pull yourself out of this, and it may be worth the effort.

Give it some thought...good luck, Confuzed.

[Confuzed]

Thanks!!! Well due to a mandatory summer vacation that my job has my income throttles down in summer then picks up every year. My jump in income will not be anything huge like a bonus. I had a consultation with an attorney and he said I qualify but I wanted advice from members if it was worth going through it again in my situation. The 9 credit cards are piling up even higher with late fees, interest, and everything else they pile on, I live paycheck to paycheck as it is, there is no way to climb out for now, but I can wait it out one year from today to see how nasty it will get for me (or maybe better?? gotta stay positive!) or I can just file and use my option. A friend told me that if anything huge were to happen to me negatively in the future, then I will not have the Chapter 7 option for another 8 years. He felt my debt was a joke, but it is a lot of money for me.