I wanted 13, but attorney says 7

[Genenco]

Well, hello all...Here's my story.

I have $13,000+ in CC debit...A signature loan for $1,000 and I owe $23,000+ on a new (Read used) ride I bought a month ago.

2 weeks ago, I was contacted by 2 CC companies about late payments...Plus the charges now piled up was $900 in arears...

One did offer to let me pay $200 a month and dropped all interest and late fees and overlimit fees..The other said "You'll pay"

The thing was I agreed to that $200, but with my $500 car payment, $200 CC payment and the 4 other cards, I thought "Ok, maybe a 13 would be helpful"

I called bankruptcy lawyer and while I'll wait till he sees all the numbers, he's already saying "You make $1,550 a month? I've NEVER seen one that low requesting a Ch 13 and REALLY suggest a 7 instead"

On one hand, yes I could let the ride go back, as the house I reside in (Free rent in exchange for caretaker for elderly parent) will be sold next year and I'll have to move which means I'll pay rent and the car payment and cheap rent here is $500+ So I see the slope just got steeper...

(Funny how you start typing stuff out and see what the lawyer already did)

Well, I have an appointment Monday...$700 for Ch 7...

OK, the last thing...It is me, I admit it's my fault and I am accepting that...I hate to say this, but this is not the first time for me...I guess I either will learn this time, or just clean out the rifle and load it one last time...(Kidding...I think)

On the sig loan, should I reaffirm? Or on one of the CC's? There's one that is VERY low and is low on credit limit too...

Thanks for everything....

[HHM]

Aside from the fact you live rent free, why would you want to do a Chapter 13. There doesn't appear to be a need for it. If you are current on car payments, you can keep the car in a Chapter 7. And with your income, why waste time and money on a 13.

[Genenco]

Aside from the fact you live rent free, why would you want to do a Chapter 13. There doesn't appear to be a need for it. If you are current on car payments, you can keep the car in a Chapter 7. And with your income, why waste time and money on a 13.

Well, it wasn't until today (After chat with lawyer) that I found out I was so out of touch with the levels required that I bow to his wisdom and will file Ch 7 although I do it with regrets (Hey, I like to think I'm an honorable person) and so I guess I'll be heading into the lawyers office prepared to go the Ch 7 route..

As an aside...I find I am WAY below median income for a household of 1..I make $1,550.00 and IRS says $2,990.00 is average.

When I have to relocate, it will be a distance and such that pay scales will be lower and so I might as well get rid of it now instead of later.

[StaciMM]

Out of curiosity, do you want to keep the vehicle or are you going to include it, then try to get something with a lower payment down the road?

Well, it wasn't until today (After chat with lawyer) that I found out I was so out of touch with the levels required that I bow to his wisdom and will file Ch 7 although I do it with regrets (Hey, I like to think I'm an honorable person) and so I guess I'll be heading into the lawyers office prepared to go the Ch 7 route..

As an aside...I find I am WAY below median income for a household of 1..I make $1,550.00 and IRS says $2,990.00 is average.

When I have to relocate, it will be a distance and such that pay scales will be lower and so I might as well get rid of it now instead of later.