Looking For Some Advice and Help

[NFSNow]

Hello everyone I am new here and have been reading the post on here and it seems that this is a great message board with a lot of helpful people.

Well here is my situation. I married with 1 child. My wife and I have 2 mortgages on our house. She owns a car in her name. I own a car in my name. My car is a 97 taurus with 180000 so there is not much value there. I have a car loan in my name for another car. Well I didn't have a job for about 6 months and I used my credit cards to help make up the extra money needed to pay bills and also I just used them for stupid purchases to. Well Ive accumlated around 35-40k in credit card debt. I make roughly 2000 a month bring home.

Ive finally got a job again, but after I pay all my bills money is still non exsistant. All these cards are in just my name not my wifes shes not even listed on the accounts as an autherized buyer. So Im looking to try and file chapter 7 with just me listed. Is it possible for me to do this? Would this be a good idea?

Im never late with anything and I don't want to give up, but im going to end up ruining my wifes credit, because if we want extra stuff or a nice night out we have no way of paying. I want a chance to start over and get everything right. I don't want to get rid of our home or car. Can I still keep them? Im not behind or anything. Also if Im able to do this should I just stop paying the credit card payments?

I know we will get some money back for income tax, but we are using that to pay off my wifes wedding ring thats in her name. So plan was to file after income tax time. Is this a wise idea. I appreciate everyones help in advance and Id like to say thank you for your time with helping me with this.

[TEW]

Yes you vcan do this but there are some things that you need to think about.
Will you file chapter 7 or 13 depends on how much you make and expenses.
Do you have any equity in the house?

[AngelinaCat]

Hi NFSNow, welcome to this wonderful forum. You will find a lot of support and help here. But I need to ask a favor or you:

Please go back into 'Edit Mode' and seperate your message into paragraphs. Each 'new thought' should be seperated into a new paragraph.

The reason I ask is that my tired old eyes are really tired, and when all the 'black letters' are jumbled together the way you have them, I can't read your message.

I wouldn't be surprised that some of the other posters just skip over your message for the same reason--w/o you knowing why.

Thanks,
AC

[relief13035]

silly question - how do you edit?

Nevermind - I see it now.

[NFSNow]

Yes you vcan do this but there are some things that you need to think about.
Will you file chapter 7 or 13 depends on how much you make and expenses.
Do you have any equity in the house?

Id like to do chapter 7. I have no equity in the house. As far as expenses rough estimate would be around 3000

Hi NFSNow, welcome to this wonderful forum. You will find a lot of support and help here. But I need to ask a favor or you:

Please go back into 'Edit Mode' and seperate your message into paragraphs. Each 'new thought' should be seperated into a new paragraph.

The reason I ask is that my tired old eyes are really tired, and when all the 'black letters' are jumbled together the way you have them, I can't read your message.

I wouldn't be surprised that some of the other posters just skip over your message for the same reason--w/o you knowing why.

Thanks,
AC

Thank you for the advice. I fixed it

silly question - how do you edit?

Just click edit.

[AngelinaCat]

Hi, you have done a masterful job of helping all of us to help you. Thank you.

I suggest that you go to nolopress.com and purchase and download their Ch7 book. It is only about $18.00 or so. It is written in plain English so that you can actually understand it. Plus it has been newly updated, Nov. 2008 or so, so that there is the latest info possible.

This will give you a good, working textbook--as it were.

Yes, you can file singly, seperate from your spouse, as long as your debts are not co-mingled with hers. This book will give you a good understanding of community property states as opposed to joint tencancy states, and all of that.

Good look to you. I will check in with you later on.

AC