New here. Need advice.

[IsLNdbOi]

I'm in NV and have thought hard about filing for chapter 7. I have around $80000 in student loan debt and almost $20000 in credit card debt. The payoff amount of my car is $14797.

I do have a job, but get less than 30 hours a week and get paid only $10 an hour. I'm having difficulty paying all my bills every month. I've had to move back in with my parents.

I'd be able to pay my student loan debt easily if I could discharge my non student loan debt.

Does chapter 7 sound like something I should do? I'd really like to keep my car. I know NV does not have a wild card exemption, but this site:

http://www.chapter7.com/bankruptcy-attorneys/nevada-bankruptcy/

shows that cars under $15000 can be exempt. Is there a walkthrough of how the chapter 7 process works and what I have to do? As it is, I don't think I could even afford an attorney and I don't want to ask family for money since they're in a bind as well with their home.

[qsr]

You should probably consult with a lawyer to figure out how you can reduce your student loan debt. You'll never pay it off in your lifetime at the rate you're going. Basically your numbers aren't adding up. $20k in unsecured debt isn't insurmountable. I'm guessing you're underwater on your car, so you won't have to worry about losing it as long as you continue to make payments. Actually you wouldn't anyway since your equity would be exempt.

I agree with some people in other threads who have said that it's outrageous that someone allowed you to rack up that much debt in school when you can only get a $10/hr job with a degree. There's something seriously wrong with the higher education system.

[IsLNdbOi]

The $80000 in student loan debt is in both private and federal loans. I racked up that $20000 in credit card debt on books for school and for living expenses and bills the first two years after finishing school. I wasn't able to find a job those first two years after school and the job I finally did get (the one I have now that pays $10/hour), well I'm lucky just to have it.

I'm not behind on anything right now, but will soon be if things don't change for me.

[inacorner]

From what I know since I will be finalizing my Ch7 filing soon and have close to 70k in student loans, 250k in a upside down mortgage, 6k in cc, and 5k in car...I can not get rid of my student loans. From talking to a lawyer that works as a trustee for the state and on both creditor/debtor sides of the finance world...a bad economy, not finding a job, etc. are not valid reasons to discharge a student loan. A medical reason such as terminal health or retardation are valid reasons as is being a single mom with 6 kids and a low paying job. He also said that the DOE (Department of Education) guidlines for discharging debt carry a lot of weight on whetehr a debt is dischargeable.

One thing to look into would be the DOE website for options in paying back student loans. Supposedly there are several options that can help.

I finished school this past spring and I'd be in good financial situation if it wasn't for the mortgage which is putting me into bankruptcy.

[IsLNdbOi]

I pay these each month:

3 credit cards (Amazon.com Chase VISA, Buy.com Chase VISA, Bank Of America VISA)
Newegg Preferred Account
Dell Preferred Account
Sony Financial Account
Bill-Me-Later Account

Cell Phone Bill
Car Insurance
Car Payments


It would be much easier for me to keep paying my student loans and car / car insurance and cell phone bills if I didn't have all the credit card and credit accounts.

One thing I did with the credit accounts (Bill-Me-Later, Newegg preferred, Dell Preferred, Sony Financial) back then (during the time I couldn't find work) was to buy things with them then try to sell the items for cash. It wasn't smart, but it worked back then. Now all of this debt has caught up with me.

Are there attorneys that give free consultations? If I can't afford their services right now, can they put me on some kind of payment plan? I don't understand how someone in my position can afford to file for Chapter 7 if there's not enough money for me to pay all that debt in the first place.

[keepmine]

Well, you're still paying debt you wish to discharge. Stop paying that and save the money for legal fees. Most bk lawyers do give free or lowcost initial consultations. Speak with a few and get all of your options explained.

One suggestion I'd make is, put bk on the backburner until, you get your finances stablized. Let the credit cards go and stay current on the SL's and the car {if you want to keep it} and put on a full court press to find a fulltime job or anothetr pt job. You still need to support yourself post bk. AT $10/hour, you'll still be living at home even with a discharged bk. You need a job with some health care benefits. You don't want to be discharged and 6 months later get sick and have already played the bk card.
You are in an excellent position to plan your bk.

[IsLNdbOi]

So I should just stop paying on the debt I wish to discharge and keep paying on the student loans and car?

I'm looking for a local bankruptcy attorney that does free consultations as I really would like to get things rolling.

I've also been looking for a new job for the past year and a half with no luck.