Completely lost.. Advice needed.

[tisci]

Hello all. I have been lurking on here for awhile & decided that I should post & get some advice. I'm obviously having some financial problems & am looking into bankruptcy. I don't want to file, but might not have a choice.

Right now I'm barely making enough money to pay my bills. I can't afford rent & am 25, living at home w/Mom. I have had some medical issues & have missed a god amount of work. It sometimes comes down to either paying a bill or getting a prescription filled. I was going to try to buckle down & pay all my debts off once my hours pick up again, but that will take me forever. I have about $17,000 in unsecured debt & when I'm at work full time, I make 32,500 before taxes. I was stupid & helped someone out who said they could pay me back & definitely learned my lesson there. Some of it is from when my car broke & I needed to repair it. Other is for necessities when I didn't have the cash to buy them.

I spoke to a lawyer who said I would qualify for Chapter 7. However, all I hear from people is how it's going to ruin my life. That I will never be able to get decent interest rates, get an apt & that I won't get a good job because once you put on an application that you have filed, you don't get hired. I worry about all of this so much, I literally make myself sick. I have about 6 more months before I have to move out & if I don't do something to get my bills resolved, I'm going to have no way to pay rent.

Thanks in advance to anyone who reads this & sorry it's so long.

[StartingOver08]

Please post your details. If you are making $32,500 and have $17k in debt and have no rent, then something is wrong.

How long have you been sick? Is it a temporary condition?
Why do you have to move out in 6 months?

Please provide the details of your debt. Do you have a vehicle payment included in that $17k of debt? If we know more, maybe we can help you with suggestions for a plan to recover financially.

[OhioFiler]

I don't believe an application for employment has a space to indicate whether you have filed bankruptcy or not. Some indicate you are subject to a background and credit check. A bankruptcy only affects your employment chances in a few narrow industries or positions.

Bankruptcy will not ruin your future. Whoever you've heard that from are really ill-informed ignoramuses. Is GM ruined? Is Donald Trump ruined?

My concern for you is whether you have the expenses necessary to offset your $32,500 income in a Chapter 7 filing. If not, you become a Chapter 13 candidate and at that point I would consider other options before bankruptcy.

[whipster1]

"all I hear from people is how it's going to ruin my life."

First of all, don't tell everyone your personal business. BK is a business decision. You will get credit QUICKLY after BK. You would be surprised how many of your friends and neighbors have filed.

[pookieny]

Walt Disney went bankrupt a few times too.

[frogger]

And most people will never know that you went bankrupt. And if they do.... who cares?

[tisci]

I'm currently not making that amount because of my medical issues, I have made about $17000 this year so far. After taxes & all deductions, my biweekly pay for a full 80 hours is $870. I get severe migraines & the doctors are trying to find the correct combination of medications to both prevent them & to quickly stop them if I get them. I am stuck in bed when I get them. My last paycheck was $380. I will go a few weeks & be fine & then get them really bad. This has been happening on & off since January w/me going back & forth to the doc, having tests done & changing medications. It's not only affecting my job, it's messing up my life & I'm doing all I can to get them controlled so I can live & work normally again.

I also have a student loan ($80) & I do give my mother some money, about $110 a month. I also have monthly prescriptions for other medical conditions that I need to get monthly. I take out $213 every paycheck for a cash system to cover things like gas & my medication along w/groceries & any other necessities. I pay my mom rent & pay my student loan. With my paychecks not being typical, I'm having a hard time paying my minimums.

I don't tell everyone my business either. There are a few select people that I am able to confide in & none of them have been encouraging. I'm not sure where to turn at this point & was hoping to get some good advice on here.

[tisci]

I forgot to add that I pay $110 for car insurance every month & that any of my "budget" money that I end up not using (if I don't need all the gas money or something) goes towards my bills as well.

[OhioFiler]

It seems you average about $1,400 take home pay each month.

Your indicated expenses for each month are less than $1,000. we need more info on your current budget to really offer solid advice.

[tisci]

I'm sorry. I'm going to look over my spreadsheet again & post everything.. Thank you all for the advice.

[MSbklawyer]

However, all I hear from people is how it's going to ruin my life.

I am continually AMAZED by the amount of misinformation people have about the bankruptcy process and what effect it will have on their lives. Following are some of the "facts" about bankruptcy that I have had to pry out of clients' heads that they just KNEW were true because it's what their "friends" told them:

-- That they would only be allowed to keep a bed, one set of sheets and a blanket, one pair each of underwear & socks and a pair of shoes. Everything else had to be turned over to the trustee. ((She really thought that the trustee was going to take all her underwear. It was really hard convincing her otherwise. Some lady in her church had told her so. Tell you what lady, bring allOh, and just in case you were thinking of hiring some city slicker lawyer to put you in bankruptcy -- well, that's fine. We here at Big Conglomerate Usurious Bank are your friends and we understand how those things can happen. But don't come to us when you need to charge some new underwear because the bankruptcy trustee took all your old ones -- We won't be able to extend you any credit. And it sure will be sad to see you living alone the rest of your life since no one will marry you. But like we said, we're your friends and we understand. ."

[ForumReader]

[MrSmithster]

on the surface, doesnt this seems to be an easy no asset chapter 7? maybe start paying your mom more for rent and get her to give you receipts(she can always "gift" some back to you). i would also find a way to take the means test. what state are you in? any assets? what is your car worth? i went to 3 lawyers for free consultations, 1 gave me the means test on the spot(i was ready, with all my info), showed how i passed even keeping my car worth $5K. i then filed Pro Se. and unless someone has filed themselves, they most likely dont have a clue about BK filings. by the way im at 124 days after my 341, still no discharge as they are very backed up, clerk said they are taking approx 130-150 days currently, so dont plan on best case time-line.

[killinstinct]

I am continually AMAZED by the amount of misinformation people have about the bankruptcy process and what effect it will have on their lives. Following are some of the "facts" about bankruptcy that I have had to pry out of clients' heads that they just KNEW were true because it's what their "friends" told them:

-- That they would only be allowed to keep a bed, one set of sheets and a blanket, one pair each of underwear & socks and a pair of shoes. Everything else had to be turned over to the trustee. ((She really thought that the trustee was going to take all her underwear. It was really hard convincing her otherwise. Some lady in her church had told her so. Tell you what lady, bring allOh, and just in case you were thinking of hiring some city slicker lawyer to put you in bankruptcy -- well, that's fine. We here at Big Conglomerate Usurious Bank are your friends and we understand how those things can happen. But don't come to us when you need to charge some new underwear because the bankruptcy trustee took all your old ones -- We won't be able to extend you any credit. And it sure will be sad to see you living alone the rest of your life since no one will marry you. But like we said, we're your friends and we understand. ."

This is classic. I LOVE IT!!!!!

[Chowder]

However, all I hear from people is how it's going to ruin my life.

I know some folks that truly believe this. The list of other things they truly believe would have you all in stitches.