To file or not? That is the question

[Genenco]

Well hello folks. Been a long while since I was here and things have slowly dribbled down even further then they were before I left.

I'll reprise the past:

$11,000 repo (Wa state)
$4,500 repo (MO State)
$8,000 Various small Med bills (Heart Attack 2010) (WA state) (Lucky the Hosp forgave the major bill of $42,000+)
$5,000 Various old debts
Finished college (Was laid off a 2nd time since 2006 and went back to school for Medical Billing and Coding. Nobody wants to hire a 50 year old it seems)

March 31st, moving into car to live out of. Yes living out of my car. UI will end April 6th (Funny, that was Mom's Birthday) and so far, there's really not alot of places wanting someone like me working for them.

Luckily also, I am prepping for this. Have station wagon (Would have liked van, but oh well) have basic stuff for power and bedding.

So I am thinking that for right now, filing will not be a priority, but living of course. I should have about $1,000 in bank when I leave this place I am at.

The thing I, even when I do get work, I am not too keen about renting again. I know this "Could" have a downside, but if the creditors want to chase me, they'll have to have a good nose as I'll be only going from state to state every 4-6 months (Working and sight-seeing on the road)

So anything or suggestions you have?

[BROKEDED]

Always wear clean underwear?

[justbroke]

Whether 'tis nobler in the mind to suffer the collections and harassment of outrageous creditors, or to take arms against a sea of junk debt buyers. And by filing bankruptcy, end them?

You read as thought your collection proof anyhow, once the $1K in the bank is used up. Tough to gauge otherwise. Did you ever file back in 2005, or have still been avoiding filing?

[Genenco]

It wasn't so much avoiding filing. Just didn't do it as I was dealing with dying Mother after I lost job. Then went to MO for 2 years, hoping to turn the tide of misfortune. Not alot of success there either. So come back, get job (Temp) then hired then 9 months later let go. Been unemployed since May 2009.

Retrained in trade school, but so far, no interviews and not working. Not much really left. Thanks for reply.

Thanks for the reply.

[debthelper]

When you can't find anyone to hire you for work that's when you must go into business for yourself. Do side jobs for cash or learn a sellable skill for free using youtube how to vids. If I were you I wouldn't file for bankruptcy cause if your are totally broke and jobless there is nothing the creditors can do about it and don't worry about your credit score, a good credit score wont do anything for you anyway if you are broke and jobless. I would rather have money then a good credit score if it came down to it. In a couple years you can square up with your creditors and then your credit score will improve and you wont be stuck with a bankruptcy on your credit report for the next 10 years.

[tcreegan]

Hi Geneco,

This was the part that got me: I know this "Could" have a downside Your Mom passed away, no job, out of unemployment, you're broke and homeless, I hope you are as far down as you are going to go!! Its gotta be up from here!!

Got no words of wisdom, but I will say a little prayer for you....

Tom in Colo

[tcreegan]

Hey debthelper,

Seems like a bit of a contradiction here:

don't worry about your credit score, a good credit score wont do anything for you anyway if you are broke and jobless. I would rather have money then a good credit score if it came down to it. In a couple years you can square up with your creditors and then your credit score will improve and you wont be stuck with a bankruptcy on your credit report for the next 10 years.

....

[debthelper]

Hey debthelper,

Seems like a bit of a contradiction here:

....

tcreegan

There is no contradiction, (or I don't see the one you are referring to) if you are broke and jobless you are not going to be buying a house or a car so it doesn't matter if your credit score is bad. The second sentence means that if I was broke and jobless but could scrape up like $100 per month or so, I would use that money for food or stuff I need as apposed to sending it to a credit card payment of $100 just to keep a good credit score. Third sentence is saying that if, after a year or so, you get a job or come into money, your credit score will then become important if you want to finance anything, so you would need to settle with your creditors which will improve your credit score and take the collection accounts off your credit report. If you do it this way you could have a 750 credit score within two years and no negative marks on your credit report but if you file for bankruptcy and better yourself within a year you are still stuck with a bankruptcy on your credit report for 10 years and if you try to finance a house or anything they are going to see that bankruptcy and either give you a high interest rate or deny you all together.

[discouraged]

Debthelper - by the time you get to the point where you have to live in your car because no one will hire you, a credit score has got to be the least of your worries. I know where Genenco is coming from. I have been unemployed since 10/2008 with two long term temp jobs that helped me survive so long. I am still getting unemployment because of those jobs but the reality is, no one wants to hire us older workers.. (I'm 57).

The only reason I'm filing is because I have to get rid of this house and bk is about the only way that is going to happen.

[spidge]

Man, you are in a bad place for sure. Good luck on finding the path to a better life.

[BrokeinMD]

If this were me, before filing BK, or even caring about it, I would straighten out my living situation. If you want a place to live, rather than being in the car, I would seek out the nearest city building and speak to a social worker about affordable housing, job counseling, food stamps, etc. Social programs are there for those completely bottomed out. Good luck to you....

[debthelper]

by the time you get to the point where you have to live in your car because no one will hire you, a credit score has got to be the least of your worries.

That was the point I was making, if a person is broke, jobless and living in a car don't worry about your credit score just worry about yourself. For the bankruptcy, it is really only useful in special situations (like how you need it to get rid of your house) but one shouldn't file bankruptcy just because they are afraid of creditors finding them. First off the creditors are smart enough to know if you have money, assets and/or a big paycheck coming in, if you don't (like you are broke, jobless and living in your car) the creditors will not want to waste money trying to come after you and they will just write it off. Even if they do come after you and take you to court, not even the most powerful judge in the world can make you pay anything if you are broke and living in a car.

[discombob1]

I agree with others... BK is low on your list of needs. You need to worry about your physical and emotional safety first. If you want to live in your car and can do so safely than godspeed. But generally, being homeless and unemployed at age 50 carries risk with it. There are resources available to help; PM me if I can help. Good luck!