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    Oh my goodness...

    Hello to all. I have a seriously bad feeling I need to file for bankruptcy. I am a 29 year old man living in Ohio. I have a good job, but after my Child Support and monthly bills I have literally no money to pay any of the credit card or 2 personal bank loans that have been haunting me the past several years. I rent a house where my 2 children and I live, and drive an 8 year old Tauras so it's not like I am living it up and didn't want to pay the monies back. After their mother left (we weren't married) and started taking me for support (even though I have them 65% of the time) I just can't keep up with everything. I owe somewhere around $35,000/$40,000 between 3 personal loans, and about 6 credit cards (about 50/50 split). I have been dealing with this for up to 5 years on most of these bills and usually paying them off one at time thru garnishment of my paychecks unfortunatly. Now I am to the point where anymore taken from my checks and I will not be able to by groceries for us or gas for my car to get to work (a 45 minute drive ONE way!). I make exactly $50,000 a year, and have no retirement monies at all anywhere. I also have no belongings other than our home furnishings and the clothes on our backs. I don't even have a cell phone for that matter. I do have the internet though, and hopefully it will help me get thru this with the help of people like you! I appreciate any insight into what you think I can do.

    -Michael

    #2
    Sounds like you are a good candidate for Chapter 7. call a lawyer!
    BUSY running my own credit repair services! Sorry I don't stop in so often any more!

    Comment


      #3
      Originally posted by MGH
      Hello to all. I have a seriously bad feeling I need to file for bankruptcy. I am a 29 year old man living in Ohio. I have a good job, but after my Child Support and monthly bills I have literally no money to pay any of the credit card or 2 personal bank loans that have been haunting me the past several years. I rent a house where my 2 children and I live, and drive an 8 year old Tauras so it's not like I am living it up and didn't want to pay the monies back. After their mother left (we weren't married) and started taking me for support (even though I have them 65% of the time) I just can't keep up with everything. I owe somewhere around $35,000/$40,000 between 3 personal loans, and about 6 credit cards (about 50/50 split). I have been dealing with this for up to 5 years on most of these bills and usually paying them off one at time thru garnishment of my paychecks unfortunatly. Now I am to the point where anymore taken from my checks and I will not be able to by groceries for us or gas for my car to get to work (a 45 minute drive ONE way!). I make exactly $50,000 a year, and have no retirement monies at all anywhere. I also have no belongings other than our home furnishings and the clothes on our backs. I don't even have a cell phone for that matter. I do have the internet though, and hopefully it will help me get thru this with the help of people like you! I appreciate any insight into what you think I can do.

      -Michael

      Michael,

      Get in touch with a few BK attorneys ASAP! Based on the numbers you presented, your debt to income ratio is ideal for a Chp7.

      Good Luck!
      The information provided is not, and should not be considered legal advice. All information provided is only informational and should be verified by a law practioner whenever possible. When confronted with legal issues contact an experienced attorney in your state who specializes in the area of law most directly called into question by your particular situation.

      Comment


        #4
        I appreciate your input. Thanks for your time!

        Comment


          #5
          MGH,
          I would say get an attorney asap ! We also live in Ohio! We just filied this week and believe me , just doing that makes you feel like a weight is lifted off of your shoulders. My husband started a small business that crashed and then everything started to snowball .....so here we are ! This forum is very supportive and can answer many questions for you... so ask away...

          Comment


            #6
            Thank you shygal. I appreciate your first hand knowledge and understanding of the situation.

            -Michael

            Comment

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