I have been reading this forum for about six months now and am contemplating whether to BK or try to work it out myself. We have a 1st mortgage at 200,000 and a line of credit topped off at 194,000. We took out the line of credit on the house when things were going good a few years ago to buy a commercial building in town to support the wifes business. We proabably have between 125-150,000 in credit card debt. Our business is incorporated but most of the credit is still under my name. I am current on our mortgages but credit cards stopped receiving more than $10 bucks a piece over six months ago. In the midst of all this I have a new job offer which would require a relocation. We have tried debt management but the minimums are still way over our budget. We know we have to get rid of our dream home either way. My main concern is having someone come into my house and take all my worldly goods away. We don't have anything of exceptional value just standard furnishings and big tv etc....no jewerly other than wedding bands and so forth. Cars are 7 and 9 years old and paid for.
If we file the BK and take the new job it would seem like the opportunity for a fresh start. I have to send a letter of acceptance for the new job offer today and the new job starts Feb 2010
Sorry for the rambling....just need to put something out there...no one else to vent with except the wife. Bless her heart.
If we file the BK and take the new job it would seem like the opportunity for a fresh start. I have to send a letter of acceptance for the new job offer today and the new job starts Feb 2010
Sorry for the rambling....just need to put something out there...no one else to vent with except the wife. Bless her heart.
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