Need some advice

[AFreshStart]

I have a question to all of those who have went through or going through BK. I'm neck deep in debt and I see two possible solutions of getting out of debt is to 1. get a second full time job or 2. file for bk. I would like to do option 1 but a 33 year with 2 kids, my body is telling me no. However, I would like to do option 2 but I'm scared if my clearance (for my job) gets revoke. I need this job and I've had a clearance for 15 years and if I lose this clearance, I'll lose my job and then I'm really stuck in a rut. If I opt for option 1, my body will be tired and then I won't have any time to spend with my kids. (My ex is no help). I live in a state with no family support. I have enough cash for a plane tickets if I really need help. I thought about calling my 401K rep and take a huge withdrawal. My question is that if I file for BK, how or when will the govt know that I file for BK. I posed this question to my lawyer but I felt he was giving me a 'assurance' speech (Lawyers will say anything as long as they get their money). What must I do and I really need a fresh start.

AFS

[Rover]

Why not do both? At 33, you're still a baby.

It's illegal for an employer to take any action against you because you file bankruptcy.

Listen to your lawyer. He's giving you good advice and assurance.

[anonymuse]

Although it is illegal for an employer to take action, depending upon what type of clearance she has (could be financially related) it could indirectly affect her be losing clearance.

I'm not sure who you would call; but whatever agency issues the clearance, find out their rules from the agency (not work) and their bk policy and get it in writing.

When you file for a BK, all of your creditors are notified. Not sure exactly how "the government" finds out--I think you mean how would where you work (it is a government job?) or who get your clearance from find out. It would wind up on your credit report; however, I don't think any job could be pulling your credit report without your permission.

You're 401K is protected during a BK, so avoid a withdrawl if at all possible.

If you have 2 kids, do they need a sitter? Will a second job be enough to be worth it to pay for the sitter/day care?

Not trying to pry, but trying to help (not sure if the lawyer went through this with you):

What state do you live in?
What is your average monthly income for the last 6 months?
Do you own a home? Are you current on the mortage? How much equity do you have in the home?

[AFreshStart]

Although it is illegal for an employer to take action, depending upon what type of clearance she has (could be financially related) it could indirectly affect her be losing clearance.

I'm not sure who you would call; but whatever agency issues the clearance, find out their rules from the agency (not work) and their bk policy and get it in writing.

When you file for a BK, all of your creditors are notified. Not sure exactly how "the government" finds out--I think you mean how would where you work (it is a government job?) or who get your clearance from find out. It would wind up on your credit report; however, I don't think any job could be pulling your credit report without your permission.

You're 401K is protected during a BK, so avoid a withdrawl if at all possible.

If you have 2 kids, do they need a sitter? Will a second job be enough to be worth it to pay for the sitter/day care?

Not trying to pry, but trying to help (not sure if the lawyer went through this with you):

What state do you live in?
What is your average monthly income for the last 6 months?
Do you own a home? Are you current on the mortage? How much equity do you have in the home?

Anonoymuse,

To answer your question, my kids are young (4, 5) and I would love a sitter but I can't afford to pay them. My rent here in CA is $1576 for a 3bd. I looked for a smaller apartment but hell they are asking $1300 - 1500. A studio will not do so I need at least a 2 bd place. My job (employers is a civilian) but the clearance comes from the govt. I read up on the documentation about filing for Bk and how the govt conducts its investigation and such but I'm curious how will they know. It's not like I'll conceal my financial life with them, I just don't want to lose my job. A second job will help but I have to find a job that will not conflict (contractural issue) with the job I'm working now. In other words, I need to find a job in the same industry. So working at BestBuy, Hotels (no offense to those who are working at these industries) will not put a dent into my debt.

I thought about withdrawing a lump sum on my 401K but my lawyer told me don't do this. I'm desperate and at a crossroads and sometimes I wonder why is this happening to me. I worked so hard to provide for my kids and it seems unfair. Well I'll talk to my lawyer about the clearance thing and see what it says (I just found out he was in the US Navy as a JAG, so hopefully he'll provide some good insights).

AFS