hello I think this is a really good site, very informative. Here is my situation. I have 14,500 in credit card debt. I am considering BK and I am a college student. I lost my job in Feb 2004 and I started working again recently on a part time job. Should I file? My expenses are 626 and my income is 700. I had a consult with 2 lawyers and they said i should file, as this is affecting me academically as well as physically. I have no car, no house, all my personal property is exempt and I owe the IRS this year on taxes, though not a lot. Should I file or get another job risking my education? Thanks for the opinions.
-
-
IMO...yes, you should
If only I knew back then what I know now.
My situation was like yours when I was in college--I was in denial and thought everything would work out, but guess what? You never know what the future holds financially. If you are stuck now and don't see getting out of it in less than 4 years without adding on any more debt or living like a hermit, you should go ahead and file.
You should go talk to an attorney. Draw up a budget and show exactly where your money is going each month.
Do you have school loans? You will also need to take those into consideration- lots of college students take out too many school loans (present company included) thinking that they will get a great job after graduation and pay them off quickly. Guess what? IT'S HARD! Life is cruel and doesn't always play out like you think it should.
My opinion is that you might be better off cutting your losses now, because it will be easier to bounce back when you're out of school.
I wish I had known about all of this 4 years ago when I got into my mess! I think you will be much better off liquidating your debts.
This is only my opinion and I recommend you speak to a lawyer. The initial consults are usually free.
Good luck and keep posting on the boards!!
-
i already have talked to an attorney and am going to talk to another one. Actually the one i am gonna talk to next was my mothers attorney during her BK. She is also a bankruptcy trustee....so i wanna see this from a trustee point of view. If she says i shouldnt file over this then I will not and I will get a second job and pay 550-600 a month towards my debts. that should get me out within 2 yearsComment
-
If you really think risking your college education is worth it. I can't see how it is even remotely possible to work TWO jobs and go to school full time. That is insane! Are you ever planning on sleeping? I know it is hard, I worked 30-40 hours a week while taking 12-15 hours every semester and I was wiped. It really is hard work.
Think of your personal health and well-being when you are factoring in how much this debt is really worth to you.
Just my advice...Good luck with you...Let us know what the lawyer slash trustee says about your situation.
Everyone on this board is very supportive and will answer the questions you have along the way too!Comment
-
I'm going to go along with Jeslyn on this one. Working two jobs could easily make you get discouraged academically.Comment
-
yea..the thing is I have had these accounts for around 18 months...one of them is about 4 years old....it was from my depression...I am thinkin of filling pro se...I havent used the cards since july..Comment
Comment