Should I file Chapter 7?
Posted in the Lyndhurst Forum
#1 Nov 7, 2013
Should I file Chapter 7?I am already pissed at myself and feel like a complete failure for contemplating this, so save me the guff... Anyways, I lived off of my credit cards for a few years when I lost a job and had some medical issues. Prior to that, I spent like a young 20-something who wants unnecessary BS.
I have 4 cards with a combined balance of $25,000. 2 credit cards have been inactive for months, and the other 2 have clothing/food purchases from 3 months ago. I have been trying to stay afloat and have paid on time for the last 10 years, trying to pay them off. My creditors have not treated me well for my loyalty and about 1 1/2 ago ( I missed my payment date by a few days), raised my minimum payment to amounts I can not keep up with. I have been paying them with my child's child support money since I have been unable to find work. I have lost so much in my life and I was really proud of my credit. But I feel like I am in a sinking ship trying to keep up and recently seeing how much more I have to pay since I can only afford the minimums on all 4 cards really made me feel hopeless.
By all means, I am a loser: I can't find a job, I qualify for food stamps, I am trying to finish college and can barely afford to buy textbooks, I am trying to raise a child alone, I am living off the kindness of others with no assets and about $50 in my checking account. I am terrified of stopping paying off my cards, but I literally think this is the only way. I hesitated all these years because I wanted to be responsible, and I heard bankruptcy ruins lives. What should I do? Where do I start? Thanks for your time
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