Hi, I am desperate for help. I have been mentally ill for a decade now and at one point three years ago my medications were not right and I fell into my bipolar disorder full force. When I was manic I would make poor financial decisions and got into so much debt.
I tried to commit suicide twice and then was finally put in the hospital and then out patient treatment. Now I am on the right medications and back at work, but can’t pay the bills that I accrued. Many of them I don’t know how I got them because I don’t remember what I do when I am manic.
I am being threatened and harassed constantly and I am being garnished. I can’t afford to file bankruptcy because I have the garnishments and live paycheck to paycheck. They also say that I will have to file the bankruptcy that makes me pay it all back and I can’t afford that either, but since I have a good job they say I do.
Please help me I wouldn’t have made these poor financial decisions if I hadn’t been so sick. Now, I don’t know what to do and no one will listen to me.
I need advice on how to handle this situation.
Whew, I’m glad you contacted me. The bipolar debt is something I see a lot of. In fact you might want to listen to one of my interviews I did with Paul. Meet Paul: LendingClub.com Borrower Taking Control of Debt Influenced by His Bipolar Condition. It will all sound very familiar.
I’m not sure who has been giving you advice up to this point but it is not correct.
Bankruptcy is the best way out of this situation for you for a number of reasons. First, bankruptcy will kill the garnishments. You will not be required to pay anything back from the past. Now, depending on your income you might make too much to pass the means test for a Chapter 7 bankruptcy, but in a Chapter 13 bankruptcy you will only repay what you can reasonably afford. Without the garnishments it should be a lot easier for you.
But the most important reason you urgently need to go meet with a bankruptcy attorney is for your mental health. With your history of mental health issues, the last thing you need is the added stress and depression that is brought on with crushing financial problems. You will find once you properly address the money troubles you will feel better mentally as well. I know the medication is helping but imagine how good you’d feel without that additional stress.
I am no way suggesting that you should file bankruptcy, just because you might have a little stress. This isn’t like the kind of stress when you are late for an appointment. You have a lot of stress that will not cease and you can’t see an end to it without the intervention of bankruptcy. And we also need to eliminate the underlying issue, the debt, which exacerbates your predisposition towards suicide.
Click here to find a local bankruptcy attorney you like and go talk to them. They can help you work out a solution to pay for it. And if you already saw one and walked away with the impression you wrote to me, you need a second opinion, go.
If you follow my advice, in six months and you will feel like your life has changed for the better dramatically.