I have a lot of old, old debt from my marriage that ended in divorce 4 years ago. Due to myself having the only full-time income at the time, all of the debt was in my name, so my ex-husband got out of having to deal with it.
Anyway, I have been struggling, just to survive since the divorce. With rent, vehicle payment, ins. and all of the other living expenses, I barely have enough money from month to month to get by. I have creditors calling about the old debts. I have been ignoring them. I have not promised any of them anything.
Alot of the debt is old credit cards and medical bills that my health insurance did not pay. My credit report stinks. The interest on my vehicle loan is enormous. I owe about twice as much on the vehicle as it’s worth. I have been contemplating bankruptcy but have been unable to come up with the money for an attorney. I have no savings.
Due to some issues with my mom and dad, they may be able to give me the money for a pro-se bankruptcy. My main question in all of this is: Should I let my vehicle go back and file against it also? My daughter has an older vehicle that I could possibly drive at least for work. It has a small loan on it, but I could definitely handle that payment. This would save me about $360.00 a month. Help please!!!!!
Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to beat back debt. – Click Here
Giving the car back makes a lot of sense. If you are going to go the bankruptcy route then get the total fresh start you can. I’ve seen people hold things out like the car, only to have it not work out and then they are stuck with the debt they could have included.
It is so nice you’ve got someone that can help you out on the fees. I’m always a huge fan that an investment in a local bankruptcy attorney is smart. I’ve just seen too many cases when someone tried to do it themselves and made mistakes. You might want to click here to find a local bankruptcy attorney you like. Most offer a payment plan and maybe that will help. Besides if your mom and dad lend you the money for bankruptcy, you can pay them back afterwards.
If you still want to do it yourself, here is the link to download the bankruptcy forms.
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.