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I Have Been Irresponsible With Credit Debt for Years Now. Sinking Fast. – Kevin

I have been irresponsible with credit debt for years now. It has finally caught up with me. I personally have over $60k in credit debt. My wife and I make a decent living, but because of my debt, I have placed my family in a situation that now is critical. I am almost at the end of my rope. I am not one to look to place blame on others. This is my own doing. Nobody forced me to obtain credit card after credit card, as well as, run them up.

Even though I am married, can I file bankruptcy seperately, for my credit debt only? I can’t loose my home or cars (which are jointly owned).

Please advise

Kevin




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Sincerly,
Steve

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.


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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

2 Comments

  • Hello Kevin,

    The first thing I would recommend is to set up a consultation with a local Bankruptcy Attorney. He/She can tell you the specific laws and exemptions for BK in your state and also how a BK would specifically affect you and whether or not it would need to involve your wife.

    If you are planning on filing BK, and your issue is a lack of cash flow, one of the things you can do is start to let the payments on some of the unsecured cards go so you can build up a little cash in the bank.

    If you tell me a little more about your situation I can offer more specific help.

  • Hello Kevin,The first thing I would recommend is to set up a consultation with a local Bankruptcy Attorney. He/She can tell you the specific laws and exemptions for BK in your state and also how a BK would specifically affect you and whether or not it would need to involve your wife.If you are planning on filing BK, and your issue is a lack of cash flow, one of the things you can do is start to let the payments on some of the unsecured cards go so you can build up a little cash in the bank.If you tell me a little more about your situation I can offer more specific help.

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