Chapter 13 or fast track debt relief.
I have a lot of credit card debt, (i.e. home improvements, dog vet and hospital bills, etc etc), my wife has 16K and has already paid off two cards, we have joint home depot and lowes bills of 18K. The total of all this is a whopping 130K! yes, i was out of control, and the banks raised my rates after we helped them too. my minumum payments were half interest and i couldnt pay more than the minimum as i had too many revolving debts.
I have spoken to a bankruptcy lawyer regarding this and wanted to file myself, they take the household income and even though my debt was not my wifes they still consider it that way so they said she should be filing with me. Because our household income is above average we do not fall into Chapter 7 and would have to do chapter 13.
The lawyer says we would have to file chapter 13 but I feel bad and am trying to find other options other than bringing my wife down with me as she has been snowballing her own CC payments and will now have to deal with bankruptcy. how much will a bankruptcy 13 damage our credit versus debt relief? also, i have heard of scams with the debt relief which makes me think we should just do it (the chapter 13), get it done, then try to get our credit up again. Thank you for your prompt response in advance.
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