I Do Not Want to File Bankruptcy a Third Time. – Brenda

“Dear Steve,

I have 28k in unsecured debt for credit cards and a line of credit loan.

I owe 1,600 in payday loans which are killing me each month, because I can never pay them down and they are taking a chuck of my month income.

I owe $4700 in Federal taxes that I’m making monthly payments on, but the payment is less than what they are charging in interest and penalties. I have delayed my 2010 tax filing until October because I expect to owe another $3500.

I don’t own anything and have no savings.

I make a great salary ($90k/yr), but it all being sucked up by my debt each month. I have nothing to show for my earnings.

I filed Chapter 13 bankruptcy in 1993 which was fully discharged. I filed Chapter 7 bankruptcy in 2002, which will be fully discharged in Feb 2012.

Obviously, I am horrible at managing money.

I need help to get things under immediate control. I am already falling behind on my bills. For the first time this month, my income will not be enough to cover my expenses. I’ve been turned down for a personal loan for bill consolidation. I don’t want to file bankruptcy for a 3rd time.


Dear Brenda,

Ultimately we need to look at the underlying reasons why you have not been able to make ends meet. Were the two previous episodes due to something beyond your control?

Can you please provide some more information for me in the comments below what lead to your first and second bankruptcies? I’m also interested in knowing what happened that led you to not live within your income this time?

What is going on?


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.
Damon Day - Pro Debt Coach

Steve Rhode

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