Get Out of Debt Guy – Steve Rhode Learn how to really get out of debt 
“Dear Steve,
Lost job. Depleted Unemployment payments. Living on Social Security only. Cannot pay all debts.
I lost my job of 14yrs in 2010. I have depleted all my unemployment and only have Social Security as an income. I am 71 yrs old and cannot find another job. I have $43.000.00 in credit card bills and a personal loan. Am considering filing for Chapter 7 bankruptcy but DO NOT HAVE ENOUGH MONEY LEFT EACH MONTH after my house pymt and utilities to pay for it. My husband had a heart attack and had to have surgery. He had PAD of the legs and could not work any longer, therefore had to retire on disability. When he retired, he lost his health insurance. Before we could get his disablility income, and Cobra Ins., he had a heart attack and had a 4/way by-pass. We had to borrow on the house to make ends meet. Now I am left with a house payment, which I can manage and the utilities, but nothing else. I lost him 1 1/2 yrs later.
I have been managing okay until I got laid off. Have tried so hard to find a job. The credit card companies are calling constantly every day all day long. I sent them letter stating I lost my job and could not make payments. I have never in my life not paid my bills, and this is driving me nuts. Cannot sleep or eat. Is there anyone who will help with the expense of filing bankruptcy? Very depressed.
Gwen”
The Answer
Dear Gwen,
I’m so sorry to hear of his passing.
It certainly sounds like a chapter 7 bankruptcy is a reasonable approach considering your situation.
Bankruptcy Articles and Posts You Must Read
To get ready to read the information below with the right frame of mind, please first read How Do I Get Out of Debt Quickly? Change Your Mindset.
Bankruptcy Advice
- Those That File Bankruptcy Do Better Than Those That Don’t
- How to Know if You Should File Bankruptcy
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- The Truth About Bankruptcy Success Rates
- How to Get Out of Debt Calculator
- How Long After Bankruptcy Can I Buy a House?
- Is Bankruptcy Sinful and Bad or Right and Moral? An Examination
- What Does the Bible Say About Bankruptcy? Is Bankruptcy Scriptural?
- How to Get Out of Debt. The Honest and Unvarnished Truth
- The Emotional Seven Stages of Debt
- Getting a Job After Bankruptcy
- Chapter 7 Bankruptcy – What is the Truth?
- Low Cost / Pro Bono Bankruptcy Resource Locator
- Bankruptcy Should Be the Last Resort Many Say. But That’s Just Not True
- The Ethical Considerations of Bankruptcy
- Is Bankruptcy Right For Me?
- 14 Reasons You Should Not Avoid Bankruptcy
- How to Really Discharge Your Student Loans in Bankruptcy. Many Can. But Never Try.
- Life After Bankruptcy: How to Quickly Have Great Credit and Dumb Mistakes to Avoid
- How to Find a Great Bankruptcy Attorney
- You Have Not Failed if You File Bankruptcy
- The Saddest Avoidable Mistake People Make When Getting Out of Debt
Life After Bankruptcy
- How Long After Bankruptcy Can I Buy a House?
- How to Rent a Lovely Home or Apartment After Bankruptcy
- Life After Bankruptcy – The Truth
- How to Easily Rebuild Your Credit and Have Good Credit Again After Bankruptcy
Filing Bankruptcy Yourself
Steve
Please post your responses and follow-up messages to me on this in the comments section below.
Big Hug!
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