I have gotten behind in mortgage vehicle and monthly payments. I have so many collection agencies contacting me that I don’t even know how far into debt I am. I have credit card debt that is above $10,000. My husband is laid off of work. I am being garnished . i just don’t know what to do anymore. the company I work for filed chapter 11 bankruptcy so don’t know from week to week if I will still have a job
My question is: Is filing for bankruptcy my only recourse.? We don’t wanna lose our home and we need our vehicles to get to work
First, before we can make a plan we need to know what the reality of the situation really is. Only armed with the facts you can make good choices.
I would suggest that you get a copy of your consolidated credit report to find out who and how much you really owe. I suspect that you’ll be surprised at how much you owe in total. But while that will be difficult to face, it will allow you to really come to terms about who and how much you really owe.
I don’t want you to lose your home either but that isn’t really up to you and me. It is determined by your income. If you don’t make enough to pay the regular payments due, even bankruptcy won’t let you keep those items.
If you’ve been garnished then this has been going on for a while now. This does not sound like a new situation but one that has been slowly deteriorating and now it is time to face it, once and for all, before it truly boxes you into a corner and leaves you unexpectedly homeless.