Should we file?
Date: Wed, 12/02/2009 - 08:16
I've been going back and forth on whether or not DH and I should file for bankruptcy. Maybe some outside opinions will help.
1. DH is a stay-at-home-dad and I make just under 40K and we live in VA near Washington DC. Even though DH has looked for a job for the last year, he's been unsuccessful so we make it work on my income.
2. We owe a deficiency on a repoed car of about $8k
3. We have two credit cards where the debt is about $4k total
4. I owe my school $5k for a semester I didn't finish where they had to pay the student loans back
5. We owe about another 5k in miscellaneous debts including hospital bills, etc.
6. We have about $30k in student loans (total), but I know that never counts for bankruptcy.
So, I guess total, our debt is $22k (not counting student loans) and we're dangerously close to being sued and I think they can even garnish your wages if they win, right? So, should we just file and start over?
1. DH is a stay-at-home-dad and I make just under 40K and we live in VA near Washington DC. Even though DH has looked for a job for the last year, he's been unsuccessful so we make it work on my income.
2. We owe a deficiency on a repoed car of about $8k
3. We have two credit cards where the debt is about $4k total
4. I owe my school $5k for a semester I didn't finish where they had to pay the student loans back
5. We owe about another 5k in miscellaneous debts including hospital bills, etc.
6. We have about $30k in student loans (total), but I know that never counts for bankruptcy.
So, I guess total, our debt is $22k (not counting student loans) and we're dangerously close to being sued and I think they can even garnish your wages if they win, right? So, should we just file and start over?
I should add that I've already checked our credit scores, and th
I should add that I've already checked our credit scores, and they are both in the low 500s (like 515ish)