80 k in debt

i would

john516 -

welcome to the forums! You'll find many people here that have been where you are, or in some similar situation, and we're here to help.

The best thing you can do is to first go to a credit counseling agency, like GreenPath. They will tell you whether they can help you or not. If they can't, then your next option may be to consider bankruptcy.

If you end up deciding to file bankruptcy, you need to sit down and write down all the questions you have about your situation and what will happen if you file. Then set up an initial consultation with a bankruptcy attorney to see if that is the right move for you to make. They will be able to answer all your questions in the first consultation, and the first consultation is offered free by many attorneys. They will also help you determine what chapter of bankruptcy you need to file, based on your needs and what you are willing to do towards paying back your debts.

Chapter 7 bankruptcy wipes out your debts, but it also allows the Trustee to sell some of your assets to pay back your debts before discharging them. (Don't worry, most people are able to keep their house and car, provided they don't own a mansion and a Rolls Royce!). Chapter 13 bankruptcy is a debt repayment plan that lasts 3-5 years and pays back a portion of your debts before discharging the remainder.

I hope this information helps. If you have any more questions, feel free to post them!

even if my car is 1999 the internet bluebook syas its value is 5000.00 will they take it ? i NEED IT!

Each state has their own exemptions. Here is a great site to use to check yours http://www.bankruptcyaction.com/questions.htm#Exemptions

sixxgurl is exactly right - each state has their own exemptions and that's what determines what you can keep.

Chances are very good (like I said above) that you can keep your car. Don't panic before sitting down with the attorney for that first consultation - this is one of the questions you need to ask them.