Help with bankruptcy!
Technically it is possible to file BK without your spouse if you
Technically it is possible to file BK without your spouse if you're not residing in any of the community property states of USA, where your filing bankruptcy will also affect your spouse's credit.
Also his income may play at role at the time of qualifying for bankruptcy.
I would rather suggest that consulting a legal professional will be beneficial for you. Bankruptcy is an important financial decision and shouldn't be taken in haste.
Help with BK
My husband was "proud" too until the uh-oh moment came and we had to choose between putting food on our table or pay the credit card minimums. Years later we are now in the process of filing BK-it is not the end of the world. Especially not these days when gas alone is breaking everyone!
Have you considered debt settlement for your debt? That was my #1 option but we are limited on $$$ and can't save to settle. If you could come up with funds or have hubby loan you some out of his savings-you could definitely do it. If not-talk to a BK lawyer and go over your options. There are many ways you can get out of this.
Good luck!
Girlndebt has certainly made a very good point. You mustn't cons
Girlndebt has certainly made a very good point. You mustn't consider bankruptcy till you have other alternatives available to you.
You can consider the option of settlement. Try negotiating it with your lenders. They'll be more interested in a settlement offer if you state that the other alternative alvailable to you is filing bankruptcy. You can also try working out a monthly repayment plan with them.
Bankruptcy can only save your skin against the legal actions, but its not actually discharging you from repaying the loans.
Bankruptcy will affect your credit score significantly and it wi
Bankruptcy will affect your credit score significantly and it will remain in your credit report for 7-10 years. In fact you will face hardship in accessing loan for 2 to 3 years after becoming bankrupt. So, please try to avoid bankruptcy.
In your financial position you can also go for debt settlement or debt management Program (dmp) instead of Bankruptcy.
Debt Settlement negotiator will help you to make a reduced payment (anything between 40 to 60%) to your creditors. In fact, in such an arrangement you will make a lump sum payment to your settlement and in turn he/she will pay the negotiated amount to your different creditors.
DMP will help you to manage your debt in an efficient manner by reducing your apr and consequently monthly payments. In fact, you only have to do a single monthly payment to your credit counselor (agency or law firm) and in turn he/she will distribute it among your different creditors.
You can also get Free Counseling on your debt from this community????????s financial experts.