Help! I'm on the fence....

[rosier2000]

What is the name of your state? Florida. Homestead Exemption and head of household protect me some. But...
Is chapter 7 going to to be the best option for me?
I know time is running out for bankruptcy because of the change in the laws. I have been trying to fight my way out of major debt from divorce for 7 years. I have lost ground last year as I could no longer keep paying the 28% fees CC where charging. I have 14K in CC debt all in my name but half is my ex’s which he did not pay. Plus 26K in student loan debt. I know the SL I’m stuck with no matter what. I managed to get all other debt except mortgage paid off. I have exemptions that cover just about everything I own. I feel that I can’t hold on much longer and the deadline is looming. I have one judgement pending and two others theatining. Any Advice?

 

[Ladynred]

Yeah.. get off the fence !!!

You've got 2 judgments pending, what are you waiting for ?? Those will go on your credit reports and sit there like warts for 7 MORE years -- actually, judgments CAN stay on MUCH longer- for the term of the unpaid judgment (but most don't). You want 7+ MORE years of crappy credit ?? Judgments in FL are good for 20 years and they can keep pursuing you for that entire time. Your wages and home are not the only targets.

 

[rosier2000]

Thanks

I guess I needed that push. I've worked very hard to stay above the water mark.

 

[Ladynred]

Yeah.. been there, done that. Treading water gets REAL tiring after a while.

Unless something drastic changes in your ability to pay, like a huge increase in salary or winning the lottery, sounds like its time to go for the life raft. Its actually easier to recover and rebuild after a bankruptcy that it is to keep struggling with the debt death sprial.

 

[Who's Liable?]

There's no shame in throwing in the towel...
just make sure you've learned from it and continue on...

 

[rosier2000]

Thanks

Glad to know I'm not alone in this. I've never had credit problems before, and this will NEVER happen again. I've been reading a lot of these posts and I admire how helpful you all are to an amazing array of people and assorted circumstances. Just want you to know you are very appreciated!