Originally posted by Spider777
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New here and considering bk..I just have a few questions.
My husband is the only one working, I stay home with our baby. The majority of the debt is in his name, not joint. I have a bit in my name as well. Is it more beneficial to file joint (or do we -have- to?) or is it better for just him to file and keep trying to pay my debt down so one of us will have some credit in the event we need it?
my second question is probably answered somewhere else on this board, but I'm a little overwhelmed by all the threads so I'm hoping I can just ask here. Right now all of our debt is up to date with payments. We aren't behind on any. They're just all maxed and apr's are eating us alive. So we're drowning but breathing through a straw ;) Of course we would just stop paying everything..but how long after we stop do we actually go meet with a lawyer and begin the process of filing? We obviously don't want any judgments against us before we can file. I've heard it's 3-4 months before creditors will close the accounts and send to collections..do we wait until then?
Also..do we need bills for each account when going to a lawyer? We have two medical bills in collections (that we've been paying)..how do we present our creditors information and debt info?
Thanks in advance for any advice
My husband is the only one working, I stay home with our baby. The majority of the debt is in his name, not joint. I have a bit in my name as well. Is it more beneficial to file joint (or do we -have- to?) or is it better for just him to file and keep trying to pay my debt down so one of us will have some credit in the event we need it?
my second question is probably answered somewhere else on this board, but I'm a little overwhelmed by all the threads so I'm hoping I can just ask here. Right now all of our debt is up to date with payments. We aren't behind on any. They're just all maxed and apr's are eating us alive. So we're drowning but breathing through a straw ;) Of course we would just stop paying everything..but how long after we stop do we actually go meet with a lawyer and begin the process of filing? We obviously don't want any judgments against us before we can file. I've heard it's 3-4 months before creditors will close the accounts and send to collections..do we wait until then?
Also..do we need bills for each account when going to a lawyer? We have two medical bills in collections (that we've been paying)..how do we present our creditors information and debt info?
Thanks in advance for any advice
I would file joint and just be done with it. BK really passes quickly. Unless you are wanting to buy a house SOON, within a year you should still qualify for a car loan (a few years for a home loan in my experience). Make sure you have EVERY SINGLE bill or it wont be cleared and you will still have to pay it (kinda sucky when you could have had a clean slate). STOP paying your bills and SAVE for an attorney for the BK. Just tell the creditors you are filing. Its a big scary thing but trust me...you can finally breathe again...I'm about to repeat file (gave up a very stressful high paying job for a lower paying one that makes me not hate my life. Now I have debt but I don't hate my life!). TRUST ME. You will be OK.
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