Hi everyone...My husband and I are in a financial mess. We are 23 and 25 with a one year old. We had a good job making 52k in Texas and had a mortgage on a house we bought when we were 18. We have never been late or missed a payment.
We decided to start our own business and move to Oklahoma. We put the house up for sale in Texas and bought a house in Oklahoma(30k mobile home on land) We put all our retirment money and all our savings into the business and lost it. There is much more to the story but we joined a class action lawsuit against the people we "worked for"
We then tried to get the old job back and they gave it to him but in another state. So now we moved to Kansas and are working here.We have lived on credit cards and paid bills with them as the salary does not pay the bills.
We have talked about bankruptcy on and off for the past 6 months but decided to suck it up and work our butts off. I called credit card people but since we have not been late they cannot do anything to help us other than turn the account off. They are still getting overlimit fees, late fees ect.
We have our first house in Texas for sale...just heard from the realtor today that he thinks there is no way anyone will finance it since he has been trying for almost a year. Lots of people wanting it..but no banks will take the chance with it being a singlewide mobile home on some land. The home loan payoff is 22k and the land is 15k. Realtor wants us to owner finance it..we are considering it but want to sell it outright to get the extra money to pay off the credit cards but realize it probably is not going to sell
We have our second house that we bought for 30k. Mobile on land. We have someone who says she wants to buy it but not sure how that would go. We owe 15k on it. So we would make 15k on it if we sold it.
We have a 2008 vehicle that went down in value tremendously with it being a SUV. It has 40k miles on it, 30k is what we bought it for, worth 14k(car lot told us this)
We have 32k in credit cards at 650.00 a month in minimum payments.
We are not late on anything YET. But we are out of money. Our bills ad up to be 4100 a month and we bring home about 3600.
We are desperate for something to happen. The credit cards are just piling up and we called and tried but they will not work with us until we are 3 or more months late on payments.
We also have the "work truck" that we bought for 11k with credit cards(0%apr) and it is for sale. No calls on it though and it is depreciating everyday....
We have probably 1000 worth of furniture
probably 2000 worth of clothes..if even
and we have tons of guns that are passed down in the family...and this is a big issue with filing bankruptcy because we dont want to get rid of the guns that have been passed down to us.
Should we file or just continue to be late and let everything go to collections?
We decided to start our own business and move to Oklahoma. We put the house up for sale in Texas and bought a house in Oklahoma(30k mobile home on land) We put all our retirment money and all our savings into the business and lost it. There is much more to the story but we joined a class action lawsuit against the people we "worked for"
We then tried to get the old job back and they gave it to him but in another state. So now we moved to Kansas and are working here.We have lived on credit cards and paid bills with them as the salary does not pay the bills.
We have talked about bankruptcy on and off for the past 6 months but decided to suck it up and work our butts off. I called credit card people but since we have not been late they cannot do anything to help us other than turn the account off. They are still getting overlimit fees, late fees ect.
We have our first house in Texas for sale...just heard from the realtor today that he thinks there is no way anyone will finance it since he has been trying for almost a year. Lots of people wanting it..but no banks will take the chance with it being a singlewide mobile home on some land. The home loan payoff is 22k and the land is 15k. Realtor wants us to owner finance it..we are considering it but want to sell it outright to get the extra money to pay off the credit cards but realize it probably is not going to sell
We have our second house that we bought for 30k. Mobile on land. We have someone who says she wants to buy it but not sure how that would go. We owe 15k on it. So we would make 15k on it if we sold it.
We have a 2008 vehicle that went down in value tremendously with it being a SUV. It has 40k miles on it, 30k is what we bought it for, worth 14k(car lot told us this)
We have 32k in credit cards at 650.00 a month in minimum payments.
We are not late on anything YET. But we are out of money. Our bills ad up to be 4100 a month and we bring home about 3600.
We are desperate for something to happen. The credit cards are just piling up and we called and tried but they will not work with us until we are 3 or more months late on payments.
We also have the "work truck" that we bought for 11k with credit cards(0%apr) and it is for sale. No calls on it though and it is depreciating everyday....
We have probably 1000 worth of furniture
probably 2000 worth of clothes..if even
and we have tons of guns that are passed down in the family...and this is a big issue with filing bankruptcy because we dont want to get rid of the guns that have been passed down to us.
Should we file or just continue to be late and let everything go to collections?
Bankruptcy Wizard
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