Need Advice Re: filing chapter 7

[mollymae]

I am new to this forum (just joined today). I have been unemployed for two
years with the exception of a few temporary jobs. I was a victim of downsizing. I drew the 26 weeks of unemployment and the week after that ran out I accepted a ten day temporary holiday job. The 10 day job caused me not to be eligible for the federal extensions because it opened a new quarter. NC has received and additional 40 wks. federal extension due to our high rate of unemployment which I was not eligible for because of that holiday job. During this time I have gone back to our tech. school trying to update as many skills as I can. I have applied for jobs but rarely get a response. I am 58 years old, no college, single and have no assets. I have had to cash in my 401K. During this time I have had to rely on credit cards to live on. I owe 21,000 on one and 5,000 on another. Will I have big problems filing a chap. 7 due to these balances. Any advice will be greatly appreciated. Thanks, Molly

[TEW]

nope no problem at all But I wouldn't file until i got a job.
The creditors can not get blood from a stone so I would wait.

[mollymae]

So far I have been making the minimum cc payments. I am just worried about the cash advances being used to live on. I live in NC if that makes any difference. BTW I am still using my CC for medical, dental etc. nothing extravagent. June 14 was my last cash advance 1,500.

[mollymae]

BTW do you think this is something I can handle myself. I have ordered the Nolo Book. I just don't understand if you can't pay your bills how are you supposed to afford an attorney.

[music12]

TEW is right, don't file until you have a job. you are relying on cc to live now, but once you file that will not be an option at all. you will be left only with the cash you can exempt. so keep making the minimum cc payments until you get on your feet, i.e. until you get a job.

while you may be able to handle it yourself (there are certainly successful pro se filers on this forum), since you are low income, you may be eligible for free legal advice from your local legal services. try them. you could call or visit their office. maybe they can help with the unemployment extensions too.

[aces67]

You shouldn't have any problems filing but I would wait until you have a job first and then file.

[OhioFiler]

You definitely need a source of income first. Living off cash advances won't last forever. When you are no longer able to live off cash advances then you stop paying those credit cards. You'll have to wait at least a year from that point before you can file bk.

[AngelinaCatHub]

At least you must wait 90 days and not use the CC's but all advisers above are right. Get a bit of work ahead. If you go pro se, you also can apply for a hardship forgiveness for the fees to file your bk. You are right in a way, you have to bk because you have no money, but then it takes money to bk. Almost an oxymoron. That Nolo book is good. The forms are in it so you can practice with your numbers. Stop paying the CC's as soon as you get a little work, and put that savings to your case. After all, in your new start, you will still need an income. 'Hub

[mollymae]

Thank you guys for your advice. There are 20 new jobs opening up within the next 2-3 weeks in which I have already applied and feel good about. The hourly pay is exactly half of that of my last job but it will be such a relief to have some money coming in. One of the above poster's said I would have to wait a year to file, why is that? Molly

[OhioFiler]

Thank you guys for your advice. There are 20 new jobs opening up within the next 2-3 weeks in which I have already applied and feel good about. The hourly pay is exactly half of that of my last job but it will be such a relief to have some money coming in. One of the above poster's said I would have to wait a year to file, why is that? Molly

I just want you to make sure you get far removed from those cash advances.

[music12]

i think 90 days is enough. a year is excessive.

[mollymae]

Thanks Music12 your reply made me feel better. This whole process is sooo nervewracking. Moly