straw broke camels back

[oregonpilot]

Hi All...want to thank everyone for the info. My SO says this is my new obsession.

Here's a little background.
59,divorced, self-employed, been hanging wallpaper for 30 some yrs. Last couple years income is down to 6-7k last year, 9k the yr before.
Using cards to keep myself and business afloat for last couple of years.
first late payment was in Dec (payment due on sunday made it on friday but too late in the day). They upped my payment from $202-$530 and rate from 2.9 to 29.9. Made one of those payment in Mar and just couldnt do it any longer. Subsequently...almost all other cards upped payments and rates. Trying to make payments of 1300. on income of 500.-900. a month. So. stopped paying all other cards in April.

Eye surgery payment from last summer put on cards.
3 months ago, had a dental emergency to the tune of $5500...put it on Carecredit. Came home feeling like a thief, liar, and cheat cuz i had no idea how i was going to pay it. Have been able to at least make minimum payments the last 2 months on it.

Live with SO and pay half utilities and all the food expenses instead of paying rent.

About 3 yrs ago he put my name on HIS home and decided a little over 2 yrs ago to take my name back off. Has since sold that home and we are in another home. He really wants to get married and get my name on the new home so if something happens to him i will not be living in my car.
I'm afraid to get married with all my debt. 69k and climbing as we speak.

I have had the phone book in front of me(looking at attorneys names) many times and just cant do it. Actually had phone in hand yesterday and dialed all but the last number and hung-up.

Basically have no assets cept my 2002 minivan worth 1300.
Have 20k in IRA 's that i almost cashed out to pay cards but know better now since reading this forum. thank U Thank U

Don't know if my name on his previous house 2+ yrs ago is BAD.

BTW...he filed BK a little over 30yrs ago and has a few cards but NEVER, NEVER carries any balance. He says he will never B a slave again. He had all the stuff...new cad every yr, house full of antiques, boat, airplane, and lost it ALL. Lives on Social security now.

Thanks for any ideas...you guys are great.

[MarkM]

I'd need some additional facts:
1) What is your SO's income? You sound like a good ch 7 candidate, but his income may put you beyond the limit.
2) Might your SO be willing to help establish you in a separate household for a limited period of time prior to filing for bankruptcy?
3) Are you making enough in the business to cover your overhead once you exclude the interest you are currently paying? At 7k per year, my guess is you may not be making any money when you take transportation costs to the job(s) in question into account?
4) Do you intend to keep working?

Bottom line -- you are way underwater. You need to talk to an attorney and get your issues resolved prior to getting your name on a house or on a marriage license.

[newbie2]

Hi All...want to thank everyone for the info. My SO says this is my new obsession.



Live with SO and pay half utilities and all the food expenses instead of paying rent.




BTW...he filed BK a little over 30yrs ago and has a few cards but NEVER, NEVER carries any balance. He says he will never B a slave again. He had all the stuff...new cad every yr, house full of antiques, boat, airplane, and lost it ALL. Lives on Social security now.

Thanks for any ideas...you guys are great.

You should be fine. Your SO lives on Social Security, so that sounds like there won't be any extra income in the household. The house that was sold was 2 years ago, so that should be fine also.

Please pick up the phone and dial a few attorneys. You won't feel better until you sit down with someone and are reassured. Good luck to you.

[oregonpilot]

Thanks...
his income with SS and a small retirement is about 20k per yr and my income of 7k is after my business expenses. Schedule C on 1040.
When i did the means test our total income was WAY below

[newbie2]

Thanks...
his income with SS and a small retirement is about 20k per yr and my income of 7k is after my business expenses. Schedule C on 1040.
When i did the means test our total income was WAY below

Then you should have no worries :-) Good luck, and pop in again if you have a moment to let us know how it went and how you're doing.

[oregonpilot]

Also...i love hanging wallpaper and hope to do it as long as i can climb my ladder. People give me hugs when i leave their homes...they say its strange hugging their contractor.

[oregonpilot]

MM & Newbie...thanks sooo much. That first intentional missed payment was torture. I walked around the house looking at the clock..thinking, i can still make that payment today. Then look at the clock half hr later saying the same thing. SO is in agony watching me.
Not sure what to do with making the CArecredit payment only. Its $179. a month so it puts it under the $600 for 90 day payment preferential.
Also. did the Google voice set up and changed my phone # for cards, the ones that still let me in.

[iv65536]

As for the means test, since you said that a lot of it was to keep your business afloat, the means test could be irrelevant in your case, if you can classify most of the debts as business debts.