Well we have decided that we are going to file chapter 7 we see no way out of this, this has been getting higher and higher for the past 10 years. We where going to stay and pay but my wife just found out that her mom has breast cancer. My wife has been wanting to move back to where she is from (only reason we are here is jobs no family or anything here and we now have a 2 year old), so we are going to do that and let the house go back, it's probably 20k upside down that's with the 30k down payment we put down about 4 years ago. We are still up to date on all of our bills but i don't know for how long. I work full time w-2 but started a sole prop about 8 months ago and used a lot of cash advance checks to start it up with. Really thought the business was going to make money but so far hasn't turned a profit which might be a good thing after all.
numbers 100k+ cc this is mostly consumer not non-consumer
82k gross last year between the 2 of us
using the means test we pass by -152 DMI (Median for LA is 53,271)
350 car note
475 truck note (high interest rate 25% TFC hope i can get it lowered)
have a car we are about to sell worth 4-5k, needs 500-1000 worth of work to it (using money from it towards moving $ moving truck etc first and last month rent deposits)
here is where it's about to get interesting. With what we have in the bank and with our income right now, as long as we don't get rate jacked, we can pay probably 7 months. I want to put as much time as possible between the CA
My wife will probably have a job offer next month so we will need to rent there it will probably be a cut in pay, but as of now i don't have a job there yet. If we rent there we are going to have to stop paying on the house. So i guess that will give me 4 months before they take the house, that i can still work here and find something there. I'm sure the CC will probably jack the rate when they see the late on the house.
numbers 100k+ cc this is mostly consumer not non-consumer
82k gross last year between the 2 of us
using the means test we pass by -152 DMI (Median for LA is 53,271)
350 car note
475 truck note (high interest rate 25% TFC hope i can get it lowered)
have a car we are about to sell worth 4-5k, needs 500-1000 worth of work to it (using money from it towards moving $ moving truck etc first and last month rent deposits)
here is where it's about to get interesting. With what we have in the bank and with our income right now, as long as we don't get rate jacked, we can pay probably 7 months. I want to put as much time as possible between the CA
My wife will probably have a job offer next month so we will need to rent there it will probably be a cut in pay, but as of now i don't have a job there yet. If we rent there we are going to have to stop paying on the house. So i guess that will give me 4 months before they take the house, that i can still work here and find something there. I'm sure the CC will probably jack the rate when they see the late on the house.
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