Need Bankruptcy possibility help!!

[kajeno2001]

Well, just in credit card debt and a consolidation loan(2 years ago) we pay over 1200 a month. We do have a 2.5 year old and I just lost my job. We do not want to lose our house and 2 vehicles. We were already in the red 150 bucks every month with my job and now , well you can imagine. I do have student loans which I know they are not included. So I guess my question/ support needed is:

we were denied by a credit relief company because just our credit card/loan debt was too high. Should I swallow my pride and move forward with Bankruptcy.

Have called all creditors and they could care less. No assistance. I want my son to not remember this and teach him about money. my husband nor I were ever taught what we know now.

PLEASE HELP!!

[Pjmax]

Hi Kajeno, welcome to the forum. You've come to the right place. I'm sure you are in a panic over just losing your job. Try not to make any rash decisions right now, you need a clear head to think things through.

If you could give a little more info, the wise folks here can better advise you. What is your total income, now and before layoff? Total credit card and loan debt (not including student loans?) House and cars, what is owed, and what are they worth? What are your monthly expenses?

Most people who sign up for the credit consolidation or debt management company programs, regret it, and usually end up here anyway. They are often more harmful than beneficial, although there are exceptions of course.

Get some numbers together, and post them here.

[AngelinaCat]

Hi Kajeno: Welcome to the Forum.

Pjmax has given you some excellent advice. We do need a bit of information from ou about your situation, so that the members can best advise you.

Do NOT panic! I know the world looks bleak to you now, but it is not. I will also say that filing BK is nothing to be ashamed of. It is a business decision that you have to make in order to best care for your family, especially the little one...

[pamkev]

Welcome and we all have been where you are. BK is nothing to been ashamed about many famous people have done it and lived to be very successful afterwards.

Pam

[angel7821]

Creditors could care less huh? I say stick it to em!!!

[bcohen]

Without details, such as the amount and type of each debt, the amount of your family's income, and the amounts of necessary living expenses, we cannot advise you if bankruptcy will help or not. Bankruptcy does not discharge certain kinds of debts, nor does it solve the problem of not having enough income to pay your living expenses going forward. Remember, that if you file for bankruptcy when bankruptcy is NOT in your best interest, you can end up far WORSE off than if you hadn't filed in the first place!

[frogger]

Creditors could care less huh? I say stick it to em!!!

Be careful. Karma is always lurking around the corner........

[trock]

It's most difficult to decide to file, but now personally I think it was the best decision I've made in a long time. I'm a sole parent (husband passed away) and have been struggling to make ends meet for a few years now. Just had my creditor meeting last week and now awaiting discharge. I already feel the relief. You will too. Hang in there!