Starting a new business as an LLC

[GoingDown]

I am sorry, I don't play sob stories and I don't respect "victim" mentality. If you are really trying to get your life back together, holding onto a bunch of crap vehicles (let's be honest, that is what they are) and using them as an excuse to do nothing is not going to get your life back together.

I get it, no one WANTS to file bankruptcy, but you need to step back and look at things objectively.

You know? Not everyone can afford to plop down $30,000 for a new car?

And perhaps these personal possessions have some sentimental value to them as well.

[LadyInTheRed]

You know? Not everyone can afford to plop down $30,000 for a new car?

And perhaps these personal possessions have some sentimental value to them as well.

Nobody suggested buying a new car. [Even if they were, there are many reliable cars you can buy for less than $30k.] The OP is deep in debt and worried about keeping 4 cars and 2 boats. I agree with HHM that the OP's prioirities are out of wack. If there is sentimental value in the cars or boats (which the trustee may not even want to deal with) and that is all that is keeping you from filing BK, take a photo of them to hang on the wall. The sentiment does not go away because the thing does.

When you are deep in debt and are having trouble finding work, you need to look at what you need, not what you want, regardless of the events that led you to your current situation.

[GoingDown]

Nobody suggested buying a new car. [Even if they were, there are many reliable cars you can buy for less than $30k.] The OP is deep in debt and worried about keeping 4 cars and 2 boats. I agree with HHM that the OP's prioirities are out of wack. If there is sentimental value in the cars or boats (which the trustee may not even want to deal with) and that is all that is keeping you from filing BK, take a photo of them to hang on the wall. The sentiment does not go away because the thing does.

When you are deep in debt and are having trouble finding work, you need to look at what you need, not what you want, regardless of the events that led you to your current situation.

Okay, but isn't the cheapest (and easiest) thing to do right now for this person simply to do nothing about the debts and look for work (maybe even try becoming self-employed) or some other form of income right now, and maybe file BK if and when they have something (like wages) to protect from creditors?

[justbroke]

Okay, but isn't the cheapest (and easiest) thing to do right now for this person simply to do nothing about the debts and look for work (maybe even try becoming self-employed) or some other form of income right now, and maybe file BK if and when they have something (like wages) to protect from creditors?

I believe it is true that the poster could just wait to be sued. HHM and LITR, however, mentioned a quality of life issue. That is, would you rather have all that stress gone now, or wait until it amounts to such a heavy burden that you become paralyzed by it?