worried about job loss?

[jribe]

Okay.. I work in Banking and things have been... well, a little unstable to say the least.

I've been with my employer for 3 years, and make good money. But it seems the way the economy is going they may either layoff or start firing people.

We were planning on filing in May; my husband is already out of work.

We just stopped paying the cc's and cars this month.

Should we wait until we get sued to file?

We don't own a house, so i don't know what else would make us "judgement proof" (can anyone offer more explanation on that?)

I guess i'm just a little stressed. Thanks for listening!

[keepmine]

I'd not file until your finances get stabilized. The important thing now is, a job for your husband and some sense of job security for yourself. The debt really isn't the pressing issue here. File when the time is right-not when you feel paniced.

[nervousss]

I don't think you have to wait to file, especially with the threat of soon having no income to file with looming over you. If you have already carefully considered it and know why and when you need to, make a few consultations with some lawyers and talk it over with them.

It's up to you!

[bcvw]

We had our 341 meeting earlier this month, were not recommended for confirmation (still trying to figure that out), and the very next day I was notified our business location is closing in June. My end date is May 29th. That means I will have to go back and amend my plan (hopefully we are confirmed by then!) if and when I find another job when my severance runs out at the end of July.

I am actively looking for a job now just to make sure I have no gaps in employment.

[Pizza]

Okay.. I work in Banking and things have been... well, a little unstable to say the least.

I've been with my employer for 3 years, and make good money. But it seems the way the economy is going they may either layoff or start firing people.

We were planning on filing in May; my husband is already out of work.

We just stopped paying the cc's and cars this month.

Should we wait until we get sued to file?

We don't own a house, so i don't know what else would make us "judgement proof" (can anyone offer more explanation on that?)

I guess i'm just a little stressed. Thanks for listening!

With only one job loss, BK would sound plausable, but with no income at all, the debts should take a back seat to finding a job, just to keep a roof over your heads and food on the table. After either of you find a job that will accomplish the basic needs of living, it sounds like the writing is on the walls for BK if the debts are large enough to warrant it.

Good luck with the job search(es). The economy is terrible right now, but it will bottom out - by most analysts' calculations in the second half of the year. Try to hang onto your job by giving your best job performance. It doesn't sound like much, but at least you can get a few recommondations from your employer.

[FijiTime]

Nobody can tell you when you should actually file, everyone is different...

I fought off the idea of BK for almost 10 years until finally recognizing that things weren't going to get any better unless I pulled the trigger and went down the BK path. In the years prior to filing I never missed a payment until a month or two before I actually filed and I was spending almost everything I made to stay on top of the bills I racked up before that. I wouldn't have been so opposed to bankruptcy if I could change the past. I would have done it in the beginning of my troubles if I could go back!

The day I finally retained an attorney was the changing point in my life. I'm much less stressed than I can ever remember being! I get paid today, and it's an amazing feeling to have some of my paycheck available instead of already spent before it arrives. I'm still in the middle of the process, but things are going much smoother than I imagined. It's almost too easy... <<knocks on wood>>

[mkuki]

...
The day I finally retained an attorney was the changing point in my life. I'm much less stressed than I can ever remember being! I get paid today, and it's an amazing feeling to have some of my paycheck available instead of already spent before it arrives. I'm still in the middle of the process, but things are going much smoother than I imagined. It's almost too easy... <<knocks on wood>>

You can say that again....LOL!! I felt the same way. If my attorney was a woman, I would have hugged her....