Considering bankruptcy in the near future...
Hello all, I'm new here and it's my first post. I'm glad I've found this place, I don't have anyone (outside my husband) to talk to about this. I'm here because my husband and I are facing a posible ch 7 bankruptcy soon and I just need outside support persective.
I suppose a little background info is what I should start with: DH and I are still on the young side. I'm 25 and he's 26. Until recently DH had a good paying job in industrial construction (he'd been with the same company almost 8 years) and then he was layoff. I've bee a stay at home mom since I got pregnant with #1. I had a few months in saving lined up like I was suppose to but we're going to be out of that here soon. He gets unemployment but it doesn't cover everything. We're still short several hundred dollars. And the construction industry is not looking very good right now. I'd get a job if I could but no one will hire me because I'm 35 weeks pregnant with #3. We bought a house almost 3 years ago, it was below what we could afford and because we did a modifaction will be difficult to get. We have two vehicles, one was new for work and the other was slightly used but again we bought within our means. *sighs* Total with everything we owe about 100,000. So we didn't over spend, I planned for a layoff but the economy tanked. I feel like we did everything right and are being punished for it.
Right now we are current on everything...at least until January maybe Febuary but I don't want to "waste" money if we'll be filing. We spoke with a bankrupcty lawyer and he said we'd be good canidates. I've gone around and around and it's the only thing I can come up with that makes much sense in the long term (I've considered forclosure, repossession, ch13 but all come back to the posibility that we might not be able to make ends meet even with a new job or jobs with the economy. And in the end we'd still have to file. DH's regular job payed as much as two.) Right now we can save the money for a bankruptcy because of the unemployment (you know if we stop paying almost everything but the utilities and food). But next time who knows. Construction jobs are usually short and most of the time each one is with another company (we had been very lucky to find one that transfered it's employees), so we prolly wouldn't get unemployment and then we'd be completely up the creek with out a paddle. *sigh*
Right now I guess I'm just looking for some direction, some words of encouragement that we're going to be okay finanially when this is all over, some sympathy too, and a little advice...Basically anything you thing might help.
I suppose a little background info is what I should start with: DH and I are still on the young side. I'm 25 and he's 26. Until recently DH had a good paying job in industrial construction (he'd been with the same company almost 8 years) and then he was layoff. I've bee a stay at home mom since I got pregnant with #1. I had a few months in saving lined up like I was suppose to but we're going to be out of that here soon. He gets unemployment but it doesn't cover everything. We're still short several hundred dollars. And the construction industry is not looking very good right now. I'd get a job if I could but no one will hire me because I'm 35 weeks pregnant with #3. We bought a house almost 3 years ago, it was below what we could afford and because we did a modifaction will be difficult to get. We have two vehicles, one was new for work and the other was slightly used but again we bought within our means. *sighs* Total with everything we owe about 100,000. So we didn't over spend, I planned for a layoff but the economy tanked. I feel like we did everything right and are being punished for it.
Right now we are current on everything...at least until January maybe Febuary but I don't want to "waste" money if we'll be filing. We spoke with a bankrupcty lawyer and he said we'd be good canidates. I've gone around and around and it's the only thing I can come up with that makes much sense in the long term (I've considered forclosure, repossession, ch13 but all come back to the posibility that we might not be able to make ends meet even with a new job or jobs with the economy. And in the end we'd still have to file. DH's regular job payed as much as two.) Right now we can save the money for a bankruptcy because of the unemployment (you know if we stop paying almost everything but the utilities and food). But next time who knows. Construction jobs are usually short and most of the time each one is with another company (we had been very lucky to find one that transfered it's employees), so we prolly wouldn't get unemployment and then we'd be completely up the creek with out a paddle. *sigh*
Right now I guess I'm just looking for some direction, some words of encouragement that we're going to be okay finanially when this is all over, some sympathy too, and a little advice...Basically anything you thing might help.
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