help...new body... mad, and hating myself...

[seamoonil]

ok,

I have about $35000 in credit card debt:

citi(2k), Boa(7k), usbank(11k), discorver(4k), macy's(700), target(400), chase(2k), wamu(500), USAA(8k). GE(800)

I am paying around 1k min. payment never miss a payment.

my income: $19000 per year.

I make thru the month with a part time job and student loans.(but now cc rates are getting out of my controll) It is killling me, eating my soul and I start to have stomach pains.

I misrepresented all my cc applications. I have always put the $70,000 year income. Became a fun game to me. I didn't believe that they would give money away like that with no prof of income.

wamu, I havent use for over 2 months, boa for over 3 months, usbank nothing more than $10 a month for the last 3 months, chase for over 2 months, target for over 2 months, citi for over 2 months, discover I increased my balance 2k in the last 2 months for the hollidays, macys use on hollidays; usaa I am using for food, gas... I do have my car insurance with usaa($110) also.

I do have my car payment $280 per month that I would like to keep it.

My personal bank is local columbia state bank. none of those big banks.

I cannot live like that anymore it's eating bones.

I am thinking stoping paying those credit cards due next week; with big balances that I haven't use for over 2 months: BoA, Usbank, citi.

If I stop paying 3 cards, that would effect my other credit rates and car insurance amount per month?

I would defenely love to file for bk and run away from my mess.


I hate myself.....


any advice?

[BobMango]

Yes, first off stop hating yourself. It's self-destructive and accomplishes nothing.

Secondly, you need to set up some free consults with some bankruptcy attorneys.

As you have discovered, your income is not a part of your credit profile from the CRAs. Credit is not granted on income, but credit history as the credit grantor views it. You may have a problem with some of those creditors but since you have been paying on them the likelihood of an adversary proceeding is probably low. My advice would be to tell your attorney about your income "stretch" but offer that information to no one else. If they ask you have to answer truthfully, but the odds are slim that they will show at your 341.

As for the car, do you have the loan with a credit union that you also have a credit card with (for example, usaa?) If so you may have some cross collateralization issues. If not, then you may be able to do a ride-through. Reaffirmation may be tough with that income level. Your schedule I and J should result in a positive disposable monthly income that will support the car payment.

So take a deep breath and start looking for an attorney. There is a ton of good advice on this forum so take advantage of what you can learn here as well.

Good luck.

[Flamingo]

May I add that filing BK is not going to solve your cash flow issues. You are used to living off the credit cards and just making minimum payments. BK takes away the debt but it doesn't take away other issues that will stare you right in the face. You will no longer have those cards to survive off of and will have to figure out a source of addidtional income after you are discharged. You will need to learn to live on a cash only basis which is not going to be easy on your income unless you are living with family who may be helping with some of your expenses. Best of luck to you...

[seamoonil]

I need help...please read it...

Yes, first off stop hating yourself. It's self-destructive and accomplishes nothing.

Secondly, you need to set up some free consults with some bankruptcy attorneys.

As you have discovered, your income is not a part of your credit profile from the CRAs. Credit is not granted on income, but credit history as the credit grantor views it. You may have a problem with some of those creditors but since you have been paying on them the likelihood of an adversary proceeding is probably low. My advice would be to tell your attorney about your income "stretch" but offer that information to no one else. If they ask you have to answer truthfully, but the odds are slim that they will show at your 341.

As for the car, do you have the loan with a credit union that you also have a credit card with (for example, usaa?) If so you may have some cross collateralization issues. If not, then you may be able to do a ride-through. Reaffirmation may be tough with that income level. Your schedule I and J should result in a positive disposable monthly income that will support the car payment.

So take a deep breath and start looking for an attorney. There is a ton of good advice on this forum so take advantage of what you can learn here as well.

Good luck.

My car loan is with Qualstar Credit Union 6,4%fix.

Usaa, I have a membership that include car insurance($110 per month, a savings with $10 in, and chicking with $10 in. and a Platinum master card(cc debt 7k) and I use the usaa ccard very often during last holidays until now, for food, gas and pharmacy.

My income is around $900 per month(part-time job) and the rest of my bills I pay with grants and students loans.
I am full time student. I can survive with that, without this crazy cc rates. I can't deal with credit cards anymore, I am depressed, anxious, overhelmed, and haven't sleep no more that 3 hours per day for the last 3 months. I also lost 40 pounds in the last 3 months.

I need to make a decision until next week: should I stop paying my usbank cc $340, Boa $200, citi $80 since I haven't use them for the last 2 months or more?

the others cc I think I need to keep paying because I have use them in the last month.

If I stop paying 3 cards out my 10 acounts what could happen with the other acounts?
this could effect my car insurance payiment?

help please!!!

thank you!!!

[frogger]

Pay your student loan, your car payment, keep a roof over your head, and food on the table. Don't pay anything that is not a secured debt.

See if you can live on the money you have coming in by doing this. If so, then look at filing for bk. If not, continue to adjust your lifestyle until you can afford it.

Then, and only then, should you consider bk.

[keepmine]

If I stop paying 3 cards out my 10 acounts what could happen with the other acounts?
this could effect my car insurance payiment?

Just stop paying all debt you wish to discharge. Your other creditors will likely close your cards or reduce your credit limits to the balance owed once they see you defaulted on other cards.

None of us can speak for your insurance company. Some companies will jack your rates and others don't.

[BCA2009]

DO NOT USE STUDENT LOAN FUNDS TO PAY CREDIT CARD PAYMENTS!!!! Do some searches on student loan debts on this forum. They will haunt you for many years. Only borrow the minimum you need to pay for college and if you are single with no dependents to support, seriously consider paying cash for you education by working more hours and taking less classes per semester, even if it means stretching out education for a few more years. Honestly, my college years were the best of my life. I had no money but also no responsibilites and had lots of fun and great memories. Don't rush thru it and don't cripple your future by incurring debts that could take decades to pay off.

[seamoonil]

I feel so seek; I cannot sleep anymore!

And one they I thouhgt credit card means freedom.

OMG ! I feel my organs are dying; I feel so seek!!!!


Thank you guys!

PS. what about the pre-bk counsouiling;

how soon can I file BK after I am done with the pre-bk consouling?

Am I gonna lose everything: laptop, guitar, pants, t-shirts, earings, eyeglasses?

I do not have any assets.

How the attorney look at a client that misrepresented his credit card application?

[OhioFiler]

I feel so seek; I cannot sleep anymore!

And one they I thouhgt credit card means freedom.

OMG ! I feel my organs are dying; I feel so seek!!!!


Thank you guys!

PS. what about the pre-bk counsouiling;

how soon can I file BK after I am done with the pre-bk consouling?

Am I gonna lose everything: laptop, guitar, pants, t-shirts, earings, eyeglasses?

I do not have any assets.

How the attorney look at a client that misrepresented his credit card application?

Don't worry too much about your misrepresentation on the credit apps. It happens all the time.

Your pants and t-shirts are exempt.

Are you a U.S. citizen? I ask only because you have an obvious "foreign accent" in your writing. I am curious only to the extent I'm not familiar enough with the bankruptcy code to know if residence status has any bearing on ability to file.

[LadyInTheRed]

How the attorney look at a client that misrepresented his credit card application?

An attorney is there to help you, not judge you. Don't worry, he/she has seen it all before and would rather know all relevant facts up front instead of being surprised by them later.

If you feel like an attorney is being judgmental during an initial consult, that's not the right attorney for you.

[nc73]

you don't need to be a citizen to file

[seamoonil]

anything else? please...this is crazy!!!!!

can you help me telling me what are the steps, that I need to take before I file? For what you see on thread.

Can I stop paying the credit cards any time or do I need to wait 90 days from the last time use my credit card? And do I need to contact them first or should I just stop and wait until is time to file?

and about prebk-counsiling; how soon can I file after the pre-bk consuling?

How long will take to the collectors start calling my work, friends and roomates after they I am not gonna pay?

Thank you !

I am too anxious; scared and seek!!

I have to see a dr. I am too anxoius, I don't sleep anymore!

[tigergem]

Step one. BREATHE. Nobody is coming after you. EXHALE.

Step two. Stop paying your credit cards. Period. Do not call them. Do not write them letters.

Step three. Find a good attorney and tell him everything. He will also tell you where to take your pre-bk counseling.

Step four. Stop worrying about your car insurance. It might go up or it might not, but it isn't likely to go up that much.

There is absolutely no point in making yourself sick over credit and debt. The creditors certainly do not care about you. Why would you lose sleep over them? Go get a cheeseburger and chocolate shake and get some sleep.

[seamoonil]

man...

Step one. BREATHE. Nobody is coming after you. EXHALE.

Step two. Stop paying your credit cards. Period. Do not call them. Do not write them letters.

Step three. Find a good attorney and tell him everything. He will also tell you where to take your pre-bk counseling.

Step four. Stop worrying about your car insurance. It might go up or it might not, but it isn't likely to go up that much.

There is absolutely no point in making yourself sick over credit and debt. The creditors certainly do not care about you. Why would you lose sleep over them? Go get a cheeseburger and chocolate shake and get some sleep.

when you said step two: can I stop even those credit cards that I use a mounth ago? I thought I only could stop paying if havent use for the past 90 days.

[OhioFiler]

when you said step two: can I stop even those credit cards that I use a mounth ago? I thought I only could stop paying if havent use for the past 90 days.

You stop paying when you decide you are going to file bankruptcy with the exception that you used the card to make luxury purchases.