12,000 debt @ $12/hr in Illinois

[HHM]

Your debt to income is 50% (roughly $24K in annual income, and $12K debt), this is a no brainer, file BK-7. You need every extra penny to live and save. No point wasting it on paying debt.

[12000debt]

Easily over 60% my debt went to charity. The remainder is basic help over the years......gas/electricity/phone/auto insurance/auto repairs etc.

No vacations.........simply no frills.

[catleg]

Can you live on your cash income? Guess you will have to, soon.
A clean quick bankruptcy (from a starting point of being on-time with everyone) will get your credit back in 1-2 years.
If you stop paying and drag it out it will take longer, and stress you out.
I agree the gambling is a stupid hobby, and believe me I've been there done that.
Used to be I couldn't walk out of a casino with money in my pocket...any money.
It was a side effect of a drug I was taking (rx from a doctor of course).
But living a cash life without looking over your shoulder is a much happier stress free life.
I tried GA...but in the end I had to fix the problem in my life that was causing the gambling...are you bored? unhappy?
Do something with animals instead.

[12000debt]

Can you live on your cash income? Guess you will have to, soon.
A clean quick bankruptcy (from a starting point of being on-time with everyone) will get your credit back in 1-2 years.
If you stop paying and drag it out it will take longer, and stress you out.
I agree the gambling is a stupid hobby, and believe me I've been there done that.
Used to be I couldn't walk out of a casino with money in my pocket...any money.
It was a side effect of a drug I was taking (rx from a doctor of course).
But living a cash life without looking over your shoulder is a much happier stress free life.
I tried GA...but in the end I had to fix the problem in my life that was causing the gambling...are you bored? unhappy?
Do something with animals instead.

Thank you, and.........thanks to everyove who post their experiences.

I'll keep in touch.

[LadyInTheRed]

Do something with animals instead.

Yes, volunteer at an animal shelter or rescue organization.

Being heavy into animal charity started me to debt.

Easily over 60% my debt went to charity.

Just keep your money in your pocket!

[lotsahats]

In my very humble opinion, you'd be better off filing C7. $12,000 might seem like a pittly amount, but if you can only afford a minimal payment, you won't get it paid off in the foreseeable future.

Plus, there is no point to settlement, unless ALL of your creditors are willing to work with you, which is not always the case. Why give Creditor A $1,000, if the only way to get Creditor B off your back is with bankruptcy? Just the thought of trying to negotiate with ten different creditors makes me dizzy.

That's just my two cents.

[BankruptinNJ]

I share a 2 bedroom apartment with a long-time friend. She and I each pay 1/2 of costs.

I own 2 vehicles........both 20+ years old. Other than that, I own zilch.

I have a couple vices.........smoking and gambling. I used credit cards to fund about $300 last year into an ADW account. Nothing serious, just a little pleasure venture.

Both are huge money-wasters . . . get help for both of them. Not only for the money, but for your physical and mental health.

[12000debt]

On recommendation from a friend I saw a lawyer today.

Snooping around this forum certainly made me an educated participant............thanks to all of you.

Hired on the spot.........paid in full (reasonable, IMHO).

I got homework this weekend.

Again, thanks to everyone here.

I'll be in touch.

[12000debt]

Zero debt@$12/hour in Illinois.

Got my discharge papers today.

Many thanks to this forum.

[TheBajan]

congrats! It's good to hear back from you!

[ValleYum]

Happy Fresh Start to you!

[df04527]

Congrats!

[LadyInTheRed]

Congratulations!

[AngelinaCat]

CONGRATULATIONS!!! You are entitled to our patented Dance of Victory! Here you go:

http://www.youtube.com/watch?v=f9aA_fba_To&feature=related

[12000debt]

CONGRATULATIONS!!! You are entitled to our patented Dance of Victory! Here you go:

http://www.youtube.com/watch?v=f9aA_fba_To&feature=related

hehehehehehehehehehe

Thanks, gang!