Hi Everyone!
I've been reading the forum for the past week, and I decided to join. Bankruptcy for my husband and I could be a year or more down the road due to some bad financial decisions on our end. Like many others, I lost my job in March 2020 when Covid hit, but was okay for a few months with unemployment. I then got really sick and hubby's insurance from work is awful. Hubby refinanced the house to help pay for medical bills, and we still have thousands worth. We took money out of our retirement to help pay bills and live on. I regret that now since reading more about bankruptcy protection, but it's been hard living on one income. I'm finally back to work as of last month, and we have much better health insurance through my job. Hubby's health is starting to decline a bit due to a work injury from years ago. He's had a couple of surgeries over the years, but he may partially retire in the fall of 2023. He would still work part-time, but he would not be at full retirement age. We're still discussing it, but you can tell how bad he hurts. He will also start getting a small monthly pension of less than $600 starting next month.
It's also so stressful and confusing. I did speak with a bankruptcy attorney but wasn't really pleased. Somehow, we automatically qualified for this or that without really discussing the financials. I've learned a lot just from reading the site. We want to downsize after he possibly retires next year. Our house is older, but I'm not on the mortgage. He needs work but we have a couple of acres here. It's hard to keep up with. The bones are good, but the furnace is at least 30 years old. It still works fine though as we properly maintain it. But other things are going to be adding up as well. I guess we are exploring our options right now. I don't know if we will file jointly or just hubby after he retires in case the house doesn't sell for what we need. We were always both kind of bad with money. We were getting better with saving and budgeting before Covid hit and my health declined. I guess we made some really bad financial decisions that led us here. I hope that all makes sense, and I look forward to being part of the community.
I've been reading the forum for the past week, and I decided to join. Bankruptcy for my husband and I could be a year or more down the road due to some bad financial decisions on our end. Like many others, I lost my job in March 2020 when Covid hit, but was okay for a few months with unemployment. I then got really sick and hubby's insurance from work is awful. Hubby refinanced the house to help pay for medical bills, and we still have thousands worth. We took money out of our retirement to help pay bills and live on. I regret that now since reading more about bankruptcy protection, but it's been hard living on one income. I'm finally back to work as of last month, and we have much better health insurance through my job. Hubby's health is starting to decline a bit due to a work injury from years ago. He's had a couple of surgeries over the years, but he may partially retire in the fall of 2023. He would still work part-time, but he would not be at full retirement age. We're still discussing it, but you can tell how bad he hurts. He will also start getting a small monthly pension of less than $600 starting next month.
It's also so stressful and confusing. I did speak with a bankruptcy attorney but wasn't really pleased. Somehow, we automatically qualified for this or that without really discussing the financials. I've learned a lot just from reading the site. We want to downsize after he possibly retires next year. Our house is older, but I'm not on the mortgage. He needs work but we have a couple of acres here. It's hard to keep up with. The bones are good, but the furnace is at least 30 years old. It still works fine though as we properly maintain it. But other things are going to be adding up as well. I guess we are exploring our options right now. I don't know if we will file jointly or just hubby after he retires in case the house doesn't sell for what we need. We were always both kind of bad with money. We were getting better with saving and budgeting before Covid hit and my health declined. I guess we made some really bad financial decisions that led us here. I hope that all makes sense, and I look forward to being part of the community.
Bankruptcy Wizard
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