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good_guy21 · 12-17-2007, 07:09 PM

I'm contemplating filing for bankruptcy but wanted to see if anyone out there has any advice. I have not yet talked to an attorney about this. Wanted to do a little 'research' before I make my decision.

I make decent money. I live an average life. I had a house with my (then) wife, but since we divorced, we sold the house and split the profit. I am currently renting. I lease my vehicle - lease ends in April and I'd like to purchase it at or before that time. It has low mileage and I've taken good care of it. The biggest killer for me is I have credit card debt to the tune of $20,000. Despite this, I have a pretty good credit rating. I make my payments on time, none of them are delinquent.

My debt began while I was in college. I had to use credit to buy supplies and sometimes living necessities. Ever since then, the balances have just crept higher and higher. With the payments and current living expenses, I have no extra $$ for any potential savings or way to prevent having to use the credit cards.

In evaluating my budget, if I didn't have the credit card payments, I would be in a significantly better financial position.

The stress of this debt issue is something that weighs heavily on my mind often. I lie awake wondering how I can pay off debts, etc. Lack of sleep causes me to lose focus at the office, etc.

If anyone out there might have any advice or tips, I am extremely grateful.

12-17-2007, 07:09 PM	#1 (permalink)
good_guy21 Upright	Bankruptcy advice? I'm contemplating filing for bankruptcy but wanted to see if anyone out there has any advice. I have not yet talked to an attorney about this. Wanted to do a little 'research' before I make my decision. I make decent money. I live an average life. I had a house with my (then) wife, but since we divorced, we sold the house and split the profit. I am currently renting. I lease my vehicle - lease ends in April and I'd like to purchase it at or before that time. It has low mileage and I've taken good care of it. The biggest killer for me is I have credit card debt to the tune of $20,000. Despite this, I have a pretty good credit rating. I make my payments on time, none of them are delinquent. My debt began while I was in college. I had to use credit to buy supplies and sometimes living necessities. Ever since then, the balances have just crept higher and higher. With the payments and current living expenses, I have no extra $$ for any potential savings or way to prevent having to use the credit cards. In evaluating my budget, if I didn't have the credit card payments, I would be in a significantly better financial position. The stress of this debt issue is something that weighs heavily on my mind often. I lie awake wondering how I can pay off debts, etc. Lack of sleep causes me to lose focus at the office, etc. If anyone out there might have any advice or tips, I am extremely grateful.