$10,000 in debt. File for ch.7?

[conorfritts]

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[mhays25]

That much in rent for a place without decent transit service? I'd ditch the car, and live somewhere that has a bus to work at least.

Agreed on the roommate idea. You can keep the bedroom and charge maybe 40-45% for most of the living room, or vice versa. Some other costs would be shared too, like internet and power.

[Dreams2Plans]

Originally Posted by Mr. Ryu

I agree. I attended a bankruptcy hearing and it was pretty amazing at the simple questions that they ask the applicants. My mother had 19K in CC debt and i helped her file bankruptcy since she was not able to manage to pay off her debt with her salary and she is close to retiring or semi-retiring. In NYC, it cost 1600 to file BK. Also, she is receiving CC offers from Citibank (one of the debtors) after her BK was accepted.
The BK lawyer stated that she can rebuild her credit in 2 to 3 years.

Receiving "offers" (which are mostly spam mail) does not guarantee actually getting another credit account open! Most of the time it even says on all those offers in small print: subject to credit verification, etc.
My ex-husband had declared bankruptcy (even though I didn't want to), and it took me exactly 10 years before it fell off my record! I was able to get a credit card before then, but did not buy a house until after the 10-year mark. (And owning a house is one of the major steps toward security and wasting money on rent!)


Also, I would not trust what a bankruptcy layer said, anyway, because getting people to do that IS his business, so of course he'd want to present it as way less damaging than it actually is!

[luzianne]

I wouldn't file bankruptcy over $10,000.

[skeddy]

go get 2 more jobs