Posted on July 30, 2010 at 5:28 pm  Well to make it short I'm over 30k in the hole and the bank is going to court on August 6th. No doubt there are a couple of others sniffing through the brush too. I haven't had any decent job opportunities come my way in the last 2 years and have been making it (just barely) by doing temp work. My wife is not doing much better and is looking at getting her hours cut next month. Nothing is going my way it seems.  I don't see where this is going to get easier, friends tell me they can come after my truck and my wife's car. Not that either are worth much other than they're all but indispensable in getting to and from my jobs as I do not live close to work areas. I think I may be developing some health problems on top of this. My wife helps with the load when she can but can do little as her obligations to help her parents are paramount to her. She will not compromise and I do not expect her too in this case.  I would just like to ask the people of this forum what they would do and what I should do. I'm really thinking of bankruptcy, I talked to the bank and their payment plan says I should pay $468 a month for 5 years. I haven't talked to the other creditors yet but I'm sure they will want their pound of flesh. I can't guarantee to pay $100 a month reliably and on time, hell last month we were late on the rent. I feel lost, angry and frustrated.  Anyway I would appreciate you help.   

Posted on July 31, 2010 at 5:10 am Hi Scrat,It sounds like bankruptcy might be the only option, going forward.  If the judge awards them a judgment against you they will garnish your paycheck, your bank account...etc.  You don't want that to happen.  If you file bankruptcy you will need to work really hard to repair your credit.  It will hurt your chances of buying a home for a while also.  If your going to file for bankruptcy then you need to do it before the court date, once you file it will stop all collection efforts.  I would also go to court and let the judge know you have filed bankruptcy so the credit card company doesn't win a judgment against you..  This is just my opinion.blogger4life

Posted on July 31, 2010 at 12:27 pm One has already went to collections. I don't know about my credit future in light of the fact that I will (by choice) never have one again. I don't think I'll be buying a home either, I really think it would be a terrible mistake in this economic climate. I don't agree with the way it's done either. 30 years to pay off a house? I may not have that long left in reality. Maybe I'll win the lottery!!!  I'm going to look into it (bankruptcy) and another place with a government program or something. Problem is I don't have the money for the freaking fees. My sister is strapped with 3 teens, her husband isn't working either and my other good friend just sunk $1800 into his families van, it didn't pass emissions either. I know he doesn't have money.  I'd appreciate any more advice.   

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