bankruptcy and child support arrears
How about this? What do you think?
I am usually a sensible, level-headed, mature, responsible adult…with one singular exception…
My finances are such a pathetic mess, I have a spending addiction for which I am under treatment. My rent is overdue, I am about $1000 behind on my bills and my checking account is so deep in the hole that today is payday and my bank balance is -$36.
I don’t know what to do. I already owe my parents, grandparents, and employer small sums of money. My gas tank is empty and I need groceries. I also have a child to raise on my own. My ex is $16,000 in arrears on his child support, despite all the efforts of the CSEA.
I have an additional $3500 of financial aid coming for this semester, but it won’t be here for another month. I don’t want to declare bankruptcy, but at this point I don’t know what to do.
So I got drunk…*sigh*
I hate when I get overwhelmed like this. I hate that I just can’t seem to get my sh*t together….
So what do you think???
How old are you? What are the chances that after school, you will be able to obtain a job that pays well? IF after you graduate and you dont have a job that can pay, or if your desired degree isnt a high paying job type. File for bankruptcy. Its not as bad as it used to be, with almost 50% of Americans filing. Here is what to expect…
You file, if you have a car/car loan, you can keep 1 car and thus the loan.
Pay your bills ON TIME for 12 months straight, this is key, you can NOT be late or your credit is really screwd for 10 years.
NO NEW CARDS, learn to live with cash or a debit card. Should you get a credit card (after 6 months of filing) keep the balance at 0 and the limit under $500 or what you think is a max you’ll need for emergancys.
In WA state chapter 11 will cost you around $800, with the new laws you must take a credit counsleing course prior to filing, I believe it is around $50, then after you file you need to take another course. GET a lawyer, its worth the $800 to not have to deal with all your creditors.
Your studen loans will NOT be waived, you will have to pay those back even after you file.
After 12months of NEVER being late with a bill, your credit will be better then it is now, I mean a lot better.
