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angel2005_2001 | I am a single mother. I'm in bad debt probably around $30,000 or $40,000? |
I make $1,600 a month. I have tried to pay some back and have set up payment plans with some companies. I also have a $1,093 a month house payment that my parents help me pay. I'm living paycheck to paycheck. My baby's father left me in debt over my ears and he doesn't help pay anything for her (he doesn't see her). I was wondering if I filed bankruptcy could I file Chap 7 or Chap 13 or do I even have a chance? And if I filed bankruptcy would I loose my house?
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I'm not pursuing the father because I'm not wasting my time for him to find him and get him in court. He already has a court order to pay for 2 other children, he keeps NOT having a job to keep not paying this and he hasn't went to jail yet, so what's the use. |
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JennyKS
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I am also a single mom who for many years struggled. So my answer comes in part from this and in part for doing credit repair for others. I'm not sure what kind of debt it is or what state you are in, so this is a general answer.
First of all, you have to think of your little one first. If you're constantly stressed out about making your home payment, the creditors calling, and not having enough for emergencies, then your emotional energy is being spent on those things, and not parenting. It's time to realize that you got in over your head, and you made mistakes. By taking that first step to becoming self-sufficient you're doing what is good for you and your child.
Bankruptcy (BK) is not the end of the world. You can own a home after this and life will go on.
Quite simply, you do not make enough to afford that home. Even if you catch up now, it's just a band aid on a major wound. If you can, sell it. Your home payment (rent, mortgage, whatever) should ideally be around 25-30% of your TAKE HOME pay. (don't let others convince to budget on gross income)
If you can't sell it, then depending on your state, you might loose it in BK. There is a small silver lining to this. Foreclosure procedures (depending on your state) can take anywhere from 4 months - 12 months before you will have to leave the home. In this time, this will allow you to save as much as you can. You'll need it for deposits for an apartment, moving, utility deposits, etc and those types of expenses. I suggest during this time, you buckle down and save every dime you can. Keep your utilities and every thing else current, but use this short period of time to tuck away $700 or so.
As for the $40k you are in debt, a BK attorney will advise you what will happen with that and how to get a fresh start.
Once you get a fresh start and you're in an apartment that will be full of good and new memories for you and your little one, what next?
You need to look at what got you in this mess. That means budgeting tightly. Not just for current month expenses, but also emergencies. Cut back on food costs, and cut corners where you can. I used to use the envelope system, and that helped greatly. I just googled it for you and found lots of results (to save me typing an explanation), and one site that came up was this: http://www.budget101.com/art251.htm (I am not affiliated with that site and posted it for information purposely only)
I literally had a half dozen envelopes that said : groceries, household goods, etc. Each one with what I budgeted. The first 3 months were the hardest, but once you got used it, it almost became a game to see how far you could make it stretch. It works. When you fall off the wagon, just jump back on the next pay period. Eventually you retrain yourself.
As for child support, In my state, the state provides an attorney to pursue parents who need to pay child support. It's free to the custodial parent. Please check with your local SRS (or DCFS, whatever its called in your state) and ask what can be done. Also ask if you qualify for any assistance. It's not a long term solution, but a short term boost to get you where you need. You may not want to pursue him, but every little bit helps. Also, child support does not mean he automatically gets visitation rights if that is a worry of yours.
You can do this!! What you need is a fresh start. While I don't recommend BK to many, in this case, you're so far over your head you're drowning. Take the help BK and your state agencies provide you and be proud you are making a better life for your little one. Then, when s/he is older, you can teach them about your mistakes, and hopefully it won't be repeated.
Good luck! |
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Dont_taze_me_bro
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Bankruptcy isn't a good idea and won't fix this problem.
Sell the house and work out arrangements on everything you owe.
Pursue the father of the child for child support. He can be compelled to pay. |
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ladyscootr
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I have two words for you. Child support. He is financially responsible for your child as much as you are. Contact your local child support enforcement agency, and they will go after him and you will get support. You do not need a court order. They will take him to court, you will be a witness. Do it today! |
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bluebell
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Your baby's father is responsible for child support whether he sees her or not. She doesn't suddenly cease to exist in the case of out of sight, out of mind. CSA should be chasing him. Getting any money at all would help your situation. |
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and then I said
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Sell your house and find a 2 bedroom apartment for you to rent. You are living beyond your means at this point, and you need to get rid of the things that you don't need. You will never be able to afford things or get ahead until you find a place that you can afford. I recommend going to rent.com or a similar website and trying to find a 2 bedroom apartment in a nice area near your child's school. It will probably run you around 700-900 dollars. It will also get reduce your monthly electric bills, and perhaps even some other bills. Some apartment complexes include things like trash, sewage, water, and/or pest control in their rent.
Next, you need to find a way to pursue your baby's father for child support payments. If he has a job, the government can take a certain percentage out of his checks each month that he will never see or have control of that will get sent directly to you to help you pay for things for your child. Contact an office that deals with this sort of thing in your area - they may even offer free consultations.
Find a way to consolidate your debts. There are various government programs that can help you pool your debt into one lump sum, so that you are only making one low monthly payment each month, instead of several monthly payments to different companies.
Next, reduce your grocery bill. Shop at warehouse store's like wal mart. Yes, it sucks to shop there because of all the people - but it's well worth it. Skip the brand name foods, and cook more things from scratch. Wal mart also sells good diapers (white cloud is the name of their brand I think) and good baby wipes (if your child is still in the diaper phase of her life).
Good luck, and you can do it! I promise you can. |
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andy
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If you are that bad off not including your mortgage, I would file for bankruptcy and take the father of the child to court for child support. No you would not lose your house if you are current on that debt. |
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stevexnelson
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It's not the end of the world. There is life after bankruptcy.
In my honest opinion, you are in a horrible situation and your only option is to file for bankruptcy.
I am not an attorney, but I filed for Chapter 7 two years ago. I did extensive research on this topic.
I believe you will be able to keep your house as long as you keep making the payments.
Hire a bankruptcy attorney. I paid approximately $1,200 two years ago in New Mexico to file for Chapter 7.
I wish you the best of luck. The economy is falling apart and this is happening to many people.
You really have to file for Chapter 7, because there is no way you could pay off your debts on your income.
Good luck. |
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Phade3
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Don't feel alone millions of people are in he same situation as you ! Just do what you can and always remember that no matter who you owe money to, you and your child COME FIRST AND WHAT I MEAN BY THAT IS KEEP A ROOF OVER YOUR HEAD, FOOD ON THE TABLE AND UTILITIES PAID. EverythinG else is secondary !
Filing bankruptcy isn't the end of the world and according to your assets and debits you qualify ! Keep in mind filing bankruptcy isn't cheap. At least around $500 will start the process !
Collecting child support is easier said than done especially when the parent refuses to cooperate or hold a job. If the parent isn't working how does one collect child support !
Good luck ! |
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sunshinegirl
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I think that the only option you have is bankruptcy.
I know it sounds horrible, but you can have your life after bankruptcy. But, since obviously you cannot pay your debt, this is the only option. |
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C.C
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You need to go to your state they should have a program where THEY pursue him so that he pays and not them. Florida has one I know. Also even if he doesn't pay they will garnish his wages anytime he gets a job so eventually you will get something. |
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JupitersStars
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Filing for bankruptcy should be your last resort. You can go after your ex for child support but sometimes that can cost alot in lawyer bills and ect. I live in canada So i dont know what the difference would be but I think you would be better off to sell your house. You can probably get more then enough to pay off your debts. Sometimes you have to know when to let go of things. If you cant afford to make the monthly payments for your house on your own you really should sell it and maybe move into an appartment or some other house where you would be paying alot less a month. I know that it is hard times for alot of people but i also think that if you file for bankruptcy over just 30,000$ you would be losing alot more then you bargained for. People think its a quick fix but its not. My mother was in debt to almost 60,000 maybe even more and was dealing with a ridiculous million dollar lawsuit that no one was bothering to keep her informed about. She filed for bankruptcy because she really had no other option. She had no house to sell or anything. You have that option. I know it is a sad idea and you would probably hate to see your house go but chances are if you file for bankruptcy you will probably lose your house. It is also better to probably try and take out a loan to pay off all of your debts. Try and find something with a lower interest rate then your other bills, get rid of all credit cards!! and any other forms of credit and just use that one loan. You will IMMEDIATELY feel less over whelmed because instead of haveing 20 things to pay you only have one! Already sounds better doesnt it?
I hope for the best for you and your daughter because I know what it is like to grow up without any money and a **** father who doesnt pay child support, its a tough road but i am sure you are a strong woman and you can get through it. |
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Maldavi
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Bite the bullet and file for Chapter 7 Bankruptcy. Look around until you find a good lawyer who will accept payment over a period of time. A lot of them will accept these payment plans because they realize that people who are left with no other alternative than bankruptcy usually don't have the cash to pay upfront.
If the child's father doesn't work, there's not much you can do to get money from the sorry SOB, but you may need to file against him just to satisfy the courts.
Generally, you can exclude your primary home from bankruptcy proceedings.
You don't mention what state you're in. In some states, you can simply stop making payments on non-secured loans (like credit cards) and there's nothing your creditors can do about it except make a lot of noise and put black marks on your credit file. In other states, they may be able to get judgments against you and garnish your wages.
A laywer specializing in bankruptcy is your best source for the answers you need. |
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theosharatos
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Don't file! Choose a debt-free date like us instead and pay off your debts! |
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cjn4395
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thats not good |
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happy2b_white
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As long as you make the monthly payment no one can take your house, but to be honest you can't afford to keep it. The best thing you could do is stop making monthly payments to anyone. There is no way for you to ever catch up, so in the long run you're falling further behind every month.
It may be hard to accept, but the best strategy for you is to stop making any monthly payments. Save up as much money as you can and keep it in cash. Rent a small storage unit as a safe deposit box, that way no one can freeze your savings account. By the time your house gets foreclosed you will have some money saved up for an emergency, and the best thing to do at that point would be to move back in with your parents. If that's not possible there will always be someone who will be willing to rent you an apartment, half of a townhouse, or something, and you'd have enough cash for deposit, rent, etc. |
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sandy
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i am under $40000 debt and i am not working. i am looking for work from last 5 years but nothing happen, my hubby is working in farm which is seasonal work . he doesn't know english and he doesn't have driver license so he can work only in farms. i also do work in farms in summer for full time then i just get unemployment. i tried to pay my loan very badly but i couldn't how can i do bankruptsy. please suggest me some companies. |
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