Re: Need help for credit cards debt

Posted by JJ on August 08, 2001 at 19:12:51:

In Reply to: Re: Need help for credit cards debt posted by AL on August 08, 2001 at 14:36:38:

Al,

As I read your situation, your household income is approxiately $4500/month. You spend $1500 on rent and autos.
Let me say if there is any way in the world you can avoid chapter 7 or 13 or debt management you should. All of these will give your credit a good whack.
Now then. When you called the lawyer, were the income, the rent, and the autos the only numbers discussed? If so, you need to see another lawyer. Yes, you make good money but, you got a lot of expenses. Add it up. Your rent, autos, a little item called taxes, utilities, insurance, food, clothing, cable, vet bills {if any}, child support {if any}, unpaid medical bills{if any}. Do you have kids , are you providing support for aged parents, any student loans, are you seeing the light? It is expensive to run a household. And, I didn't even mention the credit cards. Go and have a sit down session with another lawyer and give them the full picture. Most give free initial consultations.
You need to find every way in the world to be in chapter 7 as opposed to 13 if it comes to that. Two reason. In a 7 you wipe out all unsecured debt. In a 13 you must pay a portion. In a 13, you and your spouse will not be allowed to paricipate in a 401k until you are discharged. Good luck!

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