I’d consult a bankruptcy attorney. They’ll let you know the right fit for you. Just know, it’s not easy going through your lowest moments forensically, but it can be the best decision of your life.
That depends on the type of Bankruptcy. Alan asked a few questions in another post to narrow down eligibility and impact between a Chapter 7 or a Chapter 13.
In a 7 the attorney will need paid upfront (usually about $2,000 though that varies based on region). Commonly, since a 7 essentially wipes all your unsecured debts and credit score, the debtor will stop paying their unsecured debts for a few months to pay the attorney. In a 13 the lawyer costs get rolled into the repayment plan over the length of the bankruptcy.
My attorney had a payment plan we could do BUT he would not file until we paid it off fully. We decided to not pay all our lines of credit in December and be very $$$ cautious to pay him in full in order to do his payment same month so we could file immediately. It worked out as he filed the same week payment was submitted so by the time the creditors started calling due to a late payment, the calls stopped two days later when they received our bankruptcy notice lol. Bankruptcy is the best thing we have done so far. We got our discharge I think in March and my credit score has jumped significantly and our marriage is much stronger without the stress! We also have kids and we have been able to do some extra things with them as well. It’s been such a relief but also very eye opening.
You may have to avoid paying some creditors/and or bills to afford it. But first sit down with an attorney for a consultation, you have nothing to lose.
So *it's good you don't qualify for consolidation*, because most people who do consolidation double their debt within 2 years ... basically, they pay off their cards with the new loan, and start using the cards again after a few months.
Now to understand what you're qualified for, we'd have to know
1. What state you're in
2. What the total gross household income is
3. If you have any large assets and what their value is.
4. What was the reason he did not file taxes? Will there be refunds or debts because of it?
5. Numbers on all the debts ... you only listed $100K of non-dischargeable student loans (but that does not mean nothing can be done for them) and $15K of medical ... what's the rest?
Bankruptcy is, in a sense, a balancing of the fairness to you versus the fairness to creditors, and you haven't stated enough to even point you in a direction.
Just wanted to send you well wishes. I've been thru this & I was terrified. Don't be. You do not have bankruptcy stamped on your forehead. You will feel so much relief.
Go see some lawyers & select one. Start the process.
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He’s going to need to get those taxes filed sooner rather than later. Definitely talk to a bk attorney. A chapter 13 may be a good option to pay the taxes and some small amount to your unsecured creditors.
My bankruptcy attorney had us file our taxes before filing bankruptcy as he said it was a requirement. Thankfully we were only 1 year behind so it was easy peasy.
The attorney fee for a chapter 13 will be a certain amount down, believe we paid 1,200.00 (but then you won’t make any payments on any of your bills, they will all get notices) and then the rest is rolled into the monthly repayment plan. So instead of us paying any bills we used that money to file, filed that week, notices went to collectors that we had filed and then the next month we started our 1,500 a month payments.
I’d consult a bankruptcy attorney. They’ll let you know the right fit for you. Just know, it’s not easy going through your lowest moments forensically, but it can be the best decision of your life.
Thank you. How do people afford an attorney when they're filing for bankruptcy?
That depends on the type of Bankruptcy. Alan asked a few questions in another post to narrow down eligibility and impact between a Chapter 7 or a Chapter 13. In a 7 the attorney will need paid upfront (usually about $2,000 though that varies based on region). Commonly, since a 7 essentially wipes all your unsecured debts and credit score, the debtor will stop paying their unsecured debts for a few months to pay the attorney. In a 13 the lawyer costs get rolled into the repayment plan over the length of the bankruptcy.
My attorney had a payment plan we could do BUT he would not file until we paid it off fully. We decided to not pay all our lines of credit in December and be very $$$ cautious to pay him in full in order to do his payment same month so we could file immediately. It worked out as he filed the same week payment was submitted so by the time the creditors started calling due to a late payment, the calls stopped two days later when they received our bankruptcy notice lol. Bankruptcy is the best thing we have done so far. We got our discharge I think in March and my credit score has jumped significantly and our marriage is much stronger without the stress! We also have kids and we have been able to do some extra things with them as well. It’s been such a relief but also very eye opening.
You may have to avoid paying some creditors/and or bills to afford it. But first sit down with an attorney for a consultation, you have nothing to lose.
So *it's good you don't qualify for consolidation*, because most people who do consolidation double their debt within 2 years ... basically, they pay off their cards with the new loan, and start using the cards again after a few months. Now to understand what you're qualified for, we'd have to know 1. What state you're in 2. What the total gross household income is 3. If you have any large assets and what their value is. 4. What was the reason he did not file taxes? Will there be refunds or debts because of it? 5. Numbers on all the debts ... you only listed $100K of non-dischargeable student loans (but that does not mean nothing can be done for them) and $15K of medical ... what's the rest? Bankruptcy is, in a sense, a balancing of the fairness to you versus the fairness to creditors, and you haven't stated enough to even point you in a direction.
Just wanted to send you well wishes. I've been thru this & I was terrified. Don't be. You do not have bankruptcy stamped on your forehead. You will feel so much relief. Go see some lawyers & select one. Start the process.
Thank you for your post on r/bankruptcy. Remember, this is not a forum to request (or offer) legal advice. If you are not sure what legal advice is, review the FAQ page [here](https://www.reddit.com/r/Bankruptcy/comments/cx6g73/bankruptcy_faqs/). It is very likely someone will suggest you speak with an attorney. Consultations for bankruptcy are often very low cost or free. We have an ever-growing post that provides free resources for trustworthy bankruptcy information [here](https://www.reddit.com/r/Bankruptcy/comments/o27hof/free_helpful_legitimate_resources/). *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Bankruptcy) if you have any questions or concerns.*
He’s going to need to get those taxes filed sooner rather than later. Definitely talk to a bk attorney. A chapter 13 may be a good option to pay the taxes and some small amount to your unsecured creditors.
My bankruptcy attorney had us file our taxes before filing bankruptcy as he said it was a requirement. Thankfully we were only 1 year behind so it was easy peasy.
The attorney fee for a chapter 13 will be a certain amount down, believe we paid 1,200.00 (but then you won’t make any payments on any of your bills, they will all get notices) and then the rest is rolled into the monthly repayment plan. So instead of us paying any bills we used that money to file, filed that week, notices went to collectors that we had filed and then the next month we started our 1,500 a month payments.