I have been writing below about a collection with AMEXP and numerous debts and a husband who does not want me to declare bankruptcy... Well, all of your good advice made me sit down and face the cold, hard truth. While sobering, it is one step forward in facing this mess. I have been using credit cards to finance a business and live and it's now crumbling down. I have over $50,000 in credit card debt at an average rate of 28.99% spread over numerous cards; several closed by the creditor due to my high outstanding debt. My husband has only 2 cards; they do have a balance but a 10% rate so there is no reason for him to declare bankruptcy. I realize that I can't pay these cards any longer; I can either pay my mortgage or these. I am looking for a job and I am slowly building sales in my business; but at this point, there is enough money for the basics for just a few short months. I feel ashamed of this; very ashamed. I put my all into a business and truly expected it to be supporting by now. I used our savings, got into debt and now have to try to do the right thing. I have always been the "ceo" in family and have done quite well in the past. But, I have taken too many risks and my husband has taken the back seat. We both have to take responsibility. Anyway, thanks again to everyone for their support. The collection was probably a good thing as I would have continued to stick my head in the sand even longer until something similar happened. I don't know how I'm going to tell my husband this. I will let you know how things go. I have to make the phone call to the bankruptcy attorney tomorrow. I know there is a light at the end of the tunnel, I'm trying hard to see it, but can't at the moment...
I know how you feel, I've been there. My husband's name was not on any of my debt when I filed so I filed alone, but that was in 2002 before all the changes. I can't tell you what a sense of relief there was when I finally filed those papers, it felt like a 1000 pound gorilla fell off my back. Yes I felt ashamed at the time & felt like I was a major failure, thats very common. After awhile I began to see that it was the best decision I could have made at the time. I lived cash only for 4 years before I learned about credit repair & rebuilding. Now I am doing much better. You'll do better too. Sometimes you have to make decisions like this. Know you are trying to help you & your family. There is no shame in that. Good luck! Tegleg
Don't ever feel ashamed to fail learn from it build on it.Now is the time for him to step forward and to support you for who you are to him.The person he married for better or worse well now it's a bad time.Don't give up this will pass,yeh it's going to be rough but it will go away.Work around your business scale it back.theirs no shame in what happened,Theres no shame in trying.
