Hello, Here is my situation I got behind on my bills I owe round $5000 on one and 1,200 on another then the car is 1,500 due to sending out repo it got that bad. And a motorcycle that I don't want also ready for repo. I am about to get a new job making around 50 K a year and I coud start paying them up but I don't know what to do for now. So I was given advice to file bankrutcy but I am not sure what will happen I read 10 years to clear it up. I don't want to if it's not the right move I hope some of you guys can help. TIA
Banko is probably not an option you want to look at yet. Since you said you'll be getting a job making enough money to start paying them off you should contact them and start working off payment plans. From what you owe, compared to what you will be making (dependent upon when the banko is filed) I don't see you being able to file chpt. 7, more than likely it would be a chpt. 13 which is just a repayment plan, something you could try and do yourself, without the banko on your report.
Thanks for the advice I did try to work out payment plan but they want the whole $1,500 for the car right now I don't have it yet. I can't pay any of the due amounts until my first check but since I won't be able to start working for another week then I won't get paid until around the beginning of next month and the creditors won't wait that long that is why I am stuck. So, you think that I should do the 13 ? Since I can't pay for awhile I have to have a car I live where public trasportation is not an option. Thanks for all your help
