To make this story short, In May 2003 my husband joined the Military and moved to a small town in california from Portland Oregon. Both him and I were making good money however when I moved (while he was in bootcamp) I was not able to find a job, his military pay was not helping either. I became late on 3 credit cards and was never able to catch up. I then 6 months later signed up with a Debt Reduction Program (Better Budget Financial Service) who now are being investigated by the FTC for fraud and are out of business for now, and i received the bills from the CA of what (I) not my husband, owe them which is alot, (late fees, over limit fees) so now I am have these credit cards who have charged off as of Dec 2003, I am a resident of Oregon but reside in California (due to husband military service). I owe Discover 7,144.00 and Bank of America 6,000. the other credit card was settled by BBFS. I have been a stay home mom, my husband and I are living off of His CPL pay which leaves us with 500 dollars a month after bills are paid (his credit cards, ca insurance,car payment, food, child expenses), oh not including gas to and from work, which isn't helping either, So my questions are, What state would I be under as far as the SOL, California or Oregon? Which state would i file bankruptcy, Or or Calif? Should i file bankruptcy and would i qualify for Chapt. 7? I'm scared, I'm lost, I'm frustrated, I dont know what to do. I also got a letter from the CA, so do i send them back a letter to validate what i owe them? What are the chances of being sued? I don't have a large lump sum to settle these accounts. I am worried about getting sued and not being able to file for bankruptcy down the road because of this new law that will be passed. Thanks
For $7000 and $6000 the chances to be sued are very good.... If you are thinking about BK, most lawyers offer a free initial consultation. There should be one nearby who can answer all your questions, and help you to decide
for more information, try http://creditboards.com/forums/index.php?showforum=34 active forum with good info. good luck
Some states also have BK laws which may or may not be more favorable than the federal statutes. The petitioner can choose to file under state or federal guidelines for exemptions, etc.
