GMerra
Firstly; thanks in advance for reading this post and any advice you might offer.
A year and a half-ago my business folded. I had a modest nest egg saved and unfortunately the well ran dry as of 3 months ago. I remain unemployed despite exhaustive methods of finding a new job. I have a B.A., extensive experience running a business, and experience in multiple-domains, etc. Needless to say I'm unable to make payments on my accounts, save for bouncing credit from one cc to the other and taking advances to pay the bills just to keep my credit up-to-par (FICA at 740).
Over the year and a half I have accumulated under 20K in cc debt, a student loan of 15K, and a car payment (lease). So I have around 35K in overal debt (excluding the car lease). Since the job hunt is still looking grim I'd imagine I will be running up even more debt on my cc to just to stay afloat (ironically they actually saving my neck). All my accounts remain in good standing, except the revolving balance issue and high debt. I still have around 50K 'available' credit (whether this is a bane or boon) I'm not sure.
I was hoping for some advice on what to do as far as filing for BK:
When should I file?
Will I qualify?
What type of BK would be advantageous for my situation?
What steps should I be taking right now to solidify this process?
Will adding more debt to my situation affect my chances (considering my circumstances)?
Are there any ways to include my student loan in the mix?
Any advice would be greatly appreciated. And thanks again for taking the time to read this post. Everyone here seems to be way ahead of me on this.
P.S. I haven't read much on the intricacies of BK, so this is a beginners attempt at gauging some basic information on how to get started and pointed on the right path.
A year and a half-ago my business folded. I had a modest nest egg saved and unfortunately the well ran dry as of 3 months ago. I remain unemployed despite exhaustive methods of finding a new job. I have a B.A., extensive experience running a business, and experience in multiple-domains, etc. Needless to say I'm unable to make payments on my accounts, save for bouncing credit from one cc to the other and taking advances to pay the bills just to keep my credit up-to-par (FICA at 740).
Over the year and a half I have accumulated under 20K in cc debt, a student loan of 15K, and a car payment (lease). So I have around 35K in overal debt (excluding the car lease). Since the job hunt is still looking grim I'd imagine I will be running up even more debt on my cc to just to stay afloat (ironically they actually saving my neck). All my accounts remain in good standing, except the revolving balance issue and high debt. I still have around 50K 'available' credit (whether this is a bane or boon) I'm not sure.
I was hoping for some advice on what to do as far as filing for BK:
When should I file?
Will I qualify?
What type of BK would be advantageous for my situation?
What steps should I be taking right now to solidify this process?
Will adding more debt to my situation affect my chances (considering my circumstances)?
Are there any ways to include my student loan in the mix?
Any advice would be greatly appreciated. And thanks again for taking the time to read this post. Everyone here seems to be way ahead of me on this.
P.S. I haven't read much on the intricacies of BK, so this is a beginners attempt at gauging some basic information on how to get started and pointed on the right path.