Bankruptcy?

[BuckyBadger]

You still seem to really want to declare bankruptcy. I agree with the others, though, who are suggesting that you rethink that. You only owe $22,400. You make $35,400. It's really not all that bad, although I'm sure it seems insurmountable right now. All you need to do is scrape together a couple hundred dollars per month, and people have made great suggestions about how to do this. Once you start your debt snowball you'll be surprised how quickly you'll see yourself make progress.

Bankruptcy is a one-time, nuclear option. It is not to be taken lightly.

[Petunia 100]

I don't see any child support. Why isn't your son's dad paying anything towards his son's expenses?

Is BF paying his fair share of household expenses?

[photo]

The cable is the only real luxury, as I don't really do anything else (get my nails done, etc).

You're strongly considering declaring bankruptcy. Obviously, a cable bill is a mere fraction of your problems, but if your financial mindset doesn't change, you'll end up bankrupt again in a few years. A bundle is a bargain only if you can afford it.

[gettingittogether]

Bucky - I don't want to do it. That's definitely a last resort, I was just feeling so overwhelmed. It's like I just can't get ahead...and things keep coming up.

Petunia - my ex-husband does pay child support, I didn't feel the need to list it separately. My boyfriend is paying his fair share. He is paying more than I do.

I am going to work on paying all of this down and off. Hopefully I will get a decent tax refund and can knock a lot of it out.

[snafu]

Getting... Hope you have an awesome Thanksgiving. you have a lot to be thankful for. I know life's challenges can knock you down from time-to-time but we know you can get back up and start making good decisions for yourself.

1st get on the phone and and ask creditors to work with you by reducing those outrageous interest rates. Hey, as your FICO score drops, your interest rates rise. You need to be mindful and press for reduction. Nothing to lose by asking!

Expecting a big tax rebate said a lot. It meant you were not looking after your money You gave the government an interest free loan. They will never give You an interest free loan! They add fees and penalties when you don't pay. Have your tax deduction adjusted to break-even. You can be trusted to spend your money responsibly and pay down your debts.

Short term, while you're getting this financial mess cleaned up, you can't afford to buy new stuff. Write a budget and stick to it. You need to be disciplined and mindful of spending to the penny. Best of all, frugal habits learned now will be the best example for your youngster. No complaining, no cranky mom, substitute free/low cost activities and experiences for spending. Spend time at the library and one-on-one time activities to make the best long term memories for you both...or all three. Kids lose interest in advertised toys PDQ, but they remember the books mom read to them or stories about 'when I was your age, we had fun...'

[DebbieL]

If you expect huge tax refunds, I have a feeling you are having too much taken off at source. Can you adjust this so that you don't get big refunds? It would seem that you need that money in your pocket every month, not giving an interest-free loan to your government.

[Eric80]

I think that filing for bankruptcy should be your last resort and something which you should not consider lightly as this will affect your future. I highly recommend that before you finalise this decision that you consider speaking to a debt advisor where they will be able to suggest a possible solution like IVA or to consolidate your debts.