chadinchas

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Everything posted by chadinchas

  1. Thank you for this. This was my assumption as well. Whenever I went through the credit counseling program that you need to complete prior to filing BK, they did indeed include the rent payments to me from the roommate (at the time I only had one) as part of my income, so I was assuming that was the case. Also, it's just easier with my math skills. Three of them are regular loans I did get online, which I make a monthly payment on - Cash Central, Lending Club, and Avant Credit. The other three are installment loans/payday loans, that take a little out of every paycheck. I'll keep that in mind. I am meeting with two different bankruptcy lawyers for free initial consultations this week to see what they say. Also, I do know one roommate is moving out in May of next year, and so I'll have time to find a replacement long before then. I live in a generally nice area, and the town I live in is somewhat of a college town and frequently has new people moving into town, so as long as the other roommate also gives me 30 days notice, I'll be able to find a new one fairly easily.
  2. Yes it is, bingo. The 2897.26 is not my rent. It is my monthly income, counting my roommates' rent checks to me. Total actual rent is 1250.
  3. Well, for one, you're not including the income I get from my roommates, who pay me, and then I pay the land lord. Their rent payments to me help contribute to the rent, utilities, etc. That's the whole point of roommates. Also, I didn't even list mileage reimbursement - Every couple of week, I get reimbursed a percentage of mileage that I drive during that pay period. How much I get paid for it depends on how many miles I drive during the time between when I submit my mileage forms and my supervisor approves it. For instance, on the next upcoming mileage reimbursement check, I'll be getting $125. The time before that was $40. Because it's so fluctuating, I don't even count that into my regular budgeting. As for the car, I can't even begin to estimate how many miles a month I drive. I'm a social worker who does home visits, sometimes an hour or more away from the office, multiple times a week. If I had a clunker, yes, the monthly payments would be cheaper, but the gas and repair bills would make up for that. Also, I'm in the process of applying for a 2nd job that would potentially be flexible with my oncall schedule with my main place of employment. And while I admit my part in the problem, some of it is not my choices. Not everyone who faces bankruptcy does so completely of their own doing. It's more complex than that. Also, the car insurance is due to a couple of recent accidents. That will go down as I improve my driving and go longer without an accident.
  4. Those are payday loans/installment loans. I fell into *that* trap. The only secured loans I have are the Rooms to Go furniture and the car. If I'm doing the math right, the value on kbb.com is $11,405. May will be my first payment, which is $338/month for 72 months. So about 24,336. Got it from CarMax. the $345 is per month. Rent is $1250, electricity is about 170, water, about 100, TV 52, internet 56, groceries, I'm single so I can probably swing it on about $150 a month or less, as I'm pretty frugal Income: 1937.26 after taxes + 510 one roommate pays me +450 the other roommate pays me (I then pay the landlord) = 2897.26
  5. As requested, here are my bills, etc. - not counting rent and utilities: online loan 1: I owe 2680.online loan 2: remaining balance is $1352.11online loan 3: remaining balance 177.50online loan 4: remaining balance $1124.15online loan 5: remaining balance $1060.54online loan 6:remaining balance approximately $930Best Buy: $1500Rooms to Go: $3500Wells Fargo:$3268Walmart credit card: $4100 My car was bought for approximately $14,000 at CarMax on 4/15 (I know that's probably higher than I should have gone, but I was focusing more on gas mileage and efficiency, as I drive A LOT for work), with my monthly payments being $338. My car insurance will be going up to about $345. I do also have one small $300 Credit One credit card that I use solely for work/business expenses, and pay off whenever I get those reimbursement checks from work.
  6. Actually, when I say I caught up on bills, I did catch up on credit card payments I was behind on, but most of it went to my overdue electric and water bills. I do not currently have any dependents or significant other who are in any way dependent on me, so my income is actually fairly decent for a single guy with no dependents ($33,500/year, although I just got this job in January). The problem is that it won't be until October 2015 that my debts will fall below my current monthly net income. And that's IF nothing goes wrong or is unexpected during that time, and IF I'm able to continue with my current hardship forbearance with my student loans. Thank you for that break down. I have made an appointment with two other local bankruptcy attorneys for second and third opinions.
  7. Is it worse than the financial burden that one is typically in to even be considering bankruptcy? I will try to list my debts soon, I believe I have that on a file somewhere. I was going for Ch. 13 because I was under the assumption that Ch. 13, as opposed to Ch. 7, would allow you to keep your furniture, car, etc. Although I admit I'm not completely familiar with Ch. 13, I was under the understanding that they make monthly payments much more manageable than, say, a for-profit debt management program, etc. I of course need my car for my job, not to mention I just got a car because my previous one was totalled in an accident. That said, I did get a good bit of money from the equity of my old car from that accident, which has helped me catch up on bills so that I am not overdue on anything anymore. However, barring getting a really good paying 2nd job, within 2-3 months I will be struggling again, as my monthly debts exceeds my monthly income by about $845, as of the last time I updated my budgeting files I keep.
  8. Hi, I hope all is well with you all. I'll be glad to introduce myself and discuss my situation further when I have more time to do so, but the short version at the moment is something I'm concerned about, that I would like to get unbiased, objective viewpoints on. It's been suggested that I file for Ch. 13 bankruptcy. What affect could that have on my future job outlook (promotions, future employment opportunities, etc.)? I am a licensed social worker in the state of South Carolina. I have already had a free consultation with a bankruptcy attorney, but I would like other opinions as well, as I could clearly tell that he was also giving me his "sales pitch" to get me to hire him as an attorney. Also, how does it affect ability to get a house/apartment in the future? I currently rent a home. Thanks everyone for your time! Chad