I’ve recently been contemplating filing for Bankruptcy (Ch. 7) because I am in so much debt it hurts my brain to even think about it!! I am currently over k in debt. Most of the accumulated debt I owe is from past bills I ran behind on due to some unnecessary circumstances. Right now I am attending school full time and working part time making a measly 20/month as my take home pay. With my salary I pay for all the usual bills: rent, utilities, wsg, car insurance, car note, and use whatever I have left over to pay down my debt. For the past year and a half I haven’t opened any new credit accounts and I’ve been on a tight budget. I take full responsibility for all of the finanical debt I put myself into but am stressed and afraid that some of the creditors I owe will soon take legal action (as some have stated in their threatning letters). I’ve attempted to set up payment plans and have tried to negotiate a reasonable payment plan with my creditors but even with some agreeing to this others are not as willing. I am just seeking some advice because my credit is already horrible and even if I decide to paydown my debt it will take well over 5 years relinquish. I figured if I file for Chapter 7 it will stay on my credit just as long as if I tried to paydown all my debt on my own.
Big T: THank you very much for the advice and the many suggestions. I have been trying to stay optimistic about the whole ordeal and I have to give it up to you because I understand first hand how hard juggling work and going to school full time can be. I understand my debt is nothing compared to others but it is still a debt I have to take care of. I appreciate the encouragement and will look into other wage earning opportunities and try other ways to cut back!

Barnaby J: Thank you, I didn’t really factor in my wage earnings after college because they are still unbeknowest to me. (maybe if I looked into a crystal ball I’d know for sure..lol) But, since you have mentioned it I am predicting my salary wages will increase quite significantly after college which will help me drastically in cutting my debt!! However, I am not trying to rely entirely on those predictions! Thank you!!

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I’ve made a big mess out of my life by making mistakes I could actually afford at the time. I had a great job making enough money that I could afford my own apartment and a brand new car. Life was great for about 2 years, all my payments were on time, and I had a little extra cash so I could go out with friends on the weekends. I met a guy and he moved in, and everything went straight down the tubes. My boss fired me and didn’t give me an explanation ("something needs to change and we think it’s you" whatever that means), and I found another job immediately but only making about half of what I was making when I got fired. This whole time, I was still paying all the bills for the apartment and car, even when I had a full time roommate because he didn’t contribute a dime for the first 5 months he lived with me. I used up all savings and started to borrow money from family and friends until they all cut me off ( reasonably stating that because I had someone else living there, they shouldn’t have to rescue me and I’m inclined to agree ). so at this point, I’m about 2 months behind on my credit cards and car payments, and my brain snapped and I told my bf that he had to start helping with the bills. at which point, he started "helping" with about 1/4 of the bills for the apartment ( i never expected him to help with the car or credit cards, but I do feel he should have had to help with 1/2 the bills for the apartment, especially since his kids were there on the weekends as well ). I quite stupidly started just flat out ignoring the harassing calls from creditors and collection agencies (hey, I couldn’t pay my bills just to live, sleep and eat much less give anything to the creditors, and they refused to work with me the first couple of times they called). I surrended my 2 year old car that I adored because the creditors told me they had reported it stolen (i don’t even know if they can do that, I was 2 months behind on payments). also adding to the misery, I had co-signed a loan for my brother to get a truck, which he also defaulted on and surrended. So to date, I have ,000 in debt and have no way of paying it back (at least not for the foreseeable future). I do have a job, making less than 0 a week with no possibilty of any overtime and / or supplemental income. last october, I was severely depressed and got behind the wheel of a car drunk, got arrested and charged with a dwi. so now, I have to pay rent, fines and surcharges, my car insurance went through the roof, and my phone bill. at the end of the month, I’m left with about , 0 if I’m really lucky. I talked to a credit counselor to try to get the debts under control, and she informed me that my ONLY option is bankruptcy. I’ve come to terms with the whole bankruptcy thing ( and believe me, I’m not thrilled about it ) but the biggest problem I’m facing now is trying to come up with the money to file for bankruptcy. The creditors are getting more aggressive, I’ve been sued at least twice, and they are threatening bench warrants and garnishing my wages. I can’t afford what I’m living on now! If they garnish my wages, I will not be able to pay for something (most likely fines and/or surcharges) and all of this is going to turn into an even bigger mess.

I’m at the point now where I understand all of my mistakes, realize that I have to pay for them. But I’m also at the point where I am extremely close to suicidal. I can’t eat, I can’t sleep and I can’t concentrate on anything. I’m ill at the situation I’ve created for myself, but I don’t know how to fix it. I don’t even know where to start. I quit drinking nearly 6 months ago after realizing what it had cost me. Is it too late? Am I doomed to be a mess my whole life? It seems like this situation never gets any better, it’s gradually just getting worse, to the point of just giving up completely.
This situation feels completely hopeless. No one has any advice for me. every one just says "that sucks". well, no kidding! I hate to sound so shallow, like money is the only thing that matters to me. I don’t just care about money ( in fact, I HATE IT ). The fact of the matter is that my whole life feels wasted, like I’ll never recover from any of this. I hate no longer being self sufficient, and feel like I will never be able to take care of myself again.

Is there anyone out there that has any advice for me at all? Steps I can take to improve the situation? Or possible jobs I could take on to try to make some extra cash so I can take care of all this with a less than stellar record? I just need some help and this is my last resort. I really don’t know what else to do.

And for anyone who has snarky remarks, IE: you’re on the internet ( so I must have $ right? no, I use my computer at WORK), you made your bed blah blah blah, please keep the comments to yourself. the purpose of my post is a last ditch attempt at trying to get some help, not lose any more of my self esteem, if there is any left.
Thanks

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