Ok I have around ,000 in credit card debt. I also co-signed with my mom to buy a house 4yrs back and it is due to go in foreclosure soon due to the fact that her husband lost his job (construction) and I couldn’t make the payments by myself which is why I defaulted on my mortgage and credit cards.

I also suffered a broken ankle in December and upon returning to work in May I lost my Supervisor position which was nearly a / per hour pay cut. To top it all off they decreased our work-week to 32 Hrs.

So my question is can I get away without filing for bankruptcy and just wait til everything clears up in 7 years or do I have to file?
Unfortunately my injury happened at home so I was receiving Disability insurance which was about %60 percent of what I made normally.

My mom or her spouse haven’t been able to find a job and their unemployment ran out 2 months ago.

I don’t have anything of value that I see the court selling off to pay back some of my debt. I am really broke and don’t have much in the way of assets. I only have about ,000 in my 401k other than that I am broke

Technorati Tags: 401k, assets, broken ankle, credit card debt, credit cards, disability insurance, filing for bankruptcy, foreclosure, insurance, job, mom, mortgage, supervisor position, unemployment