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thejuggler15

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Bankruptcy ch 7
currently have ~55k in debt (17k cc - BofA, Citi and Amex; the rest on separate personal loans from SoFi (34k) and Springleaf (3k)) Also owe a car (14k which I intend to keep and im current on payments (2 of 6 years paid)) I make 54k a year (gross) but I qualify through means test.

How bad is my situation? I'm filling with no assets. A couple hundred dollars in savings and checking on average but gets used up for payments/bills. I just live to pay debt and interest as I lost a lot of money trying to invest in the stock market successfully. Thanks, anything helps.

$1300 rent $283 car loan $100 car insurance $120 water electric trash, $150 between cellphone & internet $200 food (I cook most of my meals, training diet) $1300ish monthly on all these debts Been in the cash advance cycle for months and paying hundreds of dollars a month on overdraft fees. $250 gas + misc

Florida

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I will say that it seems bad that because you bet unwisely on stocks that you expect the rest of us to pay your debt.  If you do not think that these companies pay insurance, and that insurance increases the more bad debt they pay off, and that the companies do not charge us more interest to pay for that insurance increase, then please reconsider.

Personally I have been where you are, I got a room mate to cut down on rent, I dropped my phone and internet for a few months, took a second job in fastfood, to get out of the advance cycle. Anything you can do to get out of that, will make it possible for you to pay off the money and interest you have agreed to pay back.  Once you are out of the advance cycle you have more money to pay these loans/cc off.

All of this takes some sacrafice and hard work and acceptance of what you have agreed to. With a 50+k job and only 55k debt you should be able to work out of this quickly if you apply yourself. Read the many articles about which ones to apply any extra money to to get the best draw down (typically the highest interest loans/cc first, or the lowest principle).

I am sorry if I come across harsh, but it is no harsher than I was on myself.

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