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Butchbaby2000

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Can I file for bankruptcy owing 74,957 dollars on a fixed disability income?
I am a disabled veteran and I have a credit score of 518, due to trying to pay off those I owe. I have to pay them off one at a time and that means that I have to not pay on some. I have a debt from 2000 on a Ford Windstar that I gave back to the car dealer, but somehow it continues to add up even though I am paying $20/mo. on it. I will never be able to pay it off and I don't even have the vehicle. Bankruptcy is my last idea.

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I don't advocate bankruptcy and you shouldn't have to file it either if your Veteran's Compensation is that low.  Check the Statute of Limitations for Collections and find out what it is nin your state.  Any debts that are about to reach that magic number, don't pay on them.   Forget about paying on the car since you turned it back. 

When did you last check your credit reports?  If it's been more than a year,go to annualcreditreport.com and get copies.  Look them over very carefully and file disputes on all WRONG information (things you knokw or strongly suspect are not yours).  On each account listed, the credit report should show the date it is due to drop off.  If it's within a year, don't pay any more.

The only time you are to file bankruptcy is if you have a lot to lose by not doing so.  Would you please give more information on the debts you are carrying and your income and living expenses.  Then there might be a way to figure out where to go from here. , . 

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