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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Wow…OP back, and thank you all for the posts. The thought of this has been eating away at me, making me physically ill and keeping me up at night. Just hearing a few positive stories makes me feel so much better. I will definitely be doing more investigating.

Basically the PP hit it on the head with low paying job and high cost of living. We have a pretty reasonable rent right now (as in, I don’t think even an apartment would be less at the moment), but CC debt from trying to stay afloat with 2 kids has taken over. [/quote]
If you discharged the debt would you be able to afford all of your fixed expenses without incurring more debt.[/quote]

I believe so, yes. I mean right now I’m paying close to 2k a month to credit cards and loan consolidation payments. I don’t know what payments would be expected if bankruptcy were filed. Outside of debts, our monthly expenses consist of rent, utilities, car payments, daycare and food. [/quote]
You need to run the numbers to be very sure that you can afford all expenses going forward with incurring zero debt going forward. That includes increased rent and other inflation costs.

Chapter 7 seems a better option for you, although we don’t know the amount of your debt so hard to say.

But you also need to seriously consider increasing your income in order to be able to handle unexpected costs. What will you do if your rent increases $300 or more at your lease renewal? With a bankruptcy on your record, it will be very hard to secure new housing in the next few years.

Is the debt in the name of you and your spouse, or just one of you?[/quote]

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