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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Seems to me that what you want to do is bite the bullet, sell your house, and move into a smaller and more affordable place. That way you can avoid bankruptcy. Yeah, this will be painful and inconvenient, but much less so than bankruptcy.[/quote]

Our mortgage is only $2000. WHere am I going to move where its less than that? Ive crunched the numbers, believe me. Its not any more affordable mortgage wise anyplace in this general area.[/quote]

If you declare bankruptcy, you will lose your house. It is an asset and the court will use it to pay off your creditors. You will then need to find a cheaper place to live anyway, so why not find that place now, [i]before [/i]you have declared bankruptcy, and thus possibly avoid bankruptcy.

The issue of a cheaper mortgage will not arise, because you will not own a house after you declare bankruptcy. (You will lose the one you have, and you will not be able to get a mortgage on a new place.) You will have to rent an apartment. So why not do that [b]now[/b]? If that means getting rid of a lot of your stuff, so be it.

If you have flawless credit now, that is something worth preserving, even if you have to make sacrifices to do so.

I think you want to consult a credit counseling / financial management type of person before you even approach a bankruptcy attorney.[/quote]

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