I am about $10000 in Debt, i'm 25 and have a baby arriving in 10 weeks so no more work. Partner gets a rubbish wage. Considering Bankruptcy. Anyone whos had a similar situation would love some input and advice.
Bankruptcy laws have changed regarding filing bankruptcy as follows:
Bankruptcy Abuse Prevention and Consumer Protection Act of 2005
With limited exceptions, people who plan to file for bankruptcy protection must get credit counseling from a government-approved organization within 180 days before they file. They also must complete a debtor education course to have their debts discharged.
Your best way of getting some peace of mind is to get credit counseling from one of the govt approved agencies. Don't use those so-called non-profit, pay up front now clean up your debt type of companies (many are not really non-profit)
Use the link I have provided to find one approved by the govt and the FTC. Start there first, they will get you on the right track and help you avoid filing bankruptcy which would hurt your credit even more (for 10 years).
Hope this helps.
