Chapter 7

What is the name of your state? Texas
I recently moved back to my home in Texas which is homsteaded. I am now unemployed and even if i find a job my wages will be roughly 50% less then what i was making up north due to the low pay in this area.
I sold just about everything when I moved back here and now have credit card debt and a signature loan that I am unable to pay. At this point i have about $100.00 in the bank and won't even be able to pay a lawyer to discuss bankruptcy.
My question is what happens if i just don't pay these bills at all. I will continue to find away to make my house payment no matter what but the rest is all unsecured debt. whats the advantage to bankruptcy vs not paying?
Thank You.

Well, if you don't pay, then you will be hasselled by the creditors, and when they get tired, the collection agencies will start in with all of their threats. Once they get tired, then it might go to a lawyer's office, and you might get sued. Now, since you live in TX, there isn't much that they can do if/when they get a judgment against you, since TX is a non-garnishable state. They can place a lien on property, but that's about it. But they will continue to call. Once the SOL is up, however, there really isn't much they can do about it. Now, if you file bk, then you will be safe from all of the calls and letters, but your credit will go down the tubes. There is life after bk, but it can get rough at times, like when you want to buy a house or a car or get another credit card. I would call around to see if any bk attorneys offer free consultations. And you can also sometimes find attorneys who will set you up on an installment plan to pay the fees.

what does SOL stand for ? Thanks