help, help, help~~~~

Hello. I live in WI. I am 23, a college student and swimming in debt due to being sick for a while. I owe 14,900 on a car and I am behind on the payments by about 2 months, I owe about 7,000 in hospital debt and I am behind on that about 4 months, I have about 3,000 in credit card debt--all of which I am current on, and I have a loan out for about 2,500 which I am also current on. I have an income of about 1,000. Due to my illness (I have Lyme disease) I find that there are times that I am unable to work, but I do not qualify for disability. . . . at any rate, I am young and scared and I am considering filing for Bankrupcy. I have considered credit counceling, but I feel like I will not be able to get a head. I just need a little advice here. Hope you can help. Thank you.

All of the debts you mentioned are of the types that could be discharged in a bankruptcy.

If you want to keep your car, you must get the loan current and reaffirm on that debt.

Medical problems are one of the big three reasons that people file.

Good luck to you.

How will I be able to keep my car if I become current on the payments? Please explain!

You and a representative from the lender would sign a "reaffirmation agreement" that would be filed with the court.

The bank would prepare the agreement, which would detail the payment, interest rate, etc. It will be in the original loan terms.

In other words, they can't up the payment or interest rate in the reaffirmation agreement.

Thank you. You have been really helpful.