Should I file Ch7 or Ch 13

[joeyb_05]

What is the name of your state? FL

Here is my situation:
My monthly take home pay is $2,098. I've estimated my monthly expenses to be at least 1,957. I owe nearly $14,000 in credit card debt. I'm also paid bi-weekly which means that 2 months out of the year I actually take home $3,147. I earn a bonus based on sales but never know if I'm going to get and rarely do the way business has been. I ussually do not have enough at the end of the month to pay the credit cards. Am I canidate for bankruptcy. If so, should it be Ch. 13 or Ch. 7?

 

[ihatearizona]

Does your list of monthly expenses adding up to the $1900 INCLUDE payments on your credit cards?

 

[bigun]

That's the big question? What does that $1900 include.
Also, you may have missed some expenses. Take a look at this calculator and see if you can find some more.

http://www.ca-bankruptcy-attorneys.com/calculators/expense_calculator.html

 

[joeyb_05]

The 1900 in monthly expenses don't include payments to the credit cards.

 

[bigun]

You may need to try and find a few more dollars worth of expenses. Most lawyers don't like to see more than $100 worth of disposablle income.
Most bk lawyers give a free initial consultation. Talk with a couple and see what they say.

FWIW, I would think long and hard about filing bk on $14K. Yeah, it's a lot of money but we've seen a lot worse.
Have you talked with your creditors about a hardship program? How about a pt job, etc.? BK is a big step. In my opinion, the size of the debt should be overwhelming to make it worth the future aggravation it'll cause.

 

[Who's Liable?]

While I think Bankruptcy is a good thing on paper... I see way too many people only do it to get out of paying off their Credit Card/Dept. Store card... There are people out there who do it because of some emergency family problem that becomes a money problem, and I think they should have that right to file... but like I said, there are way to many people who rack up their CC and file to skip out on paying...

I agree with bigun, claimng BK is much more than just filinf and watching your responsibilties go away... If you still possess the habits that got you 14K in debt and you dont educate or change the way you deal/view with money, you will most likely file again...