Still undecided, please help

[jazzze7]

What is the name of your state?What is the name of your state? GA I do have another question. I know that the account with Sherman Acquisition has not reached the Sol yet. On my credit report it states the account was opened in 2003, but the last payment made on this credit card was 2002. So my question is does SOL start from my last credit card payment or when Sherman acquired the account and tried to collect? The amount is 8k and growing and my other debt all together runs about 27k and I am considering filing bankruptcy because of that account, but I don't know if 27k is too small an amount to file.

 

[bigun]

The SOL starts when you went into permanent default with the orginal creditor.
You don't give enough info as to the bk question. Nothing in the code specifies an ammount.
How much do you make, do you own a home and car with equity? If so, are they within the exemptions for your state?

 

[jazzze7]

The SOL starts when you went into permanent default with the orginal creditor.
You don't give enough info as to the bk question. Nothing in the code specifies an ammount.
How much do you make, do you own a home and car with equity? If so, are they within the exemptions for your state?

Right now I am receiving $350 a wk in workman's comp since Jan. of this year. I don't have a home and I own a car which is paid off. The only reason I am even contemplating bk is because of Sherman.
I appreciate your response.

 

[Who's Liable?]

Right now I am receiving $350 a wk in workman's comp since Jan. of this year. I don't have a home and I own a car which is paid off. The only reason I am even contemplating bk is because of Sherman.
I appreciate your response.

The best thing to do in your case is to file BK... You have to look at it in numbers...

You owe 27K in total bills plus 8K from Sherman, that is 35K that you owe... Youre bringing in 375/wk on workman's comp. That will not last forever, than you will be making 0/wk. 375X52 weeks(year) is $19.5K...

There is NO WAY you will repay the 35K... You're upside down...