Do People Lead Regular, Happy Lives After BK?
Question: So, I may be nowhere near BK. Maybe. But’s in the back of my mind as something that I could see happening someday. We’re a middle-income couple (will make gross $75,000 to $80,000 combined) with baby on the way. We’ve about $29,000 in credit card and bank loan debt and will soon start paying on $30,000 in school loans. We own one car, but will need another. We just bought a house, so very little equity in it. We live in Ohio. Here’re my questions, and they’re filled with what ifs. What if, when baby comes, it becomes obvious we can’t pay the bills, which is what I suspect will happen. We’ll probably be fine until then, able to put some money toward debt to knock it down. I could even get a second part time job to cover some of the cost. I’ve been reading some of the boards, I guess trying to ease my panic and fears. I know BK is a huge deal. Nothing to slough off. Not a simple solution, but the “last resort.” And something I would like to avoid like the black plague. I’m not
