[locolorenzo24]

Hi, I just recieved a noticed to appear in court over a DC account that is about 3000 way past due. I have not made a payment in almost 3 years. Due to my own poor money management skills and compulsive gambling, I've now decided to buckle down and take care of this.

I've reworked my budget and can pay about 170 a month to DC, and pay 100 to an old V account. Also, I'm in the process of getting rid of my satelite TV and finding a midnight shift job to not interfere with classes(for RN) and splitting that check between the two accounts.

Just not sure if it's too little too late to hopefully settle this old account and not sure what I'm going to do.

I own few assets. An 1984 Volvo & personal property is it. I rent, work a 10 buck an hour job and just don't know what to do after this. I want to settle this up and close it. Can't even afford the bankruptcy filing fees...(too poor to be poor)....

Any help would be greatly appreciated.....

[aaron]

What information are you looking for?

[locolorenzo24]

I guess I just want to know with an income of about 1500 a month, and 4500 in debt, should I file bankruptcy....I would hate to try to make payments, they don't accept, then I'm too late to avoid the bankruptcy law changes....

I know that the bankruptcy stay can halt the lawsuit...., but how much income can they garnish in IL?

I read in bankruptcy law book that it was 15% they could touch or 40 x minimum wage.......whichever was higher..... so they could take 228 a month.....which after I make payment of 171 to dc, leaves only 57 to Visa.....

[aaron]

If you qualify for a Chapter 7 discharge, assuming that all of your debts are dischargeable, you wouldn't be making payments after the bankruptcy is complete as it would resolve the debts. It is only through Chapter 13 bankruptcy that you end up on a payment program. You may wish to discuss your situation with a local bankruptcy lawyer.