My question involves bankruptcy in the state of: Texas
Here's my questions, I have a few and not all of them are about bankruptcy. First off, I don't make much money at all, I used to, now I don't and can't afford the bills that I do have. I'm upside down in everything I own. So here I go....
(estimates)
I have a Auto Loan- for lets say $18,000, The truck the loan belongs to, does not run. The motor is good. Body is perfect and everything. The motor is just out of it at the moment and needs a little work. Blown cyclinder head. I've been working on it, what I can (I now work my butt off and can not even afford th time to work on it, much less the money). I've made all payments up until now, and now, I just can't make them anymore. I don't have a home, I'm having to move into a apartment to get out of my girlfriends dads house, and I have a baby on the way. What are they gonna do about me quitting payment? Mind you, I have not filed for bankruptcy yet but, I plan on doing so this weekend (01-30-2010). Or at least taking steps towards it. BTW my credit is already below average and its considered poor.
I also have a motorcycle (dirt bike) payment- let's say I owe $5,500, I have not missed a payment yet on it. I can barely afford it either, and with the new apartment I'm getting, need comes before greed and I will pay my electric before this moto for sure. It runs great. Its just in another state at the moment. Honestly dealer would probably get his money back from this one.
I have a few credit cards, they probably equal around $3,000 if that. Just little odds and ends cards.
I make $10 a hour, and get 50 hours a week... (sometimes I'm not so lucky)
I need to know what I can do. Before.... I made great money, rolling in around $1,500 a week and now, I'm barely getting that a month. My monthly bills, without insurance and cellphone bills....run $900. Now with all necessities.... not to mention a soon to be baby... and rent for an apartment (which would add a total of $450, plus electric and water) My bills are, $1400. My bills alone. Keep in mind I have a girlfriend. And she works, but barely makes $100 a week. So basically I pay her bills too.... which add up to about $700 bucks... so I'm looking at paying about $2,100 a month. With the apartment... $3,000 a month.(not including diapers) (Calculation may be off a little)
I just don't know what to do anymore. I'm young. My credit means nothing to me, all it has done is get me in trouble. I need help. I'm talking to a bankruptcy attorney this weekend. I just need to know what the bank is gonna do about my truck, and everything else. Do I need to be behind on payments? Because soon enough, i'm gonna be no matter what. Only way I could stay on top was living with my ladies dad. And he's not allowing it anymore.
Also, say my girlfriends name is on one car we have financied together.... would my bankruptcy affect her? I think she's the main person on the account, the co signer.
I need help. What actions do I take? What do I need to do? Will my wages be garnished before I get the chance to file for bankruptcy? And which am I most likely qualified for?
Forever in debt til the day my bankruptcy goes through
-Rick

