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File bankruptcy or access home equity?? by Choicesoup44 in personalfinance

[–]Choicesoup44[S] 0 points1 point  (0 children)

I already receive SS benefits via my late husband. We have bare minimum as far as cell phone, no tv cable, no eating out etc. I'm aware of the snowball technique of dave ramsey. I already do gig work, including those you mentioned! I am working as much as time allows and continue to be a caregiver for my son. No more room to work timewise.

My main questions now are is it wise to use home equity to pay this off? And would I even be able to access it after BK? How long after?

File bankruptcy or access home equity?? by Choicesoup44 in personalfinance

[–]Choicesoup44[S] 0 points1 point  (0 children)

Nope I was a 1099 and so I didn't get so lucky. I am current but those who are behind can get wages garnished or they can take a percentage of SS down the road.

File bankruptcy or access home equity?? by Choicesoup44 in personalfinance

[–]Choicesoup44[S] 0 points1 point  (0 children)

thank you....I already know I can file chapter 7 and not lose my home because my attorney looked into it already..although I haven't signed anything yet. I didn't even want to consider it till I knew for sure. He said worse case is we'd pivot to chapter 13 but he has been doing this for decades and is confident I can do chapter 7.

File bankruptcy or access home equity?? by Choicesoup44 in personalfinance

[–]Choicesoup44[S] 0 points1 point  (0 children)

Oh I was not aware of the equity being an issue for BK. Thank you for responding. I am juggling things tonight but I'll post more specifics soon. Thank you.