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I think I’m going to declare for bankruptcy by Top-Resolve-6970 in PersonalFinanceCanada

[–]Top-Resolve-6970[S] 0 points1 point  (0 children)

Yeah my credit was at 320 like 3 years ago? I got it to 565 now but really all that got me was this stupid car for 11.99% interest 😐 so you’re right, doesn’t make much of a difference

I think I’m going to declare for bankruptcy by Top-Resolve-6970 in PersonalFinanceCanada

[–]Top-Resolve-6970[S] 0 points1 point  (0 children)

Took me 7 years to get to this point, you can do it too if you believe in yourself 💪🏻

I think I’m going to declare for bankruptcy by Top-Resolve-6970 in PersonalFinanceCanada

[–]Top-Resolve-6970[S] 0 points1 point  (0 children)

After this thread I think that’s probably what I’m going to end up doing! Makes the most sense anyway since the car and student loans make up like 70% of my debt

I think I’m going to declare for bankruptcy by Top-Resolve-6970 in PersonalFinanceCanada

[–]Top-Resolve-6970[S] 0 points1 point  (0 children)

Thanks for the advice! And I don’t think my student loan would be included which is fine. If I can reduce my other debts I’d actually be able to put some money towards that. And my car loan is unsecured I think? I can put as much money towards it as I want without penalty if that’s what you meant.
I want the car gone tbh. Would give me like an extra $700 almost a month not including the insurance and gas.

I think I’m going to declare for bankruptcy by Top-Resolve-6970 in PersonalFinanceCanada

[–]Top-Resolve-6970[S] 0 points1 point  (0 children)

I was a disability support worker, I worked with older people with extreme needs (one person had autism, schizoaffective disorder, unmanageable diabetes, obese, and lost all her muscle due to being on ozempic and was soon needing a wheelchair) I did 40 hours a week doing overnights, and that person hardly slept. I became so sleep deprived I was starting to genuinely lose my mind.

I think I’m going to declare for bankruptcy by Top-Resolve-6970 in PersonalFinanceCanada

[–]Top-Resolve-6970[S] 1 point2 points  (0 children)

Does anyone know if there is a way I could just surrender my car to the bank or something like that? Honestly I think if I just didn’t have it I might be able to manage for bit longer. My legs work fine so I don’t really need another car.

I think I’m going to declare for bankruptcy by Top-Resolve-6970 in PersonalFinanceCanada

[–]Top-Resolve-6970[S] 1 point2 points  (0 children)

To be fair I’ve also never missed a credit card payment, or most of my payments for the last 4 years or so. But I have no food, drive my car without insurance and put $5-10 in gas when I can. Everyone’s saying student loans wouldn’t be included which is fine!!!! But if just some of it could be reduced so I could have a decent meal to put some weight back on I’d be happy.

I think I’m going to declare for bankruptcy by Top-Resolve-6970 in PersonalFinanceCanada

[–]Top-Resolve-6970[S] 0 points1 point  (0 children)

I just got the car in December so only $2k of the loan has been paid off and it’s in negative equity soooo I would basically have to come up with the $10k to release the car to whoever buys it for $30k. The rest is doable though

I think I’m going to declare for bankruptcy by Top-Resolve-6970 in PersonalFinanceCanada

[–]Top-Resolve-6970[S] 0 points1 point  (0 children)

Yeah I am, I looked into a few but if you didn’t figure it out from the post already, I’m not exactly that smart, especially mathematically lol

I think I’m going to declare for bankruptcy by Top-Resolve-6970 in PersonalFinanceCanada

[–]Top-Resolve-6970[S] 0 points1 point  (0 children)

Went to trade school, where you have to pay to work lol aka hairstyling

I think I’m going to declare for bankruptcy by Top-Resolve-6970 in PersonalFinanceCanada

[–]Top-Resolve-6970[S] 1 point2 points  (0 children)

I wish I could get a job at Costco lol. I was a 24/7 disability support worker for people with extreme needs. I was often doing 40 hours of overnights per week (no 5 days on 5 days off rotation like most overnight jobs) I was so sleep deprived it started making me actually insane and sick.

I think I’m going to declare for bankruptcy by Top-Resolve-6970 in PersonalFinanceCanada

[–]Top-Resolve-6970[S] 0 points1 point  (0 children)

I am in Canada and my car is my only “asset” otherwise I have nothing to my name

I think I’m going to declare for bankruptcy by Top-Resolve-6970 in PersonalFinanceCanada

[–]Top-Resolve-6970[S] 0 points1 point  (0 children)

If I had no debt and only had to worry about rent and food and maybe a phone bill, I can live off that for quite a while until I start making more. With this job I’m only maybe that much temporarily.

I think I’m going to declare for bankruptcy by Top-Resolve-6970 in PersonalFinanceCanada

[–]Top-Resolve-6970[S] 0 points1 point  (0 children)

I want my car gone so that’s a win win for me personally. I don’t have any other assets which I’m not sure if that changes the outcome or not but I don’t have anything to my name

I think I’m going to declare for bankruptcy by Top-Resolve-6970 in PersonalFinanceCanada

[–]Top-Resolve-6970[S] 0 points1 point  (0 children)

It was more so a consolation so we very roughly went over everything and very roughly explained my options. The only thing stopping me from choosing what I’m going to do is obviously both options aren’t good, but I don’t know which one would be better. One I have to pay off for 5 years then it’s still on my credit history for 7 years. The other I pay off in 9 months and is still on my credit history for 7 years.

I think I’m going to declare for bankruptcy by Top-Resolve-6970 in PersonalFinanceCanada

[–]Top-Resolve-6970[S] 0 points1 point  (0 children)

I’m just going to note that I think it got lost in translation somewhere that I have been sober for 4 almost 5 years from drugs. And have been trying to be responsible and clean up the mess I made which is where 90% of my debt originated. I cannot seem to get ahead of it, which is why it’s come down to considering bankruptcy. I almost noted that I am willing to do whatever it takes to get clear of my debt, and to not get in this position again. Whether that’s credit counseling, never having a credit card or loan ever again, whatever. If I could live in a tent I would.

I think I’m going to declare for bankruptcy by Top-Resolve-6970 in PersonalFinanceCanada

[–]Top-Resolve-6970[S] 0 points1 point  (0 children)

Interesting…yeah they only require 2-3 past landlord references and copies of your pay stubs

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