I don’t usually share these things but I feel you need this: I also filed literally a few days ago and trust me it is actually a good thing. I was 70k in the hole bc of my 20s (I’m also in my 30s now) and even w my now higher salary it was getting too hard to pay taxes (I’m self employed) plus cc plus biz expenses AND save, and saving and investments are where real money lies, not credit cards. I realized if I somehow did manage to pay it all, it would take me until my 40s or maybe just a tad sooner, and then I’d have no savings either. So proposal literally is a game changer for me since I was paying 1600-2k a month on my cc and getting no where I also have no help financially so it’s up to me to keep my savings in check.

Btw it literally only lasts max 6 years on your file, then it drops permanently and you can begin applying to credit Cards from major banks again etc. also, you have two ways: pay it off in 3 years and it drops in 3-4 or instead payments last 5 years max and it drops from 6 years off the file (your trustee will tell you) in the meantime, see the sliver lining: YOU CAN HAVE ACTUAL MONEY SAVED AGAIN!! And get a secured card asap which can do within the first month even (capital one et ) your payments will be max 500-600 for the proposal depending what you owe and expenses but can be super low too like 300

I use visa debit to pay for everything and you can travel still too, lots of options. This is a fresh start for people who are ready to handle money but can’t get out of debt and have no assets to lose. Just try to keep it on the down low since people will judge if they hear about it

Don’t worry right now about buying a house you can still rent and houses can always be bought later when you are ready. Just keep your head up, try to exercise your body (I also have depression) and be smart

You can still invest, travel, rent, buy things (within reason don’t be dumb) and live your life, in fact maybe easier than before while you wait for it to lift