Hello!
I have been researching bankruptcy for a while and think it’s going to be the best option for me. I currently make about $84k a year, but due to bad spending habits in my 20s I have around $40k or credit card and personal loan debt. I also owe the government $8k in taxes from working multiple jobs in 2024 and not getting taxed correctly. That’s not including my car or student loans.
I have a small business that took a $8k loss in 2025. With that loss it puts my taxable income right at the cutoff for my state for Ch 7, which means I’d have to have the budget breakdown or test submitted to see if I could possibly qualify for Ch 7.
I pay the majority of household expenses, as my partner (not married or tied together financially in any way) makes much less than I do. I barely have about $400 disposable income each month and that’s being generous.
I tried a debt management plan that left me in collections, then ignored it for a year. I took a loan out of my 401k and paid off about $9k last year, but the last debts all want large lump sums to payoff or aren’t willing to work with my budget.
I live in SC. I also own literally nothing. I have no land, house, I still owe $23k on my car, I rent, I have no family heirlooms, no nice equipment, nothing.
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