I’m looking for some honest advice. I’m currently $15,000 in credit card debt and I feel like I’m drowning.
When I was 18, I was given some really bad advice by family who told me banks didn’t charge interest and that I could just pay it back “whenever.” Obviously, I found out the hard way that isn’t true. Between the interest and some difficult life situations, I’ve never been able to get ahead. I even moved out of a bad home situation and am now living with my boyfriend.
My Financials:
- Total Debt: $15,000
- Annual Income: $21,000.
- Credit Score: 520
I’ve tried paying it off, but with my low income, the interest eats everything I put toward it. My boyfriend is suggesting bankruptcy. He filed a few years ago after a medical emergency and his credit score is already back up to 800.
I feel like this debt has stopped me from doing anything with my life. Is $15k “too little” to file for bankruptcy, or is it worth it given my income? Has anyone else filed for a similar amount?
submitted by /u/Raudales14
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