My husband and I have our own business, but we are losing money each month. We have managed to pay minimums on all our credit cards up until now, but we have a Covid loan payment as well and are drowning in debt. Many months we make a payment to a card and use that card to pay a bill, so we’re never getting ahead.
When they do the means test for chapter 7 bankruptcy, is it true that they do not take into consideration the credit card payments and Covid loan payment we are making? If that is the case it will look like we have an additional $3000 to $4000 a month. That is so disappointing.
I suppose chapter 13 might be an option or a debt settlement program.
submitted by /u/Normal_Pepper57
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