Debt is about 182k spread across 13 lenders. Mix of credit cards (Chase 23.5k, Wells Fargo 14k, Discover 10.5k, GS 4k) and personal loans (SoFi 37k, Lightstream 27k, DCU 15k, Reach 14k, Upstart 10k, Affirm 8k, Regional 7k, NetCredit 5k) plus a 2k payday loan I regret. Minimums total about 6700/month. My take home is about 7000/month. So yeah, the math stopped working. Haven’t missed a payment yet but the first ones I can’t make are due July 15.
House bought an 3 years ago, owe 406k, worth maybe 480-500k, current on it. Car loan 4k left, want to keep it.
Already talked to two NFCC agencies. Both could only enroll about 85k of the debt (SoFi, Chase, WF, Discover). The rest of my lenders don’t participate. One counselor straight up told me in writing a DMP probably isn’t realistic for my full picture and to talk to a bankruptcy attorney. So here I am.
Questions:
- With 215k household income I’m assuming ch 7 means test is dead on arrival even filing individually since spouse income counts. Anyone in TX with similar income actually pass on the second step with high housing costs? Mine run about 4200/month with mortgage, property tax, insurance.
- If ch 13, any ballpark on what disposable income calc looks like for a situation like mine? Trying to figure out if the plan payment lands anywhere manageable.
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