I am in my early twenties and come from a middle class family, my mother worked two jobs and my father did too, just to keep the family stable and for our future. I made some bad decisions and got married young and divorced young and my wife (we were together for 5 years, married for a couple months) cheated on me and left me with nothing, I have $0 to my name and I am $30,000 in debt, I do have a full ride at one of the best universities in the country and I am graduating. I am in credit card debt and with interest, it kept piling and I once tried to help my older cousin get a phone and I put it under my name and a bill in collections of $1,000 came in the mail and I am in collections and I have 97% payment history so I have had missed payments.
Once I got a divorce, I lost my job and everything went downhill. My family has been helping me but I do not know if it is a good idea to file for bankruptcy, I would be 29 years old when it is off my record.
My credit score is 495
30,000 in credit card debt
All credit cards have been canceled by the bank
I have 96/97% payments paid on time which is bad
1 item in collections
It has been a hard time, I was 18, 19, 20 and 21 I felt like I was on the right path, I had American Express, a girl that liked me, at a good college, I meant well and was doing OK I thought and then once I found out my wife cheated and left me for someone else, my 4.0 went to a 3.0, went in more debt, lost my job, lost myself too. If I continue this process and since I am graduating, I can pay 30,000$ in a year if I try hard working, but can my credit be repaired, is it even worth it at this point? Or should I file for bankruptcy and start fresh?
I plan on going into law school and what not and bettering my life, but this financial limbo has caused massive havoc on me mentally. I feel low, I feel as if I have failed, I do not know what to do.
I did not expect any of this to happen but I had it all going for myself and when I stumbled, I stumbled hard on my face, I do not know what to do and would appreciate if someone could help guide me or give me advice on what to do. I would truly appreciate it.
Submitted May 20, 2020 at 08:18PM by theonlychildspeaks https://ift.tt/3bO2bj5
