I am considering personal bankruptcy and would like some feedback.
My income is in jeopardy due to economic conditions in the industry I work in. My income is in the 150-200K range.
I've racked up approximately $60,000 of credit card debts
. My auto loan is $28,000, the car is worth under 20K, and it is a lemon....long story, but the dealership hid the defects and has sweet-talked me into being complacent, until now.. I have an underwater condo with a current mortgage. Alimony and child support payments are huge, I am planning to engage a lawyer to seek modification. I own a SEP. I also own 50% of an LLC that owns a real estate property debt free that is about 200K, my half would be about 100K. I lease an apartment, ten more months on the lease, can't afford it. And one more auto loan, about 17K on a car "borrowed" by a relative, I can't afford this either, the car is worth about 14K. Okay, what do you think? My aging parents plan to leave their estate to me, as their only child. My credit has been excellent until recently; I've been victimized by unauthorized credit card charges and withdrawls from checking, it's been done by a hacker and friends of family and not sure who else.
Am I a good candidate for bankruptcy, and, if so, which one?