Your reply is appreciated.
I don't own anything, and make $66,000 per year. I am being financially murdered by an ex-spouse. I am left unable to pay my bills and am stuck borrowing money.
I have substantial student loan debt.
Should I do a 7 or 13? I know the student loan debt can't be discharged. But really, if I do a 13, I am not paying anyone anything anyway, because outside of my normal expenses, everything else goes to my ex-wife.
Thank you. But my biggest fear in doing a 13 is that there is no money to pay anything. For instance, what money is there in the plan to pay? After my expenses, and I pay my ex-wife child support and the arrears garnishment, there is nothing left. So why then do I want to run this through a 13, which I would pay everything outside the 13 anyway? Does this make sense or am I thinking illogically? Shouldn't I then just try to do a 7?
I live in downstate NY. My commute to work is 2 hours each way. $66,000 is PEANUTS here.
the answer is appreciated. my query at this point is more hypothetical in nature.
i don't have any property. i rent. i have nothing that can be taken.
i can do a 13, but when all is said and done, there is no money left to pay anyone back - the unsecured creditors. so they wouldn't get anything in a 7 or 13 (all my assets are exempt - don't have anything, really).
so logically, a 13 can't be done, since no money can be paid thru the plan, because all the money goes to normal expenses, the garnishment, etc. so then if i qualify, a 7 would make sense, and then i'd continue to pay on the garnishment.
im more asking if the line of thinking there is logical, not for advice
i appreciated your responses to this point as theyve helped me understand quite a bit
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