File Chapter 7 or be a slave for 6+ years?

I have $35,000 in credit card debt. I am unable to find work in Michigan except selling on eBay, which is how I amassed most of my debt. I did well for a couple of years, but loss of sources, increased competition and slow sales over the past 2 years have left me living with my parents and barely able to make my minimum payments. I am not using my credit cards at all, and literally have no money left after bills, food and rent. (I do pay rent, which helps my Mom - it was actually her idea that I move home.) According to the online credit calculators, at my current payments, it will take me more than 6 years to pay off all my cards, that is if I can find the money. Should I just go ahead and file Chapter 7, since I%26#039;m probably stuck at my Mom%26#039;s house for the next several years, and will be lucky to find a job at Target? Would a Chapter 7 hurt my chances at finding a crappy minimum wage job? After being self-employed four years, I don%26#039;t have the resume to get a good job anyway.

File Chapter 7 or be a slave for 6+ years?

Yeah eBay%26#039;s new fees hurt tons of folks... Chapter 7 may be a GOOD idea at this point in time, but you need to talk to a lawyer about it, and it will cost a few grand to get everything done. But in the end, you wont have the credit card bill anymore. You need a GOOD lawyer because the way Chapter 7 is structured nowadays, some or all of your credit card debt may follow you forever - so a good lawyer will make sure that does not happen to you.

If you have a lot of stock left, and still have your eBay store running, even if limping along, you may want to instead look at selling your entire business - the eBay store, the stock and the business name. A pre-established business and someone with some fresh ideas may make a good match. Maybe someone will be willing to pay you $40k for everything or something like that.

File Chapter 7 or be a slave for 6+ years?

Personally I wouldn%26#039;t file Chapter 7, I would be a slave. The problems that can follow you after filing are horrendous. I%26#039;m not sure how old you are but I would think that you would not want to still be living with your mom in 7-10 years which is how long this stuff can affect you, think about buying a house one day and all the stuff that comes a long with it. Why would you want to risk that.

File Chapter 7 or be a slave for 6+ years?

what do you think is best to pay 35k in 6 yrs or start from 0 and rebuild your credit? go for it.