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Credit Counseling Fails - Keep Car In Chapter 7 Bankruptcy?

Question:  I am currently working and cannot afford to pay my bills. My rent is $875 a month, I have to pay my own utilities, conedison and national grid. My car is leased and I need it for work since my job is not bus accessible. My car payment is $353 and my insurance is $406. I work for $2004 after taxes a month.My husband recently lost his job and has had a hard time getting one back. I am currently on a credit counseling program which consolidated my credit card payments into one, but no longer can afford this since I wouldn’t be able to pay my rent. My debt is $7001 with a low interest rate. My monthly payment for them is $254. I would like to keep my car, so please advise with the right decisions.Thank you.

Answer:

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You're behind on your bills. You've tried credit counseling but it's not working for you. You're barely making ends meet, plus your husband isn't working so you've got to support the full household on your income. If you haven't looked into bankruptcy, now may be the time to do so.

Filing for bankruptcy doesn't mean you need to give up your car, nor does it mean you've got to involve your spouse beyond some basic information.

You've done everything you could to avoid bankruptcy. Now it's time to serious consider it.