Vorticity32 asked:


I have 4 personal loans and 1 credit card that totals 85000 dollars. I lost my job a couple weeks ago and could not even make the payments making what I was making… which is 49000/year. Now I have no real income coming in…

Would I be able to file bankruptcy. All the debt that I have is not stuff I just went out and bought. It was used to pay my medical bills I had years back and I do not have 40000 dollars cash sitting under my bed.

The problem is that all of the loans were taken out within the last 6 months, so real recent. I spoke to an attorney and he said it would look like fraud taking large amounts out in short period of time. But I had to because I was not making enough money to make the loans, so I had to take a loan out to help cover the extra I could not cover from my salary. Now it is out of control. How do I pay my rent and stuff now if I have no money coming in. I have 6000 in my checking account currently but that will not last more than a month since all my bills total up to 6000 a month.