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Author: calder1 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 310995  
Subject: good alternatives to bankruptcy? Date: 10/28/2002 11:26 PM
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This is a first post to the board.

I'm meeting with a lawyer tomorrow to talk about bankruptcy. I've read Nolo, read Tyson, read most of what seems to be available here at Motley Fool, and am wondering whether anyone on the board has anything to add that I haven't read.

I'm a 48-year-old professional who had no debt until a divorce 10 years ago forced me to return to school and start over. Since then I've acquired about $30,000 in student loans (not dischargable, I know) and another $38,000 in unsecured credit card debt from uncovered medical, dental, moving, and living expenses. I net about $2500 a month, have no significant possessions other than a 2-year-old computer I use for work and an 8-year-old car. My primary reason for considering bankruptcy is that I'm having major health problems and can't just get a second job to help dig out; indeed, I'm concerned about keeping my job. I've had three operations for two different cancers in the past three years, and just to make it fun, ongoing neurological problems that may have been caused by the undiscovered cancers or may be tied to something else as yet undiagnosed. I will probably be changing jobs because I don't have the health to keep the one I have (it's physically demanding).

Basically, I think I need to discharge the debt I can and start socking money away in case I become disabled altogether. I don't have family or friends with money to borrow from and only a small retirement account thus far.

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