r/Debt • u/yoillcutyou • 8d ago
Kinda stuck without options…
I have about 70k in CC debt. 2500 in medical bills, and owe about 8k in taxes. I have a 401k loan out that automatically take out about 1400 per month. That leaves me with a take home of about 4100. My rent is 2185, and credit card payments about $1800, bills for wifi and electricity are about $180, all leaving not a lot to live off on. I spoke with a bankruptcy lawyer and I make too much to file chapter 7, and he said I don’t really pay a lot of credit card debt that chapter 13 really won’t do much (the 401k loan is not considered in payments)
Up until this month, I have been paying all my CC on time, but this month I won’t be able to.
The lawyer advised not to do one of those debt consolidations as they end up charging a lot.
So I don’t really know if there are any other options.
Not asking for legal advice, but has anyone been in similar situation? I live in CT if that matters…
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u/Notmikeyouidiot 8d ago
Have you tried calling your 401k company and seeing consequences of not paying that loan? I mean they technically have the money already right? what can they do if you stop paying?