Dave Ramsey

Chapter 7 is the clean slate where the student loans are not bankruptable, but the credit cards get zero.

And in order to file a Chapter 7, you have to pass what they call a means test, meaning they look at your income and any assets that you have.

And when they see you have $50,000 and make $87,000 a year, you're not going to pass the means test.

So you're going to be forced into a payment plan in Chapter 13, which is five years, 60 months of paying payments on the credit cards.

You can put the student loans in there too, but they get paid in full.

The credit cards can be paid all or a portion of in Chapter 13.

In your case, they're going to get most of it anyway.

So are you delinquent on the 108 on credit cards?

I think you could probably settle...

the credit cards for the 50 or something like that.

Okay.

If you, if you, if they went seriously delinquent, they're not seriously delinquent yet.

Um, but, and it'll, it'll be a long, it'll be, you know, a year and a half while your heart is broken over a 30 year marriage ending and you're fresh trying to get a fresh start.

You're going to have a lot of work to do here.

Um,

I've got another idea.

The guardian litigation people that we work with, this is what they do.

They negotiate with them when you're in default.

And they're very, very good at it.

I just had lunch with the CEO the other day and was listening to their whole process.