Gr8ragu
New Poster
Cash: $ 0.45
Posts: 2
Joined: 04 Jan 2009
Location: Nevada
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| Declare Formal Bankruptcy or Informal Bankruptcy |
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1. My house will go into foreclosure within the next 6 months - loss of 2nd income - boyfriend lost his job and didn't get employment for 5 months - we are too far behind now;
2. I had borrowed against my credit cards hoping he would get a job soon and did not - I am now $80,000 in debt with the credit cards
3. Question - should I formally declare bankruptcy - IE: go through the courts or just not pay them and let them fall into charge offs - really - what is better in the long run
ALSO
4. With the house in foreclosure - am I responsible for the balance or has the IRS extended that "forgiveness" through 2009 and beyond?
Thanks
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