Should We Go Bankrupt
March 7th, 2006 by Questions
Me and my girlfriend perchased a house in August. We had a hard time getting approved but finally we did. Our home cost us $129,000. We have alot of debt and just have enough to make ends meet. In January I found a big problem with the house. All the subfloors are rotten and we found mould. i called a contractor and the damage in the house is very bad. The damages could cost from 30,000 to 40,000 to fix. We simply cannot afford this much money specially since we bought the house only 6 months ago. We are going to take legal action against the previous owner but if this fails then we are scared that we’ll have to file for bankruptcy. When someone files for bankruptcy how do they look at the monthly income coming in. What is too much and not enough. We make about $3100.00 / month between me and my girlfriend but with all the bills we only have about 600.00 left ever month for misc expenses.