![]() Towards the end of 2021 I decided to apply for an "installment loan" for 1300, with monthly payments of 500. You'd think after that I would have learned my lesson but sadly that wasn't the case. You need a fresh the years I've accumulated some really bad debt.my credit report currently lists around 8-10 charge offs from cards that were closed around 2017. ![]() My total assets would not even be $10,000. My question is this, would Chapter 13 be ideal or Chapter 7? I don't own a home or any real estate and I only own a beat up truck that I've barely kept running so I can get to work. Also I live in with a credit scores hovering around 550-610 I just couldn't keep up with it, the tribal loan is already in collections as well as the $1,300 loan. The payments in total to these companies was $1,280. In total if I payed all of the installments I would have payed $3,750. Got COVID and was stuck home and not working for 2 weeks, sadly rent, utilities and everything else doesn't care so I decided to take out a cash advance of $500 and as you might have guessed with eye popping interest of installments of $150 bi-weekly.Ī month after all that I received an invitation to apply for a tribal loan, with me being desperate needing cash and barely getting back on my feet I decided to apply. With my credit scores being so bad the interest is 250%. Over the years I've accumulated some really bad debt.my credit report currently lists around 8-10 charge offs from cards that were closed around 2017. 33 with a credit scores hovering around 550-610
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