Should I file for BK or wait?
I'm kind of at a loss of what I should be doing... I live in Washington state.
I had very good credit until I lost my job in the end of 2007, right after I got a vehicle loan and a credit card with a $3,000 limit. My boyfriend also lost his job right around the same time. It took me about 3 months to find a new job, and him about 4, but in the course of those 3-4 months we ran up the cc to its limit and the truck was repo'd. I came to an agreement with the cc company to make monthly payments until I unexpectedly got pregnant and had to quit my job...
I had a few other debts that I have paid on as agreed/paid off, but I have not paid on either the balance of the truck, and the cc. I have never answered the calls from the collectors, never replied to the few collection letters I've gotten. The total between the two is approximately $8,000. I believe that the sol has run out on the truck loan, it was repo'd in March 2008. I paid on the cc till April 2009 I believe.
I haven't heard from a collection agency for several months, it may be as long as a year, but today I got a call from Asset Acceptance. I'm concerned that they may attempt to take me to court (I am not sure which debt they are calling on, as there are two). I have no job at this time, I am a full time college student with another year till I graduate. Now I understand that despite the SOL (whether it has run out or not) I still owe this money.
Would it be better for me to scrape together $600 and file for bankruptcy, or wait till I graduate and find a job and start paying off these debts? I know that $8,000 isn't much for most people, but it might as well be a million for a young adult in school, with a toddler at home!