Hi,
I live in NJ
I have yet to file for bankruptcy and my credit is shot
I wanna move out and also get a new car bc according to Carvana my car is worth 1,900 but I owe like 8-9000 or so. The car is beat down and I want my own space. What do you guys think my steps should be if I want a studio/ 1 bed 1 bath appt and a new car. Mind you I haven’t started saving since I got my new Job. I get paid around 1,450 biweekly. Btw I am not looking for a luxury apartment, just a space to call my own. I feel kind of impulsive where I had already inquired about places on facebook market place. Can someone advise me how I would go about achieving these things? How much should I save? When should I file for chapter 7 bankruptcy? Do I get a new (used) car before/after? Its hard to get a second job but I guess I am open to it, I have worked 2 jobs for years. I just want free time to be honest because I hate being burnt out.
Thanks!
Ch 7 Bankruptcy + Next Life Steps
byu/nenanoche87 inpersonalfinance
Posted by nenanoche87
3 Comments
build a small emergency fund, file then look at housing and a reliable used car after discharge.
What type of debt beyond the car do you have?
Assuming this is not just rage bait…
Write out some data and then come back with it.
Income. Expenses. Assets. Liabilities.
And you will likely need to have a long hard re-evaluation of short term goals. You need to recognize that your goals as currently defined in the OP may not actually be realistic.
—
All financial planning starts with a budget.
Your budget is your map. Formulating a plan without a budget is like trying to plan a road trip without a map.
Start with your map.
This will help to determine a financial plan.
* https://www.reddit.com/r/personalfinance/wiki/budgeting/