I'm going through credit problems right now and thinking of filing BK. I owe $25000 in child support for the past 2 and 1/2 years and it has increased to $45000 as I have not been able to pay. So the interest just kept adding. I don't think I'll be able to pay it in near future too. So I'm scared as to how much the amount can go in the next 3-4 years. Everytime I try to obtain a credit card, the child support shows up on my report and I'm denied any credit. what should I do now?? As for the details, I need t pay around $800 as child support, total cc payment per month is $1200. Total amount to be paid on credit cards is $30000. I have an auto loan for which monthly I pay $600 and my cell phone bill comes out to be $85 monthly. I don’t make big purchases and don't have to bear all expenses on food and rent as I'm staying with a friend of mine.
More...
(Source: mortgagefit.com)