32yo $70K+ in debt. Thinking about filing Bankruptcy for 2nd time. Need opinions.

Contemplating a Second Bankruptcy: A 32-Year-Old’s Financial Conundrum

Navigating through financial difficulties can be a daunting experience, especially when faced with the prospect of bankruptcy for the second time. At 32 years of age, I find myself in a complicated web of debt, primarily incurred through high-interest sub-prime lending. With over $70,000 owed across various credit cards, personal loans, a car loan, and student debt, the financial strain is palpable.

The Breakdown of My Debts:

• Credit Cards (12): $25,000
• Personal Loans (4): $18,000
• Car Loan: $22,000
• Federal Student Loan: $4,000

Furthermore, there’s an unresolved $40,000 in student loans that somehow vanished from my credit reports after my initial bankruptcy filing—they remain a mystery today. The total tally of my debts stands at a staggering $70,000.

Monthly Financial Commitments:

Between credit card payments, personal loan installments, and living costs such as rent and car insurance, my monthly expenditures fluctuate between $4,000 and $5,000. This is on a backdrop of a fluctuating income from rideshare driving, which ranges from $3,500 to $5,000 based on demand.

Evaluating My Financial Position:

With minimal assets, a car that’s underwater, and an approximate $1,000 balance in my checking account, the financial outlook appears bleak. My credit score of 630 offers little comfort. I have no house, and save for basic necessities and electronics, little else to fall back on.

Career Challenges and Opportunities:

December 2023 marks a significant turning point as I lost my job in software development. Current prospects in the junior software developer market are dim. Despite ongoing personal development and career preparation, confidence in securing a new position remains shaky. My previous three and a half years of unemployment cast a long shadow over current job applications, despite my credentials, including a background in mechanical engineering and a stint as a researcher.

Adding to the complexity, my first encounter with bankruptcy was in June 2017, driven by low income and financial mismanagement. Though I have managed consistent payments since, the high interest continues to outweigh any progress.

Facing Uncertainty

I’m staring down a precarious path with limited options. Given that Chapter 7 Bankruptcy can only be filed eight years