I used to make 170K per year but lost my job last year and fell behind on EVRYTHING, all of my credit cards are charged off, my 2 cars have been repoed and I can't even get a car at a buy here pay here lot...now I make less then 30K, should I declare bankrupcy chapter 7 in Florida?
My standard answer is, "contact an attorney to discuss your situation." If you can give an attorney in your area a brief overview, they or their staff will help you determine whether bankruptcy seems like the best option for you, and whether you should meet with them in their office. An attorney will also help you determine what type of bankruptcy you qualify for. You haven't indicated what your total debt is or what your future income prospects are, so definitely mention these to any attorney you contact. Unfortunately, the economic downturn and the mortgage and housing "meltdown" mean that your situation is fairly common. Best of luck to you.
You sound like a strong candidate for a Chapter 7 bankruptcy right now. I would definately go see an experienced bankruptcy attorney. This is especially true because if you start making the kind of money you used to make, you will not qualify. Go now.
Furthermore, what many people don't realize is that the sooner you file, the sooner your credit score will get back to 700+. With a bunch of debt on your credit report and a low income, your debt to income ratio is to overloaded for your credit to improve. Think of it in common sense. Would you rather loan money to someone who owes nobody any money, or the person who owes a lot of money?
Creditors are the same. They don't want to compete with other creditors to get paid. So clear off your debt and get a fresh start. Don't buy that junk about bankruptcy ruining your credit. When you are up to your eyeballs in debt and have a low income, you credit score is worse than someone who filed bankruptcy two years ago and has since paid all their bills on time and has not debt.