Growing up in the suburbs of the Motor City, I have been embedded with a few simple rules. 1.Always cheer for the Red Wings! 2. Never go to Detroit at night and 3. Drive American. In the past, these rules have been pretty easy to follow. The Wings just won the cup, so how could I not cheer for them. I can’t navigate my to Detroit in the daytime so I’ll never make it at night and I can’t afford a new car so I’ll have to stick with my Ford. In the future, these rules might be a little harder to follow since the big three are in deep trouble. Most of Metro Detroit’s work force are employed by the Big Three so naturally, the numerous layoffs and buyouts have been a huge subject of local concern.
Michigan’s economy rides with the auto industry. Through hills and valleys, Michigan succeeds or suffers along with the Big Three. Since the auto industry, especially the Big Three, hasn’t been doing well, Michigan as taken a direct hit. The economy has taken a turn for the worst causing a shortage in jobs and a meltdown in the housing market. Its not hard for me to see the effect this has on my friends and family. Every time an auto maker announces another round of cuts, grim faces start to pop up all around the place. Its painful to watch the once proud community fade along with the car makers.
Although a government bailout would prevent the automakers from going into bankruptcy now, it would only delay the inevitable. The government should provide more funds and resources to allow for the Big Three to further develop hybrids and alternative fuel vehicles. Some might argue that a government bailout is unfair in a consumer driven market, but this is not the case. Having more auto makers only puts more pressure on the other to effectively research and produce alternative fuel vehicles. The overall result would be a vast amount of non-gasoline dependant vehicles manufactured at a cheaper price that would be more affordable for the average consumer.
Consumers will eventually see more options of lower priced hybrid vehicles if the government enacts assistance for the Big Three. Communities and families that are built and depend on the domestic automakers will also benefit greatly. Although a government bailout is not the most fair of things to do, it would restore a once joyful community in a small town called Canton.

thanks

Technorati Tags: alternative fuel vehicles, auto industry, auto maker, auto makers, automakers, bailout, buyouts, car makers, deep trouble, direct hit, driven market, gasoline, hills and valleys, housing market, hybrids, layoffs, meltdown, metro detroit, proud community, red wings

I’m afraid to file bankrupt but I want to move on from debt get a fresh start. What can I do?

Technorati Tags: fresh start

I lost my job just under two years ago & have been struggling to keep up with bills ever since. It’s actually somewhat amazing that I’ve lasted this long, but it’s coming to a point where there’s no way I’m going to be able to keep my creditors from filing for foreclosure and repossessing the vehicle.

I’m considering bankruptcy, it would probably be better for me to go ahead & do it now while I still have enough money to pay for the lawyer and filing fees, but I’m still worried that this isn’t the best way to go. I realize there are different types of bankruptcy, and that I may be able to keep the house & car if I have enough steady income & can work out some kind of deal with the creditors (I’m really vague about how this works, but that’s my basic understanding).

Is bankruptcy really the better alternative? Should I hold out until foreclosure begins to file for bankruptcy? What’s the best way to handle a situation like this?

Technorati Tags: amp, creditors, enough money, foreclosure, job, lawyer, types of bankruptcy

The F.B.I. on Thursday raided the office of a California solar company that borrowed 8 million from the federal government before filing for bankruptcy, as House Republicans announced that they would call two top Obama administration officials to testify about the case next week.

The federal agents, acting in a joint investigation with the inspector general of the Department of Energy, served search warrants on Solyndra, which announced last week that it was filing for bankruptcy protection. The search was part of an investigation into the loans Solyndra received from the Treasury Department that were guaranteed by the Department of Energy under a highly promoted federal stimulus program.

Solyndra was a leading beneficiary of the Energy Department’s programs to promote alternative energy, which were expanded as part of the 2009 economic stimulus legislation.

George Kaiser, an Oklahoma billionaire, is one of the largest investors in Solyndra through Argonaut Ventures and a family foundation, and he was also a donor to Mr. Obama’s 2008 campaign. The company had begun preparing its federal loan application well before the election.

http://www.nytimes.com/2011/09/09/business/solar-company-is-searched-by-fbi.html

Oh did I mention that you can subtract 1,700 MORE jobs that Obama has lost read the article

Technorati Tags: administration officials, alternative energy, bankruptcy protection, beneficiary, billionaire, california solar, department of energy, economic stimulus, energy department, family foundation, federal agents, federal loan, filing for bankruptcy, george kaiser, inspector general, loan application, search warrants, solar company, solyndra, treasury department

My GF has about 30k in debt…mostly credit cards Just found this out a few days ago and asked her to sit with me and tabulate everything. She has not defaulted on any part of it, but, I guess that could be a possibility down the road. Anyway, the only thing that I have my name on with her is the lease to our apartment (though the bill comes in my name and in the lease it specifically says that any money from the security deposit goes back to me and only me) Also, we have our names together on our internet/tv/phone bill.

I can cover these bills on my own if it becomes absolutely necessary. Obviously I don’t want to and don’t plan to…but I can if the only alternative is being evicted or having services cut off.

My concern stems from this. If a person declares ch 7, I understand that the creditors can basically take anything and everything you own. Would this have any impact on MY personal assets?

Thanks for your help.
Thanks to all who took the time to respond. I appreciate the help!

Technorati Tags: apartment, ch 7, credit cards, creditors, few days, gf, internet tv, money, personal assets, security deposit, thanks for your help, tv phone

Solyndra Not Sole Firm to Hit Rock Bottom Despite Stimulus Funding

Solyndra, the solar panel company whose highly publicized failure and consequent investigation by federal authorities has flashed across headlines recently, isn’t the only business to go belly up after benefiting from a piece of the 0 billion economic stimulus package passed in 2009.

At least four other companies have received stimulus funding only to later file for bankruptcy, and two of those were working on alternative energy.

Read more: http://www.foxnews.com/politics/2011/09/15/despite-stimulus-funding-solyndra-and-4-other-companies-have-hit-rock-bottom/#ixzz1Y3Uq2QVz
Anti-FoxNews wonks,
What have you heard that is substantial against FoxNews? Make your case.
Mortal Guardian,
Thanks for your support. I take it as an act of encouragement. I thumbs up ideologies that are against my own, because I think it’s important to encourage the freedom of ideas. More important than dictating what others must believe, I think. I accept other ideas, because people who disagree help to make us sharper in these times when the Truth of God is hidden behind a veil for so many of us. When He returns, then I think that people will have that mystery less indiscernible.

But anyway, thanks so much for your encouragement.

Technorati Tags: alternative energy, bankruptcy, economic stimulus package, encouragement, failure, federal authorities, foxnews com, freedom, guardian, headlines, mystery, rock bottom, solar panel, solyndra, thanks for your support, truth of god, veil, wonks

on 8 thousand dollars worth of credit card debt. I can’t pay the minimum, I’m months behind on them.

absolutely no one is hiring anywhere so before you give me your little complaints,
give me other alternatives as to how to pay this debt. otherwise, save it!
thank you. sorry if i sounded rude or mean, it was not my intention and I appreciate all HELP

Technorati Tags: credit card debt, intention, thousand dollars

I have a few qustions regarding chapter 7 bankruptcy – not sure if anyone would know the answers to any of them. I haven’t filed yet but it is a consideration.

1. I bought a new car last year – my father is the primary on the loan and i am the cosigner – how does this affect his credit? I am current on payments and will continue to be current.

2. My ex husband and I bought a house together when we were married. I am the primary on mortgage and he is second. In the divorce he got the house and modified the mortgage based on his income. If I file will that mess up anything with him?

3. I am an authorized user on my fathers credit card although I haven’t used it in years – will my filing affect this on his credit report?

4. I am in desperate need of a new bed – if I buy one before I file will this have any affect on the filing (not buying with credit – paying outright).

THanks for your help. I hate the idea of filing bankruptcy but Im now being sued because a creditor won’t work with me for a manageable payment plan (they want more than I make in a month). If anyone has any other alternatives I would appreciate that too.

Technorati Tags: chapter 7 bankruptcy, cosigner, credit card, credit report, creditor, current 2, desperate need, divorce, filing bankruptcy, manageable payment, mortgage, new car, qustions, thanks for your help

Italian Sports car?

To Conservatwits who answer no, if Ferrari’s bankruptcy is not proof that no one really wants a powerful Italian sports car, then why would you assume that Solyndria’s financial difficulties are proof that alternative energy technologies won’t work?

Technorati Tags: alternative energy technologies, bankruptcy, ferrari, financial difficulties, italian sports car

I don’t really know what does happen. My friend is under water on her house in Las Vegas, can’t rent or sell it & has decided to file bankruptcy. So what happens to her house now?

I tried asking last night & did not get much help, all any one wanted to do was tell her to do something other than the bankruptcy – I don’t want any suggestions about short sale, or any other alternative options. She has decided on the bankruptcy & I am ONLY trying to figure out what this means for her house.

One person said that she could give the bank possession of the house during the bankruptcy & it would turn into a foreclosure? I’m not sure I understood that correctly or not. Is that right?
Yes. she has other debt. She has been living in Las Vegas for 10 yrs – of course she has other debt. She works 3 jobs & still cannot pay all her bills.
Ok so when she files bankruptcy, it does not automatically get foreclosed on…right? She has to contact the bank to start that process…. Right?
The kid – I know that. She is NOT trying to get away with anything.

Her current jobs don’t give her any time to research. I sit in front of a computer all day & sometimes I’m not busy. I’m just trying to figure out what all she has to do – like if there is another step – like what acermill said.

Technorati Tags: amp, bankruptcy, foreclosure, jobs, las vegas, one person, possession, short sale, what this means

Pragmatically, indentured servitude would be a great way to repay debts without declaring bankruptcy, and maybe while still being able to keep your possessions. It could also serve as an alternative currency in some situations. Of course, this would be fixed term – the period of that servitude would correspond with the debt and such.

But of course there is the morality of personal freedom, and the question of whether that always transcends debt and whether it would be right to use such a thing as a currency or tool.

This was a subject in my Ethics class today, so I just want to see what other people (maybe not college liberal arts majors) think.

Technorati Tags: currency, debts, declaring bankruptcy, ethics, indentured servitude, liberal arts majors, morality, personal freedom, possessions

I HAVE SEVERAL OF THESE NOTICES FROM EMAILS THAT I DID NOT SEND…WHAT IS GOING ON? IT NEEDS TO BE FIXED!
AMY @ MOMMETIME@YMAIL.COM

<affiliates@snapfish.com>:
Remote host said: 554 5.7.1 Filtered [BODY]

— Below this line is a copy of the message.

Received: from [98.138.90.57] by nm4.bullet.mail.ne1.yahoo.com with NNFMP; 13 Aug 2011 13:21:16 -0000
Received: from [98.138.89.168] by tm10.bullet.mail.ne1.yahoo.com with NNFMP; 13 Aug 2011 13:21:16 -0000
Received: from [127.0.0.1] by omp1024.mail.ne1.yahoo.com with NNFMP; 13 Aug 2011 13:21:16 -0000
X-Yahoo-Newman-Property: ymail-3
X-Yahoo-Newman-Id: 305820.6511.bm@omp1024.mail.ne1.yahoo.com
Received: (qmail 3399 invoked by uid 60001); 13 Aug 2011 13:21:16 -0000
DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=ymail.com; s=s1024; t=1313241676; bh=5GXA567YLHvvkMr8YnZkOMgdfjfO9+5CzZ7c3/8NWOA=; h=X-YMail-OSG:Received:X-Mailer:Message-ID:Date:From:To:MIME-Version:Content-Type; b=fIO7rUI3YJzGkl5STBUoGaYbZBL7Y9jPJggCpQ2eM0jFt4FqWglXheXCNA64wuOysz1n8hCoZhNQrLICsviTFvQ9jRtu3sO9SVxZEmuyl64/XE/2PC4fznd2Emj4eMvxRURLFQal4LxIYmaS65jAPc3tp4RAKa+0jzzSvsFXYcs=
DomainKey-Signature:a=rsa-sha1; q=dns; c=nofws;
s=s1024; d=ymail.com;
h=X-YMail-OSG:Received:X-Mailer:Message-ID:Date:From:To:MIME-Version:Content-Type;
b=s6tUSPBZR/BYRo/r1TbA49MEEYUJhCqSGpTl7TPAHnxs18fhGP+ck4G9CJcLiW7LV/DrnuCUwLx8Y4ch+66ut9GbFD5PR8gTcXUoEaBpPPg4bDVcgxOnF7v8GZyopSzvcNV87SczN/tTtWoCSJiFW48O07QGq3SdPzTG2ffAWnE=;
X-YMail-OSG: e9JvVTkVM1mv2jJ.dIXrpEx6Cci8MdWvzQhRQlDNfx3AT_e
t00vwlhRp5f81P76vabxSC5Gt9suI60bB__qTd9a49yi5QZEIa0RU90Zql24
DbfDI8fBfdzqkGLpzRZypCvBvfmX_m7npQIEXuM1xdcVOuJTaWYwQbzmMxuv
zRppxms9trFwnXBDMwKd0H2xxNVm_Llv4eFprpZOSnpebvOyymjdQ7YdAUUi
.ShwTYFwmqbpmFLJ4IvwpLh1w.p.GRSf1VMvenM6rEK8ExuRBNDT_IwnunWY
bNP4rgqUBU8U8X.bIhqC40NiQuQJp_AigFrVPxnb68hKqw_klDcJdA4WoSLK
KDSAeLIh_O_fyfk04n8TXuOrzz2GipVSg5lFZEToxkaj_DlqLbMgByvzvCe5
4u2O4kAQaVYjhmj1Pv.qsCseBQdVwDu_BLgw.0.J7rza9RtVeKpbuDoHVUFB
m8LQU_cztKbHL88y.KY8PXHKJiPsdjAt5yNDe2c44uOgZkG4yftfyCAwt15D
_Ujku8Tpbe8O03OgcdEcYPVXSzvV.wOn9rUFsxZY0LVWLSlOqTV54ubuPXFr
KHGG_zx5ZqqHSmVlFzz8.XeX9wCVq4D5Fwn2_jhNjT9IrjODl9YdQ1JxeGHk
Ma.0jXh6L3phg7iXAdtUdwtOLJlxKfCc5cY7c7jBqUIvcSbHknVlWwALzpRe
O25I.bLc2ruPm4xyXR5fK3zA7ZQ–
Received: from [41.206.158.96] by web120201.mail.ne1.yahoo.com via HTTP; Sat, 13 Aug 2011 06:21:16 PDT
X-Mailer: YahooMailWebService/0.8.113.313619
Message-ID: <1313241676.16186.androidMobile@web120201.mail.ne1.yahoo.com>
Date: Sat, 13 Aug 2011 06:21:16 -0700 (PDT)
From: A A <mommetime@ymail.com>
To: "affiliates@snapfish.com" <affiliates@snapfish.com>,
"alicesbucketlist@aol.com" <alicesbucketlist@aol.com>,
"kimber_loo@yahoo.ca" <kimber_loo@yahoo.ca>,
"adutt@yahoo.com" <adutt@yahoo.com>,
"benandjerryluvr@yahoo.com" <benandjerryluvr@yahoo.com>,
"863de75128-r-614321@reply.theblogfrog.com" <863de75128-r-614321@reply.theblogfrog.com>,
"dancinganddishes@gmail.com" <dancinganddishes@gmail.com>,
"elsitconsulting@googlemail.com" <elsitconsulting@googlemail.com>,
"gruhn@webdonuts.com" <gruhn@webdonuts.com>,
"jill@scarymommy.com" <jill@scarymommy.com>,
"jillian@babble.com" <jillian@babble.com>,
"katya@skinmdnatural.com" <katya@skinmdnatural.com>,
"mail@marriedtoageek.ning.com" <mail@marriedtoageek.ning.com>,
"notifications@networkedblogs.com" <notifications@networkedblogs.com>,
"support@godaddy.com" <support@godaddy.com>
MIME-Version: 1.0
Content-Type: multipart/alternative; boundary="0-941692027-1313241676=:16186"

–0-941692027-1313241676=:16186
Content-Type: text/plain; charset=us-ascii

<p>it really hit me when I was forced to file for bankruptcy I had reached my wits end this really intrigued me…<br><a href="http://www.lib.ouhk.edu.hk/cgi-bin/redirect.cgi?nugifik=msn.com&kihoso=yahoo.com&url=http://abc-365news.net/esubmit/bizopp_ax.php">http://www.lib.ouhk.edu.hk/cgi-bin/redirect.cgi?nugifik=msn.com&kihoso=yahoo.com&url=http://abc-365news.net/esubmit/bizopp_ax.php</a> now theres no turning back for me I could never steer you wrong<br></p>

–0-941692027-1313241676=:16186
Content-Type: text/html; charset=us-ascii

<table cellspacing="0" cellpadding="0" border="0"><tr><td valign="top" style="font: inherit;"><p>it really hit me when I was forced to file for bankruptcy I had reached my wits end this really intrigued me…<br><a href="http://www.lib.ouhk.edu.hk/cgi-bin/redirect.cgi?nugifik=msn.com&kihoso=yahoo.com&url=http://abc-365news.net/esubmit/bizopp_ax.php">http://www.lib.ouhk.edu.hk/cgi-bin/redirect.cgi?nugifik=msn.com&kihoso=yahoo.com&url=http://

Technorati Tags: 0000, bh, content type, lt, mail, message id, newman id, osg, rsa, signature, type b, x mailer, yahoo, ymail

Ok. So my significant other is over her head and doesn’t make enough to pay her debts. Her income is less than half the median income here. A sample means test shows she easily and completely qualifies.

My question is this. She is going to have a hard time coming up with the attorney fees associated with filing (around here it seems to be 800-1500 bucks). I am curious how hard is it to file by yourself or if there is an alternative like a Pro Bono attorney option or discounts for low income persons.
EDIT: Her debt amount is roughly 30k. That is with medical bills WITHOUT college loans. Her monthly income is about 1200 bucks. Her monthly bills are more than that. That does not include food or gas. I am not looking for a moral lecture. She is doing this. I am trying to help her through it. She has exhausted all other options.

Technorati Tags: 30k, attorney fees, college loans, debts, hard time, income persons, means test, median income, medical bills, pro bono attorney

Beside the fact of me being told I have 3 days before I’m being kicked out the house, the b1tch that’s kicking me out is forcing me down the military route, my original plans were going to Bethune but I literally have the most uncooperative parents ever,the tuition is high, and that’s school is VERY family oriented.my parents would rather smoke w33d or watch "All My Children" before it gets canceled and judge me like I was the reason they are miserable.Brief financial and current situation. . . Father is ex military,literally f***ing psychotic(surprised one of us aren’t dead in all honestly) does get a retirement check but most of that is garnished from child support (bastard child). Hasn’t had a job in 2 years and they year before that he literally had 4 different jobs(quit them) and the job he has now is a entry level job scanning papers into Xerox machine part time (really hard huh?) and wait this is the best part . . . my mom helped him get that job . . . working in the same building. My mom’s job is fairly decent, credentialing specialist, nothing close to where she should be getting for her degree, but that’s another discussion.. They have been in Bankruptcy twice and have been kicked out-TWICE!!! (and they still have the nerve to criticize me on my trivial choices)Meanwhile I scored a 74 on my asvab (i know its average) and I been going back and forth to the recruiters office discussing certain things about the Navy and what they can do for ME. They can’t offer much but I’m very limited on choice so the Navy is where I’m stuck on going. The big discussion that me and the recruiter(s) have is ultimately is that , is this my choice on going or not.I truly don’t want to go to the military,I’ve been told I have a good foundation for it but I shouldn’t go because I just don’t want to go and I have no drive whatsoever to go in enlisted. They tell me I will be miserable. I’m going to be kicked out and soon anyways but whats the point of going into the military if i would probably get an ELS (if you don’t know what that is, you shouldn’t even think of giving me an answer anyways) But if I don’t go, I’m going to be homeless soon (that’s is happening regardless)

So I need alternative options (no snarky or just plain irrelevant remarks please!!!!!!!!!!!!!!!!!)
Ask me for additional details

Technorati Tags: all my children, asvab, bankruptcy, bastard child, child hasn, child support, choices, current situation, entry level job, good foundation, ing, military route, mom, navy, nerve, part time, recruiter, retirement check, xerox, xerox machine

The Democratic candidate has apparently won the New York special election for Congress by campaigning on a platform of kicking the can down the road. Apparently, demagogic attacks on Paul Ryan’s proposal to save Medicare by the Democrat candidate were the deciding issue.

I am certainly no fan of the Paul Ryan budget. It is deeply irresponsible to wait to balance the budget in 25 years. The government should cut its spending enough right now to have a balanced budget. If that is not possible for some reason (actually, it is, so long as Congress refuses to raise the debt limit), then the goal should be to balance the budget within a few years (the only budget plan that balances the budget within 5 years is the great Senator from Kentucky Rand Paul’s plan).

Yet, although I am no fan of Paul Ryan or his big-spending budget, it is disturbing that the Demagogic Party can now win elections in safe Republican districts by attacking any efforts to fix the problem and denying the very existence of the problem itself. If this continues, this country is doomed to bankruptcy.

If the American people elect extremists who want to bankrupt our country, then the only conclusion any reasonable person can draw is that democracy is an unworkable system and that we need to find some alternative. Already in Europe, efforts to fix the fiscal crises in those nations have led to riots (from Greece to France to the UK to Spain). In past generations, people throughout the West have elected irresponsible politicians who made promises on behalf of future generations (us) that could not be kept. Now when the bills have come due, it seems that demagogues now win elections by running on a platform of bankrupting their country. If the world’s democracies go bankrupt because the voters elected reckless demagogues to office, I don’t think any country will become a democracy again for a very long time. When democracy failed in Athens, it was over 2000 years later before anybody tried democracy again.

There is plenty of room for reasonable differences of opinion in a functioning democracy. However, there can be no room for fanatics who advocate bankrupting their own country and if such candidates win elections, that country is doomed.

Technorati Tags: athens, balanced budget, bankruptcy, budget plan, debt limit, demagogues, democracies, democracy, democrat candidate, democratic candidate, extremists, fiscal crises, future generations, medicare, paul ryan, politicians, promises, reasonable person, republican districts, riots

I need about ,500 in the next few weeks to pay for my summer classes and rent. I have already reached my limit for federal loans (FASFA). I can not get any more from the government in stafford loans subsidized or unsubsidized. I do not qualify for any grants ( Pell Grant, etc.)

My parents declared bankruptcy, so they cannot cosign for me. I have terrible credit myself, about a 530 credit score. I talked to the financial aid office at my school, and they told me my only option is an alternative private loan, i’ve applied for a few and was turned down by all of them. Are there any other options?

NOTE: I’ve already been turned down for the Parent PLUS loan, which raised my limits for stafford loans. I have already reached that raised limit.

Technorati Tags: bankruptcy, credit score, federal loans, financial aid office, grants, parent plus loan, parents, pell grant, private loan, stafford loans

Will my recent bankruptcy come between potential job/new career path?
I dont want to get into "why" I filed bankruptcy. I will say, I had no alternative.
Currently, I am in my 2nd year in college and I want to obtain employment while I am in school so that I dont have to take any more loans. I have put in a couple applications and have had one interview. Will the employer know when he interviews me that I have a bankruptcy? I have been told know days the employers dont even call ex employers because the only questions that can be ask are if the employee is rehirable? Is this true? I am concerned because if a new employer see’s that I have filed bankruptcy, and can’t get any good solid feedback from ex-employers then how will he/she know that I am a good prospect for the job?

Thanks

Technorati Tags: bankruptcy, career path, couple applications, job, loans, quot

I can’t open bank account because I filed bankruptcy. The banks will not accept because of that. I have been looking for alternatives and while googling I found a thing known as "online account". They say that to open online checking account, i make opening deposit with credit card. Whatever I pay with credit card is my online bank balance. And that then they will mail me checkbook to my house. For depositing check, they said I should scan and email them the check I want to deposit. And that they will use those scans to process the deposit. They say they will also send visa check card through mail, and it can be used at any ATM. Is this scam or real? The online check account site says initial deposit must be 500 dollars using credit card or western union. Is this real or scam?
Also that I should scan and email copy of my social security and driver license for opening of account

Technorati Tags: atm, bank balance, bankruptcy, banks, checkbook, checking account, credit card, driver license, googling, initial deposit, mail, open bank account, social security, visa check card, western union

I have a relative ("Lou") who is in debt. Lou is in his early 30’s. The debt is more than K. Lou seems depressed, and I believe spends (restaurants, clothes, etc) as an escape from real life. In the past, the family has repaid Lou’s debt without conditions, but every time more debt appears later. This time, the family offered to refinance the debt only if Lou hews to a budget. Lou is resisting the budget since it imposes controls that any adult might resist. Plus, Lou is worried about his life being in too much flux and not being able to guarantee he can live within the budget. The only alternative is for Lou to default on his debt. We don’t really want that because of the long-term implications of bankruptcy. We also worry about pushing Lou "over the edge". There is no drinking or drug problem. There may be a gambling problem. What do we do? Lou refuses to go to counseling.

Technorati Tags: adult, bankruptcy, budget, clothes, counseling, drug problem, gambling problem, quot, restaurants, term implications

Can you please look it over and tell me if there is anything I need to correct or change? I am writing a persuasive essay on Social Security and why people should invest there money in other places. In this assignment we are

Write three paragraphs, which combined will be at least 500 words, explaining why you will or will not use definitions and compare and contrast paragraphs in your final paper.

I intend to use definitions in my final paper. I think that doing so will benefit my essay and its readers, allowing my readers to fully understand the papers true meaning with definitions. It helps the readers to understand what the essay is trying to say and what the main points are trying to convey.
I have chosen to write an essay explaining why Americans should not to rely solely on social security as they retirement benefits. If my essay turns out to be successful, it will convince the readers to start investing in their own personal savings. To do this I will need to state why social security and its funds are slowly dwindling away in my essay. A definition essay will also supply much needed detail on examples that readers may not understand right away about the topic. Detail in an essay should be very important to any writer. Writers make sure that every essay they write includes plenty of detail instead of gloss. Sharp details pull the reader in and encourage them to read more; fine details also help build a stronger case for the point of view so including them in my essay will make my readers share my feelings toward social security. I hope to include resources from the Internet to back up my points further and fully explore options on finding other ways to start saving personal funds for retirement.
Dealing with compare and contrast, I was not aware that I used them as often as I do. While reviewing my paper I did not think, I had compared and contrasted however; I soon found that I had at numerous times. When I was explaining why Social Security may not be around by the time many people retire, I made sure to include steps one can take to be proactive when finding alternative funding for retirement; in this instance, IRA, 401K, stock options, and employee pension plans. However, the disadvantages far outweigh these benefits. The whole point of comparing and contrasting is looking at both the good and bad and seeing which carries more weight.
In the rough draft essay, it states why it may seem like a smart decision for people to put their future retirement funds into an investment besides social security. By maintaining the idea that your there money will recover, economic scandals in recent years have shaken the very idea of a safe investment. In my rough draft, it points out that a large number of people in recent years have diversified their investments, to avoid a substantial loss in the event of a company who invests into experiences a loss, such as bankruptcy. By indicating what they could do and highlighting the consequences, the draft draws out the short- term good and the long- term contrasting them. I think simply writing out comparisons can help the person create the bulk of his/her essay very quickly. Pre writing helped me to create my essay; by pre-writing I mean taking a piece of paper and writing down the advantages and disadvantages of depending on social security and alternate retirement plans. This will also help them to decide for yourself whether you can meet your needs rely remotely on social security when you retire or if you want to be proactive in finding funding options. In my case I am neither too young nor too old to consider looking into options for my retirement. One should much rather start investing money better to protect themselves in the future.

Technorati Tags: definition essay, definitions, feelings, fine details, money, paragraphs, personal funds, personal savings, point of view, retirement benefits, social security, true meaning, writer writers, writing a persuasive essay

have been laid off for a while. I have a personal loan, phone bills and about four credit cards. All my credit adds up to about 20k. I just got a new job and I am making about 2400 a month. My rent is 600 a month and I have about 200 monthly bills. All my credit went into collection agencies. Does anyone have any advice…Its not so easy just to pay it off because of my other expenses and settlements usually require 2 or 3 payments to pay off the whole debt. My loan alone was 8 thousand dollars. I want to pay all this off. Can you please give me advice how to pay it all off and than gradualy how can i rebuild my credit. Another option is bankruptcy…I live in New York. If I do bankruptcy, how bad would that affect my future. Also, would it affect me inheriting a house? Would it be a good option? I know it stays on my credit report for 10 years but can i still build credit after filing bankruptcy and how soon? thanks.

Technorati Tags: 10 years, collection agencies, credit cards, credit report, filing bankruptcy, new job, personal loan, phone bills, thousand dollars

I defaulted on approximately 0K worth of debt in 2006 which has obviously affected my credit score. I now have a very good job with 0K in household income. Additionally, I have K in cash as well as K in a 401K. I’m very stable – have been with my current employer for 5 years a mid level manager.

The poor credit will ‘fall off’ my credit report in three years. I have an opportunity to purchase the home I am leasing for approximately 0K.

Are there any legitimate lenders that will lend to someone with good income, employment and assets but a poor credit score? FHA will not consider me due to the outstanding ‘debt’ associated with the charged off accounts from 2006. Yes, I did attempt to file for bankruptcy, but got taken by an unethical attorney. I’m not interested in credit repair scams to allegedly ‘improve my score’.

I know there must be others in my position with everything except for the credit aspect. Therefore, I’m guessing there must be an alternative market to fill that niche.

Am I correct or am I way off base?

Technorati Tags: 401k, alternative market, assets, bankruptcy, credit repair scams, credit report, fha, good job, household income, income employment, lenders, mid level, niche, poor credit score

I have been married for awhile now but I wouldn’t say that I was happy. My wife constantly takes everything out on me. I find myself being more happy when she is away. I just got out of the hospital, while she was out of town, and rather than spend a night with my wonderful family…I get attitude about how I need to find a better job and she is sick of being the one to carry benefits. Could I do better…probably. However, with the job situation today…my job is 100% secure and I do make about 45K a year. So, not the poor house either.

If I leave her, I will be without health insurance since my company is too small to provide me with such and I have a chronic health condition. It would also probably mean bankruptcy due to the house. We also have a small child that loves it when we are together. My religion and views that I have held so strongly would dictate that I could not remarry without being outcast from my family and friends that I have known for over 20 years. My wife says she wants more of a physical relationship but it is hard for me to want to be physical with her when she puts me down so often. My wife plays the "good wife" when needed but a few times she has slipped up and said something with my family in the next room. They have asked me about it and I have assured them that it was an isolated event but it wasn’t.

I strong part of me doesn’t want to go but I don’t know if any alternative is better.

Technorati Tags: attitude, bankruptcy, chronic health condition, family and friends, good wife, health insurance, insurance, job, outcast, physical relationship, religion, wonderful family

Here is the situation, my wife and I are married and she is petitioning me to be a US citizen. We filed I-485 (Application to Register Permanent Residence or Adjust Status. USCIS send me a letter that requesting us to submit I-864 Affidavit of Support. I used my wife and one of my close friend to be my sponsor but their income does not meet 125% of poverty line (which is about K) since they are both students and do not make that much. We are really stressed out because it seems no one could help us. Is there any alternative way to find an sponsor? If I can provide a statement from my employer that showing that my estimate annual income is above the 125% of poverty line, will that help?

Also,my wife’s parents agreed to help us but they are also in the process of filing bankruptcy. Will that affect their process? From what I know, the I-864 is an agreement between the sponsor and the US government saying that if the immigrant (Me) can’t not support himself and need to take social welfare. The government may ask the sponsor to pay for it. So in theory, as long as I have a job that can support myself. it should not affect their bankruptcy process right?

Please help. Thanks
Thanks for the quick response. What if my 2010 adjust gross income doesn’t meet K. I’m getting a new job that pays much better (around K). Will a company statement from my employer shows that my estimate annual income help???

Technorati Tags: affidavit of support, bankruptcy process, citizen, filing bankruptcy, gross income, immigrant, new job, parents, permanent residence, poverty line, quick response, social welfare, us government

My wife is filing for bankruptcy and one of our creditor’s is Kay Jewelers. We bought our wedding rings through them back in 2008. We received a letter in the mail today saying that they may have a non-dischargeability cause of action against us if we don’t turn our rings over, which we really don’t want to have to do. I know that it seems like the sensible thing to do and we can’t really afford to pay off the debt. Is there any alternative to giving the rings back or paying the debt?
Thank you all for answering so quickly. First, I am not on any of her loans/ debts so it wasn’t really advisable that I file as well. The only thing I have in my name is my student loans and our car (which the person who helped us file our paperwork said we wouldn’t need to worry about since the title is in my name). With that said, while we were filling out our paperwork, there is a section that you get to put items that you would like to have exempt from the bankruptcy i.e. jewelry, clothes, electonics… and you’re allowed up to a certain value for each item. Our rings fell way below the limit so we were told that we could keep them. Lastly, and unfortunately, it was a secured loan so they are saying that the rings are collateral and they have the right to either take them back or have us pay it back.

Technorati Tags: clothes, collateral, creditor, debts, electonics, filing for bankruptcy, jewelry, kay jewelers, letter in the mail, paperwork, secured loan, student loans, wedding rings

I had a house that 100% financed, 90/10. When it foreclosed the fair market value exceeded the balance of principle outstanding to the first loan by 28k…pocketed by the lender. The second loan is in collections for about 80k…I don’t even make enough to pay basic bills, so am unable to pay this back or even make ‘reasonable payments’. 1) How is this handled tax wise? 2) Why didn’t the 28k excess go to the second lender? Or is there a way I could get the 28k from the 1st lender to pay directly to the 2nd to at least show good faith efforts? I’m overwhelmed and considering bankruptcy, but can’t afford the attorney fees yet so I’m seeking alternative situations.

Technorati Tags: attorney fees, bankruptcy, collections, fair market value, faith efforts, good faith, principle

I was laid off in February of 2009 and have not been able to find a good job since. I have been without medical insurance for almost 3 years and have to pay out of pocket for a required medication costing roughly 0 per month. I have moved back into my mother’s house (I’m 26) and I am overdrawn on my bank accounts every week just from paying off my car, my storage (I moved home from another state since I could no longer afford rent,) my medicine, groceries, and then attempting to make payments on my debt. I have spoken with a credit counseling organization (MMI) and they have offered me a plan by which I would pay them about 0 per month. This plan would entail 0 per month for debt payment, 5 for car payment, 5 for my student loan, 0 for medicine and 5 for storage of all of my possessions. This is 95 per month. It does not include food. It does not include emergency preparation. And it is also 0 over my monthly income.

Issue #1: I need a new job. On average, I apply for 20-30 jobs PER DAY. I have been told that, since the economy went bust, EVERYONE checks the credit of a potential employee. Obviously my current poor credit is enough to render me unhireable. If I declare bankruptcy, how much worse can (will?) my job hunting situation be? I currently temp at a front desk for just 30 hrs a week, no benefits.

Issue #2: I need to be able to move out of my mother’s house. She is very kind to have opened her home to me when I am in such need, and I try very hard to stay out of her way, but she makes it very clear that it’s a huge burden on her to have me around (I know she is right, but it makes it no easier). She is also 100% against me declaring bankruptcy, not only for the impact it will have on my life but for the stigma it will bear on hers. I need to be able to have my own place again. But, my current credit is so poor AND declaring bankruptcy would remain for 10 years on my credit report, that no one would possibly rent to me. Which is less devastating to a potential landlord? Terrible credit and a ridiculous debt-to-income ratio, or a recent bankruptcy claim?

Issue #3: My car is currently worth about k less than what I still owe. I have tried to sell it back to the dealership, they charged me k and even when I left the car with them, they immediately called me back to pick it up because apparently something in the undercarriage was repaired wrong (oh and getting my k back was a real hoot, let me tell you.) It has already been repo-ed once and I had to pay money I didn’t have to get it back. I have tried selling in private forums, I have tried refinancing, I don’t know what else I can do. No one will buy a car worth almost ten grand less than they’re paying. I want very much to keep it, but I can’t afford it. And yes, simply letting it go would COST ME MONEY. Dave Ramsay says, "sell the car." What would Dave Ramsay suggest in this situation?

Issue #4: I have no savings. If I declare bankruptcy, I will be living off of my income alone (my savings deteriorated during my time when I was unemployed, after which my debt increased exponentially. HOWEVER. If I declare bankruptcy and can divide my piffle paycheck so that at least SOME of it can go towards savings, then at the end of ten years when the bankruptcy falls off my credit report I will have something, instead of nothing. Or just…more of the nothing I have right now.

Issue #5: I can’t pay these bills. (see the price outline in the first paragraph.) Won’t these companies just sue me anyway, if I don’t declare?

Look. I love and respect my mother (who is not a financier.) I do not want to make her sad because her daughter went bankrupt before the age of 30. But let’s be realistic here. How much worse could my situation POSSIBLY GET if I declare, file for Chapter 7 and get my debts forgiven so that I may begin to rebuild.

I would very much appreciate ANY input, on a REALISTIC, REASONABLE alternative to me filing for bankruptcy. I have listened to "Financial University" by Dave Ramsey about 1000x and I’ve read Suze Orman’s books and seen her show.

It would bring me so much comfort, and I would so appreciate it, if my peers on yahoo who have experience or knowledge with this kind of thing could reach out and give me their honest, informed opinions.

Technorati Tags: 3 years, bust, car payment, credit counseling, debt payment, declaring bankruptcy, emergency preparation, front desk, good job, groceries, issue 1, job hunting, landlord, medical insurance, mmi, new job, poor credit, possessions, stigma, student loan

Gulf Oil Rig Operator to Sell Assets to Rival

Gulf of Mexico No Comments

By DANIEL GILBERT And STEPHEN POWER

HOUSTON—Seahawk Drilling Inc., one of the largest operators of shallow-water rigs in the Gulf of Mexico, on Friday said it would seek bankruptcy protection and sell its assets to a competitor, blaming the Obama administration for a crippling regulatory environment in the aftermath of the BP PLC oil spill.

Seahawk’s assets will be acquired by Hercules Offshore Inc., in a cash and stock deal worth about 0 million. The cash component will be million but could be upped another million if needed to pay Seahawk’s debt. Hercules will also provide the seller 22.3 million shares of common stock, valued at .36 per share. The number of shares would be reduced, however, if more cash is required.

The deal is subject to bankruptcy court approval.

On Friday, Mr. Stilley, in a statement, blamed the recent slowdown in Gulf drilling for a blow that caused the company to pursue Chapter 11 protection.

Seahawk was “forced to seek strategic alternatives only after an unprecedented decline in the issuance of offshore drilling permits following the Macondo blowout,” Mr. Stilley said, referring to the BP well that blew out on April 20, killing 11 workers and triggering the worst offshore oil spill in U.S. history.

Technorati Tags: bankruptcy court, bankruptcy protection, bp plc, cash component, common stock, court approval, daniel gilbert, gulf of mexico, gulf oil, macondo, offshore drilling, offshore inc, offshore oil, oil rig, oil spill, regulatory environment, seahawk, shallow water, stock deal worth, unprecedented decline

I have done everything I can to reduce my spending, and my interest rates (on unsecured debt), yet there are still so many demands on my income that I am still unable to meet my monthly obligations. (My VA Compensation was just "reduced" making my problems even worse). Due to the nature of my current "graveyard employment", I have been experiencing a great deal of trouble finding a second job.

Must Bankruptcy be my only solution? I entered into a Debt Management Program (to have interest reduced), 4 months ago. Until then, I had not even had a "late payment" in over 8 years (no longer the case thanks to the DMP).

I was forced to file Bankruptcy in 1999 (so it is about to be removed from my credit file), due to my divorce and excessive student loan payments.

Now I am about to "start all over again" due to my inability to obtain reasonable interest rates on my debts.

Can anyone suggest alternatives to Bankruptcy?

Technorati Tags: 4 months, 8 years, alternatives to bankruptcy, case thanks, debt management program, debts, divorce, dmp, excessive student, graveyard, interest rates, second job, student loan payments, unsecured debt

paycheck until he/she pays back the taxpayers if they have to go the hospital? must pay us back with no bankruptcy protection? maybe the gop would like this idea? I think it might not be a bad alternative

Technorati Tags: bankruptcy protection, gop, paycheck, taxpayers