file bankruptcy,or not !!?
I am a 64 year old widowed man ,who is in need of a major back operation to be able work,walk,stand etc.for the past six years .Ive seen many doctors and the operations they say I need I dont have the co-pay money even with insurance throw the state I have throw my deceased school teacher wife.(Ive been self emp for years ,and cant keep up,IVE SPENT THE EQ LOAN ON MY house just to stay going ,credit cards are max out and have no way to pay all this,im screwed! anyway I go ,so should file bankruptcy or just let thing go ????? into forclosers and charge offs,my previous good credit will be ruined either way but whats the better way for my further if there is any hope after this ??? I really need some helpfull advise. please !!!!!!!!
Posted August 2nd, 2010 in Bankruptcy Q And A. Tagged: bankruptcy, charge offs, credit cards, doctors, emp, eq, forclosers, helpfull, insurance, money, school teacher, six years.
I hate to say this , but if you do decide on bankruptcy, you should have the surgery preformed first, so you can add that to your debt.
August 2nd, 2010 at 2:18 amI don’t see what other choice you have.
Bankruptcy has become very difficult since the new law took effect….and I’m not sure you can go through with it with out losing any assets, like your home or car.
I really feel for you
I’ve spent most of my chronically ill life without insurance, so I feel for you. I know I never qualified, but have you checked your state’s Medicaid program? I assume a lot of your debt is medical–so that might keep you afloat.
If not, Congress in 2005 made it much harder to delcare bankruptcy–you’ll have to have 6 months of credit counseling and pay a lot of fees. Given your age, you might be able to get at least legal advice from the Area Agency on Aging.
There may be something you are eligible for. If not, you may just have to wait another year for Medicare and pray you can afford the surgery then. I wish I had a good plan for you, but when doctors got kicked out of controlling medicine decades ago by the government bureaucrats and insurance execs who knew better, we lost our allies.
August 2nd, 2010 at 2:18 amSorry to hear about your troubles. I have no experience with this kind of thing, so wouldn’t dare give (possibly bad) advice.
But I believe there are non-profit credit counselors that can give an opinion on your situation, either for free, or very low cost. Try your local phone book? And don’t pay anyone a dime until you have called a lot of places, some of these so-called credit repair services are really for-profit, and not helpful, IMO.
August 2nd, 2010 at 2:18 amThe answers on all of these posts are generally "bankruptcy is bad and is hard to file." Even with the Bankruptcy Reform of 2005, bankruptcy is not hard to file if it is necessary.
While bankruptcy does require consumer credit counseling before you file, and while there is a pre-discharge financial management course, you are under no obligation to complete six months of credit counseling. The pre-filing counseling lasts about two hours and the pre-discharge financial management course lasts about four hours – and that’s if you do not do your counseling online.
The reform of 2005 made it harder for higher income individuals to abuse the system. There is now a means test that will decide whether an individual should file Chapter 13 or if Chapter 7 is an option. If you are late with your mortgage payment, Chapter 7 is not for you unless you will be abandoning your home.
There are several things to consider. If you wish to save your house and you are late on your payments, you would want to speak to an attorney about filing Chapter 13. A good Chapter 13 plan can help you get caught up on your house payments and allow you to continue paying and you would only pay a small percentage of your unsecured debt. Most people pay between one and fifteen percent of their unsecured debt through Chapter 13.
Another option is Chapter 7. Chapter 7 is liquidation and under this chapter you can keep paying on your home if the mortgage is not late and you can discharge all of your credit card debt.
You should definitely make an appointment to speak to a qualified and competent bankruptcy attorney as soon as possible.
Best of luck with your situation!
August 2nd, 2010 at 2:18 amHave you tried getting on medicaid? I think you still have a year to go to qualify medicare but if you can’t walk, work etc,you may be eligible for disability. This won’t resolve your debt issues, but I suggest you see not only a bankruptcy attorney but also a social security disability attorney.
August 2nd, 2010 at 2:18 am