Is there a minimum of debt I have to have to file bankruptcy in Pennsylvania?
Also do you know of any bankruptcy lawyers in the Western PA area?
Basically I went into debt consolidation through a non profit organization. I paid them one monthly payment and they dispersed it to all 3 of my creditors.
They have had problems with American Express accepting a proposal, or accepting a proposal then a month later saying no they wanted more than that. So basically they defaulted my account 2 times for this proposal problems and now they want immediate payment of ,300. I do not have that kind of money. I go to school full time, live it at home, drive a car owned by my mom, and work a part time job.
I have tried compromising with them, but they won’t budge. And my mom won’t bail me out because she feels I need to fix this myself. I know bankruptcy is a major step but I am just trying to look at all of my options.
Also if you know of anyone who has gone through a similar situation with American Express let me know. I would love someone to talk to about this.
Yours is a classic example of some of those rip off agencies, they take your money, leave you high and dry and don’t rely do anything.
As far as bankruptcy goes, here are the new rules.
Bankruptcy Abuse Prevention and Consumer Protection Act of 2005
With limited exceptions, people who plan to file for bankruptcy protection must get credit counseling from a government-approved organization within 180 days before they file. They also must complete a debtor education course to have their debts discharged.
As you can see it’s not simple anymore. I will provide you with the links to find a govt approved agency to help you with this.
Hope this is of help to you.
March 10th, 2010 at 11:53 amhttp://www.usdoj.gov/ust/eo/bapcpa/ccde/cc_approved.htm
Govt approved credit counseling agencies.
http://www.ftc.gov/credit
FTC WEB SITE
I have an American Express card but, I did go through Chapter 7 bankruptcy though. If you want to stop the harrassing phone calls and debt collection you will need to file for bankruptcy.
Bankruptcy advantages are it grants you an "automatic stay" which means that anyone you are falling delinquent with meaning your creditors can not call you, email you, or talk to you until you meet with them in bankruptcy court. Then once you have your appearance you will then be able to make a payment plan. You will be able to repay them or not depending on what bankruptcy you choose.
Most of them now are chapter 11 or 13 which is given by an attourney or by yourself if you go to a pre paid legal company.
Most likely I would consult with an attourney before doing this but you will just have to make sure that you have your creditor and all your info available.
Most of the time when you do bankruptcy their are several loopholes that you must make sure that you have abided by this whole time.
Make sure that you haven’t used the credit card less than 90 days ago for a large amount because the creditor may fight the suit and make you pay the whole amount.
Make sure you have been up to making payments if you charged or maxed out the credit card and have missed payments in the last few months that you have documentation of that.
Lastly make sure you bring all your info to the attourney because if you miss disclosing one creditor your bankruptcy may be revoked.
Thats about it. Just wanted to let you know about my experience with bankruptcy. Well I hope everything goes well with yourself. Let me know if you may have any other Q’s
March 10th, 2010 at 11:53 am