I have tried it all and can’t qualify to buy. I have ongoing medical bills, unpaid medical bills, charge offs, apartment judgements (2), old repossessions, a secured card that stays maxed out. I am caring for my family of 6 on my income only which is around K a year. I usually have trouble just paying rent, food, car note, fuel, insurance, electricity, water and cell phone and internet (I use it for work).

I don’t even pay for gas service in my house until winter b/c it is only used to power my heater. My student loan debt from my bachelors and masters programs is huge but I have it consolidated. I don’t have a home phone, cable or any of that frivolous stuff. Yet in all honesty, I cannot see myself raising my credit score enough to buy because everything I try I can’t keep up (like the secured card). I max it out on food or gas every month.

Now you know my financial story, would bankruptcy help me? Someone told me not to file because I won’t be able to buy a house for 10 years, but at the rate I’m going I won’t be able to anyway unless I have a rich uncle or a genie.

Technorati Tags: 10 years, apartment, bachelors, bankruptcy, cell phone, charge offs, credit score, electricity, genie, honesty, insurance, judgements, masters programs, phone cable, repossessions, secured card, student loan debt, unpaid medical bills

my wife an i are going in to see a bankruptcy lawyer next thursday. we have two cars 10 years old and are still paying on one we got last year. the other is paided off. we owe about 60,000 on credit cards and hospital bills and school loans. she was caught in a down sizing and i was put on ssi because of medical problems. we do have a mortage on our house. what can we expect to lose if we file for bankruptcy. how much will they take inside the house and if they will take one or both of our cars and even the house. this is very scary cause its was all good until i started having too many surgery and she lost her 16+ an hr job and now has to take a 10 hr. myself was put on SSI for good.

Technorati Tags: 10 years, bankruptcy lawyer, credit cards, hospital bills, hr job, medical problems, mortage, school loans, ssi, two cars

This is related to a short sale with a second mortgage (HELOC) that wants us to settle a 60K debt for the next 10 years. We have a buyer and can let the sale go through with those terms. Our other alternative is to let the whole deal fall and just go into foreclosure. Which deal is better in your opinion. Thanks.

Technorati Tags: 10 years, foreclosure, heloc, second mortgage, short sale

It would omit everything except for my student loans. This would be wonderful. I have what I need to get me by for the next 10 years. What do you think?

Technorati Tags: 10 years, student loans

My mother is currently renting a home, and has been renting this home for a long while (Upwards of 10 years). She recently got a letter from her landlord stating that he is quite sure he will lose the house to the bank in the bankruptcy he is going through. He is not sure if she will be evicted, if they will just sell it to someone else and still let her live there while selling it, or of any other details that would benefit my mother greatly. The bank is a subsidy of Wells Fargo. I would like to know that, if her landlord loses her house, will the bank evict her after this month is past (She has paid rent for this month, and it is due again on the 1st of May), or will they continue to let her live there? If they do evict her, how long of a warning would she get before she has to vacate? She is interested in moving to an apartment complex, because her rent is 0 a month, and she is living off of social security payments right now with my two sisters, who are 15. She wants a lower rent, and the house she lives in is quite old and very out of date (1970s style throughout the house). I am afraid if the home is sold her rent will go up because of a re-assessment of the property value. What should I know about this situation that I can use to make sure my mother does not get evicted with only 24 hours of a notice?

Technorati Tags: 10 years, 1970s, apartment, bankruptcy, landlord, renting a home, social security, social security payments, subsidy, two sisters, wells fargo

I have a large amount of revolving debt. I’m current on my payments, but I have little left over to live on every month.

I’m expecting a big tax return. It won’t be enough to pay off all of my debt. BUT, if I stop making payments for 2-3 months, save the amount I would have paid, and add it to my refund, I should have enough to settle with the companies and eliminate all of my debt (assuming they’ll negotiate with me on a final amount).

I realize that I’ll have to stop paying and threaten to declare bankruptcy before they’ll negotiate with me, and that it will harm my credit. I would probably be able to pay off my debt eventually, but it might take me 5-10 years, maybe longer. I feel like things I want to do will have to be postponed because of it.

Also, I’m still in college and not planning on buying a home or applying for a car loan or anything for a few more years.

Would it be better to take the hit on my credit rating and get rid of my debt now by negotiating? Or should I tough it out, keep my credit intact, and pay the full amount (which will be thousands more with interest by the time I get it all paid off).

Thanks

Technorati Tags: 10 years, bankruptcy, buying a home, car loan, credit rating, few more years, revolving debt, tax return

Ok so here is the situation I want to leave my husband and the only reason I am still here is due to finances. If I leave and I file bankruptcy will that basically be with me for the rest of my life? I am 32 so if it is on my credit for 10 years that would put me at around age 42 before I can establish myself again. Any suggestions would be more than greatly appreciated!

Technorati Tags: 10 years, bankruptcy, rest of my life

in the divorce decree it states that I am responsible for all debts incurred by my former business and that she is relieved from them. I sold her the truck because I didn’t need it in jail and I owed her money as well for paying my child support current last year. Here’s where it gets confusing, i am in jail in Texas and looking at a felony revocation where I would be spending 2-10 years in prison. Alabama and Mississippi is where most of my debts are and one has even filed small claims three days after I left alabama. I need to act on this fast. Can I do this myself with the correct forms? Which state should I file in? Texas allows you to keep property in which you need for work. But all the divorce decree said that I would be allowed my personal property only and it didn’t stipulate what was personal property. my ex seems to think its just my clothes. Any suggestions would be greatly appreciated.

Technorati Tags: 10 years, child support, clothes, debts, divorce decree, felony, mississippi, money, personal property, revocation, small claims

In the fall of last year, I thought the economy might be turning around by now. Now Chrysler is going into bankruptcy and GM is following. This means all the dealerships will suffer and the suppliers etc. etc. We have tent cities going up and more people are losing their homes.

Where will all the "blue collar" workers find other employment opportunities? I know that there is a push for alternative energy and infrastructure rebuilding, but I can’t see that this will be enough.

If we can turn it around, what do you think the economy will be like in 10 years. Where will the manufacturing jobs be?

And not just in 10 years, when do you think the economy will turn around?

Technorati Tags: 10 years, alternative energy, bankruptcy, chrysler, economy, employment opportunities, gm, infrastructure, manufacturing jobs, tent cities

Read below.. thoughts?

College is worthless, and the average person has no common sense

Unless you major in law, med, finance, or computers…there really is no point to college.

Heck, even computers you dont really need much education. These hackers who, well, hack…most of them never went to college, they just play with computers all day and theyre SMARTER than the people who work for the government with Masters! The government guys make anti-hacking software, then the hackers always find ways to get through it! So….do you really need college for computers either?

Or law, all you need is common sense to be a lawyer, and most lawyers dont have common sense. The law these days is a joke, a 17 year old guy goes to jail for 10 years for getting head by a 15 year old girl??? Innocent people go to jail all the time, innocent people get executed. Lawyers only defend you because you’re paying them too. If the other guy paid your lawyer double to go against you, he’d do it. And bankruptcy lawyers…do I even need to explain? If you wanna file for bankruptcy, you have no money! So why do they charge you 00 to file?

Business, do you really need a Masters to know how to manage a business, when there are people who barely graduated high school and own their own business? Finance…do you really need a Bachelors to know how to manage money?

So many people are going to graduate college, forget everything they learned, and decide to change their career paths. So many people opt to go to graduate school, get their masters, PhD….for what? When you graduate, you’re gonna have so much money in college debt to payoff, and unless you majored in law, med, or computers, u probably wont make anywhere near enough to pay it off. You’ll end up working 9-5, Monday through Friday sitting at a desk all day, and then go home and be to stressed to do anything. And on Fridays, you’ll get drunk off your ass because that’s all you know how to do.

Look at the amount of people being laid off. 3 million were laid off last year, and of those 3 million, i guarantee at least half had college degrees, maybe Masters, PhDs. NOW those people are fighting to work at places like mcdonalds. Theres no such thing as job security, NO SUCH THING. Within 20 years, when all these immigrants who cant speak English, start to speak better english, theyll take your jobs. Those people work 100x as hard as you do, and will do YOUR job for HALF of what you make, AND be 100x more productive.

The majority of these jobs, all you need is a month of on-the-job training, and you’re set. These hispanics who cant even speak English, go and cut someones lawn and make 30 dollars for the 45 minutes it takes them to cut it. Meanwhile, you’re making 25 an hour to sit at a computer wearing a suit and tie for 40-60 hours a week.

In this economy…you all think its BAD to live at home??? Quit dissing people who live at home, theyre SAVING their money.

Companies want you to think they wont hire you unless you go to college and study a bunch of courses you’ll never need. Sara graduated with a 99%, and Joe graduated with a 72%, and they both got the same degree, whats the difference? No employer is ever going to ask for your grades, and they also wont ever call your college to make sure you graduated. Ive seen ads for jobs that a monkey could do, and the company says "must have a BA in…", and im like "why?!…a monkey could do that!". They think that by going to college, you become a better all around person…when in reality, you probably become an alcoholic and party slut or party jerk. My cousin is married to a girl with a Doctorate, and shes had 6 reckless driving tickets in the past 7 years, and all she talks about is how her and her lawyer friends get together and get smashed…..wow, smart people.

You the employees are much more superior than your bosses. Theres 2-3 bosses, and 4000 employees, so who do you think would win in an argument? If you want a pay raise and you’re sick of kissing ass, simply STOP WORKING and go on strike til you’re CEO decides to give you a pay raise. Why is it that airline pilots, lawyers, doctors all go on strike to get higher pay raises (yet they make ENOUGH), yet the people who make shit money, never go on strike? Continue kissing ass, hating your job, and not standing up for yourself and i promise you, you’ll suffer for life. EVERYWHERE i go, 80% of people HATE their jobs and job life. Thats sad. Ok actually, they LOVE their jobs…when its 5pm and theyre ready to leave, lol. But when its 6am and they gotta get up, they HATE it. When its payday, they LOVE it. When its the weekend, they LOVE it. But during the work day, they hate it.

Supervisors, bosses, executives, managers, etc…are full of crap. I used to have a job where I worked at 7am, and one time I had to work at 4am. My boss complained that I wasnt doing much and being too quiet and lazy……at 4am. Hmm, I wonder why someone would seem lazy a
at 4am?! I mean, were these bosses born yesterday? ITS 4AM!!

One thing thats pathetic about employers, is they expect hard work for little pay. In high school I made .50 an hour at UPS, .50 an hour at an ice cream shop. I also made an hour at a grocery store, and all 3 jobs expected me to work like a dog. ….for how much per hour? No, you get what you pay for! If you want an HVAC technician to come install a new system in your house, and he offers to do it for 0, you WONT get a good system. Same goes with people. You DO NOT pay someone .50 an hour and expect hard work. YOU.GET.WHAT.YOU.PAY.FOR. Another thing thats funny is, companies expect you to give them 2 weeks notice before you quit…YET, if they fire you, they dont give you ANY notice, and your finances will be ruined. If you just leave, they’ll replace you in a day.

You wanna know why so many of you work too much? Because you’re materialistic. You have to have the top of the line car, the best apartment, you part
you party constantly, you gotta have the best HDTV, or spend 9 dollars on a drink….wtf?!

Book smarts will only take you so far. Street smarts is what you need to survive life. And common sense. Most people ive learned, have none of that.

All a degree says is, you went to college and took courses you’ll never need, and spent the money which youll now need to pay back…and ur job doesnt pay enough to let you pay it off comfortably. (Especially if you go to GW and pay 65K a year). Go look up online, the best doctors and lawyers in this country, they didnt go to Harvard, Yale, or Princeton.

Companies dont lay off workers because theyre losing money, they lay off workers because the CEO is making 2 million instead of 20 million, and that makes him sad.

Technorati Tags: 10 years, average person, bachelors, bankruptcy lawyers, business finance, career paths, college debt, common sense, fridays, hackers, hacking software, heck, how to manage a business, how to manage money, joke, lawyer, masters, monday through friday, old girl, own business

My wages are being garnished 25% due to a collection that I have for an old car. I already filed for an exemption because I am a single parent with 4 kids. They said they would take out per pay period, but that means it will take me about 10 years to pay it off. Does anyone know if bankruptcy would cover a court ordered judgement?

Technorati Tags: 10 years, bankruptcy, judgement, single parent, wages

My parents passed away and left their house to my sister and I. I wanted to buy her half but the sale is bogged down at the title company because she filed bankruptcy 10 years ago and her home was foreclosed on. She owes a certain amount plus interest. Does she have to pay this? Does this mean there is a lien on our house?

Technorati Tags: 10 years, bankruptcy, parents, title company

Im 27 and have been struggling with debt all my life. It just seems to get worse and worse every year and I want to file bankruptcy. I hear it stays on your report for 7 – 10 years? Which one is it it 7 or 10? Is it tough to get a car loan after bankruptcy cause with my credit right now they refuse to give me any credit. 00 to file with an attorney is a little bit steep for me right now, is there any alternatives to file, and can I pay an attorney every week untill my fee is met?

Technorati Tags: 10 years, car loan after bankruptcy, little bit

H.R. 1106 has a clause allowing one to put their primary residence into a bankruptcy, therefore lowering the monthly payment to an affordable one. At this time the wealthy can put a vacation home, boat and airplane into a bankruptcy.
I am 71 years old diabetic with congestive heart failure. I have lived in my home for 36 years. 10 years ago I went to my bank asking for a business loan. The banker suggested I take the equity out of my home and and change my loan to an adjustable loan. For the first 3 years it was fine. However my business failed and I’m on social insecurity. I have emptied my savings, sold my furniture and jewelry to pay the ever increasing mortgage. My monthly income is 3.00 a month and my mortgage now is 23.00 per month. If I cannot get help from the courts, my only other alternative is suicide.
To the best of my knowledge H.R. 1106 was passed by the senate and sent to the congress last week and is stil sitting there.

Technorati Tags: 10 years, 3 years, adjustable loan, airplane, bankruptcy, business loan, congestive heart failure, congress, furniture, heart failure, home boat, jewelry, mortgage, senate, social insecurity, suicide, vacation home

My nephew is a young guy who has K in debt – student loans, credit cards. They’ve went to collections and he wants to file for bankruptcy. He has a stable job, makes decent money but is tired of the collector calls.

I told him declaring bankruptcy would only makes things worse for 7-10 years and beyond, but he wants to throw in the towel because of the collector phone calls. I told him that it IS possible to negotiate with them but he doesn’t believe me.

How can I talk him out of filing bankruptcy?

Technorati Tags: 10 years, collections, credit cards, decent money, declaring bankruptcy, filing bankruptcy, nephew, stable job, student loans

Hi, I lived in America for about 10 years. During that time I accumulated some credit card debt. Now, I live overseas. Can I file for Bankruptcy? If not what alternatives do I have.

Technorati Tags: 10 years, bankruptcy, credit card debt

Not even sure if I’m doing debt settlement. Just researching. Some say, your credit goes back up after you pay off the debt settlement amount in an average of 2-3 years. While on some articles I’ve read, it remains on your credit file for up to 10 years? What are the implications on your credit?
How much do these agencies normally charge? Just afraid with scams.

Technorati Tags: 10 years, 3 years, Debt Settlement, scams

I have 6 credit cards and all but one have been charged off. I also have a couple things in collections and some medical bills.
I was told that charge-off’s stay on your credit for 7 years (even if you pay them off) and bankruptcy stays on your for 7-10 years.
I don’t make that much and I’m sure it would take me over 3 years to actually pay them all off.
So I was thinking about filing bankruptcy?
Would it be better to pay off the debt or file bankruptcy?

Technorati Tags: 10 years, 3 years, collections, credit cards, filing bankruptcy, medical bills

I was thinking about this the other day, I used to work in collections and couldnt figure it out. It takes what 7-10 years for bankruptcy to age of your credit, the normal statute of limitations is (in my state) 6 years for credit card debt and 10 years for car notes and such. Why would someone file bankruptcy when it costs so much when they can wait it out? Also if the debtor gets a judgement against them does the creditor always put a body attachment out like they do in small claims personal suits?
Thanks

Technorati Tags: 10 years, 6 years, bankruptcy, car notes, collections, credit card debt, creditor, debtor, judgement, personal suits, small claims, statute of limitations

I am excellent at defending myself in court. I need to file bankruptcy to clear off a couple of 20-year old student loans and some credit card debt if I or my fiancee ever want to get any income tax refunded or receive any stimulus money. Without bankruptcy, we’ll never receive a dime back from the government and will also never get the debt paid off, at our advanced ages. Are there forms available anywhere which I can use to file with? I live in Texas.
FYI, when one does not pay a guaranteed student loan, the balance is taken out of every refund the federal government issues to you, i.e. your income tax returns, your spouses income tax returns, and any stimulus payments. This has been happening to me for the past few years. Instead of last year’s stimulus check, I received a notice from the IRS saying mine had been sent to a loan company. In Texas, once a student loan is more than…I’d have to look it up again, say 5 or 10 years, it is considered an undue hardship and does qualify for bankruptcy. Mine is 20+ years old.

Technorati Tags: 10 years, bankruptcy, credit card debt, federal government issues, fiancee, fyi, guaranteed student loan, income tax returns, irs, loan company, money, stimulus, student loans, undue hardship

My sister has been dealing with the IRS for a while and she was recently told by a friend of hers that she could file Chapter 13 Bankruptcy to get all her bills organized and establish a payment that would help her meet her obligations and keep her house. My understanding is that once you file Bankruptcy you can not do it again for 10 years. I could be wrong though -

Technorati Tags: 10 years, chapter 13 bankruptcy, irs

Filing chapter 7 – going to need a car for a new job. Anyone have any experience? I’ve heard that some lenders see you as a good risk since:
1) You don’t have any other debts to pay
2) You can’t discharge your debt to them for 10 years by which time they would milk it out of you…

Anyone know?
Thanks!

Technorati Tags: 10 years, debts, filing chapter 7, lenders, new job, risk