We have 3 children, ( 2 minor, 11 and 17), our home is our biggest asset. We have a lot of debt with judgments against us. He has hidden other property and other assets, ( motorcycles, vehicles), and other items of value by them getting them out of his name so I and the courts can t touch them. I must seek legal aid from our local county, as I have no money to defend myself. My husband is trying to make sure I get nothing, when I am the one initiating the divorce, because of his excessive alcoholism, physical and verbal abuse towards the children and me. There is a documented case with DCF against him, for abuse and drug use that my son’s school reported . The case was closed with no further action. We need to file for bankruptcy and I desperately need guidance in the right direction awaiting legal aid to assist me. Someone please show me the light…
He seems anxious to get me to sign his do it yourself divorce, yet he refuses to leave the house, and wants to stay while all this escalates.

Technorati Tags: alcoholism, assets, bankruptcy, dcf, divorce, drug use, escalates, guidance, judgments, legal aid, local county, money, motorcycles, right direction, verbal abuse

I am thinking of filing for bankruptcy. Can creditors touch the equity I have in my home? What assets can they cease?

Technorati Tags: assets, creditors, filing for bankruptcy

I am a single parent filing a chapter 7 bankrupcy. I always get back about 3400 a year, because of child tax credit and earned income credit. Now i am scarred that i won’t be allowed to receive my taxes next year. I depend on this money for the year to help with food and clothes, car repairs. Has anyone filled a chapter 7 as a single parent, with no properties or other assets? And had their taxes for the next year taken?

Technorati Tags: assets, car repairs, chapter 7 bankrupcy, child tax credit, clothes, money, single parent

I am wondering how to protect my property from creditors. Husband died recently and left cc debt in my name. Now I am having a very hard time paying all of them. If I sell my house to a relative and finance it for them and then just pay them rent, will that keep the creditors from taking it? Some states do have a law that protects the creditors so they can take your assets if you cannot pay them.

Technorati Tags: assets, creditors, hard time

I got a letter today from Midland Credit Management, asking for a debt in the amount of ,181.56. The Debt is from Aspire Visa, a card I used to have .. I could not pay it all off since I lost my job and i’m having trouble finding a new one. I can’t pay off this debt in this amount .. it originally was NOT over ,000, it was 0. They added on all these late fees / interest when I could not pay over a amount of time. I tried to make small payments, but obviously they didn’t help, it just got larger and larger. The account has been in collections for a while and so, it doesn’t matter how much I pay, it’s still not enough.

They sent me a letter saying:

"This letter is to inform you that Midland Credit Mangement, Inc. Is Considering forwarding this account to an attorney with the intent to initate legal action to settle the debt.

Please call our office immediately at 800-939-2353 to make arrangements to pay this debt and prevent any legal action on your account"

What do I do?? I cannot afford this .. I have absolutely no funds, and there no point in calling telling them that because well, what are they gonna do?

I’ve told them that I can pay it when I get a job, which I am currently looking for, but if the case goes to an attorney, what are they gonna do? even if I will have to go to court, that’s still not going to get them money .. because I don’t have it. I also have no assets, no car, no house, or anything. So what can they do?

I’m really worried. I am still trying to find any job I can, but even if I do, it will take me a while to save up that much money.

Thanks for your help.
oh, and if you’re wondering, i’m posting this from my aunt’s house, I cannot even afford my own internet. LOL
CAN they take me to court though, over this debt??

Technorati Tags: amount of time, assets, collections, credit management, job, late fees, midland, much money, thanks for your help, visa

Ok I have around ,000 in credit card debt. I also co-signed with my mom to buy a house 4yrs back and it is due to go in foreclosure soon due to the fact that her husband lost his job (construction) and I couldn’t make the payments by myself which is why I defaulted on my mortgage and credit cards.

I also suffered a broken ankle in December and upon returning to work in May I lost my Supervisor position which was nearly a / per hour pay cut. To top it all off they decreased our work-week to 32 Hrs.

So my question is can I get away without filing for bankruptcy and just wait til everything clears up in 7 years or do I have to file?
Unfortunately my injury happened at home so I was receiving Disability insurance which was about %60 percent of what I made normally.

My mom or her spouse haven’t been able to find a job and their unemployment ran out 2 months ago.

I don’t have anything of value that I see the court selling off to pay back some of my debt. I am really broke and don’t have much in the way of assets. I only have about ,000 in my 401k other than that I am broke

Technorati Tags: 401k, assets, broken ankle, credit card debt, credit cards, disability insurance, filing for bankruptcy, foreclosure, insurance, job, mom, mortgage, supervisor position, unemployment

….after you get sued for building a faulty house for someone. The judge is in favour of the plaintiff, whose house you built. He rules that you must pay them ,000 to compensate for the cracks in the ceilings & walls and various other mishaps. You then, like a b*tch, file for bankruptcy. Don’t know how to phrase this, but: your claim for bankruptcy is accepted.
Replace the you with defendant. What prompts me to ask this is that the defendant walked out of court saying "You’re not getting one cent" to the plaintiff. Which, for comedic effect, i will add that he got punched in the face :L
Questions:
1) How does the plaintiff get his compensation, in civil law or whatever area of law? Are there alternative ways to gain compensation for this issue other than suing? Obviously the suing did not work out? Like for e.g. in criminal cases you can go to the Victims Compensation Tribunal if suing civilly does not work in your interests.
2) Does the defendant (in bankruptcy) have to sell all his assets and every cent of his future income goes to paying the defendant the compensation? Its only fair..
3) Does he get off scott free?

Thanks in advance Would appreciate it if any lawyers on yahoo could lend a hand in releasing me from confusion and unknowledgability.

Ps. The jurisdicton is NSW, Australia.

Technorati Tags: amp, assets, bankruptcy, ceilings, civil law, confusion, cracks, defendant, favour, free thanks, lawyers, mishaps, nsw australia, phrase, plaintiff, tch, thanks in advance, victims compensation tribunal, yahoo

when should you declare bankruptcy and what happens next? will you be forgiven? will all your assets be confiscated? please explain to me how does it work in america? thanks

Technorati Tags: assets, bankruptcy

Due to domestic violence in my home, I left my marriage. I drew up a proposal to my (soon-to-be) ex regarding our MASSIVE debt which left me with one medical bill of ,000 (not including interest) and two credit cards of over 00. I also left with only what I could fit in my car and left all our furniture and assets to him. I don’t work full-time, though I’m going to try to soon and I just CANNOT pay these debts. I have no problem with the idea of bankruptcy for myself…however, NOTHING is in my name except our Bank of America overdraft protection credit card and he works for a financial industry and told me that if he has a bankruptcy that he’ll loose his securities license and then his job. It’s not my goal to be malicious and cause that – but I can’t pay these bills. Will it be better for me to wait until the divorce is final and then file bankruptcy on whatever debts the judge gives me? Any advice? I don’t know what to do.

Technorati Tags: assets, bank of america, bank of america overdraft, bank of america overdraft protection, bankruptcy, credit card, credit cards, debts, divorce, domestic violence, full time, furniture, job, marriage, massive debt, medical bill, proposal, securities license

If a company is little more than a website, what’s to stop a company that’s bankrupted by lawsuits or the like from just taking all the code and data and reopening a site under a new domain, especially if the "assets" could not be sold as part of the bankruptcy?
Your typical internet forum, like vBulletin or Invision Power Board. All that the "assets" consist of are a software license and a database, maybe some banner contracts or something like that.

Technorati Tags: assets, bankruptcy, contracts, internet forum, invision power board, lawsuits, software license, typical internet, vbulletin

We’ve been together for 5 yrs, but he has fed student loans that are being garnished, I have 3 kids, own the house, both our names are on the vehicles and at the end of the yr, I get a decent tax return that we practically live off of, we just want to make sure we can get married and not jeopardize that, or worse they use my assets to settle his debt. Also, I don’t want to lose that tax $$$

Technorati Tags: assets, student loans, tax return

My car got repossessed, and when I filed bankruptcy 5 years ago, they has to give me my car back, as it freezes your assets. I was wondering if that changed.
I’m in the states by the way.

Technorati Tags: assets, bankruptcy

I am severely underemployed, making minimum wage, 20 hours per week. I used to make more money and was given credit which I used, to the tune of ,000 in unsecured debt. Between my rent and utilities expenses, I can’t make my minimum payments to my creditors. I am striving to improve my employment status, but until I succeed with that, what can I do? I have no assets to sell and {content} to pay to debt consolidators and in payment plans. Is there any way to put my debt off for a few more months, or should I start thinking seriously about personal bankruptcy?

Technorati Tags: assets, creditors, debt consolidators, employment status, minimum payments, minimum wage, money, personal bankruptcy, unsecured debt

If somebody sues me, wins, and I don’t have enough assets to pay them, do they get my future earnings? I live in California.

Technorati Tags: assets, earnings

I have a large amount of debt that I am unable to pay. I want to file bankruptcy. Let me start by saying I am ashamed to be in this situation so, please do not bash me, just please provide sound advice.

There are two debtors that I would like to continue paying on. One of them holds the pink slip to my car (my credit union) and the other is a credit line that is owned by my grandfather but he put my name on it to use.

Can I file and not include these debts?

Please help, thanks!
Added DETAILS:

1. No assets, other than the car, which only ,000 owed.
2. In California.
3. How do I reaffirm the debts I’d like to keep?

Thanks!

Technorati Tags: assets, bankruptcy, debtors, debts, pink slip, sound advice

Will the US collapse quickly just like the financial institutions did?
Who will the politicians blame, the rich for not paying enough taxes? If the government took all the money and assets of every american, they could not pay off our current liabilities.

Technorati Tags: assets, collapse, current liabilities, financial institutions, money, politicians

I have a terminal disease and I have some debt that I am never going to be able to get a hold of. I am going to have to file bankruptcy. I am bed ridden right now. I need to get some advice on some questions I have. Can anyone help me?

I am married and our house is in my wife and my fathers name, not mine. All the debt, medical and Credit card are all in my name and nobody else. So I will file bankruptcy myself. I have no assets, no job, nothing like that. I actually have less than 10 debtors. I cannot afford an attorney because my wife works to care for me and our three boys and she makes 10.00 an hour. Has anyone used the on line bankruptcy paper filing services at all? Is this something that can be done? Is it hard? any advice would be appreciated. I really need some help. Thanks

Technorati Tags: assets, bankruptcy, credit card, debtors, fathers name, job, paper filing, terminal disease

Like all the extra homes they have? All their other assets, boats, cars, vacation homes, stocks, bonds, IRAs, and any other source of income? Will they lose their pride? Be ashamed? Have no future?
Will be they be treated like the ordinary guy who lost his job, lost his home , and his credit? Will they be treated like the bums they are? Or will they get richer because of who they are, and who they know? Republican Thieves. They are supposed to be educated, why did they act like morons? They do not deserve to be bailed out. Thrown out is what they should get. Penniless!

Technorati Tags: assets, boats, bums, cars, iras, job, ordinary guy, pride, stocks bonds, thieves

I already know that goodtimes sold their assets to gaiam(???)
and filled for bankruptcy in 2005. Did their financial problems have anything to do with the Walt Disney company suing them often for copyrights Disney did not possess? (that is what wikipedia said)

Technorati Tags: assets, bankruptcy, copyrights, disney, gaiam, walt disney, walt disney company, wikipedia

I have been unemployed for 9 months with bad credit as a resultof late payment. Should i file chapter 7 b/c I currently have no assets or dispute with my creditors to have some things removed from my credit report to improve my score? I am only 21yrs old and in need of a car and I am trying to straighten things up. Please help!

Technorati Tags: 9 months, assets, bad credit, chapter 7, credit report, creditors, score

I also have a vehicle that I am currently financing. My payments are more than 0.00.mthly. As i have been good on my payments besides 1, should I refinance before or after the filing for bankruptcy. I also know that I will be filing for Chapter 7/W no assets. Thanks for all the help, if at all possible

Technorati Tags: assets, chapter 7, filing for bankruptcy

I ran out of cash meeting uninsured broken arm surgury, then started using credit cards. Did the low rate transfers and all that stuff. Now back to work, but could not make payments last few months. Hounded by their phone calls all the time. Have not answered their calls. But I am now working again and can start making payments. I am ready to contact the credit card companys. Before I do, I would welcome any advise (or benefactors, Ha,Ha). Totally, by rough calculations I owe about ,000.
As an after thought, I am aware there were changes in the bankruptcy laws but do not know the specifics. Is bankruptcy a good option. Basically I have zero assets, no real property.

In closing, who is a reputable debt consolidation company, is bankruptcy a viable alternative, or is their an an alternative I do not know of? Thank you for your advise.

P.S.
Spend for a non-slip pad for your bathtub. Money well spent !

Technorati Tags: assets, bankruptcy laws, bathtub, benefactors, broken arm, credit card companys, debt consolidation company, money, rough calculations, specifics, using credit cards

My Aunt had a stroke. Her only income is social security. She is 74 years old. The bill collectors are relentless. I tell them her situation but they keep on calling and calling. She is not married. I was wondering if it is necessary to file a bankruptcy on her behalf, (and can I do it for her) or seeing social security cannot be seized (She has no assets) can I just request that her bill collectors discharge her accounts?

Technorati Tags: assets, bankruptcy, bill collectors, social security, stroke

I need to know if I should file bankruptcy. I have read online that IF you do not have ANY valuable assets, and limited pay, meaning NOTHING by law that a creditor can take from you that there is no need to file bankruptcy? Amount owed is all credit cards (about ,000 maybe a little more) and also a home morgage that I would be happy to include. Is it better to just let them charge off the cards or to file bankruptcy? I have NO valuable assets at all and also get a SMALL amount of help from the state. I will answer any questions… I need TRUE advice on this PLEASE!
i also forgot to mention… these debts are already about 1 to 1 1/2 years old… some are already charged off… and others still contact me. It has gotten out of hand. Some credit card debts that had a 0 limit are now at over 00. Thanks all for answers!

Technorati Tags: assets, bankruptcy, credit card debts, credit cards, creditor, home morgage, true advice

I have completed all my back tax returns but have not yet filed them (2005-2008) and have come up with a tax owed of around ,000 which will surely be at least -,000 by the time penalty and interest are added in. My 2004 returns shows me owing ,000 and the IRS has already started the levy process against my personal income last week but made an error on the form so I have dodged a bullet until they get it corrected.

I spoke with the IRS this morning and told them how much my gross and taxes were for the 4 years I haven’t filed and they have asked me to fill out a collection information statement form 433F and have given me until Monday to call them back and give them the info on the phone.

Due to some huge unpaid medical bills, my debts outweigh my assets by at least 3 to 1 (assets ,000, debts including ,000 tax are around 0,000).

I have around ,000 cash saved, and ,000 equity in my house but cant find a lender because my credit is terrible.

Any suggestions? Will the IRS be able to give me an installment plan or could I opt for an offer in compromise? Or is bankruptcy an alternative?

I have never been in such a poor financial condition in my life.

Thanks.
Can I possibly do and offer in compromise? I realize now that federal taxes can not be discharged in a bankruptcy. Can the IRS do an installment agreement for ,000 or is the maximum ,000?
Thanks for all the advice but please get off your pulpits. Facts only please, no criticism. I know the situation I am in and how i got here. You dont need to remind me and/or accuse me. I just came here for answers. So lets stick to the answers people.
Any answers about the possibility of Offer In Compromise?
Can I do an installment contract for ,000 if I can pay it within 3 years?
AFTER I FILE ALL RETURNS DUE AND OWE ,000, CAN I GET AN INSTALLMENT AGREEMENT? IS IT POSSIBLE?

Technorati Tags: 3 years, assets, bankruptcy, collection information statement, debts, federal taxes, installment agreement, installment contract, installment plan, irs, levy, life thanks, offer in compromise, personal income, pulpits, tax returns, time penalty, unpaid medical bills

I know that the trustee has to sell whatever assets you have, to partially pay back the creditors, but what ARE those assets? Like Furniture? Dishes?

Please dont tell me how bankruptcy can ruin credit, etc. I know it already, and after all of this hell with the credit card companies and the mortgage company, who the hell in their right mind would want to deal with credit ever again? Just, if you have the answer, then great, please answer. If not, then keep your opinion to yourself and move on. Thanks.
I dont even have the money to buy food or toilet paper, let alone a boat. If they are only looking at major purchases, then they are going to be in for a shock.

Technorati Tags: assets, bankruptcy, credit card companies, creditors, dishes, furniture, hell, money, mortgage company, shock, toilet paper, trustee

I currently live in a rented house, and am drowning in debt…..
A long story, but I have just been rejected for an IVA and have no alternative but to go bankrupt.
The debt is in excess of £20K.
I live with my partner, so am hoping a lot of things will count as joint assets, but I am a wreck at the moment wondering what, if anything, will be taken to pay my creditors.
I have a car, worth about £600, a stereo,a good cd collection, a computer, tools (i used to have an exhibition company, but I don’t put much value on the tools), and all the usual things in a house, including a sauna (which perhaps is not).
Nothing individually is worth more than £1000.
Can anyone enlighten me, or is it once again time to consider taking the cowards way out?
Thank You for your answers.
Edit.
That link is an amazing video – Many Thanks for the eye openers…..
Whilst I still have tears in my eyes, I understand more than ever about corruption and malpractice.

Technorati Tags: 20k, assets, car worth, cd collection, computer tools, corruption, cowards, creditors, drowning in debt, exhibition, eye openers, iva, malpractice, many thanks, sauna, tears in my eyes

No assets, no other debts. I figure i can settle one card (7K owed) for <4k, come tax time I should get the 20% back and settle the other one. (6K owed). Looking to start college in Jan, delivering pizzas for job, keeping my income low enough to maximize fin aid. Will this action get me to zero and a fresh start?

Technorati Tags: 6k, 7k, assets, debts, fin aid, fresh start, job, lt, pizzas, tax time

I want to file Chapter 7 to totally get rid of my debt. The only problem is my spouse doesn’t agree with this, so I would have to file by myself. I have 5 credit cards in my maiden name and 1 credit card in my married name. My medical bills are in my married name. As far as my assets, my name is on the house but not on the mortgage. My name is also on the two cars that we own.

Can I file Chapter 7 bankruptcy without the cars and the house being affected? If I can’t file by myself then what else can I do?

Technorati Tags: assets, chapter 7 bankruptcy, credit card, credit cards, maiden name, medical bills, mortgage, two cars

I need to consolidate my debts, either by getting a loan (unlikely with my credit) or through a settlement company. I want to use a good one, though, so does anyone have any recommendations? I could easily file bankruptcy with my income and lack of assets, but I would rather pay off the debts. Some of the collections are hostile, now, though, because I have so many different ones after me that I can’t possibly make my payments each month to each of them. This all stems from two hospital trips earlier this year. I don’t even own a credit card, so I’m not financially irresponsible. Just poor and uninsured. Any reccomendations would be very much appreciated!

Technorati Tags: assets, bankruptcy, collections, credit card, debts, getting a loan, reccomendations, settlement company, stems