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

I’m sure all of WaMu’s assets will get liquidated. In this case, will there be a remainder, how much would it be per share, and would it go back to shareholders?

Technorati Tags: assets, remainder, shareholders, wamu

My fiance recently got his credit report and has about ,000 in debt that he was unaware of. He’s been drawing disability for several years and has medicaid and medicare. The majority of his debt is medical bills that he thought the insurance paid for, but obviously it didn’t. About ,000 of it is basically identity theft. His former roommate opened up two accounts in his name and ran the bills up. We know he did it, but we have no way to contact that person. Well, my fiance decided his only way out of this is to file bankruptcy. However, he doesn’t have enough money to get a lawyer. Would he just totally be screwed if he filed himself? He doesn’t have any assets. No car. He rents his house. So, I’m assuming it wouldn’t be as complicated as it would be for someone with assets. However, I’m sure it’s no easy task either. Yes, I’ve heard the saying that if you represent yourself, you have a fool for a lawyer or whatever.. but we just don’t know what else to do. We have to get this taken care of before they start getting his pay check. He just started working again and isn’t drawing disability anymore so we’re really tight on money. Is there any way a lawyer could help him file bankruptcy and then we just pay the lawyer payments? I’m sure that seems pretty contradicting, but we could afford payments for the lawyer if we didn’t have all this other crap that we’re paying on.

Technorati Tags: assets, bankruptcy, credit report, disability, enough money, fiance, fool, identity theft, insurance, lawyer, medicaid, medical bills, medicare, other crap, roommate

I am getting a divorce. The mortgage on my house is in my name only. The title is actually in both names. My soon to be Ex-Husband still lives here, he is refusing to pay the house payment. He wants them to foreclose on me. I want to sell the house and use the equity to pay off some debt. The total equity after selling the house would be about ,000. We have a total of other assets of ,000. The total assets we have are 0,000. The total debt owed is ,000. The equity and debt are supposed to be split 50/50, so 50% of the total equity left would be ,000. If I file bankruptcy would I be able to keep a portion of the 33,000 to hopefully have for deposits on a new home to rent, or such? My soon to be Ex-Husband would not be filing for bankruptcy. How would all this affect him?

Technorati Tags: assets, filing for bankruptcy, getting a divorce, mortgage

I am bankrupt. I have way too much debt and unemployed along with a long term medical condition. I get 50 calls a day by creditors and i speak rudely to collection agency reps saying, "go fk yourself. eat sht and die"

i also will not file any bankruptcy protection because i cannot afford the 00 fee needed for bankruptcy. i have no assets and no home. I live with parents.

i own no car either. My banks have negative balance and i keep all my cash at home in a lock box. So how will this creditor harassment end?

I will not work anywhere until creditors stop harassing me because i don’t want garnish wages.
i drive 2008 bmw registered in dad’s name, but the car is actually my own.

Technorati Tags: assets, bankruptcy protection, banks, bmw, creditor harassment, creditors, dad, garnish wages, medical condition, negative balance, parents

The TV ads that make it seem like people are settling their tax debt for pennies on the dollar, and saving their house or business. They must be forced to sell off all assets first and pay IRS — right? Seems like a scam.

Technorati Tags: assets, irs, pennies on the dollar, tax debt, tv ads