i own my car and pay rent i don’t have any assets.

Technorati Tags: assets

Can a home improvement Contractor in Pennsylvania without liabilty insurance
and few assets declare bankruptcy and discharge the debt of a lawsuit brought against him for damages to a customer’s home?

Thanks.

Technorati Tags: assets, bankruptcy, damages, home improvement contractor, home thanks, insurance, pennsylvania

Today I had my chapter 7 bankruptcy Meeting of Creditors with the trustee. I’m representing myself and have no assets. The trustee asked me if I have ever filed bankruptcy before, and I told him no. This was also a question on my chapter 7 forms that I filed with the court. The question on the forms asked if I had filed bankruptcy in the last eight years. I researched this in a legal help book, and it confirmed that the court is only concerned with the last eight years. As I was going home from court today, I began to worry, because about 13 years ago I did file a chapter 7 bankruptcy in another state. I was assuming that the trustee was referring to the last eight years, but because he didn’t specify, I’m now thinking that he was asking if I had ever filed bankruptcy. Could I get in trouble for this inadvertent omission? I’m recovering from a year of unemployment as a teacher and am a very honest and forthright person. Please let me know your thoughts on this. I would be very grateful. Thank you.
This is considered a lie under oath? What does this mean for me? This was not my intention. Could I get in trouble for this? Thank you.

Technorati Tags: 13 years, assets, bankruptcy meeting of creditors, chapter 7 bankruptcy, going home, inadvertent omission, intention, legal help, meeting of creditors, trustee, unemployment

I am about ,000 in debt but I already have a judgement against me for ,000. I was served with papers for past medical bills and I had a car repo’d about 3 years ago and they are threatening a lawsuit. I have numerous other things on my credit. I make less than ,000 a year and have no assets. I’ve contacted several Credit Counseling companies but there is just no way I can pay the monthly payment they come up with. Help!!! I dont know what to do. I really don’t want to file but I’m beginning to think its the only thing I can do.

Technorati Tags: 3 years, assets, car repo, credit counseling, judgement, medical bills

In this era or high technology and advanced sciences, efficiency and fast results are expected. If you can’t deliver that, then you’re out the door. If I am to tell my employer, "the work is definitely going to take a long time to finished. It can’t just happen in a day or two. Even a week is not enough to do this", you think he will keep me on job? Wouldn’t he replace me with someone who delivers faster? If Obama and his team does not know how to deliver quick results to economy, then its largely a "knowledge problem". Its about bureaucracy, lack of logistics and operations research incompetency. If Obama was running a company in private sector, it would run bankrupt. Companies who get slow in production, have to shut down their doors. For example, porsche car company was very slow to deliver some of its models and they took long time to deliver to dealers, the result was that their model didn’t sell and they had to discontinue it. Toyota did mass production and was fast to supply, so it became number 1 in sales. Likewise how can you re-elect a slow president? Creditors don’t wait. They want payment of bill fast or go to collection agency. I can’t keep telling them, "recovery will not happen overnight. when economy improves, call me". They will sue me instead
if creditors cannot wait for payment, why should I wait for Obama to produce economic recovery? creditors sue me and damage my credit and go after my assets. So based on that, I vote against Obama too because like creditors I can’t wait either.
if creditors can wait without bothering me, then i will wait for Obama recovery too. but it doesn’t work that way
angry monkey: 4 years is lot of time. if in 4 years Obama can’t fix it then people like me will not vote for him. And if the next republican can’t do it in 4 years too, then he too won’t be re-elected. Getting re-elected is based on achievements only.
in school i am graded on how I perform on test, not how good my intentions are. Obama supporters are only sticking to the argument that "his intentions are good and republicans are mean".

Technorati Tags: advanced sciences, angry monkey, assets, bankrupt companies, bureaucracy, car company, creditors, economic recovery, efficiency, high technology, incompetency, logistics, mass production, monkey 4, number 1, operations research, porsche, porsche car, private sector, republican

I am in alot of debt, I am a single parent of two children, I want to start my life over the right way to better things for my children, so i decided to file chapter 7 bankruptcy, I have no assets, I own no property, I dont own anything, I have nothing, but my question is I have alot of online payday loans I have not paid back can I still file bankruptcy, I have about 10 payday loans

Technorati Tags: alot, assets, chapter 7 bankruptcy, online payday loans, single parent

Some newspapers say Iceland went bankrupt some years ago. How can an entire county go bankrupt?
How can a government go bankrupt? What happens if a government goes bankrupt? When a private company goes bankrupt, it has to sell its assets, pay its liabilities, and distribute the money left to shareholders. Would a bankrupt government do the same? Some years ago, Russia defaulted on its debt. Did the bondholders take all the losses?

Technorati Tags: assets, bondholders, entire county, liabilities, losses, money, newspapers, private company, russia, shareholders

You don’t understand, we’re living paycheck to paycheck as it is. We do not own a home. We have no assets to seize.
(if you’d like more details on my situation, read my last ?)
If the insurance co. wins this lawsuit against us, we are so screwed. If they garnish my partner’s wages, we’ll be homeless. We have two children to support as well. Any advice would be greatly appreciated!
Thanks.

Oh yeah. If we did file BK, do we do it now, or wait until the suit is over?
fine, ill just pay on ,000 the rest of my life, get on welfare, and live in a shack!

i hate the way this country is run…

Technorati Tags: assets, bk, insurance, insurance co, living paycheck to paycheck, paycheck to paycheck, rest of my life, wages, welfare

I’ve read a bit of things about chapter 7, but one thing isn’t clear. Under the new laws, I do qualify for it. I’m in Missouri. It says I can keep the car up to the value of 3k. My car is work 7k. I obviously cannot afford nor would I qualify to get a new car and I have no money (which is why the bankruptcy). I live alone and can’t go without a car. What will happen in this case? I have no other assets other than that.

Technorati Tags: assets, bankruptcy, chapter 7, money, new car, new laws

This is quite a story !!

Back in July 2007 I was working for a small heating business. The owner at that time also had a large profitable business and I had been led to believe that he purposefully made it look like the smaller business hadnt made a profit – for tax reasons I believe.

Now this chap had become a friend after working for him for a few years and he asked i I would like to take the business on so that he could follow other avenues. He showed my figures and made be believe that the company was profitable (I was young and naive) so I took on a £25000 loan.

To cut a long story short he said to me that I did not need to pay him until the company made a profit and to keep the £25,000 as working capital. The trouble is the overheads were so high that it never made a profit. I tried moving premises to work from home and also made the office girl (his daughter) redundant but copped for paying her redundancy (3/4 yrs worth) even though I’d only ran the company for around 8 months. Also to give you an idea she was on £16,500 for part time hours (one of the many overheads !)

Any way after just over a year the business had swallowed my £25,000 and I’d spent my savings (circa £7,000) on wages for myself, so I shut it down and sold the assets (4 vehicles, computor, small amount of stock)

I’m still paying the original loan as I refused to go bankrupt (like an idiot !) and still have 5 years left.

I recieved communication last year from the bloke in question saying that the time to pay had arrived and that I owed him £20,000. I emailed him about the trouble I’d had, the verbal agreement about paying him when the company made a profit and the fact that we had no written contract. He never replied.

He has now contacted me again, apologising for the 14 month delay in coming back to me and stated that I owe him £18,000 unless I want to settle the debt privately, in which case it would be £16,000.

The thought of taking another huge loan scares the crap out of me ! I’m now 29 and only just getting myself straight. I have no mortgage and a car on HP.

Do you think I’d have a case if this went to court ? I’m going to see the Citizens advice bureau as soon as I can as I dont know where to turn or what to do next ?

It has crossed my mind that he’s waited this long so that some of the records are now no longer ‘available’ although I dont know the ins and outs. How long can he chase me for ? I fear that I could be taken for theft as I sold the assets (although the vehicles were transferred to me) ?

I guess I may just have to take the loan ?

Any advice appreciated as always

Technorati Tags: assets, avenues, bloke, chap, crap, office girl, overheads, part time, premises, profitable business, redundancy, stock, time hours, verbal agreement, wages, working capital

In Virginia, what is good advice filing Ch. 7 bankruptcy? We will need to do a quick file to try to beat a foreclosure coming up soon. What are the steps? We consulted with a lawyer but read his disclosures and found that we don’t have to be represented but wondering if that is a good idea or not. We have counted up all assets and written down every liability we can think of, and gathered 3 months worth of bank statements for both myself and my husband (both of us need to file). We have titles to vehicles and gotten Kelly (NADA) blue book values on them. I guess we need to get credit reports?? not sure. Also have gathered 2008 and 2009 IRS tax returns. We have already taken the first debt counseling session and received certification for each of us. We have the deed to our home. Are there any more docs to be gathered and what would be the papers to file with which court? Please be as detailed in your answer that you can. This is greatly appreciated.
I have gone onto the official federal website to get forms, fee info, and general instructions about the steps to take to file a petition with the court. so far, this has been the most helpful. But I did consult with an attorney one time to decide which chapter would be recommended and to answer some specific questions for our particular situation.
http://www.uscourts.gov/FederalCourts/Bankruptcy.aspx

Technorati Tags: aspx, assets, bank statements, bankruptcy, blue book values, ch 7, credit reports, debt counseling, disclosures, docs, federalcourts, foreclosure, good advice, irs tax returns, lawyer, nada blue book, nada blue book values, petition, uscourts gov

I defaulted on approximately 0K worth of debt in 2006 which has obviously affected my credit score. I now have a very good job with 0K in household income. Additionally, I have K in cash as well as K in a 401K. I’m very stable – have been with my current employer for 5 years a mid level manager.

The poor credit will ‘fall off’ my credit report in three years. I have an opportunity to purchase the home I am leasing for approximately 0K.

Are there any legitimate lenders that will lend to someone with good income, employment and assets but a poor credit score? FHA will not consider me due to the outstanding ‘debt’ associated with the charged off accounts from 2006. Yes, I did attempt to file for bankruptcy, but got taken by an unethical attorney. I’m not interested in credit repair scams to allegedly ‘improve my score’.

I know there must be others in my position with everything except for the credit aspect. Therefore, I’m guessing there must be an alternative market to fill that niche.

Am I correct or am I way off base?

Technorati Tags: 401k, alternative market, assets, bankruptcy, credit repair scams, credit report, fha, good job, household income, income employment, lenders, mid level, niche, poor credit score

I’m getting legal aid to file bankruptcy and I was wondering how long it will take for the whole thing to be finalized after everything is submitted … it will be Chapter 7 because I’m not working (I’m a full-time student) and I have no assets.

Technorati Tags: assets, bankruptcy, chapter 7, full time, legal aid, time student

I had 14 different credit cards charged off 2 years ago for a combined ,000. The statute of limitations in CA. is 4 yrs so after 2 yrs i finally got a letter from an attorney threatening Litigation for one of the accounts of ,000. Should I just file ch. 7 BK because if I pay this account I still got 13 other accounts to worry about ?
BTW I only work part-time & berly support myself & dont have any assets so i dont want to get garnished..

Technorati Tags: amp, assets, bk, ch 7, credit cards, litigation, part time, statute of limitations

OK firstly, if you’re coming on here to give me advice and help: thank you. If you’re someone who is coming on here to stand in judgement, and tell me what horrible people me and my husband are for ‘racking up debt’ and then going bankrupt, then don’t bother wasting your time, because I will just report your post and ignore it anyway. Not being funny, but all I have got during the three times I have posted this today is nasty comments from a few people who have no idea of the circumstances that led up to the bankruptcy, and spam from people advertising loans! So if someone could give me some helpful advice, I would appreciate it. I havent posted it for several hours, so hopefully there’s some different people on here now.

So here is my dilemma:

We went bankrupt in November 2010, moved out of our mortgaged home, and moved into rented accommodation.. We owned a property (mortgaged) which had a 75K mortgage and also we had a 30K secured loan and £50K UNsecured debt. Just recently, one house near our old house, went for £105K, so the most it will get (at auction probably) is about £90K.

So we went bankrupt and the receivers contacted us to see what assets we have – we have none, except for the house. We haven’t been back to the house since, and didn’t have our mail redirected as we have informed anyone of any importance about our new address.

Well, I phoned the receivers today to ask if they have let the creditors know yet, (because at 12 Jan 2011 they hadn’t..) and they said yes they informed them and sent a report of our debts and other creditors on 18 Jan. Then this girl said, ‘your unsecured debtors (we had £50K unsecured debt) will know there’s little point in trying to you, but the mortgage company will need to contact you and know your ‘current’ address, because they will need to issue a repossession order,,,’

I am utterly baffled, as when we spoke to the receivers in November, (AND the court too,) they both informed us that the receivers would deal with everything, and that the creditors will need to go to the receivers for any assets we have. This is how bankruptcy works surely.???? And now this girl tell us that we should have contacted the mortgage company voluntarily, because the creditors ‘only let the creditors know the person is bankrupt,’ and because there is little equity, they don’t take the house themselves, they just leave it up to the mortgage company to reposses it at their leisure. So apparently, we are supposed to work with the mortgage company through the repossession. !!!

But why on earth should *we* have to let them know our new address so they can badger us here, ?? Surely they can repossess it without us. I was under the distinct impression from the court and from the receivers (at the start) that once we go bankrupt, it’s out of our hands. and now 3 months on, one girl at the receivers office is saying that we should have contacted the mortgage company so we can help in the repossession process!

Well excuse me, but we did pay the receivers £900 (£450 each) to do this job for us, and what would happen if we had buggared off and just abandoned the house like a lot of people do? Surely the repossession can go ahead without us?

Can anyone advise? I am super reluctant to contact the mortgage company and see no reason why they can’t simply repossess without us. And I am particularly pissed off that the receivers AND the court said it’s out of our hands and we need to do NOTHING, as declaring ourselves bankrupt freed us of the debt (and the assets of course..) and now this girl today has said we should inform the mortgage company of our new address, or the repossession order will take many months, as they ‘need our signatures…’ for the repossession order to go through swiftly.

For one, why only say this now? And what happens if someone abandons a property? Should we just leave it and wait for them to repossess without us?

Technorati Tags: assets, auction, bankruptcy, circumstances, creditors, current address, debtors, debts, dilemma, judgement, mail, mortgage company, nasty comments, receivers, rented accommodation, secured loan, spam, three times, unsecured debt, wasting your time

Hi, I have settled on an old medical debt. The collection agency had several accounts and threatened to take my husbands assets and garnish his wages for debt made before we even knew one another. So, we settled the debts and was faxed a letter with all the accounts and amounts the of the accounts that were settled. We settled them Feb 28th 2009 and we just recieved a letter in the mail of them wanting to settle the remainder on one of the accounts we have already settled. What also upsets my husband is that they sent the letter to HIM and not under my name. I checked the account numbers on both the letter and the settlement letter, they match.

My questions are, in the state of IL can they come after us for the remainder of a settled account? Are they able to bash my husbands credit by putting the account in his name even though it is not his? What can I do to stop them?
Thanks so much for any information!

Technorati Tags: account numbers, assets, debts, letter in the mail, medical debt, remainder, wages

2gether since 1/’97. Married 6/’05. Been living apart (seperated) since 2/’07. No assets, just debts. Already agreed on custody, so that’s done. We don’t contest the divorce, but we don’t agree on how the debt s/b handled. I want it split 50/50. All was in my name bcuz of his credit (2 credit cards,2 vehicles & loans). He doesn’t feel he’s responsible for all debt accumulated from 6/2005 – 2/2007 (specifically the SUV he asked for that I’m now left with but don’t want).

4 tax purposes he proposes that we split the divorce & debt issues in 2 and for both of us 2 agree 2 sign off on the divorce b4 December 31st. Then all we have to worry about is the trial 2 settle the debt. However, I am a little apprehensive 2 agree 2 this because I’m not familiar w/ this method & I don’t want 2 miss a step & get screwed w/ the debt we accumulated during our marriage. I’ve read that I can ask 2 reserve alimony 2 use for the debt in case we do end up agreeing and he bails. Is it ok 2 sign?

Technorati Tags: 2gether, alimony, amp, assets, credit cards, debt issues, debts, divorce, loans, marriage, tax purposes

So this guy wants to sue me for defamation. But i havent received his lawyer’s letter. Once i received any letters asking me to appear in court, can i immediately empty my bank account and keep the cash at home. so in the case i go to court and lose , i will just have to declare bankrupt but he cant take my money.

seeing how the courts nowadays tend to award sky high amounts of money for defamation, i definately would lose all my money if he wins

or will the courts check my bank account and question be why i took the money out etc. This is if i empty my bank account BEFORE filing bankruptcy or even appearing in court to face trial for defamation.

will this work to save my money?
i got not much other assets he can take them if he wants to , its not worth much

if i withdraw my bank savings and keep it at my parents, its their property. so even i am bankrupt they cant touch the money as its my parents, am i right?

or will they check my account and find that i withdrew money and force me to pay up. this is if i withdrew the money at the first lawyer’s letter i get, once i get a hint there is some legal action being done the savings are going to be all WITHDRAWN and kept under mom’s pillow

well if i am bankrupt, then i wont have to pay a single cent to no one thats the law isnt it? i dont care about being bankrupt, i just want ot keep my hard earned savings, which happens to be quite alot

Technorati Tags: assets, bank savings, defamation, earned savings, filing bankruptcy, lawyer, mom, money, parents

I bought a travel trailer and was slow to transfer title, seller filled bankrupt and I was contacted it would be retrieved into his assets. How much time do I have to store trailer before I can have it towed to an impound lot. I’m paying storage for the dead horse. I’m trying to make new deal to rebuy (cheap) but??????

Technorati Tags: assets, dead horse, new deal, storage, travel trailer

I owe a LOT on my credit card bill (my minimum payment is 5/month) and my interest rate is 12%. Please understand that this has taken almost 2 decades to get to this point and it was unintentional. Anyways, I have good credit with a score of 771. I don’t want to ruin that by filing bankruptcy. I am wondering if there is an alternative where I can cancel the card, pay say /mo and not have interest accrue. I will pay til I die if I have to but I cannot afford this anymore. I know you can do something similar with medical bills, so I thought maybe there is something out there for credit card bills. If it helps, I am disabled and receive SSDI, so maybe there is a government program, I don’t know. Thank you for any/all suggestions.
Just some additional thoughts, what would trash my credit worse? Filing bankruptcy or debt settlement of some type as one person mentioned? Also wondering, if I just ceased paying or only paid the very minimum I could, and lets say they end up putting me in collections, etc., and let’s say they sue me for it, could they put a garnish on my monthly SSDI check? I don’t have any assets they could take (savings, house, etc).

Technorati Tags: 2 decades, assets, collections, credit card bill, credit card bills, Debt Settlement, filing bankruptcy, garnish, government program, interest rate, medical bills, minimum payment, score, ssdi

My former husband and I had a joint credit card account ( we both signed ). When we divorced, the outstanding balance on the card was about 9,000 dollars. We did not specify in the divorce documents who was going to pay this debt off, since we had a verbal agreement ( I know, stupid me ). In between my divorce and myself getting married to my new husband, my ex filed for bankruptcy. Recently I have been getting calls and letters from collector who is threatening to seize assets of myself, my new husband, and anything our jointly owned. Can they actually take my husband’s own assets, like things he had before getting married? He understandably is worried. Oh, we are in FL.

Beth

Technorati Tags: assets, bankruptcy, credit card account, divorce documents, verbal agreement

I’m 19 years old and have been evicted (fees thereof are unpaid) and owe money for two different credit cards.My debts reach about 4,000. I am a full time student with barely enough time to work just to support myself, so I really won’t be able to pay off my debts for another 4 or 5 years.

I was thinking about declaring bankruptcy since I have no valuable assets (ie-car is under my fathers name, don’t own a house, etc). Or, would it be better to try and pay it off? How long will these debts stay on my credit report and how long will the debt collectors come after me?

If I just ignore it, will it go away?

Technorati Tags: 19 years, assets, credit cards, credit report, debt collectors, debts, declaring bankruptcy, fathers name, full time, money, time student

Can I liquidate the assets I have inside my business to pay off other debts that I have to recoup the money I have lost and then file bankruptcy on the rest of the loan? And if the contents of the business was part of the colleteral for the loan then I assume I probably can’t do this….

Technorati Tags: assets, bankruptcy, colleteral, debts, money

Mother has mounting medical bills that are impossible to pay. Several ‘creditors’ are threatening collections. Wondering if they ‘win’ a judgement against her, can she still file bankrupcy afterwards? She is on social security and has no property or assets, so I’m not sure what they can even get (state law prevents retirement income or assets from being touched). Thank for any advice or ideas!

Technorati Tags: assets, collections, creditors, judgement, medical bills, retirement income, social security

I’ve heard that chapter 7 is a "liquidation of assets" and chapter 13 is a "reorganization of debt".

I don’t own anything except a computer, two old TVs. Can they take that?

Have lots of debt. Would like to file chapter 7. Can I or will they make me file chapter 13? What are the QUALIFICATIONS or REQUIREMENTS?

Technorati Tags: assets, chapter 13, chapter 7, liquidation, old tvs, reorganization

All of my income is protected and our house is under water and the car is leased. The only assets that we have are household furnishings and clothing. Can they seize the furniture and clothing to settle the debt? We live in Florida if that makes a difference.

Technorati Tags: assets, furniture, household furnishings

I am an Australian that lived in the US for 10 years and while I was there I managed to rack up K in credit card debt through a series of bad luck events (medical expenses for cancer treatment, job loss, loss on sale of a house).

I moved back to Australia at the beginning of this year because I couldn’t find work in the US and have been trying to get back on my feet. I have been thinking the best option for me is to just file bankruptcy in the US and have my credit card debt go away, but that was before I was considering returning to the US!

Now, I am thinking I’ll probably want to come back to the US in the next few years and I’m keen to get my debt situation there resolved ASAP so I can start paying for my mistakes. I just ran my credit report and have a credit score of 591 with a Charge Off status on one of the credit card accounts.

I could try to negotiate the credit card debt down as I have access to some cash from my parents to pay off my debt, but only have K in cash and K in debt. I have no assets in the US, only this debt so I don’t have a lot to lose at this point.

What is the best course of action? Should I just file bankruptcy or should I try to negotiate with the creditors? It’s a lot of money and my credit is already wrecked!!

Any advice would be appreciated but please don’t criticize my previous actions – I can’t change what has happened, I can only make improvements from here.

Thanks

Technorati Tags: 10 years, assets, australia, bad luck, bankruptcy, cancer treatment, credit card accounts, credit card debt, credit report, credit score, creditors, debt situation, improvements, job, medical expenses, money, parents

A few people online have stated that if a bill collector agrees to forgive the interest on a loan, and only requires that I pay monthly on the principal debt, I will eventually receive a 1099 form for the amount over 0. However, the collector says since I am paying off the original amount due(principal), minus the interest and late fees, I will not receive a 1099 form since they are willing to settle for payment on the principal. Is this possible for a collector to do? Or is this a trick, and I’ll receive a 1099 form eventually? I will be making low monthly payments on the debt for the next few years and I’m currently on a fixed income without valuable assets.

Technorati Tags: assets, bill collector, fixed income, late fees

My court date is next week. Should I contact the creditor/ collector that I will be filing a bankruptcy and there is no need for this small claim? I can I earn some time to file a bankruptcy before my court date for this small claim?
Actually this small claim is not for me and the bankruptcy is not for me either. I’m a single and taking care of my ill parents. I tried paying their bills off but if is overwhelming with my bills and my responsibilities. My parents have no assets, no bank account, no property (sold last year) and no retirement plans. Is bankruptcy a smart choice here or should I contact the creditors and arrange a manageable payment? Thanks for your help in advance.

Technorati Tags: assets, bankruptcy, creditor, creditors, ill parents, manageable payment, retirement, small claim, smart choice, thanks for your help

My mother runs a preschool out of a different house than the one we live in. both mortgages are in her name. The business (preschool) is in the form of an LLC but her mortgage is under her name. she is going through tough times with the school and cannot pay the mortgage on that house. how can i protect her assets and the house she lives in if the preschool house gets foreclosed or the business goes bankrupt. can the preschool mortgage be put under the name of the LLC? any advice is much appreciated. Thank you

Technorati Tags: assets, going through tough times, mortgage, mortgages