I am going to file a chapter 7 bankruptcy, and I will surrender my cars. I am up to date with both payments, but will not make March 1st payments on them. When should I expect to surrender them to the banks?
How would you solve our foreign diplomacy problems? Bomb all of our enemies? Do we start nuking Korea, Iran, Iraq, Egypt, Pakistan, Palestine China. Would that solve it? Then what do we do with all those dying people?
How would you solve our financial problems? Let every company now fail, and all the banks fail? GM fail, all housing in foreclosure, and all people on the streets?
How would you solve our health care problems? (One in four bankruptcies is now caused by inability to pay medical costs). Would you just turn away anyone and everyone who is dying if they cannot pay? If they are in a car crash, do we let them die in the wreckage if they cannot show a medical insurance card?
I find lots of you on here are big to criticize, but I find no real alternative solutions.
Take one of these and discuss it.
your thoughts ,,,,did president bush did the right thing in bailing out ,,,companies,,,banks ,,aig,,citi,,,etc,,,
or should they have been allowed to go bankrupt ?
what would have happened ?
I am not eligible to receive a student loan by myself because of my young credit of only about a year even tho I have an excellent score.
I am not able to have my parents cosign for me because they are coming out of bankruptcy a little over a year out and have re established their score. but the loan companies and banks say it needs to be 2 years. I recently transfered to a very expensive school. I did receive a scholarship, but it doesn’t quite cover the cost, which including housing is around 40k per year. I have excellent grades deans and presidents list every quarter of my 3 year length college career.
But what I really do not understand is how on a deferred student loan you are required to have a co-signer when they can be removed as your co signer after 18- 24 months.
This does not make much sense to me and if anyone has any kind of alternative ideas comments or solutions I would appreciate everything I can get my hands on.
Thank you
How long do you have to wait to try and purchase a home after filing Chapter 13?… What or where are the banks that will finance a mortgage while in a Chapter 13?…
Today I found out I lost the house I have had a contract on since last April (2009). I was attempting to buy a house in short sale, the house went into foreclosure and so I have been waiting a long time for the banks/FDIC to get it all together so we could close. Well, Obama signed in a new law (July 2nd, 2009) forcing people who have had their homes foreclosed to return to their homes and in turn forcing the banks to refinance. The alternative for these people is to file bankruptcy (which some have already done, and others have found a solution to just barely stay financially afloat). This may sound like a great solution for all the unfortunate families who have recently lost their homes, but in truth it is a disaster. Who is to say these people can afford or even want to move back?
In my case, the house I was attempting to buy was owned by a family who were over their head with a double mortgage. They were forced to foreclose and have since downsized and purchased a new home. Now with the new law they will be forced to return to their previous home or face bankruptcy. They will have to find a way to sell their current home, which of course is very difficult in today’s economy. The previous owners do not want to return, they can’t afford the move, nor the wait to sell their current home, which they probably won’t even be able to sell in today’s economy.
As for me. I am losing close to ,500 in money spent on contracts etc. I of course have no rights and will not be able to recoup my losses.
Thousands of foreclosed homeowners are dealing with similar situations. For some this may be a blessing if they are still searching for a new living situation. Of course this doesn’t teach any lessons other than to live beyond your means and don’t worry about the consequences because the government will bail you out. Be financially responsible and get screwed. For others they are facing difficult decisions deciding what to do with their new lives and the homes they are being forced to return to. Then for all the buyers, who have been in contract to buy these foreclosed homes and begin to repair the hole in the housing industry. Well they are all SOL and out a lot of money, like me. Believe me, with my meager salary that is cut in half by taxes, ,500 is SUBSTANTIAL!!!
So I ask you, where are our freedoms going and why do we just let the government take them? How does this stimulate an economy? All I can foresee is a rise in bankruptcy and a lot of people losing money.
Of course there are tons of other issues we can discuss that provide similar examples our diminishing freedoms, and the socialization of our country. Such as, when 80% of the general population is happy with the health care system yet government chooses to change it, control it, and force their plan down our throats.
How can anyone be happy with Obama?
Well, it is ashamed to ask this question but it is true that I’ve been living in this condition for couple years now and it made me so depress because of my personal financial problem. But I am still hoping and trying to find everything I could to recover my credit. I hope I will get some advise from you guys out there to help me start rebuild my financial life again.
Since last 5 years ago the first time I moved to this country I started apply my first credit card with US Bank, I’ve been living so happy with it, I thought it was cool when using credit card, I spent money like a rich kid, and I got a really good credit, then I applied for any other cards from one bank to other banks till I ended up with 5 different credit cards. Then 3 years gone by I couldn’t handle these credit cards, I ran out of control and ended up with a balance of 22K at the age 27 years old now, so still there is a long way to go, if I am keep paying the minimum payment like this I will end up paying those creditors for my whole life. I did try credit card consolidation but it just reduced my interest rate Now at this time I decided to go with debt settlement company in order to get rip of this debt and start a new life, but of cause it gonna take me couple years to settle this 22K debt. Now I m paying the settlement company 0/month for 28 months to settle my debt.
So first of all please ignore my grammars I know you understand what I am talking about, but I am seeking for advise from you guys out there:
1. I can possibly maintain my monthly payment of 0 to 0 toward my debt, so is there any alternative way beside debt settlement and bankruptcy to get rip of this debt? now my credit score gone so bad and there is one collection on my credit already, and soon there will be more as I am enrolling in this debt settlement.
2. I start looking at peer to peer loan and sound like an other option for me as long as I have a co-borrow with a good credit, but I am kind of hesitated and not sure how legitimated it is. Can anyone advise me if I should go with it?
I am making 90K from my job but I am still living in this horrible life because of my debt. This is a really bad experience that I am currently having in my life and I hope everyone who read this post will learn from what my mistake was, and won’t go on the same path as me.
Yes I will looking into my daily living expense and hope I will cut some of them. Originally, it was 35K on my balance but then I tried to sell most of my asset (Stock, I don’t have a house) and brought it down to 22K. So at this moment of 22K debt I have nothing beside my monthly salary. I am so upset when I see most of my friends now they bought houses even they make less money than me, I was really poor in my money management.
My husband and I have just lost our jobs and we own 3 properties that are not worth what is owed on them. We have great credit scores but cannot get the banks to talk to us about alternatives to keeping the properties at a reduced payment or sellling on short sale. We have to ruin our credit first and then they might talk to us… We have have the properties on the market but cannot sell without going to the table with large amounts of cash.
If these properties foreclose or we go into bankruptcy.. Can the creditors attach or take our retirement savings to satisfy debt?
thanks for your help..
We just filed chapter 7 bankruptcy and it will be discharged soon. We are in need of a new car, but when we stopped by to talk with the finance manager at a car lot he said we would have to wait 6 months before any of the banks would touch us. Is this true? Has anyone bought a car soon after they were discharged? Thanks for your answers!
My husband and I have just lost our jobs and we own 3 properties that are not worth what is owed on them. We have great credit scores but cannot get the banks to talk to us about alternatives to keeping the properties at a reduced payment or sellling on short sale. We have to ruin our credit first and then they might talk to us… We have have the properties on the market but cannot sell without going to the table with large amounts of cash.
If these properties foreclose or we go into bankruptcy.. Can the creditors attach or take our retirement savings to satify debt?
thanks for your help..
Account is in charge-off and reported to bureaus as so. Amex is giving me 2 options.
1. Pay in full(80) and recieve a card with them to help reestablish credit.
2. Pay 60%(~00), settle debt, and cease relationship with Amex.
Both options report the same to my credit report: paid charge off.
Wanting to get a mortagage ASAP and need to clear this up before banks will give me one…
What is my best option. I can afford either one. I don’t necessarily want or need a credit card, but if it will improve my credit, is it worth the extra 0?
thanks for your guidance!!!
With the situation that is growing among financial institutions, how can one find out if our bank is going to be the next one to go bankrupt? What is a good website to rate the health of individual financial institutions? I’m very concerned not just of the saving and checking aspect of the banks (FDIC insured aspects) but also of the loan, investment and retirement aspects (2 of which may not be insured by any program).
It’s a huge hassle for most people to switch bank accounts especially when you have very diversified portfolios but if you can save yourself much heartache by knowing if your money MAY be at risk then everyone should have access to these tools/website.
Is it the banks’ fault for all the sub-prime loans to those that could not afford to keep up with the payments when the rates change?
Is it the personal financial irresponsibility of those that overspend and file for bankruptcy leaving the rest of us to pay the bill?
Is it the Government funding too many entitlements taking away the motivation for citizens to work for what they have?
Or do you place the blame squarely on the President and refuse to take or give any responsibility to yourself or others?
What would we do when the companies that depend on the banks for needed cash don’t get the credit they need to keep operating? You do know industries do run on credit, don’t you? Should we just let them go belly up? Then all the jobs, what would happen to them?
I understand that banks can go bankrupt, but how does this happen?
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.
I owe US$ 100K to more than 10 credit card companies/ banks since 1998. I have not been able to repay this debt since 1998 due to financial distress and I have been residing abroad (out of the U.S) since then. Now that my financial situation is relaxed I wish to repay my debt to each of the banks that I owe debt to. However I’m not able to do so because I still reside abroad and it is not convenient to settle this debt from abroad as it require a lot of formalities. How can I find a reliable lawyer based in the U.S who can carry out this job for me.
Obviously, Indymac is done and Fanny and Freddy have the gov. support if needed. Do you guys think any other banks have the potential to go bankrupt? Which ones?
Banks like Citigroup, AIG, Freddie Mac, Fannie Mae who got bailed out. Are they guarantee to never go bankrupt or go out of business at least in the near future? So would it be good in invest in them in the long run?
If major banks go bankrupt then what will happen to their debt? In other words, if a person owns couple thousands of dollars in credit card debts and the banks go under, is there still obligation to pay the debt?
(This is theoretically question)