I know they buy old debt at pennies on the dollar, and I have old cc debt, that WAS only about 6k, but with interest, and then being charged off and continuing to roll for years, is over 20k on paper, according to them. But I didn’t spend 20k, and I know the agencies will settle for much less than that.

I’m looking at ch. 7, but before I commit to it, I want to know what realistically I could pay the various collection agencies to settle it. I feel that a BK attorney will only encourage me to file, and if I call the agencies, they can legally start hounding me and my parents to get ahold of me (I’ve managed to keep my number etc private for years). Where can I turn? And what % do they usually settle for? Thanks so much.
Awesome thank you both, I’m in CA, that site shows SOL is 4years, and I believe it was all charged off in 2006, so it might be past already, I’ll get my credit report and check.

-So, if paying them off won’t improve my credit score, what’s the fastest way that I can bring my score back up? (I assume getting those debts taken off is how your score goes back up), obviously the goal is to get them off and/or qualify for a prepaid cc or some way to bring my score back up, so I can strive for the perfect score I USED to have etc. If you get a chance, email me at christianatheist80@yahoo.com

Thanks again, invaluable information.

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I have about 8000 dollars in medical bills because therre was a lapse in my coverage a few years back. Plus a few misc bills. I dont have the means to pay off the debt but I wabt to know how BK will affect me?

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I am 2 payments behind on my mortgage, about to be 3 payments. My husband is about to lose his job because he has to be out of work for 2 weeks due to having an emergency appendectomy, my electric bill is almost 30 days past due. What would filing BK do to my mortgage?

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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 am ,000 in debt from credit cards , charge accounts , and a few bad checking accounts . They are all in collections with an outside agency . I’ve been applying for credit cards and I keep getting denied . I currently have a new job and I don’t know if I should file bankruptcy or just pay these collections and STILL LET THEM SIT ON MY REPORT AND NOT BE APPROVED FOR NO CREDIT . I really am starting to think BK for a fresh start . And I’m not even 20 yet . HELP !
I already had a full secured credit card from a local credit union and thats closed with a high balance and i already had a partial secured credit card from bofa . Should I get like a capital one secured card or Citi secured credit meanwhile while im paying off these collections ? I would like to finance a car soon !

Technorati Tags: applying for credit cards, bankruptcy, bk, bofa, capital one, capital one secured card, charge accounts, checking accounts, collections, fresh start, new job, secured credit card

Has anyone ever done credit counseling or debt settlement? I am looking for an option other then BK. Any advise?

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The mortgage is in good standing but its not reporting to the credit agencies. If I have proof of payments to the mortgage company is it necessary to try and get added to the credit reports by reopening the case and filing the reaffirmation? My credit is already shot for 7-10 years because of the BK.

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This is a personal loan made to a family member. I understand I need to disclose it in BK. However I need the income to meet my monthly expenses.

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Does anyone know if 401k accounts are protected in CA when a Chapter 7 bk is filed?

What are the breakdowns of personal assets that can remain secure between a husband and wife? For example, I own my car and it is worth about 15k. Will that be up for grabbs?

Very much appreciated!

Technorati Tags: 401k accounts, bk, breakdowns, chapter 7, husband and wife, personal assets

Have not been paid back pay after i resigned. The company was in a chapter 13 bk, then about 2 weeks after i left they filed for a Chapter 7. How should i go about getting my money ?

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I bought my home in 2006 and put down $ 100k, yes its 20% down for a $ 500k house. I have put in another $ 50k in upgrades and remodel. Fast forward to 2009, laid off, no income I resort to using my credit card to pay my mortgage while my house was being listed by my realtor. 6 months went by, then a year, the house remained unsold. I’m up to my limit in credit card debt, thinking to sell the house for $ 350k, which will give me approx. $ 50k to pay my credit cards. Year and a half later, house is in foreclosure; credit card at max limit. No job, no car (sold it to pay credit card debt), ..and now living like a deadbeat.

Credit card companies still call and say "hello". Same story told to them over and over, no income, no job, no money etc. They "understand". Then they sell the debt to collection agency, same thing again. I told them my story..and they don’t care. "When are you gona pay?" I say with what? I can sell my t-shirt and underwear, but that might be worth 25 cents. What good will it do? So now, they are suing me in court. Went there and told the same story…judgment for the plaintiff. Okay, now they want to garnish my wage…but I don’t got no job. They want to freeze my bank acct…I have none. They want to..probably kick my ass..that they can definitely do..but that would hurt them, because if I get hurt and sue, they probably owe me money.

So here is my dilema, should I file Bankruptcy ..as there are other creditor waiting in line to sue me. Or should I go to court and and plea guilty but have no way to pay?

Yeah, I know..I’m a deadbeat, but I don’t blame my misfortune on no one except myself. Lost my life savings and people are laughing at me. What a cruel world this is. To file BK or not to file BK? If I do, I will have a fresh start says a friend. If I don’t, my friend says that the creditors will put my balance on my credit report, and renew it every 7 years…meaning that I can call the credit reporting agency to remove it, but they have a right and probably will repost my balance…as nothing had been collected. Is this true? I thought a negative item must be removed after 7 years, but it could be put back in and stay for another 7 years?? Please help. Thanks in advance.

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I’m filing chapter 7 bankruptcy and the BK attorney tells me that my questionnaire looks good, and I pass the means test so things should go fairly smooth. A collection firm is presently suing me for credit card debt and I expect they will have a judgment soon. I’ve been told that my bankruptcy will "take care" of the judgment. But what exactly does "take care of" mean in this case? Does the bankruptcy simply relieve a need to pay on the judgment? Or does it also erase the existence of the judgment from my credit record? If not then can I take some follow up action to erase it myself?

Technorati Tags: bk, chapter 7 bankruptcy, credit card debt, existence, filing chapter 7, filing chapter 7 bankruptcy, judgment, means test, questionnaire

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

this is from a consumer loan company I filed bankruptcy on..now they are trying to put a lien on real estate I do not own…my ex wife does..i never received a summons or notification…just saw it online when looking something else up
the court action is against me in this case…she had already been notified that the loan co was going to garnish her wages for the loan (joint)..the divorce decree states I have to pay the loan..I couldn’t and filed BK …how can the loan co come after me? I have been told by attorneys to pay her the wages back she is having garnished…because of the ruling in the divorce
Isn’t it if I don’t answer this action although I have no summons…that they win by default? obviously they are not telling the courts I filed bk…

Technorati Tags: attorneys, bankruptcy, bk, consumer loan company, decree states, divorce decree, loan co, real estate, summons, wages

I’m selling my house and hope to net 25K. Do you think the 6 credit card companies will settle for the 125K down to 25K?

I have another job, but we are living paycheck to paycheck and can’t make these credit card payments. Any advice??
I forgot to mention that I make just over the amount to qualify for a Ch 7 BK and would have to do Ch 13 which I will probably end up having to pay back all the debts anyway..right?

Technorati Tags: 25k, bk, ch 7, credit card companies, credit card payments, debts, job, living paycheck to paycheck, paycheck to paycheck

I have a debt from an apartment i has but it is not listed on my credit report. I am filing chapter 7 bankruptcy and i was wondering if after my bk it could end up showing on my credit report. I am doing the bk myself so i am not sure if i can list it on the bk forms as a debt anyway?Just answers no questions or lectures/advice please. TY Respectfully…

Technorati Tags: apartment, bk, chapter 7 bankruptcy, credit report, filing chapter 7, filing chapter 7 bankruptcy, ty

Should I file BK? it’s been two years sinced I foreclosed my house, would this benefit me or not?, the house was the only acid, I have no credit cards. Anyone who has gone thru this please give me some pointers, thank you.

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I am about to file bankruptcy and next month I am planning on starting a new job that pays around 50K/yr. Will this affect the BK?
I know the owner of the company and the BK will not affect me getting hired.

Technorati Tags: bankruptcy, bk, starting a new job

I’m 25.. I don’t own a house, but have about k unsecured debt I owe and want to file BK… Additionally, I have a 2 yr new car currently financed for an additional k I want to keep.. I know attorneys are expensive in my area Van Nuys/ West San Fernando Valley, so am finding myself at possibly going with a paralegal.. Please help, and advise if this is smart or not… I definately don’t want to lose my car… Thanks!

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I just turned in my paperwork this week. They told me up to two weeks to verify my information and my lawyer will file. My question pertains to the fact that I was advised to resign at my part time job prior to filing, which reduced my income to a normal 9-5 income…..

Do I have to wait for my BK to be discharged before I can get my part time job back? What if I took a new job which actually pays less but more hours? My income would stay the same really, but I would put myself in a better situation.

Thanks…

Technorati Tags: bk, lawyer, new job, paperwork, part time job

I evicted my tenant for unpaid rent and will go to court on 7-08 for a judgement as to the exact amount still owed. We have information that the tenant intends to file BK so he won’t have to pay and that he quit his job so that we can’t garnish his wages. Knowing this guy, I have to believe both things are true. Any recourse for me at this point?

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prospective tenant is about to bail on the home they own. They have stated they will file for BK after they rent and walks away from their current residence, which they own and are underwater on.
any comments?

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I am currently going thru the proceedings for a chapter 13 BK. We will be doing the repayment program over a span of 5 years, I was wondering if anyone has ever done it and was the payment very high?

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I have about 30,000 in cc debt, so will that get wiped away if I file BK? If everyone else is doing it, why shoud I get stuck with my bill?

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I used to work for a company that went BK. How do i get hold of that information so that i can file my taxes?

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I have got myself into a real financial mess. My husband has been living off of me for years and not working so I was forced to take out some of these payday loans (I had NO other options) believe me if I did I would have used them. anyways now we are separating and I can’t afford to move and live with paying those loans. Can I file bk on those kind of loans to sort of start over. I am basically being kicked out of our apartment. PLEASE only answer if you really know the laws in Wisconsin. Thanks a lot

Technorati Tags: apartment, bk, financial mess, payday loans

I know a corporation and probably a LIMITED partnership requires an attorney to file a BK in California, but does a 100% general partnership have to hire an attorney as well or can it go "in pro per"?

Thanks!

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My landlord is being forclosed on. I dont have any where to go. Is it true that if I file BK, my landlords house will be saved, so that I will not get kicked out?

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i’ve seen one that has been listed on a foreclosure site, and it is a very nice house. they filed chapter 13 Bk, but not really sure if that affects them with their house. is it totally inappropriate to basically contact them and ask if they would be interested in selling their house, w/o even mentioning the Bk?

also, why are Chapter 13’s listed on foreclosure sites if the Bk doesn’t affect them losing their house?

Technorati Tags: bk, chapter 13, foreclosure

I got my license a year ago. Right now, my financial situation turns bad deal to foreclosure and family member illness. I wonder if i file bk, can i still work for a security company?

Technorati Tags: bk, family member, financial situation, foreclosure, security company