I have a few qustions regarding chapter 7 bankruptcy – not sure if anyone would know the answers to any of them. I haven’t filed yet but it is a consideration.

1. I bought a new car last year – my father is the primary on the loan and i am the cosigner – how does this affect his credit? I am current on payments and will continue to be current.

2. My ex husband and I bought a house together when we were married. I am the primary on mortgage and he is second. In the divorce he got the house and modified the mortgage based on his income. If I file will that mess up anything with him?

3. I am an authorized user on my fathers credit card although I haven’t used it in years – will my filing affect this on his credit report?

4. I am in desperate need of a new bed – if I buy one before I file will this have any affect on the filing (not buying with credit – paying outright).

THanks for your help. I hate the idea of filing bankruptcy but Im now being sued because a creditor won’t work with me for a manageable payment plan (they want more than I make in a month). If anyone has any other alternatives I would appreciate that too.

Technorati Tags: chapter 7 bankruptcy, cosigner, credit card, credit report, creditor, current 2, desperate need, divorce, filing bankruptcy, manageable payment, mortgage, new car, qustions, thanks for your help

I was able to get one credit card a while back soon thereafter filing and kept paying off the balance each month. Recently put on permanent disability so my income is set and very limited so I can only pay X amount each month and now have found myself at the cards limit beacause the interest rate is so astronomical that any payments I make only about goes to prinicipal. I’ve applied for other cards that offer 0% for a year hoping to be able to transfer my balance so the payments might actually make a dent. Unfortunately every application has come back denied due to (1) insufficient income and (2) filed bankruptcy in 2000. This sucks and I feel totally screwed and stuck, any feasible ideas would be much appreciated.

Technorati Tags: bankruptcy, cards, credit card, disability, feasible ideas, interest rate

Hey, I need a little advice from soneone who has been in a similar situation.

I recently discovered we had an old credit card that had not been paid off, and the account has been adding interest for 5 years. When the account went delinquent, it had a balalnce of ,000, and has now grown to [B],000[/B].

Anyway, the card is in my wife’s name only, and I am looking at calling the collection agency and settling the debt, probably for around 6 or 7K I would imagine.

My question, however, is what happens if I don’t pay it at all? I mean, I know it would fall off my wife’s credit report, but that doesn’t stop collection actions and or garnishment, does it?

I realize it would continue to kill my wife’s credit, but does it do anything to mine? Can they garnish MY wages, as her husband?

Any help in answering this question would be greatly appreciated. I will likely call and settle the debt, but want to know what my options are. Thanks! Mike

Technorati Tags: collection actions, credit card, credit report, wages

I owe 0 for something it went to collections, they are offering me 2 Opportunities to settle it they will
A. Settle for 144 or
B.The option to resolve the debt and recieve a new gold mastercard which allows me to pay the balance in 35 monthly payments,

Now im willing to do both but will getting the credit card benefit me in a bigger way??

Thank you!
the card says o% APR for the life of the balance no annual fee

Technorati Tags: collections, credit card, gold mastercard, new gold

i have a credit card that i owed $ 9000.and i didnt make payments on. the other day a lawyer called my ex-husband and she said if i dont contact them untill saturday 7/26/08 they have a warrant arrest for me. i want to call them and try to settle this but i feel very intimidated by them. what should i do?

Technorati Tags: credit card, lawyer, warrant arrest

i have about 15,000 in debt. on of which was a 2,000 credit card now uo to 11,000!!!!! i just don’t know what to do! i already got my tax refunds and it’s gone to things we needed. so i can’t do a settlement. my b-f and i make about 55,000 a year, but trust me allot of his income is gone to child support plus we have two kids. please someone with a knowledge of this answer……..

Technorati Tags: child support, credit card, tax refunds, uo

Should i file chapter 7 bankruptcy? I have 9,000 in credit card and own 8,000 on a car worth 3,000. I lost my job and am falling behind on payments. Should i wait till i get a job and pay it off or should in just fill bankruptcy. I want to get rid of my car if i fill will they take it?

Technorati Tags: car worth, chapter 7 bankruptcy, credit card, job

I have an old Citi card, Capital One card, Best Buy, Chase, and then a few smaller ones- Wal Mart, Express, and Lane Bryant. I haven’t made a payment on most of them in at least 2 years. I stopped paying them cold turkey because they jacked the interest way up and wouldn’t negotiate with me, and I couldn’t afford to pay them along with tuition, rent, etc. since I didn’t receive help from my family. I’m not even sure what I owe, but with all the fees I’d estimate I owe a total of ,000-,000 spread out on them all. Without the fees it would have been half of that. In addition, I have ,000 in student loans. I’m not making much money right now at all. For now I’ve just been focusing on paying my student loans in the hopes of rebuilding my credit. I don’t see how I could afford paying off my credit cards. What should I do about them? I’m not getting many calls anymore, but lately someone is calling threatening to sue me for 00 credit card. They have threatened to sue me before (Citi Bank) and even sent me a summons of court letter, but never followed through. What is my best option? For now I plan to keep ignoring them but I am sick of this problem. Help!
Thanks roscoedeadbeat. All my credit cards are already in collections, and they have been for about 2 1/2 years. I also had a 2nd Citi and 2nd Chase card but paid them off as a settlement years ago with some student loan money… Now, the problem is, I don’t feel like I really can afford to pay them. I’m already having a hard time paying my student loans- right now I have to pay 0/month and soon I will start paying my private loans which will be around 0/month for a total of 0. I feel so overwhelmed! Maybe I’ll talk to them and ask what is the lowest they can settle for, and then see if my family can help me at all, but I hate to ask them for help. Thanks for your answer though.
Thank you for the answers Sgt Big Red and carl.bennet. I looked up the statute of limits in my state (MN) and it is 6 years… so I am about halfway through. I might end up making more money in the future, but I don’t see it happening for a while. I plan to go back to school within the next year (either part-time or full-time if I get a graduate assistantship), and that will take me at least 2 more years. So maybe I will continue to wait it out. I don’t want to deferr my student loans right now because I want to save deferrment for a later time in case I’m in a worse situation then- such as if I have a baby or get sick. And I can only defer my federal student loans, I can’t defer the state loans. It’s so hard- I wish I had been smarter about debt, but I guess you live and learn. I appreciate your answers.
Oh one more thing- this is a bit desparate, but if I moved out of state to where they have a lower statute of limits, would the new statute of limits apply to me? Or would it be the same statute of limits since it originated in MN? Thanks!

Technorati Tags: 6 years, best buy, capital one, capital one card, chase card, citi card, cold turkey, collections, credit card, credit cards, hard time, lane bryant, loan money, much money, private loans, student loan, student loans, summons, wal mart

So, the dreaded question… File bankruptcy or not?

I was kicked out of my house at a young age (16 to be exact), and the only thing that helped me not be homeless was the dreaded credit card, since there’s only so much money a 16 year old can make.

So now with the credit debt, the school loan debt, the car payments, etc etc, I am in over my head (over 15k). My question… Should I file bankruptcy or not? Also, should I file Chapter 7? Also, what would the best attorney for me be? (I was looking at Peter Francis Geraci, but I can’t find anyone that has filed with him). Also, what is the time frame i’m looking at till I CAN actually file bankruptcy (I heard it takes over 2 years?)

Please, ANY help will be beneficial. I wasn’t a "bad kid" that got kicked out into the streets… I built myself a life in a state by myself and tried making it, but unsuccessfully.

Thank you so much for your help.

Technorati Tags: bad kid, car payments, chapter 7, credit card, credit debt, much money, peter francis geraci, school loan, should i file bankruptcy, time frame

With all the people going bankrupt and being in debt 10s of 1000s of dollars, should we bring back indentured servitude? Heres how it would work…you spend money on your credit card…if you stop paying on it, you are taken from your family and forced to work for the bank, 16 hours per day at a set 10 dollars per hour (no more interest is allowed to be added once you are a slave). The bank you owe the money to has to feed you rice & beans (because its cheap) and they also have to put you up in a place to live, but they can cram as much as 10 people in one room. During this time of servitude, you are not allowed out until your debt is paid. If you have kids, they go straight to the state and you get them back when your service is over.

I think this would stop many people misuing their credit and get them to get second jobs so they dont have to go into servitude…what do you think?

Im pretty sure all the debt free people will agree with me and people with debt say its cruel

Technorati Tags: 1000s, 10s, amp, credit card, free people, jobs, money

I have just been notified that a credit card that I was working with has been charged off and it has been placed with an agency to file suit. They are saying they will garnish wages, freeze accounts and attach a judgement to my property. My employer says that my wages can not be garnished, but what about my account. I was honestly trying to make arrangements with Chase, we had a loss of income and things were very tight for a while. If they attach a judgement what does that mean? Will I have to go to court over this? They are willing to settle for 749 if I can come up with it today!! They just called me yesterday. I do owe this debt and am willing to pay, but they are unwilling to work with me any longer. If I file bankruptcy will that stop the judgement and garnishments? I am not behind with my other creditors and even will be paying 3 off this month. The payments were manageable until my interest rate was increased because of a payment 4 days late and my payments doubled to 4.

Technorati Tags: bankruptcy, chase, credit card, creditors, interest rate, judgement, wages

Nine thousand into debt here on my credit card

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I have debt that may total about 00 but i live pay check to pay check and just found out i am pregnant. i have not paid any of this for about a year or two. trying to get my life back in order before the baby is born but was hoping to settle my debt. I had 3 credit cards one for 300 and one for 700 one i only owed 80 dollars on but stopped receiving bills, i also owe a bank money to just not sure how much. i couldn’t make the minimum payments anymore. lost the place i was living at and everything. finally getting my life in order but at my whits end. and advice would be great
so basically i cant pay or settle for anything? if i cant deal with the collection agency then how to i get rid of the debt without them taking further action against me?
I do not have any money but i do have a snowmobile i can try to sell. no i haven’t got anything from them at all no mail just phone calls that i don’t answer. but thats what happened to my parents but they owe way more then i do but i dont want that to happen. i dont want to wait around for something like that to happen. even if i somehow got the money to give them 300 for the 300 limit credit card and just not pay all the interest and late fees… would they be more willing for something like that? i have not ever contacted them in the past 2ish years. i dont know just frustrated trying to find answers of how to deal with this when it is this out of control….

Technorati Tags: bank money, credit card, credit cards, late fees, mail, minimum payments, parents, snowmobile, whits end

I can’t open bank account because I filed bankruptcy. The banks will not accept because of that. I have been looking for alternatives and while googling I found a thing known as "online account". They say that to open online checking account, i make opening deposit with credit card. Whatever I pay with credit card is my online bank balance. And that then they will mail me checkbook to my house. For depositing check, they said I should scan and email them the check I want to deposit. And that they will use those scans to process the deposit. They say they will also send visa check card through mail, and it can be used at any ATM. Is this scam or real? The online check account site says initial deposit must be 500 dollars using credit card or western union. Is this real or scam?
Also that I should scan and email copy of my social security and driver license for opening of account

Technorati Tags: atm, bank balance, bankruptcy, banks, checkbook, checking account, credit card, driver license, googling, initial deposit, mail, open bank account, social security, visa check card, western union

I am a joint owner of a credit card,& the other owner has filed bankruptcy on that card which makes it all my responsibility to pay. Can I also file on the same card. Thank You for your time.

Technorati Tags: amp, bankruptcy, credit card

After all they are always sending credit card offers out and they are not very selective in who they issue cards to. They keep raising the limits and then if you get in a bind they just say oh well and refuse to work with you.

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i had a 2000 dollar credit card about 4 years ago and i just got out of controle. i just recived a letter from a debt collector and the the card is now up to 11000 dollars! i also have some med bills about 4000 dollars. i tried calling the debt collector and he was real slick. he tricked me into telling what i did for a living and then guessed where i worked! (he’s local) he said "just send 100.00 a month but i cant promise there wont be a jugement agasint you, but i promise we wont garnish your wages". anyway he said just send 100.00 a month. he wasent willing to work at all!!! what should i do?

Technorati Tags: credit card, debt collector, dollar credit, jugement, wages

I have a joint account on a credit card with another person. The other person is filing bankruptcy .Can I also file on the same card if they want total payment from me? Can their bankruptcy effect my credit? Thank You for your time.
Thank You very Much for both of your answers. They have helped a lot..

Technorati Tags: credit card, filing bankruptcy

although they did steal my credit card and information, I can’t file identity theft cause I dont want them to go to jail. The person who did it has no way of paying it back and there not much that person can do. The thing is can I file bankruptcy.I have a government job will they take money directly out of my payroll check. I’m almost done with my car payments if i file bankrup. will they take back my car?
the criminal is a gambler and lost all the money in the casinos. if i do turn in the family member will what is their punishment

Technorati Tags: bankruptcy, car payments, casinos, credit card, family member, gambler, government job, identity theft, money, payroll check

I owed money on my credit card which I can not afford to pay back. Can my credit be clear in the future if I do not file for bankruptcy? And if I file for bankruptcy, what is the % I have to pay back?

Technorati Tags: bankruptcy, credit card, money

I’m looking for information about how a person can file bankruptcy on a specific credit card, if I so choose. Any information would be greatly appreciated.

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I am young, and don’t own any property, and have no bills besides a cell phone. I made the mistake of maxing out a credit card when I was 18, and have been referred to a law office by a debt collector. Does this mean I will be going to court? is there anything I can do to avoid going? What should I expect if i go? or don’t go? What are the chances of settling it with the law office before the court date gets set? Any information on the topic would be greatly appreciated.

Technorati Tags: cell phone, credit card, debt collector, going to court, maxing out, mistake

i had a credit card 5 years ago but unable to settle my account due to my financial difficulties then. Now im working outside my country to gain financial freedom. I traveled regularly to Europe and Asia but had difficulty in getting US visa. My question is since i had bank debt before, will that bank somehow blacklisted my name and send the info to US Embassies???

Technorati Tags: asia, bank debt, credit card, embassies, europe, financial difficulties, financial freedom, visa

I’m going to file ch. 7 soon. All I have of value is my 00 car. The letters from the credit card agencies have just begun to switch in tone from very polite to "more aggressive actions" etc. What exactly can they do? Can they take my car?

Technorati Tags: aggressive actions, ch 7, credit card

My Wife and I have been working with a debt consolidation company for the last few years and they are telling her they can’t settle the last debt of 4,000 even though we have 3,200 and they claim they won’t settle so now they are mailing us a check and taking there fees out of it. Should we attempt to settle ourselves? How much should we offer? Another lady with the consolidation company said we owe 5,500 now so we don’t know who to believe. They are threatening to garnish her wages, this debt is from a credit card she had as a teenager.
And also our state taxes are in withholding and we have no idea how to recover it. And is it fair for the debt consolidation co. to take an early termination fee even though we never cancelled their service they told us they couldn’t get the last one settled.

Technorati Tags: credit card, debt consolidation company, state taxes, teenager, termination fee, wages

I had a credit card go to a collector about 8 years ago. I have not heard from them in about 5 years. I need to settle the debt though in order to purchase my house. I have no clue who the company is. Is there some sort of search I can do to find them?

Technorati Tags: 8 years, clue, credit card

I mean prior to filing bankruptcy, not after I file bankruptcy. It’s my understanding that if you spent on your credit card 6 months prior to filing bankruptcy, it is considered fraud. Is that true? We just paid some bills on our credit cards and need to file bankruptcy soon.

Technorati Tags: credit card, credit cards, filing bankruptcy, fraud

12,000.00 owed for credit card 10,000.00 is interest alone collection agency will not settle for less than half. I need some good advice I don’t have 6,000.00 anyone have the same issue with a real solution?

Technorati Tags: credit card, good advice, real solution

I’m in trouble what can I say and the only thing left is to file bankruptcy. I do own a home and I’m current with the payments.I do not want to lose my home.What I make right now is just enough to support myself and my kids. Few years ago my then husband took a second mortgage on another property that we own at that time. After separation we have lost that home and we agree for me to remain in this home now and pay for it which I do. The problem is that things changed. I lost my job , divorce etc and we stop paying that loan. Its about 27.000 dollars. After stop paying the loan was handed to a collection agency. I agree to pay them 100 a month. But is getting harder in harder to go by. Mortgage , food, gas , 2 kids ,etc I can’t make it. I really don’t have any other debt except a 1800 dollars credit card that is still current. I have a part time job now and I don’t know how to make it.The ex husband don’t help. My question is can i file to bankruptcy on my own? I don’t have money to pay a attorney. My credit is ruined already.I need to get out of this without loosing my home. When I did my taxes I paid off some other bills that I had. I don’t want to do this just to get away from my debt, but I don’t see any other option. I make 900 a month.
Thanks
i forgot to say that I live in Illinois

Technorati Tags: bankruptcy, credit card, divorce, husband don, money, part time job, second mortgage

My friend had a k credit card that never paid for, was served and did not show up to court, now his bank account was frozen and owes 18k, will he be protected under bankruptcy laws for that debt if filed?

Technorati Tags: bankruptcy laws, credit card