Can you file bankruptcy on only some debt items but not on credit cards that you still want to be able to use?
well, Im not filing for bankruptcy, but a friend of mine is and they think that they can just go ahead and keep credit cards that they want and file bankruptcy on the others!!!! I think thats SO wrong!
I’ve just got a summon yesterday by one of my credit card I have and I was wondering if I can still file Chapter 7? I do have other credit cards and medical bills that need to by paid as well that I haven’t been paying due to not having enough income to make the payment. Any opinions would be greatly appreciated!!
This summon was served in person and the real deal.
Currently I have about ,500 worth of debt that include credit cards, a personal loan, and doctor bills. I recently became unemployed and I haven’t been able to make payments on any of my debts.
I’m fairly young and of course my interest rates are high, ranging from 16%-24%. I use to not only pay my bills on time, I paid them all early. I like paying my bills. I don’t want to file bankruptcy but in this situation I don’t know what to do. I expect to starting working within 4 weeks.
If I try to start making payments, it will take several months to get caught up. I live with my family and I’m basically head of the household. I take care of my family of 5, and that’s why I’m in debt.
I don’t want to go to one of those companies that you make a monthly payment to and they make payments to your creditors. I could do that myself, and I would still be in the same situation.
Is filing for bankruptcy the right thing to do? Will I be able to, considering the new laws?
We are in the process of closing on our first house and don’t want to mess this up. My husband is being forced to file bankruptcy soon on ONLY medical bills. I don’t know if the bankruptcy should be filed just after closing to prevent a lawsuit from one of the creditors or if we should just go to court and settle the bankruptcy after a judgment has been passed. If we filed chapter 13 bankruptcy, what kind of percentage of the total bills do you usually have to pay on medical bills; or does it depend on your income and expenses? Help please! Also, will our credit cards (which we do NOT have a problem with) be taken away from us?
My wife and I have settled 2 credit cards thru a debt settlement company with no problems. We are now in the process of settling hers, this is the last one. But, now it was sent to a law firm and now she has to go to court. We have a little saved up in our acct. w/ the settlement company. Was wanting to know if this has happened to anyone and if so, when you went to court were still able to pay off your debt when a settlement was reached or what.
I sent my creditor a certified letter of debt settlement that I would pay in a lump sum, my debt .30 to the dollar. and If they were willing to settle send me a letter signed in agreement! How long do they have respond? It has been a week. Should I keep sending them the letter..? am I on the right track.
I am only 19, and want to fix my mistakes I made with two credit cards I made last year! also how will it look on my credit if its paid?
My spouse & I are in serious financial problems. I think we need to file bankruptcy because he has stopped paying his credit cards. i’m keeping up with the utilities and my own credit cards. we own 2 homes, 1 of which is on the market and my spouse refuses to bring down the asking price and now the morgage company has started foreclosure on that property. he’s been able to sort of keep with the morgage payments on the home we live in. my ? is, is debt settlement a good option? I don’t know where to turn to anymore. My spouse wants to "keep up the fight".
I have a minimal amount of credit car debt less than 10k, but the minmum payments were killing me and I wasn’t getting anywhere with the balance. I joined a credit counseling service and have not ever had a late payment on iut. Now it is on my score as a negative account because of the DMP. My husband and I are doing arefi to pay of my credit cards, and a friend told me that some credit card companies will take a lesser amount to get you to pay it off. I called the first company and they knocked 2K off right off the bat. The next company said they would negotiate a settlement ONLY IF I AM DELINQUENT. Should I let it go delinquent to do a settlement? Will it hurt my credit any more than it already has if it is late???
I would like to settle my debt with credit cards and one loan. I have heard you can write to them and settle the debt for less than you owe. Is this true? Does anyone know how to do this or know where I can get sample letters? Thanks!!
I am 23 years old, in college part time and working part time. I am recently divorced and have about ,000 in loans and credit card bills I got stuck with that were all aqquired during the marriage. Since I can only afford minimum payments (and receive no financial aid) I feel like I should look into bankruptcy.
I have two credit cards, so If I file bankruptcy on just my loans (,000) and one credit card, does keeping the one credit card plus an account balance with Dell (for a laptop I financed) help my credit score at all, as opposed to filing on everything I owe?
And everyone says to do it before I get any older if I’m going to do it. And I don’t expect any new bills (I have a dependable car and low rent) anytime soon.
Sometimes I feel like bankruptcy is "cheating" but I had an extra income at the time I signed for the loans, and of course didn’t expect to get divorced. I feel helpless, as the balances barely go down and i’m spending money I need to live, or I’m going to have to quit school.
I am no longer working and have closed my credit cards with high balances (the most is 00). I will be getting a chunk of money next month and would like to settle these debts on my own without having to use one of those debt management companies. What is a fair offer to make on a debt that size? How do I go about doing this, and what about my credit score? Please help.
When my husband and his ex-wife separated, the ex-wife went on a ,000 shopping spree on credit cards.. My husband (being the dummy he is) just started paying off collections as soon as he found out about them. One collection agency (stanley weinberg and associates) called him and told him he could settle his 34 debt for 3800. Again, being the dummy that he is he agreed to an electronic check and never received any letter confirming the settlement. 4 to 5 years later we are trying to buy a house and the 34 debt is still on his credit report. We have no proof that they promised to settle, all we have is the bank statement showing he paid 00. Any ideas what we can do now? We need this off as soon as possible..
I have five credit cards totaling approximately ,000. My parents offered to pay them for me (and I would pay them a lower monthly installment). The question is, I would like these companies to settle for less. I have heard they are more apt to settle if they think you may file bankruptcy? I am not going to file bankruptcy.
Besides the moral factor, would they ever know/could it go against me?
The account was severely behind 4-5 years ago but has been current since.
My family and I are in the belly of the beast, due to this economic crisis. Well the situation is I racked up about 60k in credit card debts,
however I’ve been making my payments on time. I cannot keep up with these payments anymore, since I am a self-employed constructor, business has been slow and I can barely make ends meet. I was wondering if I can settle my debt and monthly payments directly with the creditors, or should I go to a debt consolidation firm? If I decide to negotiate the debt myself, should I wait until all my credit card accounts go into default? I had good intentions on paying these credit cards back immediately. Because I have just finished building a brand new house, I’ve put all my blood sweat and tears into this project. I had about 1/3 cash, 2/3 from equity and loan in order to complete the house. I assumed that once the house was finished I would be able to apply for a jumbo loan, and pay off all these debts. But have had no luck for about 8 months already. Please give me a very honest answer, thank you and stay motivated.
I just wanted to know if I went bankrupt can the Credit cards put a lein on my home.
I am really struggling to make payments on my credit cards. My credit score is already fairly bad, and I don’t want to make it worse by making late payments. Would it hurt me for a long time to settle on one of my credit cards? If they do accept a settlement, what % should I go for?
Last year my company did away with all overtime. Since then I have been using my savings to pay my credit cards and such and now that it is depleted I am starting to fall behind. How soon should I seek the advice of a lawyer for bankrupcy. I don’t see my company reinstating any type of overtime.
I make about k a year
mostly hospital bills and lots of small things, phone bills stuff like that. This debt is from years ago and my credit has always been so bad that I havent been able to get credit cards. I feel like I have always been bankrupt.
What is the car exemptions for chapter 7 bankruptcy in ohio?
i keep getting conflicting information. my car was paid off in full on one of the credit cards i am filing bankruptcy on. so i own it outright. it is my only car, it has a value of 7-8500 depending who you ask. if i filed 7 could i keep my car? obviously i would rather file 7 then 13.
I have a past repossession due to job loss for over 34k and they are charging me interest a day. I have 6 credit cards with chase, capital one, and a home depot card, these will not be included in the chapter 7 because I don’t own any on these cards. Thanks for you help.
I’ve made a big mess out of my life by making mistakes I could actually afford at the time. I had a great job making enough money that I could afford my own apartment and a brand new car. Life was great for about 2 years, all my payments were on time, and I had a little extra cash so I could go out with friends on the weekends. I met a guy and he moved in, and everything went straight down the tubes. My boss fired me and didn’t give me an explanation ("something needs to change and we think it’s you" whatever that means), and I found another job immediately but only making about half of what I was making when I got fired. This whole time, I was still paying all the bills for the apartment and car, even when I had a full time roommate because he didn’t contribute a dime for the first 5 months he lived with me. I used up all savings and started to borrow money from family and friends until they all cut me off ( reasonably stating that because I had someone else living there, they shouldn’t have to rescue me and I’m inclined to agree ). so at this point, I’m about 2 months behind on my credit cards and car payments, and my brain snapped and I told my bf that he had to start helping with the bills. at which point, he started "helping" with about 1/4 of the bills for the apartment ( i never expected him to help with the car or credit cards, but I do feel he should have had to help with 1/2 the bills for the apartment, especially since his kids were there on the weekends as well ). I quite stupidly started just flat out ignoring the harassing calls from creditors and collection agencies (hey, I couldn’t pay my bills just to live, sleep and eat much less give anything to the creditors, and they refused to work with me the first couple of times they called). I surrended my 2 year old car that I adored because the creditors told me they had reported it stolen (i don’t even know if they can do that, I was 2 months behind on payments). also adding to the misery, I had co-signed a loan for my brother to get a truck, which he also defaulted on and surrended. So to date, I have ,000 in debt and have no way of paying it back (at least not for the foreseeable future). I do have a job, making less than 0 a week with no possibilty of any overtime and / or supplemental income. last october, I was severely depressed and got behind the wheel of a car drunk, got arrested and charged with a dwi. so now, I have to pay rent, fines and surcharges, my car insurance went through the roof, and my phone bill. at the end of the month, I’m left with about , 0 if I’m really lucky. I talked to a credit counselor to try to get the debts under control, and she informed me that my ONLY option is bankruptcy. I’ve come to terms with the whole bankruptcy thing ( and believe me, I’m not thrilled about it ) but the biggest problem I’m facing now is trying to come up with the money to file for bankruptcy. The creditors are getting more aggressive, I’ve been sued at least twice, and they are threatening bench warrants and garnishing my wages. I can’t afford what I’m living on now! If they garnish my wages, I will not be able to pay for something (most likely fines and/or surcharges) and all of this is going to turn into an even bigger mess.
I’m at the point now where I understand all of my mistakes, realize that I have to pay for them. But I’m also at the point where I am extremely close to suicidal. I can’t eat, I can’t sleep and I can’t concentrate on anything. I’m ill at the situation I’ve created for myself, but I don’t know how to fix it. I don’t even know where to start. I quit drinking nearly 6 months ago after realizing what it had cost me. Is it too late? Am I doomed to be a mess my whole life? It seems like this situation never gets any better, it’s gradually just getting worse, to the point of just giving up completely.
This situation feels completely hopeless. No one has any advice for me. every one just says "that sucks". well, no kidding! I hate to sound so shallow, like money is the only thing that matters to me. I don’t just care about money ( in fact, I HATE IT ). The fact of the matter is that my whole life feels wasted, like I’ll never recover from any of this. I hate no longer being self sufficient, and feel like I will never be able to take care of myself again.
Is there anyone out there that has any advice for me at all? Steps I can take to improve the situation? Or possible jobs I could take on to try to make some extra cash so I can take care of all this with a less than stellar record? I just need some help and this is my last resort. I really don’t know what else to do.
And for anyone who has snarky remarks, IE: you’re on the internet ( so I must have $ right? no, I use my computer at WORK), you made your bed blah blah blah, please keep the comments to yourself. the purpose of my post is a last ditch attempt at trying to get some help, not lose any more of my self esteem, if there is any left.
Thanks
I am looking to settle my credit cards for less than what I owe and was interested in getting a company to do this for me. I am not interested in credit counseling- I’ve tried it before and just need to get this debt paid off.
I am trying to settle my debt (from credit cards) with two creditors. I am a complete ignorant of how these works.
Please help answering the following :
1) Is settling better than bancruptcy ?
2) Are there different types of debt settlements ?
3) Does it make any difference if I settle with the Bank or with a collector ?
4) how do you compare the effect of settlement vs banckruptcy on credit history ?
5) Is auto re-possesion equivalent to bankruptcy ?
Thank you…
am in 63,000.00 debt for six credit cards. I need to get help getting bankruptcy. Do I go to a bank counselor or to a lawyer or can I do it myself? Thank
I just checked my credit score for the first time and saw some unpaid things. They are not credit cards but there isnt enough information to contact the collection agency to make payments? How can I do this?
My wife and I both lost our jobs a month ago and now we’ve decided to head to college together.
–> bad credit car loan about to be repoed, 2 credit cards (i already been sold to collections), apartment bill about to be sent to collections, and some medical bills
Can we get enough aid to pay for college and then for my dental school IF we decided to file bankruptcy?
Also, how much does bankruptcy cost?
Will bankruptcy cover all of the things I’ve listed before?
Thanks for your help everyone.
I owe a substanstial amount on credit cards 30K which I can no longer make payment. There is this debt settlement company that says they will settle my account for %45 there fees included? It will be in a 3 year payment plan. Is this all some sort of a scam? Has anyone had experience with these types of companies?
last year my wife changed careers, we risked no insurance for 2 weeks, i had a heart attack in those 2 weeks, almost 0,000 i am doing ok, i have depleted our saving, sold my 57 nomad, and cashed in my life ins., to pay the bills. these "wolves still call everyday wanting me to increase my payment(to over 0 i have 2 different bills wanting this much) i cannot afford this, i haven’t been able to pay my credit cards, they are huge now with all the late fees, i can barely put food on the table. i would like to keep my house. should i file bankruptcy and rid myself of all the stress? for my health’s sake
I own two homes and am currently loosing the one I live in while I rent out the other. I have a contract with the bank to keep my home I am renting while doing a quick sale on the home I live in. I also have alot of debt in credit cards and am looking into filing bankruptcy. Is it possible to file bankruptcy and keep my home that I am renting?
well my parents, they owe credit cards, and student loans up the heeezy! and we’ve been paying and paying we’ve had a good record for almost 14yrs of paying credit cards and house on time. but with how things are now the only solution is to file bankruptcy. can we lose the house though if we do ?