Hello,
we had a few credit cards over last 2 years , total amount of still outstanding balance is about £ 28.000.
We had our bad luck with running a small business – investing in stock which hasnt worked out – partially lost, partially it has arrived broken etc.
Over last 1.5 year we have been paying all cc companies on time etc but now we cant anymore.
We are both self-employed and dont have any fixed income .
So – what to do? We dont care of credit history ,but we have amortgage which we are paying so – any advise how to settle all that down?

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I filed chapter 7 back in Dec 2001 when it was discharged.

My credit card company supplies TransUnion scores and credit history every month and it shows that the derogratory item (which was 1 for bankruptcy) is now 0.

So was my bankruptcy removed and why was it removed after only 6.5 years?

Technorati Tags: bankruptcy, chapter 7, company supplies, credit card company, credit history

We are about to pay off the balance on our Chapter 13 bankruptcy plan. At some point after our discharge is granted we want to buy a new car. We are planning on putting like 40% down. We have a good credit history with past car loans and can now comfortably afford a large car payment if we were approved. Has anyone out there been through this and/or knows if it’s difficult to get approved for a car loan after a Chapter 13? What kind of interest rate can we expect if we are approved?

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Does anyone know if we can be accepted for home loan of under 50000$. One does not have credit history and is slowly building it by getting credit cards and some services like cell phone and the other filed for bankruptcy discharged chapter 7 about 5 months ago with a credit score between 400 to 500. Thanks for your answers

Technorati Tags: 5 months, bankruptcy, cell phone, chapter 7, credit cards, credit history, credit score, home loan

I am 23yrs old my debts are from 07 i have a car repossession, 2 credit cards, a loan, a cell phone bill, some medical bills in my credit including a judgment and all that equals out to about 10k in debt. I have dreams of someday owning a house. maybe when I’m 30? but for now i would like to obtain a credit car for everyday expenses. Should i file bankruptcy? I am obviously more conscious about the responsibility and importance of a good credit history that’s why my debts are all from 2007 but idk what steps to take. should i? is it beneficial?

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I’m studying to become a nurse, however I am struggling financially and may have to file for bankruptcy before I finish school and become a nurse, will I be able to get hired as a nurse or will they look at my credit and say that they can’t hire me b/c I wasn’t financially responsible. I’m going crazy worrying how the bankruptcy will affect my ability to get a good job. Does anyone know what importance does credit history play when it comes to getting hired for medical jobs?

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I had a medical problem and couldn’t work for 2 years and really hurt my outstanding credit history. I had a ,000 Visa card debt and a ,000 Mastercard debt. I got on a payment program on both cards, offered to me by the banks. I paid both down to below the limit. The k one re-activated my account and I have continued to pay it down to k. The k account, I missed a payment, was dropped from the program and it has now climbed with late fees and penalties to 10. The bank offered to settle the whole debt by paying 10 (70%) by Sept 15th. Last I checked my FICA was 575 or so.

Here is my question? Will I have a more difficult time getting my credit rating up if I do this 70% settlement by paying 10 by the 15th or would it be better to do the following – pay roughly ,500 asap and then pay the rest off over the next 4 months? My goal is to repair my credit in the shortest time possible. I have about ,500 now and might be able to borrow 10 more but it will hurt.

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I am a single parent and have close to $ 15,000 in credit card debt. I tried calling credit card company to make an offer in lower amount. Do you think if credit card company settle with in lower amount of payment would it affect my credit history. What is the best way to go

Technorati Tags: credit card company, credit card debt, credit history, single parent

While trying to settle a debt with a collection agency, I was transferred to a supervisor and he started giving me details about my credit history. I told him he did not get my permission to look into my credit report. He then said collection agencies have that right when attempting to collect a debt. I got all his information and told him I would contact him trough a letter. According to him, the call was being recorded? Is he correct? If not, What can I do about this?

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They will not hire me because they do not care what circumstances lead to bankruptcy. And each company who runs my credit history, this puts an "entry" on my credit, which makes my credit score go down even further. I cannot go without a job for another 2 or 3 years. Help!

Technorati Tags: 3 years, bankruptcy, circumstances, credit history, credit score, job

I was told by a car dealership salesman that the only way I could get into a car was through a lease, so I did. I have not had the vehicle for a year yet, but have put about 40K miles on it and am having a difficult time making the lease payment and paying the considerably higher insurance requried. I want to turn it back in, but am unsure about how much money they are going to try and bill me for for the mileage and wear and tear, and a host of other penalties etc. Will they put a lien against my home for this, garnish wages, etc.? Would filing bankruptcy before turning it back to them protect me from this? Would a bankruptcy be better than a repo on my credit history?

Technorati Tags: car dealership, credit history, filing bankruptcy, garnish wages, how much money, insurance, lease payment, mileage, repo, wear and tear

My credit history was great for the last 30 years but my house got foreclosed recently so my credit is in a freefall right now

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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…

Technorati Tags: banckruptcy, bancruptcy, bankruptcy, credit cards, credit history, creditors, debt settlements

My husband and I recently purchased a house. Right before our purchase we found out about a delinquent credit card. To make a long story short, it was a credit card that was in my husband’s name that he was to use when he was in college that his mom was supposed to be paying for. My husband had no idea that there was a delinquency until we were notified by our lender. The account has been closed since 2002. It states on his credit report that the "account closed at consumers request, charged off account, bad debt; placed for collections; skip." We do not want to bother his Mom about this. After no communication with Discover, for 5 years, we have now received a letter from Northstar Location Services, a collection agency (not from Discover), for a settlement amount which is 40% of the debt. What should we do, contact Discover, deal with the collection agency, or something else? I realize everything needs to be in writing beforehand, but can anyone advise me on this at all?
I will check out your other posts, Studly, thanks…as far as my concern with it, it is mainly because of the recent contact with the collection agency now after so many years. We were still able to get the loan for our house, so I am not really concerned about that part of it. Since it "technically" wasn’t our debt, but my mother in law’s, the bank didn’t really care. Actually the amount was pretty significant, 00 with an offered settlement of 00, which is why I’m extremely surprised that we were not contacted before about this. I believe the statute of limitation on credit cards is 3 years in our state. I know they can still take us to court over it but its probably unlikely since the statute of limitations has run out. I just don’t want to settle on an amount and still have it show up on our credit history for another 7 years. I think this just may be a last ditch effort by the collection agency to get some money and I just want to make sure we make the right decision.

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I have recently researched information on repairing bad credit after bankruptcy, etc. It appears that items, whether true or false can legally be disputed from yourself as frequent as every 30 days. And, unless the credit bureau agencies can provide valid proof (from the original creditors) within a 30 day period, they must remove the derogatory credit from your file. Although it can take 2 – 3 times of writing dispute letters to actually get a response, this seems very interesting. It also appears that the FCRA is really in the consumers favor, but not really advertised to us because the 3 major bureaus profit from our credit history. Any experience/advice on someone cleaning up their own bad credit (not through credit repair scams)?

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i have really poor credit, including a repossed vehicle and a foreclosure on a home. if i wait to file for bankruptcy until after the wedding will my wife take a hit on her credit? she has no credit history at all.

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im young, made some bad decisions in my short lived credit history…and i just cant take the harassing calls from creditors..im in college and currently unemployed…i live in los angeles…what is the first step to file for bankruptcy? where do i go? what do i do? who do i need to get in touch with?

Technorati Tags: bad decisions, bankruptcy, credit history, creditors