I lost my job just under two years ago & have been struggling to keep up with bills ever since. It’s actually somewhat amazing that I’ve lasted this long, but it’s coming to a point where there’s no way I’m going to be able to keep my creditors from filing for foreclosure and repossessing the vehicle.

I’m considering bankruptcy, it would probably be better for me to go ahead & do it now while I still have enough money to pay for the lawyer and filing fees, but I’m still worried that this isn’t the best way to go. I realize there are different types of bankruptcy, and that I may be able to keep the house & car if I have enough steady income & can work out some kind of deal with the creditors (I’m really vague about how this works, but that’s my basic understanding).

Is bankruptcy really the better alternative? Should I hold out until foreclosure begins to file for bankruptcy? What’s the best way to handle a situation like this?

Technorati Tags: amp, creditors, enough money, foreclosure, job, lawyer, types of bankruptcy

I mean seriously, I got a bachelor of science degree in 2008 and couldn’t even get any job at all until August of 2010. The job I do have is doing hard work (lifting, pulling, emptying trash) at a thrift store where I get paid .50 an hour, which is considered a low wage. But in my case I am simply not worried about material things and I dont usually spend money on anything other than rent or other bills that need to be paid. I live in a mobile home with my dad and it is far from a lavish lifestyle, but I don’t consider myself deprived because I don’t always go out to eat or spend tons of money on material things. The truth is I am just not worried about things like that in general, and I am also not terribly worried about what kind of job I have or how much I get paid (even if I did go to college), I might WANT a better job, but I am HAPPY just as long as I am making enough to live decently. That being said, I just could never understand why it seemed like other people were upset because they were "not making enough money", yet they go out to eat and want to buy expensive material things which cost tons of money. It dawned on me that there are people like athletes who make several millions a year, when the truth is NO ONE needs that much money to survive, not even if they have a family. Who needs several million a year, even if they "earn" it? Do you not think I "earn" more than .50 an hour with the intense physically demanding work I do?
I don’t know about you, but it seems to me that republicans are the ones who want it so that people will make so much money when they don’t need anywhere near that much, yet they want to place the blame elsewhere when we are in a situation like the current one involving the government going bankrupt. Why can’t we just return to a time where people accepted and were paid a decent wage relative to their employment and were not worried about lavish living, but were happy just as long as they could live decently? Because the truth is this government could really save a lot of money were it not for individuals getting paid rediculous amounts of money as they so often do these days. These cuts do not even have to be that drastic, for example if a group of athletes, singers, athletes, e.t.c. is currently making million a year each, that could be reduced to million a year for each of them, or perhaps not even reduced by that much either. Even million a year is a TON of money and more than any family will ever need, yet this type of reduction when multipled by several people would create untold amounts of additional revenue that does not currently exist to improve the economy among other things.
I just really think that we should at least consider something like this, because it pisses me off that we are in this situation with the government going bankrupt when there are people being paid rediculous amounts of money. Why not just reduce their pay by a small amount, which will add up significantly, in lieu of wanting to cut necessary spending elsewhere such as with entitlement programs?

Technorati Tags: bachelor of science, bachelor of science degree, dad, decent wage, enough money, job, lavish lifestyle, lavish living, material things, mobile home, much money, republicans, thrift store, tons of money, trash, truth

My wife and I are planning on filing bankruptcy. I went back to school about 6 years ago, racked up a ton of debt, and then just before graduating, I got did something very stupid and ended up in a 1 year legal struggle, followed by 2 months in jail, and 3.5 years in counseling/treatment/restitution/fines/court costs etc. The question I have though is this: I had 2 credit cards that were above and beyond their limit, and I told them a while ago to get bent, that I was filing, that was about 12 months or so ago, (it has taken that long to get enough money to file) I also have a rash of medical bills and other assorted odds and ends. But the 2 credit card companies have not sent me a bill in all this time. I don’t know if they went ahead, called it a bad debt and said screw it or what. But those were the 2 largest bills I had, and without those I may be able to dig myself out of the hole I am in. Is there a way I can find out if these are still outstanding?

Technorati Tags: 12 months, 6 years, assorted odds, bad debt, counseling, credit card companies, credit cards, enough money, filing bankruptcy, legal struggle, medical bills, odds and ends, rash, restitution

I’m 20 years old, 21 in July.
I currently have about 10k in debt—I know it’s not a lot, but I also know I’ll never be able to pay it back.

I had–NO CHOICE–but to move out on my own at 18. I survived off of 4 credit cards for a while and was paying them when I had a "normal" job.

In the past year I have been laid off, I now work for tips at a hair salon which gives me enough money to live but not pay my debt.

I also have about 2.5k that is due to a college I was going to…and 1.75k to Washing Mutual because I fell for one of those money order scams a few months back–whats even worse is that the person that scammed me was using a stolen idenity so I can’t even go to small claims court. I have reported the scam to the government but they can’t help me.

So my question is…Should I file Bankrupcy? I already can’t use my bank account so not being able to do so won’t be a major shock.
In addition, my bank account which is now closed due to the scam, was joint with my boyfriend..My account, I added him later…if I file, will it clear the bad account from his name?
Thanks to those who answered, but it seems you are not getting the point.

Everyone keeps telling me to pay it off slowly, NOT POSSIBLE. AS I SAID:

I make enough money to pay my rent and my ulilities, nothing more.

I can’t file a FASFA because my father chose to claim me on taxes although he doesn’t support me, I’m not about to sue him though or report it.

Secondly, telling me to sell my 6 year old computer isn’t going to get me jack.
Third, ITS NOT A STUDENT LOAN. I would have said it was a loan.
AND…..

AS for the scam, I was between jobs and was told I was working for a charity, being that it was around the holidays I was caught up in the whole holiday spirit and thought I was helping children. I am not one to sit on the internet all day and had no idea that this was such a common thing, I thought I was working.

Technorati Tags: charity, credit cards, enough money, fasfa, hair salon, helping children, holiday spirit, holidays, job, jobs, money order, old computer, scams, shock, small claims court, student loan

With over ,000 in credit card debt and not enough money to meet monthly minimum payments, is it better to settle balances with the credit card companies?

Technorati Tags: credit card companies, credit card debt, enough money, minimum payments

I have good credit but too much debt. Which one would be better?
I have a good credit score but I do not make enough money to pay my credit card bills. Should I consolidate them or should I file for bankruptcy?
I have close to ,000.00 in Credit Card debt.

Technorati Tags: credit card bills, credit card debt, credit score, enough money, should i file for bankruptcy

All the credit cards were in my name and I live in a state that is not a community property state. I barely make enough money to live on myself. Why do I feel so guilty?

Technorati Tags: community property state, credit cards, enough money

I don’t know how best to answer the summons. I have saved almost enough money to probably settle with the credit card company. I will get paid and have the last of the money in hand two weeks after I have to answer the summons in writing. Should I put this information in the answer or just answer it generically and hope they settle when my debt management company contacts them. My debt management company won’t contact them til I have the rest of the money in the settlement account.

Technorati Tags: company contacts, credit card company, debt management company, enough money, settlement account, summons

I filing for chapter 7 bankruptcy and I own a home that is worth less that what is owed but I wanted to keep it and was thinking that I could rent it out to a family as I am single and I could rent a studio apt for myself giving me enough to live on until I can get a better job hopefully in the future. I have to file bankruptcy but was hoping in the future I would have a job that pays enough for me to make the mortage payments on the house and still have enough money left over for living expenses, but right now I dont. Is it possbile to rent out the house and still declalre bankruptcy?

Technorati Tags: chapter 7 bankruptcy, enough money, job, living expenses, mortage payments

I’m 23 years old. Last year I was in a car accident and now I owe thousand something to the insurance company. I missed my payment last month and now they want to file a lawsuit. Meanwhile I’m paying 0 a month for a car I don’t even have anymore. The biggest thing on my credit report is a 0 medical bill. Just seems like there isn’t enough money coming in to pay everything every month. Should I file for bankruptcy? I really really don’t want to do this.

Technorati Tags: 23 years, car accident, credit report, enough money, insurance, insurance company, medical bill, should i file for bankruptcy

Now I know most European countries like Greece, the UK, Belgium, Italy, Germany etc. are all about high taxes and spending money on programs that are very socialist in nature. This is fine if everyone in the country is down for it, and will pay for it, but the thing is most people don’t want to pay for it and so a lot of these countries have debt loads that are like more than 100% of their GDP sometimes in the 2s and 3s depending on the metric, or their bankrupt apparently (i.e. Greece). Those big spending european socialist countries are all like way up there compared to the rest of the world in debt, they make the U.S. look pretty efficient spenders in fact. I don’t think countries like Sweeden or Denmark are any different from the rest of western Europe as far as socialist spending priorities are concerned, but they seem to carry a far lower debt load, lower than the United States in fact. How do they do it? Is it because they spend basically nothing on defense (because who the hell is going to attack Sweden? The Pittsburgh Penguins?) Have they figured out a way to get people to pay for socialist programs that put a disincentive on them to make enough money to fork over the money necessary to do that? Do people just make a lot of money there anyway, and there aren’t as many poor people leeching off the system in comparison? Really, what are the Scandinavians doing that the rest of the world can learn? I’m not dissing socialism here, this is an honest question, because they might be on to something.

Technorati Tags: 2s, 3s, bankrupt, debt load, debt loads, enough money, european countries, gdp, honest question, penguins, pittsburgh penguins, priorities, rest of the world, scandinavians, socialism, socialist countries, spenders, spending money, sweeden, western europe

I’ve learned that it costs money to file for bankruptcy. I think a little less than 0 if I do it myself and ,300 if I go to an attorney and they take care of most of the paperwork for me.
Problem is, I don’t even have enough money to file for bankruptcy where’s I’d do it myself. One of the loan agencies that I’m paying back that’s part of my major debt won’t let me borrow if it’s for bankruptcy. What do I do? Who do I turn to for this? At this point in time, wiping away my debt is the only answer. I know my credit will be shot for the next 5 to possibly 7 years, but it’s the only real option I have right now because I can’t afford to back back my creditors at this point in time.

Any help would be greatly appreciated.

Technorati Tags: bankruptcy, creditors, enough money, loan agencies, paperwork, point in time, real option

I had filed bankruptcy 4 1/2 yrs ago and was approved. The I got back into debt because of unforseen occurance befell me. I have medical bills that need to be paid, I have students loans I need to pay off, but are on deferment or forberance, and interested has accumlated, I got laid off my day job, working part-time evenings (14 to 15 hrs a wk, 7.50hrly) been looking for fulltime work for 2 mths, tried filing unemployment, owe the bank 0.00 because my accnt is a negative, I am behind on my gas utility bill, my car is in the shop for the 3rd time in 4 mths. Spent already 790.00 total in last month on car. Yes, I live by myself and have been looking for a roomate, because I can’t afford to renew my apartment lease when I’m not making enough money to pay all my expenses. Would I still be able to file bankruptcy with out any hassles? I want to file Chapter 7, I just don’t see any other way out right now. Please give me your answer…….

Technorati Tags: apartment lease, bankruptcy, chapter 7, day job, enough money, evenings, hassles, loans, looking for a roomate, medical bills, mths, occurance, part time, unemployment

I work in a small store that opened a few months ago. The people I work with are great, but I have a sinking feeling that we are not making enough money to operate much longer. I know some of the figures and they are just not adding up, at least not with the info I’ve been getting. How long does it take for ab usiness to go under, and what are some warning signs?

Technorati Tags: enough money, sinking feeling, small store, usiness, warning signs

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

Technorati Tags: 5 months, apartment, bf, boss, brain, brand new car, car life, car payments, collection agencies, credit cards, creditors, enough money, extra cash, family and friends, full time, misery, roommate, sleep, tubes, whole time

I filed bankruptcy before I never imagened that I would ever let myself get in this kind of trouble again. But I have bill collectors calling and now threatning to garnish wages . Most of what I owe is late and over limit fees. I bareley have enough money coming in now to just survive. what can I do?

Technorati Tags: bankruptcy, bill collectors, enough money, limit fees, wages

I filed a Chapter 13 bankruptcy, then dismissed it when I was not able to get a helpful deal from the creditors. I was able to get enough money together to settle with them after the case was dismissed. I have received the tax forms from them claiming that the debt might be considered income. Since this was debt settled after the case was dismissed, is it consider taxable income?

Technorati Tags: chapter 13 bankruptcy, creditors, enough money, tax forms, taxable income

My fiance recently got his credit report and has about ,000 in debt that he was unaware of. He’s been drawing disability for several years and has medicaid and medicare. The majority of his debt is medical bills that he thought the insurance paid for, but obviously it didn’t. About ,000 of it is basically identity theft. His former roommate opened up two accounts in his name and ran the bills up. We know he did it, but we have no way to contact that person. Well, my fiance decided his only way out of this is to file bankruptcy. However, he doesn’t have enough money to get a lawyer. Would he just totally be screwed if he filed himself? He doesn’t have any assets. No car. He rents his house. So, I’m assuming it wouldn’t be as complicated as it would be for someone with assets. However, I’m sure it’s no easy task either. Yes, I’ve heard the saying that if you represent yourself, you have a fool for a lawyer or whatever.. but we just don’t know what else to do. We have to get this taken care of before they start getting his pay check. He just started working again and isn’t drawing disability anymore so we’re really tight on money. Is there any way a lawyer could help him file bankruptcy and then we just pay the lawyer payments? I’m sure that seems pretty contradicting, but we could afford payments for the lawyer if we didn’t have all this other crap that we’re paying on.

Technorati Tags: assets, bankruptcy, credit report, disability, enough money, fiance, fool, identity theft, insurance, lawyer, medicaid, medical bills, medicare, other crap, roommate

I am currently 30 years old and a stay at home mom with 1 kid and 1 on the way. I do not own anything in my name. I plan on going back to work next year by March 2010. I had a credit score of 700 about 3 years ago. I lost my job about a year ago and racked up about K in credit card and medical bills. My credit score is probably not that great anymore. My boyfriend does not make enough money to pay the credit cards any longer. We were going to start next month and NOT pay them at all. We were paying the minimums before but need the money to eat and feed the kids now. We are thinking about filing bankruptcy but not sure if it’s the way to go. Here are my questions:

1) Do you think BK is the way to go?
2) Will the stores come and take my belongings if I file for BK (such as the television)?
3) Is it better to file for BK after filing for tax return? (So they don’t take the refund)
4) Will it be a problem trying to find a job in the accounting/finance field if I file for BK? (As some companies may do credit checks.)
5) Do you think I should talk to the credit card companies before I go filing for BK? I doubt they would really help me though.

Technorati Tags: 3 years, accounting, belongings, bk, credit card companies, credit cards, credit checks, credit score, enough money, filing bankruptcy, finance field, job, medical bills, stay at home, stay at home mom, tax return, television

I know it is not advised due to new bankruptcy laws, but I can’t afftord to pay a bankruptcy lawyer. If I could, then I wouldn’t need to file bankruptcy. I’m a college student with over 10,000 dollars worth of debt and I just found a job but pays 7.00/hr. I barley have enough money to pay for the court filing fees. So any suggestions on filing myself? Or any affordable bankruptcy lawyers in the metro Atlanta, GA area?

Technorati Tags: atlanta ga area, bankruptcy lawyer, bankruptcy lawyers, barley, enough money, job, metro atlanta ga, new bankruptcy laws

i have several rental property, i am renting them and i am bearely getting enough money to pay the mortgage., this year i gota pay taxes insurance close to 36k in taxes, and i dont have that money., should i file for bankruptcy? should i let the houses just go foreclosure? what is worst? pls help

Technorati Tags: enough money, foreclosure, insurance, mortgage, rental property, should i file for bankruptcy