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.

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He has a lot of old credit that he has tried to pay off, but with the interest it is just not going anywhere. How does he go about filing bankruptcy with him being on SSI? He owes about 12,000. What are the steps, such as filing in court, getting a credit report to ensure all have been included and so on? What are the court fees? Thanks….

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of my paycheck. He is now dying. Should I file bankruptcy for myself, jointly, or not at all and collect the ins and pay my bills only and of course the joint ones. I live in Arizona and we have some joint accounts and some non-joint accounts. We are filing bankruptcy with our house because we are seriously up-side down., should I do this or let them forclosure? We are only a few payments late so there are no proceeding started. They still want me to keep the house through home retention, but their offer stinks. HELP, HELP, HELP

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I’m about to file bankruptcy, but I read that you need creditor statements to do so. All the accounts are long since charged off, and I have no creditor statements. Can I still file?
I already have a lawsuit and am being harassed. I am filing bankruptcy to get rid of the lawsuit, and also ensure no further lawsuits happen, since other creditors have another two years to sue me. I also just like knowing that it’s cleaned up and dealt with, not just hanging there like they would otherwise be.

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Im filing chaper 13, and i have to show 3 years of tax returns. 2 of them are back taxes that i am just now going to be dealing with and then my 2007 return.

my lawyer says he needs copies of all 3 of the returns which i have. does he notify the irs that i am filing bankruptcy and turn in my tax copies?

it seems redundent if im going to be mailing them in and paying them myself.

plus i dont want to go to kinkos and copy 10 million pages of tax stuff…..

ps

i should also add that im going to be asking for the payment plan would it be best to call or just fill out the form for that? would the payment plan include all 3 of my taxe years or do i need to file a seperate payment plan for each one?

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I have been trying to eliminate my credit card debt. I have managed to pay off 2 cards, I am currently working on a thrid, but I have 3 more with high balances, about 20,000.
My husband wants me to file bankruptcy.
Should I continue with the settlement or look into filing bankruptcy?
Thanks
i am already in a debt settlement, but it is taking longer than expected. my credit is already unhealthy. i wanted to know if i should continue with the settlement or look into bankruptcy.

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house is modified and have been making new payments for 1 year now. I have about ,000 in credit card debt and now one collection agency is wanting to take me to court. Can I file for bankruptcy and save my house? We also only have 1 car which is paid off. We have only one income and are living under poverty level for house hold of 3. Also is there any options for filing bankruptcy without using a lawyer. I cant afford one. Please give advice. God Bless

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After having been wrongfully terminated August of last year, and being out of work for nearly 4 months with no income, my car was repossessed. On top of owing close to ,000 for that, I owe for a cell phone bill, as well as 4 credit cards, one of which I got to help out while I was out of work. Are there any other options to get myself out of debt without spending years and more money than actually owed to avoid filing bankruptcy? Some of these credit cards have gone up 4 times the amount that was initially owed. One of my major concerns is that I was paying the payment protection plan and none of the companies honored it. I would have easily been able to pay my debt had they honored the payment protection plan. I could dispute that and get the amount owed down to the actual amount, but where does that leave me with paying off a car I don’t have? Please, any advice would be greatly appreciated. I’m only 26 and the last thing I want to do is file bankruptcy.
I’m furthering my education and do not wish to have such poor credit for the next 7 years. How will I be able to afford rent, a car, and paying this debt off while going to school?

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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..

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My father co-signed a person loan for me and I haven’t been able to pay the bills do to me loosing my job I’ve decided to file bankruptcy but I’m wondering if he will have to pay my loan off. I was wondering is there anything he can do other then filing bankruptcy to, so this loan doesn’t become his problem once I file bankruptcy.

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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?

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If I am filing bankruptcy on credit card debt and medical bill can this affect my mortgage modification? Will my mortgage company pull my modification even though I am not filing bankruptcy on my mortgage? I have had my modification for about 3 years now. I live in CA

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Consumer spending has come to a grinding halt. Nobody except for fools are spending money on shopping, retail or new cars. Many retailers, car dealers, restaurant chains etc etc are going bankrupt on daily basis and thousands lose their jobs daily. October alone saw a loss of 240000 jobs.

But how can the consumer spend, when there is no job security anywhere? A lot of recent college graduates continue staying unemployed despite high GPA of 3.5 or beyond. A friend of mine who has bachelor in math with 3.5 gpa is unemployed and a second friend with bachelor in finance with 3.7 gpa is unemployed too. And they both are thinking of filing bankruptcy. This is how bad things are.

And the bailout does not improve job market and neither does it address the problem of how to make the consumer spend more. So then how will economy be fixed?

Giving 0 billion to failed companies does not do anything because they will fail again, since consumer spending is very low now. Fannie Mae, AIG again reported billions and billions in losses despite being bailed out. If General Motor is bailed out again after few months it would need second bailout.

Why don’t they get it that bailout is not the answer to the economic crisis?

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I am thinking about filing Bankruptcy but I am a nanny and get paid under the table. I am worried that by filing the IRS will look at my case and notice I don’t pay taxes and it will end up costing me. Can I file without anyone noticing I don’t pay taxes??

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I filed chapter 7 bankruptcy a couple of months ago, went to court etc. Know I just received a bill from one of the old creditors? My lawyer told me that all the bills prior to my bankruptcy would be void. Can they start billing me again. All I can say is what is the point of filing bankruptcy if they can bill me again anyway..

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My house went into foreclosure in Nov 2010 and the bank immediately put a lock on the door. I would like to know if filing bankruptcy will relieve me of this burden?

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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.

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I need to file for bankruptcy and then want to concentrate on saving to buy a home. How long do I have to wait to buy after filing bankruptcy?

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Where I live, it’s so expensive that many people work two jobs. Myself included. My co-worker is seriously considering filing bankruptcy due to serious credit card debt, school loans and other difficulties. But isn’t it worse to have bankruptcy on your record for 7 yrs? Especially if you still have to pay off some items? Also, isn’t it expensive to hire a lawyer to process the claim? It may be best for her to get a 2nd job like so many of us. Am I completely wrong?

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I have been trying to eliminate my credit card debt. I have managed to pay off 2 cards, I am currently working on a thrid, but I have 3 more with high balances, about 20,000.
My husband wants me to file bankruptcy.
Should I continue with the settlement or look into filing bankruptcy?
Thanks

Technorati Tags: cards, credit card debt, filing bankruptcy

i made the mistake of buying a house with my dad to remodel it and eventually sell it. we are in the middle of it, and my dad (who has serious anger issues) isn’t getting his way on something and is threatening to file bankruptcy if i don’t do what he wants. what can i do? my name is on the mortgage, i can’t afford the house by myself, but i don’t want to file bankruptcy, i’m on ly 22. i don’t know what to do! does anyone know what my options are? it would be hard to sell the house as is.. one of the bedrooms doesn’t have any flooring, lighting etc, and a bathrooom is the same, we really are in the middle of everything. if anyone could help that would be great. thanks!
we had had an argument yesterday morning, he kept calling me over and over to yell at me, instead of just giving some space to cool off. we were sappossed to be laying tile tonight, but i said that i wouldn’t be so long as he continued to yell, and then he yelled for another hour and a half before i went to work this morning, when i said well since you still want to yell, i won’t be over tongiht, that is when he said he would be filing bankruptcy.

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what is a good site to get the forms and general information on filing bankruptcy yourself?

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have been laid off for a while. I have a personal loan, phone bills and about four credit cards. All my credit adds up to about 20k. I just got a new job and I am making about 2400 a month. My rent is 600 a month and I have about 200 monthly bills. All my credit went into collection agencies. Does anyone have any advice…Its not so easy just to pay it off because of my other expenses and settlements usually require 2 or 3 payments to pay off the whole debt. My loan alone was 8 thousand dollars. I want to pay all this off. Can you please give me advice how to pay it all off and than gradualy how can i rebuild my credit. Another option is bankruptcy…I live in New York. If I do bankruptcy, how bad would that affect my future. Also, would it affect me inheriting a house? Would it be a good option? I know it stays on my credit report for 10 years but can i still build credit after filing bankruptcy and how soon? thanks.

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I know a lot of people are filing bankruptcy on credit card debt. I did this myself and got 35,000 dollars worth of credit card debt discharged. That means my credit card companies lost a lot of money on me. I know my credit is ruined but oh well. Unsecured debt should be more difficult to get. It is still easy to file bankruptcy if one meets the means test. Your opinion, please.

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Me and my hubby had a bank account through US Bank years ago and they really did a number on us. We were young and dumb and overdrawed the account. I still today believe it is partially their fault since they are a crappy bank. Not gettin into the story…but we werent "valued customers" and when they changed a policy we werent notified. Im positive I could have fought this and WON..but again, young and dumb. But since then we have gotten back on track with most everything except our past debts. We are filing bankruptcy on those few things that we just cannot fix with our means. Its just holding us back longer then we would like so we decided to file. How quickly can I open a different account somewhere else? Or is this even possible? I hope it is for the sake of my business Im going to start. Any great bank suggestions…and NOT 5/3 or US bank. Thanks!!

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I am 25, married, and own a small home. Due to very slow payment (I pay mortgage with student loan monies when they arrive), my house is going into foreclosure. I also have a lot of debt from medical expenses, and hubby has major debt (car, credit cards) from his teen years.

I have enough money to reinstate my mortgage without filing some type of bankruptcy. However, that would leave me with no lump sum of safety money. I do work, so I could feed myself – but I never seem to have enough income to pay for regular expenses AND my mortgage. So, if I don’t file bankruptcy and I catch up/reinstate my mortgage…I know I’m going to fall right back into the "non-payment" category again.

Is catching up my mortgage better than filing bankruptcy? What about the other debts that I have? How is credit affected?

(I’m going to grad school, so I have many years of being a poor college student left. I just need to know what I should do about my house and other bills in collections)
Husband is college student too. Together our income is still VERY tight on making all payments on time.

Yes we have cell phone – but no cable/internet/home phones. I don’t know what else to cut.

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I have mounting cc and medical debt. I ‘m considering filing bankruptcy or will have to use my 401(k) funds

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Here is the situation, my wife and I are married and she is petitioning me to be a US citizen. We filed I-485 (Application to Register Permanent Residence or Adjust Status. USCIS send me a letter that requesting us to submit I-864 Affidavit of Support. I used my wife and one of my close friend to be my sponsor but their income does not meet 125% of poverty line (which is about K) since they are both students and do not make that much. We are really stressed out because it seems no one could help us. Is there any alternative way to find an sponsor? If I can provide a statement from my employer that showing that my estimate annual income is above the 125% of poverty line, will that help?

Also,my wife’s parents agreed to help us but they are also in the process of filing bankruptcy. Will that affect their process? From what I know, the I-864 is an agreement between the sponsor and the US government saying that if the immigrant (Me) can’t not support himself and need to take social welfare. The government may ask the sponsor to pay for it. So in theory, as long as I have a job that can support myself. it should not affect their bankruptcy process right?

Please help. Thanks
Thanks for the quick response. What if my 2010 adjust gross income doesn’t meet K. I’m getting a new job that pays much better (around K). Will a company statement from my employer shows that my estimate annual income help???

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Hi, My hubby and I are struggling to pay our bills and we are 27,000.00 in unsecure debt. I am thinking about filing bankruptcy because Ive had these credit card balances for over 5 years and nothing is getting paid down and as a matter of fact the balances are getting higher. I am struggling so much and all I do is eat ham sandiwches everyday for lunch and take hammy down clothes and live in a old trailer. I’ve reached the end of my ropes today when I had to go to a mechanic shop they wouldn’t let me leave b/c my tires were splitting apart and I had to end up owing the mechanic shop for tires. So which should I do, my credit is already screwed so I’m thinking bankruptcy

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I am thinking of filing bankruptcy and I have an annuity type life insurance policy with a Surender value of 65,000.00 and am concerned that if I file they will take this also

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