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!
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?
Our loan was in a "modification" with the mortgage company and we were late on the payments. We sold one of our trucks on Friday for 00.00 to pay the 2 months behind and today we got the letter in mail saying they were continuing foreclosure proceedings.
We called and they said we don’t make enough, but we do so they are working on something, but I have a bad feeling that they are stalling. I want to sell the house, but my boyfriend does not want to. Our home is worth more than we refinanced for, but will be hard to sell quickly. Our credit is terrible and our score is very low. What about filing for bankruptcy or trying to sell fast..before foreclosure starts again?
I don’t think we can do much to get out of the mess we’re in.
(we missed the payments because a/c broke..we live in florida and have new baby so we had to buy window units.)
Im having difficult times economically and im thinking about filing for bankruptcy. I have a student loan with salimae would that go away as well??
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Good Style: This scenario deals with bad news (a negative message). Not only will classmates be missing out on the trip to Mexico, but they will also lose their deposits. While it is important to be honest, the structure of the message is important. Building Goodwill: The writer of this message is merely the messenger; the situation is out of his/her hands. Although reimbursing classmates would be ideal, the bus company is filing for bankruptcy and may not have much to offer. What other alternatives might be possible?
The writer should also try to determine the audience’s initial reaction, the amount of information required, positive aspects that can be emphasized as well as obstacles that must be overcome, and expectations of the audience.
I am on the borderline of filing for bankruptcy, i have about 9 thousand dollars in debt so i would really like to avoid bankruptcy if possible…i just dont know the different alternatives…BTW my account was charged off so they told me i couldnt workout a repayment plan…they told me that i would have to come up with the amount in full or they could settle for about 60-70% of what i owe em but i still dont have that kind of money
We will be filing for bankruptcy in approximately 1 month. We’ve already contacted a lawyer..we haven’t filed yet because of the holidays. We had our car repossessed last month and received a letter about the sale of it this past weekend. The car sold at auction for approximately ,000 less than we owed. Is this debt considered new debt? And could be it filed under bankruptcy? Or is there a certain "age" the debt has to be to be claimed?
p.s. We are filing in Alabama.
I "settled" with several credit companies for over ,000 in debt. The IRS considers the settlement amount as earned income unless the tax payer was "insolvent" at the time of the settlement. My home has minimal equity but I don’t know how to determine the value the IRS will use in calculating my debt to income ratio. It could make a big difference in my tax liability for the past year but was better than filing for bankruptcy or losing my home. This question even seems to stump tax advisors. Any wisdom out there in Yahoo land would be appreciated.
I need at least 10 people to answer. You don’t need prior knowledge about the subject, just what you know right now. State your age. Thanks a lot for answering.
1. Do you know what bankruptcy means?
2. Do you know anyone in your family or friends who have been bankrupt?
3. Have you ever worked for a company who has filed for bankruptcy?
4. Do you know how many chapters of bankruptcy there are?
5. Why do you think a company goes bankrupt?
6. Do you have a financial strategy to avoid bankruptcy?
7. Do you think your money spending habits will eventually lead you to file for bankruptcy?
8. Do you know if you have alternatives other than filing for bankruptcy?
9. Do you know the consequences of filing for bankruptcy?
10. Do you know how long bankruptcy will affect your credit score?
copy paste the numbers with yes/no answer or however you like . Thank You!
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Question 6 is about opinion, so think of a short answer, thanks
question 10 , answer how many years you think
We are refinancing our house to pay off some credit card debt. I have heard that the debt management companies will negotiate on your behalf and either lower the interest rates or lower the amount they will accept to pay off the debt. I have also heard you can do that yourself.
Anyone have any experience with this tactic? I have also heard that trying to settle for a percentage of your balance will wreak havoc on your credit rating. Is it worth it to save a couple of thousand dollars?
Do you try and reach an agreement with the first CSR you talk with, or does it only count if you negotiate with a manager or other official? Should you get the agreement in writing, as well as any effects on the credit rating? What is an appopriate percentage to ask for (50%? 60%?), or does it depend on factors like amount owed, past payment practices, etc.? Does it help to threaten you might be filing for bankruptcy if they do not settle?
We are filing for bankruptcy and needed to know how long is going to take if we are applying for waivers as well? Can they touch your vehicles after filing?
can i go through wethepeople or divorcesource.com or another do it yourself paralegal assisted divorce site for a non contested divorce if there is a lot of debt involved? we our both residents of california. agreeably the debt doesn’t need to be fought over we can split it ourselves…. will the divorce be granted? or should we attempt filing for bankruptcy first or all at the same time as their is no way to pay the debt down in a lump payment. no kids…married for year and half
Ok so, I have no money, which is why I’m filing for bankruptcy, yet it costs money to file bankruptcy. Make sense? Anyway, I have never been through this before and was wondering if anyone could tell me how much it costs to file for chapter 7 (which I have checked into and am eligible for) bankruptcy? Thank you all in advance for your answers.
I also have a vehicle that I am currently financing. My payments are more than 0.00.mthly. As i have been good on my payments besides 1, should I refinance before or after the filing for bankruptcy. I also know that I will be filing for Chapter 7/W no assets. Thanks for all the help, if at all possible
I am considering filing for bankruptcy. I am paying a collection agency and attorneys for a collection agency. They threatened to file judgments. I also had a judgment filed againstt me last week.
I have about ,000 in debts. Mainly from credit cards dating before 2002. I used to pay my bills on time, however, in 2002 I was diagnosed with a disabling illness and fell way behind on my bills. I no longer am able to work and have been on Social Security Disability Insurance for 6 months now. Would it be worth filing for Bankruptcy? or should I just wait till the "7 year reporting period" from creditors have passed, and not file? I really want to improve my credit rating ASAP! Also, I live in California and I’m planning on moving to Texas very soon. IF I should file for BK, Should I do it in CA or TX?
So I’m considering filing for bankruptcy. Currently about 40K in debt, not including a house I purchased for a close family member but I don’t stay in. Tried to keep keep head above water but string after string of bad breaks has left me thinking there is no alternative. What could I expect if I do declare? would I qualify for bankruptcy? Would my financial situation be destroyed by doing this?
Will they actually consolidate all of my credit cards and personal loan or will they just try to get a decrease in the APR? Can anyone help me with this? I was given this as an alternative to filing for bankruptcy and would like some more info from anyone who has been there and done that…thank you.
I am filing for bankruptcy myself and I can not find where I am suppose to send all of the papers. Do I have to go court myself or can I just mail it? I live in NYC. Does anybody know how to do this?
I am getting a divorce. The mortgage on my house is in my name only. The title is actually in both names. My soon to be Ex-Husband still lives here, he is refusing to pay the house payment. He wants them to foreclose on me. I want to sell the house and use the equity to pay off some debt. The total equity after selling the house would be about ,000. We have a total of other assets of ,000. The total assets we have are 0,000. The total debt owed is ,000. The equity and debt are supposed to be split 50/50, so 50% of the total equity left would be ,000. If I file bankruptcy would I be able to keep a portion of the 33,000 to hopefully have for deposits on a new home to rent, or such? My soon to be Ex-Husband would not be filing for bankruptcy. How would all this affect him?
I am in a bind… My wife left me and I cannot afford my mortgage without her salary. She does not care if we default on the loan. I don’t want to file for bankruptcy.
The house was built 2 years ago and is in perfect shape. It has been on the market for 2 months, but I haven’t received any offers.
Do I have any alternatives to filing for bankruptcy?
Thanks for the help.
I would like to know the many alternatives a business can pursue instead of filing for bankruptcy. The more alternatives the better. They must be legal though.
i’m anticipating filing for bankruptcy and i cannot afford the 00 for a lawyer plus 9 for the court fees. Has any body ever filed pro se, if so how was the experience and do you recommend it? thanks. please no rude comments either, i’m going through a hard time as many americans do