As you can see, I’ve put myself in the worst of messes. I am either going to federal prison or at least several years probation for criminal charges (not related to anything financial). I have 20,000 in credit card debit, and my lawyer needs another 10,000 that has not been paid for yet. I still have a good job for the time being and I rent an apartment. Would I be able to put the next 10k for the lawyer on a credit card and then file bankruptcy? I have a few thousand saved up, however the account its in is in my name as well as a family member. Due to both our names being on that account, could that money be taken?

Technorati Tags: apartment, bankruptcy, credit card debit, criminal charges, family member, federal prison, good job, lawyer, messes, money, probation

Over the past few years, my husband and I have had several financial setbacks. First, he had a severe heart attack which left him unable to return to full time work. Because we were very proud, and I had a good job, we chose not to file for disability for him. Then, I lost my job…. Because of his health, I signed up for Cobra, thinking I’d only be out of work for a few months at most. The monthly payments were 0 more than my unemployment benefits! What little savings we had were eaten up, and then I started charging the Cobra payments. With the credit cards maxed, I was forced to give up Cobra. To top it all off, our ARM skyrocketed last year, and we ended up losing the house. Thankfully, we were able to do a short sale, so we at least didn’t have to foreclose. I am working again, but have no benefits. He suffered Congestive Heart Failure this spring, and now is receiving disability pay. We get our medical services through a community clinic, but make too much to qualify for free services, and of course his lab work is sent to the local hospital which offers no discount. So, we have approximately ,000 in unsecured debt, with a combined income of about ,000. About 15K is credit card, and the rest is medical. We get conflicting advice on how to get out of this mess – bankruptcy or credit counseling?

Technorati Tags: bankruptcy, cobra, congestive heart failure, credit card, credit cards, credit counseling, disability, financial setbacks, full time work, good job, health, heart attack, heart failure, local hospital, medical services, unemployment benefits, unsecured debt

I defaulted on approximately 0K worth of debt in 2006 which has obviously affected my credit score. I now have a very good job with 0K in household income. Additionally, I have K in cash as well as K in a 401K. I’m very stable – have been with my current employer for 5 years a mid level manager.

The poor credit will ‘fall off’ my credit report in three years. I have an opportunity to purchase the home I am leasing for approximately 0K.

Are there any legitimate lenders that will lend to someone with good income, employment and assets but a poor credit score? FHA will not consider me due to the outstanding ‘debt’ associated with the charged off accounts from 2006. Yes, I did attempt to file for bankruptcy, but got taken by an unethical attorney. I’m not interested in credit repair scams to allegedly ‘improve my score’.

I know there must be others in my position with everything except for the credit aspect. Therefore, I’m guessing there must be an alternative market to fill that niche.

Am I correct or am I way off base?

Technorati Tags: 401k, alternative market, assets, bankruptcy, credit repair scams, credit report, fha, good job, household income, income employment, lenders, mid level, niche, poor credit score

I’ve been out of job for long time, plus medical bills and I am facing foreclosure, as well as months of unpaid c/card and one unsecured loan bills. I don’t think I can pay both mortgage and c/card bills. I want to keep the house and the only way out of this situation I see is to file for bankruptcy. I finally have good job offer in my field that i am about to accept. I wonder if I should file while I am still unemployed, or when I have a job. Thank you

Technorati Tags: bankruptcy, c card, card bills, facing foreclosure, good job, job offer, long time, medical bills, mortgage, unsecured loan

My divorce was finalized in October and I’m currently not working and I’m attending college full-time. I lost my old job about a year and a half ago, and haven’t been able to find one since. I live in Michigan and the job market is awful here. I graduate in about a year and a half. I’m living with my boyfriend now and he provides for my needs.
I have about 00 in outstanding debts and another 00 in attorneys fees from my divorce.
Some of the debt is from my ex-husband who was ordered to pay his part and was given 90 days to settle with me. It’s been well over 90 days now, and I cannot locate him and his attorney hasn’t been able to find him either. My attorney said that in order to file a motion against his not paying, she needs to be paid what I already owe her.
I obviously cannot pay this without a job, and my boyfriend doesn’t make enough to pay my bills.
So, I was wondering, would I be better off just filing for bankruptcy or waiting to try to pay these things off after I graduate and hopefully obtain a good job?
If I do file bankruptcy, would the attorney’s fees that I owe from the divorce be able to be dismissed under the bankruptcy?
Any help would be appreciated!
Thank you!
I have a 2 year old son that I take care of full time during the day while my boyfriend works. My classes are at night so my boyfriend watches my son while I’m in school. A minimum wage job would not cover the cost of daycare in our area. Believe me, I’ve looked into every reputable place there is. an hr at a burger joint, even working a full 40 hr week … take home would be around 0 per wk. Daycare runs about 0 per wk. Being away from my son all day long is not worth making per wk.

Technorati Tags: attending college, attorneys, cost of daycare, divorce, filing for bankruptcy, full time, good job, minimum wage job, old job, outstanding debts, reputable place

I was laid off in February of 2009 and have not been able to find a good job since. I have been without medical insurance for almost 3 years and have to pay out of pocket for a required medication costing roughly 0 per month. I have moved back into my mother’s house (I’m 26) and I am overdrawn on my bank accounts every week just from paying off my car, my storage (I moved home from another state since I could no longer afford rent,) my medicine, groceries, and then attempting to make payments on my debt. I have spoken with a credit counseling organization (MMI) and they have offered me a plan by which I would pay them about 0 per month. This plan would entail 0 per month for debt payment, 5 for car payment, 5 for my student loan, 0 for medicine and 5 for storage of all of my possessions. This is 95 per month. It does not include food. It does not include emergency preparation. And it is also 0 over my monthly income.

Issue #1: I need a new job. On average, I apply for 20-30 jobs PER DAY. I have been told that, since the economy went bust, EVERYONE checks the credit of a potential employee. Obviously my current poor credit is enough to render me unhireable. If I declare bankruptcy, how much worse can (will?) my job hunting situation be? I currently temp at a front desk for just 30 hrs a week, no benefits.

Issue #2: I need to be able to move out of my mother’s house. She is very kind to have opened her home to me when I am in such need, and I try very hard to stay out of her way, but she makes it very clear that it’s a huge burden on her to have me around (I know she is right, but it makes it no easier). She is also 100% against me declaring bankruptcy, not only for the impact it will have on my life but for the stigma it will bear on hers. I need to be able to have my own place again. But, my current credit is so poor AND declaring bankruptcy would remain for 10 years on my credit report, that no one would possibly rent to me. Which is less devastating to a potential landlord? Terrible credit and a ridiculous debt-to-income ratio, or a recent bankruptcy claim?

Issue #3: My car is currently worth about k less than what I still owe. I have tried to sell it back to the dealership, they charged me k and even when I left the car with them, they immediately called me back to pick it up because apparently something in the undercarriage was repaired wrong (oh and getting my k back was a real hoot, let me tell you.) It has already been repo-ed once and I had to pay money I didn’t have to get it back. I have tried selling in private forums, I have tried refinancing, I don’t know what else I can do. No one will buy a car worth almost ten grand less than they’re paying. I want very much to keep it, but I can’t afford it. And yes, simply letting it go would COST ME MONEY. Dave Ramsay says, "sell the car." What would Dave Ramsay suggest in this situation?

Issue #4: I have no savings. If I declare bankruptcy, I will be living off of my income alone (my savings deteriorated during my time when I was unemployed, after which my debt increased exponentially. HOWEVER. If I declare bankruptcy and can divide my piffle paycheck so that at least SOME of it can go towards savings, then at the end of ten years when the bankruptcy falls off my credit report I will have something, instead of nothing. Or just…more of the nothing I have right now.

Issue #5: I can’t pay these bills. (see the price outline in the first paragraph.) Won’t these companies just sue me anyway, if I don’t declare?

Look. I love and respect my mother (who is not a financier.) I do not want to make her sad because her daughter went bankrupt before the age of 30. But let’s be realistic here. How much worse could my situation POSSIBLY GET if I declare, file for Chapter 7 and get my debts forgiven so that I may begin to rebuild.

I would very much appreciate ANY input, on a REALISTIC, REASONABLE alternative to me filing for bankruptcy. I have listened to "Financial University" by Dave Ramsey about 1000x and I’ve read Suze Orman’s books and seen her show.

It would bring me so much comfort, and I would so appreciate it, if my peers on yahoo who have experience or knowledge with this kind of thing could reach out and give me their honest, informed opinions.

Technorati Tags: 3 years, bust, car payment, credit counseling, debt payment, declaring bankruptcy, emergency preparation, front desk, good job, groceries, issue 1, job hunting, landlord, medical insurance, mmi, new job, poor credit, possessions, stigma, student loan

My son owes over 15K in back taxes because he hasn’t filed a return in 5 years. I can’t pay it (and I don’t think I should) and he can’t pay it in full. He doesn’t have a good job because he is still in college. Will this affect his financial aid? Also, what are his options to settle this tax debt?

Technorati Tags: back taxes, financial aid, good job, hasn, tax debt

I was laid off in February of 2009 and have not been able to find a good job since. I have been without medical insurance for almost 3 years and have to pay out of pocket for a required medication costing roughly 0 per month. I have moved back into my mother’s house (I’m 26) and I am overdrawn on my bank accounts every week just from paying off my car, my storage (I moved home from another state since I could no longer afford rent,) my medicine, groceries, and then attempting to make payments on my debt. I have spoken with a credit counseling organization (MMI) and they have offered me a plan by which I would pay them about 0 per month. This plan would entail 0 per month for debt payment, 5 for car payment, 5 for my student loan, 0 for medicine and 5 for storage of all of my possessions. This is 95 per month. It does not include food. It does not include emergency preparation. And it is also 0 over my monthly income.

Issue #1: I need a new job. On average, I apply for 20-30 jobs PER DAY. I have been told that, since the economy went bust, EVERYONE checks the credit of a potential employee. Obviously my current poor credit is enough to render me unhireable. If I declare bankruptcy, how much worse can (will?) my job hunting situation be? I currently temp at a front desk for just 30 hrs a week, no benefits.

Issue #2: I need to be able to move out of my mother’s house. She is very kind to have opened her home to me when I am in such need, and I try very hard to stay out of her way, but she makes it very clear that it’s a huge burden on her to have me around (I know she is right, but it makes it no easier). She is also 100% against me declaring bankruptcy, not only for the impact it will have on my life but for the stigma it will bear on hers. I need to be able to have my own place again. But, my current credit is so poor AND declaring bankruptcy would remain for 10 years on my credit report, that no one would possibly rent to me. Which is less devastating to a potential landlord? Terrible credit and a ridiculous debt-to-income ratio, or a recent bankruptcy claim?

Issue #3: My car is currently worth about k less on what I still owe. I have tried to sell it back to the dealership, they charged me k and even when I left the car with them, they immediately called me back to pick it up because apparently something in the undercarriage was repaired wrong (oh and getting my k back was a real hoot, let me tell you.) It has already been repo-ed once and I had to pay money I didn’t have to get it back. I have tried selling in private forums, I have tried refinancing, I don’t know what else I can do. No one will buy a car worth almost ten grand less than they’re paying. I want very much to keep it, but I can’t afford it. And yes, simply letting it go would COST ME MONEY. Dave Ramsay says, "sell the car." What would Dave Ramsay suggest in this situation?

Issue #4: I have no savings. If I declare bankruptcy, I will be living off of my income alone (my savings deteriorated during my time when I was unemployed, after which my debt increased exponentially. HOWEVER. If I declare bankruptcy and can divide my piffle paycheck so that at least SOME of it can go towards savings, then at the end of ten years when the bankruptcy falls off my credit report I will have something, instead of nothing. Or just…more of the nothing I have right now.

Issue #5: I can’t pay these bills. (see the price outline in the first paragraph.) Won’t these companies just sue me anyway, if I don’t declare?

Look. I love and respect my mother (who is not a financier.) I do not want to make her sad because her daughter went bankrupt before the age of 30. But let’s be realistic here. How much worse could my situation POSSIBLY GET if I declare, file for Chapter 7 and get my debts forgiven so that I may begin to rebuild.

I would very much appreciate ANY input, on a REALISTIC, REASONABLE alternative to me filing for bankruptcy. I have listened to "Financial University" by Dave Ramsey about 1000x and I’ve read Suze Orman’s books and seen her show.

It would bring me so much comfort, and I would so appreciate it, if my peers on yahoo who have experience or knowledge with this kind of thing could reach out and give me their honest, informed opinions.

Technorati Tags: 3 years, bust, car payment, credit counseling, debt payment, declaring bankruptcy, emergency preparation, front desk, good job, groceries, issue 1, job hunting, landlord, medical insurance, mmi, new job, poor credit, possessions, stigma, student loan

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?

Technorati Tags: bankruptcy, credit history, good job, jobs, nurse

Hi,

I have two tickets from almost 3 years ago that I forgot about/never paid, and now the DMV has suspended my license!

They say I owe them ,800 and that the file is now with collections. The person I spoke with says that I must pay every cent to them in full and that they’ll never lift the suspension.

Is this true? Or is their debt collector trying to do a good job?

I looked online but can’t seem to find a resource to resolve/settle this debt. Most debt settlements will let you pay like 50% and will remove the debt. This happened 3 years ago!

What can I do? Must I pay them nearly k for two tickets I forgot to pay 3 years ago??

Thanks for your advice.

Charles
The tickets are 1) a cracked windshield ticket and 2)driving without vehicle registration(or possibly insurance)

No traffic tickets or anything very serious.

Thanks!

Technorati Tags: 3 years, collections, cracked windshield, debt collector, debt settlements, dmv, good job, insurance, traffic, vehicle registration

I had a small business and in 2005 it failed and i had to go bankrupt on it and my home..everything , i lost it all.. I have since gotten back on my feet (i thought) ..got a good job with the state and even bought a new car since i had to drive so much for my job…Aug 1st of this year the governor cut the budget to my program and i lost my job. now I can’t make it…there are no jobs around here, there’s nothing…when is the earliest I can file for some sort of bankruptcy? I took the total wipe out the last time..this time I’m hoping I can do the one where I can restructure and keep my home, car and possessions. The economy is killing people like me. Please I hope someone out there knows if I can file for restructure sooner than 7 years and keep what I finally got built back up. Thank you
i wanted to add that i am NOT an idiot and really hate to be talked to like i am one. I am getting unemployment for now. I live in a very small town in Southern Ill and there are NO jobs…thanks to our goverment all our jobs are going to china or somewhere bedsides here. I ask my question to get a helpful answer NOT to get told I am lazy and need to find work…hate to wish bad on anyone but I just hope those of you who think I am so lazy goes thru this someday themselves..maybe then you will all be more understanding. I didn’t need made fun of ..i just ask for help in finding the right answer…thanks for nothing.
i really think THIS is partly whats wrong with the country anymore…people are heartless..always ready to put someone farther down than they already are…again thanks for nothing.
You know I am rather sorry I asked a question….I am NOT a deadbeat, I am an AMERICAN…if the economy has not hit you yet then I am happy for you…but in small town America it has it hard…I have worked all My life and will continue to work IF i can find a job.. unlike most of you I guess I just can’t afford to pull up stakes and move to ‘where the jobs are’…btw…according to the news they’d like to know where the jobs are too… I am totally ashamed to even read these answers…I hope each and every one of you who have told me ‘to get a job ‘ and not have a new car..or buy a ‘cheap ‘ house….well my answer to that is ..I bought a house..for ,000…cheap enough??? and i bought a chevy colbalt..cheap enough??? so you big knowlegable people get off your pedistal before you FALL off…your not better than me or any other American who is having problems now…I am a 56 year old woman and i live VERY modest life….so dont JUDGE me …all I wanted was some info on what choices.

Technorati Tags: bankruptcy, budget, china, deadbeat, economy, good job, goverment, home car, jobs, last time, new car, possessions, small business, southern ill, unemployment

married couple. both are 38. we have a child due in June.
We live in Vegas and want to move and get an affordable home. We do not own real estate. She has k and I have k in debt, both accounts are in collections. The only asset we have is 55,000 in a retirement account.

I filed Chapter 7 in 99. My current income as insurance and financial advisor is too high for 7 here in Vegas. Right now it is around k but can get much higher.

A chapter 13 concerns me because of the 3 years of payments, its effect on my credit and potential to get another good job should we move, and we may not be able to get a house should we move.

I could liquidate the retirement and pay off the debt and have about k left after taxes and early withdrawl penalties. This would also include the tax liability for the k I took from my account last year.

As a financial advisor, I know that the withdrawl we took last year was stupid.

MOM is giving me 50K for home purchase.

BK or pay?

Technorati Tags: 3 years, bk, chapter 13, chapter 7, collections, good job, insurance, married couple, mom, own real estate, retirement account, tax liability

I am in debt over ,000. I really don’t know what else to do. I don’t have and can’t find a good job, etc.
Anyway, I need to file bankruptcy. I believe it is Chapter 7, where you just get rid of all your bills.
How do you do it?
How hard is it to build your credit back up?
What are some things you can’t get rid of?
How much does it cost?
How long does it take?
Any other details you may have?

Technorati Tags: bankruptcy, chapter 7, good job

I am in debt over ,000. I really don’t know what else to do. I don’t have and can’t find a good job, etc.
Anyway, I need to file bankruptcy. I believe it is Chapter 7, where you just get rid of all your bills.
How do you do it?
How hard is it to build your credit back up?
What are some things you can’t get rid of?
How much does it cost?
Any other details you may have?
How long does it take?

Technorati Tags: bankruptcy, chapter 7, good job

i need to file but i don’t know which is best chapter 7 or 13. i have a good job but my finaces got out of control.

Technorati Tags: chapter 7, finaces, good job

I have a good job now, and make pretty good money. I got all my college credit cards paid off, except for one. I was told that I can "settle" that credit card debt for approximately 0 less than what the full balance is (settle the ,100 debt for about ,650 if I paid in full). Problem is: I can afford to pay in full the whole ,100…it is already on my credit report as negative because of it being delinquent so much (several times in about 3 years with no payment on the debt for 3-4 months). Someone told me if I settle for less, it will be worse on my credit report. But if its already negative…what is the better option? Keep in mind also that I closed the account about 2 years ago. Should I pay it off fully, or just settle and save money? Will it ever show up as positive on my credit report? Or just as "closed/paid off" status. Which is better? Sorry about all the parts to my question! Please help!!

Technorati Tags: 3 years, 4 months, college credit cards, credit card debt, credit report, delinquent, good job, money, several times