I’m ready to file for bankruptcy as I’m unemployed & in two months I’ll be out of money if I don’t get a job. I’ve borrowed about k in a reserve line of credit at my bank. My bank deducts about 0/month for this from my checking account. If I file for bankruptcy will my reserve line of credit be taken care of in the bankruptcy or do I have to pay it back, IF I’m able to file bankruptcy? Thanks.
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?
I am considering chapter 7 bankruptcy. I am 5 months behind on payments and been getting threatening calls from the bank, I only have a year and a half let on my note (started out as a 6 year contract). I have unpaid medical bills which is only about 00 along with a early termination fee from sprint and tmobile and I owe to GE money bank. Back last march I ended up homeless and worked any job I could but still wasnt able to get on my feet. So for those of you with comments like "poor money management" keep your comments to yourself. My bills were always paid on time until our economy went to shit. Now that I mentioned that I will get to my question. Is there a way to get around this to not file bankruptcy so my car wont get repossessed (something quick before they take further action) and all my debt paid? I don’t have much money to file bankruptcy. Is there a way to get help so I can pay it out?
My 1994 Plymouth Sundance just got back from the shop from installing a new steering wheel rack, which basically got me all bankrupt. Now since the shop doesn’t do alignment I’m forced to go to the closest shop which does which is Midas. But they don’t put the fee in the website which I can’t find. Anyone know how much they charge for the front end alignment job? Thanks!
A few month’s ago, I started working with National Debt Relief to settle 2 credit cards….1 with Discover and one with Citibank.
I have had no issues until the other day, when someone from Citi called me to say they don’t work with debt settlement companies.
So, I have my debt settlement company telling me "don’t listen to the creditors, they are just trying to scare you", and then I have Citi telling me "don’t listen to the debt settlement company because they take your money and never pay us…a law was passed last year that we no longer work with debt settlement"
When I first enrolled into the settlement program, they said they did work with both banks, I had to provide my statements and they seem completely legit. I have a certain amount of money automatically being deposted into a trust account with the settlement company uses to pay off attorney fees and my creditors over a specific period of time.
How do I determine who is telling me the truth, and if my debt settlement isn’t working, what do I do with Citi? They did send me a letter asking me to settle…so what’s the difference if I settle through debt relief vs. settling directly through me?
If it helps, Discover has contacted me and is aware that I’m working with debt settlement and seemed more than okay with that. and they both sent me letters to settle for less than what i owe. it isn’t very much debt at all….just what I couldn’t pay off from my old lifestyle, after I had to move across the country and take a job making much less than i had before.
Hopefully someone can help me out. I have an old (about 5 years old) credit card debt of 09.00 which I am trying to settle for 00. In April the account went to a collection agency who offered to settle for 00. At that time I was in financial hardship and (divorce, single mom, unemployment, overextended) I did not have the money and could not accept. Now the account has went to a law firm. I called them and asked them to settle – they seem more interested in finding out how much money I make and my job than trying to settle. Of course I got upset and told them I would I would call the credit card company and they said the credit card company would refer me back to them. Shouldn’t they (the law firm) be working with me to try and settle this debt? What should I do? I also told them them that I would like my credit reported as "paid" after I gave them the money – they said they had nothing to do with the credit bureau. Help!!!
2/24/2010 the economy is as worse as it was when the economy went down/meltdown. Nothing has changed but thousands of people are still being laid off work each months and thousands of jobs/positions are begining cut/terminated. There are no job new jobs created or positions a reason people are still unemployed. The stimulus money only helped business out of bankruptcy which had become bankrupt because they were mismanaged/corrupt. The leftoiver money from the stimulus were and are given as promotions, wage increase to managers, CEO’s though they did nothing to prevent the company from going bankrupt or help it out of bankruptcy but only the stimilus money did and some people find still the audacity to praise these people though have done nothing. Most data reportng that the govt receives from business/companies are covered up/falsified so False record of money spending and company info occurs,. Stastics are falsified in money spending, hiring practices, employee wages, promotions, embezzelment. As it was when the economy went down, there are only a few jobs available in the job market or the same ones that have existed but for some reason companies have never filled those positions or they just don’t want to fill those postions since mabye they want to make the govt. believe they have new positions available or that they have created jobs. There a thousands of people available who applied for those positons who suprass the requirements for those positions by the way. With companies/jobs they have ways of falsfiying reports at the expense of the community.and half of the info they give to the govt is covered up.Now some jobs have popped up sometimes here and there but might have temporitly come up to fool the govt into believing jobs were created by businesses/companies who received the stimulus money but make no mistake the leftover money are either given as promotions or taken by corrupt CEO’s, manangers, headchiefs, presidents as you may recall the economy went down because of such people and what makes you believe they have changed since most weren’t penalized. In business its take as much as you can take. So in short there are no jobs that have been created with the stimulus money at all though it was the responsiblitiy of those businesses who brought down the economy and later received the stimulus money. Thousands of people have been hired as spammers for websites or businesses which isn’t a job but are recorded as a job in govt reporting. From personnel experience when a job now in the present is offered or available there a thousands waiting in line for it as thousands of people are unemployed. If you don’t believe go to one of these job interviews. I don’t care what you’re parent./relative working in wallstreet or some economical reporting agency says as most stastitics and reporting are incorrect, onesided and inaccurate as most business stasticsis is covered up and falsified. Its the reason the economy went down and should indicate that people aren’t there to look out for the community but themselves to reap millions or dollars or even billions for themselves at the expense of others. Congress isn’t concerned as long as they get money from those business into there pockets. To the disagreeing comments below its from people who haven’t been laidoff yet. They or their parents probably beneifit from these businessess/congress or are related to those people in businesses who received the stimulus money so they don’t care but oppose just to oppose because they have nothing good to do. Most of these people who disagree,commenting below don’t know whats going on in the world but live in there own isolated world.5/24/10. What makes the matter worse is the govt is saying that more jobs are availiable and employment is up so real problems are ignored. The jobs that used before the economy meltdown/downfall to exist seems won’t come back again.
Here is a little something
Don’t think political parties businessmen are out there to help out people. Most humans are greedy, ambitious carless. Only a few humble modest people exist. Whereas you might be okay with a million some people want to make billions or a much as possible at the expense of others. People don’t get into politics to help out others but help out themselves and relatives.
When i say there are no jobs i mean no jobs and yes i’m excluding those few jobs that have popped out sometimes from those stimulus helped companies that have created those few jobst to let the govt. believe they are creating jobs or those few jobs that some companies have barely been able to make available which are rarely available but pop up sometimes when its available.
I don’t care if you disagree but i know you’re incorrect and wrong and know nothing about the economy.5/24/2010.
Hello everyone. My dad used to work on a company in my country. But the company went bankrupt and he had to look somewhere else. He went to Dubai, United Arab Emirates, and they gave him the job. He wants us to move there(of course hes not forcing us) but he would like us to be together. I really want to go.
So I met this cute girl and were dating. The thing is that I dont want to hurt her because she seems to be really into me. I like her too.
It is not 100% sure yet, but it is very probable.
If I go, I would go on August, 4 months from now.
In the meantime, I would really like to have a relationship with this girl. But she is not officialy my girlfriend yet.
What do I do? I do not want to hurt her. Please, Any advice?
Thank you
Just finished school, and right now i cant pay all my bills, my credit sucks, and not sure what i should do. Is it better to do debt settlement, or bankruptcy, or just like the bills continue to go unpaid until i get a real job and just have the creditor calling me every day?
Should i file chapter 7 bankruptcy? I have 9,000 in credit card and own 8,000 on a car worth 3,000. I lost my job and am falling behind on payments. Should i wait till i get a job and pay it off or should in just fill bankruptcy. I want to get rid of my car if i fill will they take it?
does anyone know who much bankruptcy costs and can i include my student loans. overall i owe about 50k. and might be loosing my job soon. im training my replacement!
In November, I made the decision to file bankruptcy and it was filed a week ago today. My problem is I recently purchased a car (4/4/11) and I have a car loan, but I want to surrender the car under the bankruptcy. The problem is the car is not in good shape as they told us it was (they said they replaced the transmission, but the transmission is stalling and jerking), and they are not willing to switch the car/trade it. I also called the bank and they are more concerned with getting their money than actually helping me (go figure). Will this look bad on my part or is it fine to do? I am wondering because I have to make another payment tomorrow and I would rather not if I can surrender the vehicle, and I don’t want to pay if it will jeopardize my bankruptcy. I emailed and called my lawyer, but he left early for the day :0) Please help!!!!
I am filing because I was sued twice and a lawyer told me to do nothing, so now I have a judgment. I am the only income in my home, and trying to get a reliable vehicle, I opted for a car loan thinking that was going to ensure I had a good vehicle.
I also make sure I work overtime so i can afford the car to be able to work. With a family I am trying to do what I can, but I can’t do that and pay back ,000 that was run up in my teens. I was pregnant with no job so I maxed out credit cards to buy food and clothing etc…. I regret it, and wished I never done it. Now I want to be able to start fresh with the new life I am making for myself.
SO my wife and I purchased our first home in 2006, and shortly after we had our daughter. Due to a lot of time off from work due to complications in my wife’s pregnancy, and me losing my job we fell behind on the mortgage. We struggled with paying what we could until the economy got really bad in 2008 and we couldn’t afford to even pay the morgage at all. Then in June of 2008 we lost the house to forclosure… Now my credit score is in the low 500’s and I can’t get approved for ANYTHING. I know from researching that both foreclosure and bankruptcy stay on your credit for 7 years, but which is better to deal with??
Like many people in LAUSD are getting laid off, teachers, counselors, librarians and so on. Lets say they get off, they don’t have a job so they can’t pay their mortgage, or pay the loans to the bank, therefore lose their house…So many people won’t be able to repay their bank loans then the banks could possibly go bankrupt? Whats the process of a bank going bankrupt simplified? Basically, what are negative effects of the LAUSD layoffs on the economy?
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?
I have accumulated approximately ,000 in CC debt, and about ,000 in Medical bills. My credit score is around 525, and I have had most of these debts for 3-6 years. I’m 25 with no college degree, a job making ,000 Net year, and I live in an apartment. I own 2 cars, One with no engine in it valued at ,000 with an engine ,500 w/out an engine, and another valued at 0. I usually have about -100 left over every month for extra. 20-40% of that I try to put in a "cushion fund" for if I have a medical emergency.
I don’t plan on buying a new house for atleast 2-5 years, and my next car (If i get one) will be, at a max ,000.
My question is; Would filing for a Chapter 7 bankruptcy be an option for me, and If so what are the repercussions?
I owe 200 for fitnessfirst gym fee and they send me to debt collector since I stopped paying for like 4 months. Now they mailed me for the second time, a 30 day notice. I am 17 years old, turning 18 in three months. I DON’T have a job. I do baby sit sometimes but that’s like 50 a week. There’s no way I can get 200. I would like to pay them because I don’t like owing people anything but is there a way maybe I can talk to them to settle for 150 or less?
my dad signed it with me
okay I am married and we are currently overly in debt. My husband is working a great job while I on the other hand lost my job due to the economic ways we are in. we are about 18,000 in credit card debit that we stop paying in general. we have a 38,000 car loan that we have been paying and have had it for a year now. than of course we have all the other basic bills FPL, Cable, Car insurance , rent which is 1,000 a month. since one side has been bring in money we have only be able to pay for the basics and car payment, car insurance, and rent.
There is really anything else we can do.. there is no managing money because all of the money goes directly to bills.. there is nothing we can sell to gain money for all our debt.. it just seems like its getting worse and worse and we thought about bankruptcy. Yes, I agree it’s a horrible thing and it stays on your credit for 10 years YES THAT IS RIDICULOUS bad.. but really what is there else to do.. the interest rates on the credit cards are so high that because of 1 month not paying the minimum jumped up 700.00 so i don’t even want to check what it is now!! We don’t have much options besides that.
If we decide to do it how will it effect his current job? Does his current job have to know we filed bankruptcy?
How would it effect our car loan?
How would it effect us paying RENT to our landlords..
Thanks a lot of the help in advanced
=/ ohhhhhh
Thank you for all that is giving me their opinions.. and to add on… yes a 38,000 car loan is ridiculous. But we all do things in life that isn’t perfect. So, it doesnt matter our age not everyone makes the correct decisions regardless it doesn’t change the situation that we are in. so call it stupid or whatever you like… All i am trying to DO is get opinions to better my situation and to answer me questions I have.
Thank you for all who has answered all have helped in different ways.
Greatly appreciated
I am a single mom, own a house, my son’s father is not paying a penny, and I just lost my job. Obviously, I can’t afford to paying my mortgage any more. So what can I keep when I file bankruptcy in CA? I have some 401k, a car, 30K of credit card debts, and student loan, no savings…
Will my recent bankruptcy come between potential job/new career path?
I dont want to get into "why" I filed bankruptcy. I will say, I had no alternative.
Currently, I am in my 2nd year in college and I want to obtain employment while I am in school so that I dont have to take any more loans. I have put in a couple applications and have had one interview. Will the employer know when he interviews me that I have a bankruptcy? I have been told know days the employers dont even call ex employers because the only questions that can be ask are if the employee is rehirable? Is this true? I am concerned because if a new employer see’s that I have filed bankruptcy, and can’t get any good solid feedback from ex-employers then how will he/she know that I am a good prospect for the job?
Thanks
I’m thinking about filing for bankruptcy due to credit card debt… People have told me that you have to have a job to make payments, is that true?
I have bachelor of science in mathematics and I could not get any job since graduation. Due to my inability to get job, I had to file chapter 7 bankruptcy protection. I noticed the bankruptcy lawyer’s office was flooded with clients. There were like 37 to 40 people sitting in the lawyer office lobby to wait for their consultation. The bankruptcy lawyer told me "its been very stressful with so many clients. I am sorry for making you wait this much". He charges 1800 dollars per clients. And since there were about 40 in lobby, that’s an income of 72000 dollars already. And the consultation fees is 350 dollars for the first time meeting. Having seen this I get motivation to become bankruptcy lawyer myself and open my own law office. Because of poor economy I will surely get lot of people who want to file bankruptcy. And since I have bachelor of science in math I already meet whatever pre-requisites are required to enter law school. Moreover, my bankruptcy attorney graduated from my own university law school. So what more do I have to do now after BS in math to become chapter 7 bankruptcy lawyer? I will file chapter 7’s for all the broke and poor people in the town
We are currently in a chapter 13, and we had to relocate for my husband’s job. Are we allowed to lease and apartment and would an apartment complex be willing to rent to us?
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.
I am 2 payments behind on my mortgage, about to be 3 payments. My husband is about to lose his job because he has to be out of work for 2 weeks due to having an emergency appendectomy, my electric bill is almost 30 days past due. What would filing BK do to my mortgage?
I have a ,000 school loan as well as ,000 in credit card debt. Up to this point I have stayed up-to-date on all my payments keeping my credit rating intact, but my job situation has taken a big turn for the worse. I’m trying to find if anyone has managed to settle on some of their debts recently without their credit going down the toilet. If so, how did you go about doing it and what were the results?
I don’t have much money. I don’t have a job right now. I just wanted to know is it smart to file for bankruptcy if I am no more than 7000 dollars in debt? I called some debt collectors, and they are not willing to settle. What should I do??
I have no job, just graduated, have a younger child, and am discovering that a BA does not do ANYTHING but make you more poor.
I am selling everything I own to raise the money. What is the lowest percentage they will usually settle for of the total amount owed?
My plan is to send an Answer and a Declaration of Appearance to deny the charges and request documents verifying the debt to buy me some time. How do I go from there?
Do I send them a low ball offer and then wait for a reply?
Please tell me how the game is played.
THE REALLY SUCKY PART? I hardly played a hand in accumulating the debt myself, but must bear the responsibility because it’s in my name.
Also, how long does it usually take for them to get back to you after you send an Answer?
Really? 25%? Do you think they’ll take that?
Also, after I settle will it still show on my credit? Do I need to wait for them to send me something in writing to conform that the debt is satisfied or will they take my money and try saying I agreed to a greater amount? So many questions.
I need help, Please.
I lived in PA my whole life, own a home there. I lost my job 1.5 years ago, and I had to file bankruptcy in april of 2007. For the past 8 months I have been staying with a friend and working in Missouri. But my home is in PA, but been using my friends address for local employment.
My question is:
Do I file my federal and state taxes for Pennsylvania like I always have? If I do that, and on my PA forms, put down taxes that were paid to MO, or do I have to file MO only, and if I do that, PA will be looking for me for taxes? Or if I do the PA income tax, will MO be after me for a tax return?
Also, does my bankruptcy and chapter 13 payment plan affect my tax return at all?
I am in need of help. I always do my taxes myself cause I cannot afford to pay an accountant right now.
Please help.
Please read all of the following to understand my concern before responding.
Saying up front, I’m not a lefty or a righty. I want the best person for the job at whatever level in politics. So, I’ve been getting started on my research. While making dinner last night, I heard something disturbing on TV. The subject was about how Newt Gingrich went against his party and his quote about “right wing social engineering” or something like that. Then a picture of a Republican who was head of something, I didn’t catch it, followed by an audio of him saying “….Medicare as we know it has to change or it will go bankrupt by 2024.” Later, I went on the Internet for info on this issue and became acquainted with the terms “right” and “entitlement”, as they relate to these issues. “Entitlement” was used in the same context as welfare or a gift. Then I began to consider these facts:
1)My sister, who is retired and disabled, worked for over 30 years and paid into Medicare via mandatory FICA deductions
2)I worked for over 30 years and did the same
3)Neither my sister nor I were given a choice. We were forced to pay.
4)Just because the Republicans say Medicare will go bankrupt by 2024, does that make it so?
I then read that Republicans think that what my sister and I were forced by the government to pay into for over 30 years, with a promise that we’ll be covered after age 65, is NOW somehow the equivalent of us asking for welfare? They want to change it later so that my sister and I will get a “voucher” to go buy our own insurance from the insurance company of our choice, but we won’t be able to afford the difference between what the voucher allows us and what the insurance company will charge for the same coverage. Seems to me, we should be guaranteed the same or better coverage for no additional financial burden on us, since the government made us pay for 30 years without asking us if we want to or not.
On the other hand, I’m reading that the Democrats are saying no to Republicans on changing Medicare, saying to the people, “You have worked and paid into it, you deserve it, and you will continue to receive it.”
If the above is true, then label me what you want: liberal, lefty, whatever. I’m about fairness. In this issue, if the Republicans, or “conservatives”, were successful in this, then for me, the “conservatives” would be bullies, and the “liberals” would be their victims. The fox was allowed into the chicken coup by dropping regulations for Wall Street, corporations, and the banking industry. Greed ran rampant and unchecked, creating an economic crisis. The American people as a whole already bailed out banks and corporations. Now they want to rape Medicare, and senior citizens, to make them all richer. How low down and dirty is that? Do you think this is right or fair?
@John: Given what I wrote above then reading your "contribution", I was about to call you an @$$ Hole of the highest order. Then I realized you’re just jealous, bitter, and ignorant, and you deserve my pity.