I’ve tried to pay on it but it has spiraled out of control, late fees , overlimit fees, has just made this impossible to pay back without disrupting my livelihood. Which chapter of bankruptcy should i file
I have debt that may total about 00 but i live pay check to pay check and just found out i am pregnant. i have not paid any of this for about a year or two. trying to get my life back in order before the baby is born but was hoping to settle my debt. I had 3 credit cards one for 300 and one for 700 one i only owed 80 dollars on but stopped receiving bills, i also owe a bank money to just not sure how much. i couldn’t make the minimum payments anymore. lost the place i was living at and everything. finally getting my life in order but at my whits end. and advice would be great
so basically i cant pay or settle for anything? if i cant deal with the collection agency then how to i get rid of the debt without them taking further action against me?
I do not have any money but i do have a snowmobile i can try to sell. no i haven’t got anything from them at all no mail just phone calls that i don’t answer. but thats what happened to my parents but they owe way more then i do but i dont want that to happen. i dont want to wait around for something like that to happen. even if i somehow got the money to give them 300 for the 300 limit credit card and just not pay all the interest and late fees… would they be more willing for something like that? i have not ever contacted them in the past 2ish years. i dont know just frustrated trying to find answers of how to deal with this when it is this out of control….
I recently received a letter from a debt collection agency for a 15 year old debt of almost 00.00. The origional debt was around 0 but after all this time and with all the late fees it is now pushing 3 grand. The letter states that this collection agency "Will accept .00. Once paid, our records will reflect the status of your account with Afni, Inc (the collection agency) as settled in full." Is this a legit offer or is this just a way to get me to admit to and start taking care of this debt?
I am thinking of filing for chapter 13 bankruptcy. I don’t qualify for chapter 7. There is a few things I don’t understand, if I owe a total of 30,000 with creditors, some of which had interest and late fees accumulate. Will I be able to have the court take of the interest that accumulated. For instance I have a credit card with 00 balance and due to late payments & interests its 00. Will I be able to remove the extra 00 that was incurred.
Can I file the paper work myself? What would it entail? I checked a lawyer in NY and he wanted 00. The reason why I am filing for bankruptcy is because I can’t afford the bills. Does anyone know the typical fee for a bankruptcy attorney in NYC.
Do I have to pay the attorney in full for the creditors to stop calling?
How does filing chapter 13 affects getting a job down the road, particularly in the engineering field, IE utility, phone, construction etc.?
I have about 10,000 – 12,000 dollars in debt. Mostly credit card debt. I dont have anything I’d lose if I did file except a washer.
I am being screwed over by credit card companies so I can never get my debt paid off. They keep changing minimum due dates on me and charge me late fees if I pay my bill a day early or one day late.
Their also uping my interest rate everytime I pay my bill late. I cannot get around that either as they keep changing due dates on me.
I really dont want to lose my washer. This concerns me if I file bankruptcy.
Furthermore, will this affect my future wife and us possibly getting a home?
Please do not judge me its not my fault I ended up in this mess. My debt would be gone if these credit card comopanies did not screw me over like they have. I would have this all paid off by now.
I was looking to buy I house that some friends of freinds owned. I had been told they were going to lose the house due to foreclosure. They ended up filing for bankruptcy. What happens with this house case? Are they just forgiven for missed payments and late fees or is there a chance they can lose the house after all? I am still interested in the property. I don’t know them well enough to bring this up with them personally. From what I understand thgey had already made alterntive living arrangments. I’m just trying to gauge what my chance of acquiring this property is
Here’s an interesting situation. I was out of the country and thought I paid my balance in full, but money sat in my bank account for a few months not moving. I’ve never had a late fee in my life, but I am young and don’t really have much to have credit built on yet.
Anyway, I was out of the country like I said, and the account went 5 months past due with just very small payments automatically paid. However, they weren’t enough, and it now shows up as 4 months delinquent. The late fees made it where I don’t have quite the money to pay in full, but I can get help from relatives to pay in full now. However, my account was sent to collects, but it was not charged off. The collections company said they were only contracted to help the creditor. It was not charged off.
They offered a settlement to me that is about ,000 less than the full amount, and I really need money right now. Should I take the settlement or pay in full? I am worried about my credit being hurt more, but I also spent too much money on someone I thought I was going to marry. I certainly won’t make that mistake again because now I have trouble paying for gas and food.
I am paying off my cards which are over 5 yrs old, and they’re giving me settlement amnts to pay them off. Most of the balance is late fees, my credit is slowly going up. Am I going to have problems in the future getting credit if they ve seen that even though I paid all my debt, I chose to make a stlmnt amount to close it? Anyone in similar boat?
I have pretty good credit, my fiance has a credit card bill for about 00 that has been in collections for about a year. The amount on the card was just over 00, everything else is late fees & such.
What are the other risk factors involved? Am I going to start getting calls as his spouse wanting to settle the account? What are the other things that could happen because of this debt once we’re married?
I’m curious because the only things I can find online relates to debt & divorce, not marriage. Thanks in advance.
Also, I’ve been pre-approved for a home loan. Due to his credit, we applied in my name. I’ve already been quoted a 6.3% rate on the loan, but we are just now starting the process to work out a deal on a home we have found. Once we are married, will this rate change?
We’re in West Virginia.
We are also getting married in less than a week. He’s tried to settle a few times, but at this point the only option to settle they are giving is paying the entire debt in 2 payments. We aren’t in a situation where we can afford to pay off over 00 in 2 months or less.
Like I kinda mentioned, impossible to close on a house within the next week, so that option is out.
As far as keeping things seperate, the checking account is already shared. The address thing is impossible as for one he doesn’t want his family to be made aware of this, plus it’s impossible to use another address. When we moved in together, the company started sending letters & such to our new address before other mail was even sent to the new address.
A few people online have stated that if a bill collector agrees to forgive the interest on a loan, and only requires that I pay monthly on the principal debt, I will eventually receive a 1099 form for the amount over 0. However, the collector says since I am paying off the original amount due(principal), minus the interest and late fees, I will not receive a 1099 form since they are willing to settle for payment on the principal. Is this possible for a collector to do? Or is this a trick, and I’ll receive a 1099 form eventually? I will be making low monthly payments on the debt for the next few years and I’m currently on a fixed income without valuable assets.
My fiance has a Bank of America credit card. There’s a 00 limit on the card but after finance charges, late fees etc, the debt is now at 00. She went 120 days late on payments and was called by Card Services, they say they’re a collection division of Bank of America. They offered her settlement in the amount of 00 rather than the 00 on the card. She thinks its a deal because half the debt is "vanishing". We checked her credit report and she isn’t listed as being in collections just extremely late on pay. I argued with her saying that the settlement is bad and that it will affect her credit for years to come but she thinks its a good plan. We’re planning on looking for a house in a year and a half and i don’t want this to affect our buying power. So how does settlement effect her credit? Does paying off the full amount rather than settling look better on your credit report even though the account is past due? What should we do, who’s right here?
I got a letter today from Midland Credit Management, asking for a debt in the amount of ,181.56. The Debt is from Aspire Visa, a card I used to have .. I could not pay it all off since I lost my job and i’m having trouble finding a new one. I can’t pay off this debt in this amount .. it originally was NOT over ,000, it was 0. They added on all these late fees / interest when I could not pay over a amount of time. I tried to make small payments, but obviously they didn’t help, it just got larger and larger. The account has been in collections for a while and so, it doesn’t matter how much I pay, it’s still not enough.
They sent me a letter saying:
"This letter is to inform you that Midland Credit Mangement, Inc. Is Considering forwarding this account to an attorney with the intent to initate legal action to settle the debt.
Please call our office immediately at 800-939-2353 to make arrangements to pay this debt and prevent any legal action on your account"
What do I do?? I cannot afford this .. I have absolutely no funds, and there no point in calling telling them that because well, what are they gonna do?
I’ve told them that I can pay it when I get a job, which I am currently looking for, but if the case goes to an attorney, what are they gonna do? even if I will have to go to court, that’s still not going to get them money .. because I don’t have it. I also have no assets, no car, no house, or anything. So what can they do?
I’m really worried. I am still trying to find any job I can, but even if I do, it will take me a while to save up that much money.
Thanks for your help.
oh, and if you’re wondering, i’m posting this from my aunt’s house, I cannot even afford my own internet. LOL
CAN they take me to court though, over this debt??
I would like to try and negotiate with my creditors. I would like them to drop the interest, and late fees and allow me to pay a lower payment until I am back to work. Is this too much to ask for with my other option being bankruptcy?
I had a medical problem and couldn’t work for 2 years and really hurt my outstanding credit history. I had a ,000 Visa card debt and a ,000 Mastercard debt. I got on a payment program on both cards, offered to me by the banks. I paid both down to below the limit. The k one re-activated my account and I have continued to pay it down to k. The k account, I missed a payment, was dropped from the program and it has now climbed with late fees and penalties to 10. The bank offered to settle the whole debt by paying 10 (70%) by Sept 15th. Last I checked my FICA was 575 or so.
Here is my question? Will I have a more difficult time getting my credit rating up if I do this 70% settlement by paying 10 by the 15th or would it be better to do the following – pay roughly ,500 asap and then pay the rest off over the next 4 months? My goal is to repair my credit in the shortest time possible. I have about ,500 now and might be able to borrow 10 more but it will hurt.
I owe a large amount on my credit card and have not made a payment in sometime. I now have a lump sum of money and wanted to see if the cc company would negotiate on the amount owed. Much of that amount is late fees. Can anyone help me?
last year my wife changed careers, we risked no insurance for 2 weeks, i had a heart attack in those 2 weeks, almost 0,000 i am doing ok, i have depleted our saving, sold my 57 nomad, and cashed in my life ins., to pay the bills. these "wolves still call everyday wanting me to increase my payment(to over 0 i have 2 different bills wanting this much) i cannot afford this, i haven’t been able to pay my credit cards, they are huge now with all the late fees, i can barely put food on the table. i would like to keep my house. should i file bankruptcy and rid myself of all the stress? for my health’s sake
Here it i i use to pay on time all the time but i started school and only work part time my lease for my apartment is up soon and i plan to move in july into a house due to rent being so expensive my credit card is getting higher and higher i have no money to send them i just graduated so i will be a while before i get a new job what should i do its only 1 card the debt is like 1300, most of it is late fees and interest because my card limit was 700