If you won 0 Million dollars in the state Lottery and your state went bankrupt, but they were supposed to be paying you a little bit each month for the next 35 years, what would happen?
The state of MI has a situation like this now.
They have no jobs and the state has an idiot for a governor and they have cut a lot of programs in MI to save money, including the state lottery.
This makes no sense to me, because, the lottery was there to MAKE money. Now they got rid of it! WTF!
Any way, if I had won a large sum of money and the state shuts down the lottery, but they were going to pay me 0 Million or so over the next 30 years, but I just won Yesterday and today, they decide to get rid of the Lottery and they file bankruptcy, do they still owe me the money?
If so, how would they pay me now, if there is no money coming in to the lottery or where ever I won it from?
I would not be too happy about that. Because, when you file bankruptcy, it usually cancels out most of your bills, with a few exceptions.

Technorati Tags: 35 years, bankruptcy, exceptions, jobs, little bit, million dollars, state lottery, sum of money

What if you won the Lottery and the state went bankrupt?
If you won 0 Million dollars in the state Lottery and your state went bankrupt, but they were supposed to be paying you a little bit each month for the next 35 years, what would happen?
The state of MI has a situation like this now.
They have no jobs and the state has an idiot for a governor and they have cut a lot of programs in MI to save money, including the state lottery.
This makes no sense to me, because, the lottery was there to MAKE money. Now they got rid of it! WTF!
Any way, if I had won a large sum of money and the state shuts down the lottery, but they were going to pay me 0 Million or so over the next 30 years, but I just won Yesterday and today, they decide to get rid of the Lottery and they file bankruptcy, do they still owe me the money?
If so, how would they pay me now, if there is no money coming in to the lottery or where ever I won it from?
I would not be too happy about that. Because, when you file bankruptcy, it usually cancels out most of your bills, with a few exceptions.

Technorati Tags: 35 years, bankruptcy, exceptions, jobs, little bit, million dollars, state lottery, sum of money

What if you won the Lottery and the state went bankrupt?
If you won 0 Million dollars in the state Lottery and your state went bankrupt, but they were supposed to be paying you a little bit each month for the next 35 years, what would happen?
The state of MI has a situation like this now.
They have no jobs and the state has an idiot for a governor and they have cut a lot of programs in MI to save money, including the state lottery.
This makes no sense to me, because, the lottery was there to MAKE money. Now they got rid of it! WTF!
Any way, if I had won a large sum of money and the state shuts down the lottery, but they were going to pay me 0 Million or so over the next 30 years, but I just won Yesterday and today, they decide to get rid of the Lottery and they file bankruptcy, do they still owe me the money?
If so, how would they pay me now, if there is no money coming in to the lottery or where ever I won it from?
I would not be too happy about that. Because, when you file bankruptcy, it usually cancels out most of your bills, with a few exceptions.

Technorati Tags: 35 years, bankruptcy, exceptions, jobs, little bit, million dollars, state lottery, sum of money

I’ve got 00 in visa credit card debt. It’s not past due and I’m no risk. I want to know if I can settle this account, and possibly for how much. I don’t want to go delinquent to settle this. What effect will this have on my credit report, this is very important. I have heard of people settling for 50%, but they were all past due. I’m going to call visa about this but I would like to know a little bit about how settling works. (a number to visa would be nice).

Technorati Tags: credit card debt, credit report, little bit, risk, visa credit card

I have about ,000 in credit card debt. I have tried to pay them but I can’t because I lost my job and have been falling behind, in fact some of my credit cards have been charged off.

Just recently I started a new job and it doesn’t pay well because it’s a retail store and it just pays enough for gas and a little bit of food. What I want to know is should I settle my debt and just pay the difference to ease the burden on me?
The other question I have is that I heard that if I settle my credit card accounts, the agencies and/or creditors can ask for their money again and will come after you? Is this correct? And will they screw up my credit again after I agreed with a settlement?

I heard that if you settle they will come after you about three or four years again asking for their money and will screw up the credit for another seven years on top of the previous seven years. I just need clairification as to what to do at this point. Thanks for answering my question BEST ANSWERERS

Technorati Tags: answerers, credit card debt, credit cards, creditors, little bit, money, new job, point thanks, retail store, seven years

I have had two financial advisers tell me to declare bankruptcy when I graduate from college, or sooner to eliminate my credit card and school loan debt, and one telling me that I should probably get more financial aid (all from different firms)…. The interest rates on private loans for schools are ridiculous (I am going through Sallie Mae), and I am already freaking out about how much I am going to have to pay back…

I don’t really have any family, and I am currently in my Junior year in college. I have been working full time, and paying my school on my credit cards, apartment etc etc.. (I have 3 with a total of 00 credit line, and they are usually maxed out when new semesters start). I get a little bit of money from the federal government (FAFSA) for school, but it obviously is not enough… I also have a bit of private loans from my grand mother who is co-signing for them.

So should I declare? When if I should?

I am not trying to skeeze my way out of it, and I am fine with paying it all back with the career I get when I graduate, but I am really scared about the whole thing (private loans), and I would like to know if there is an ALTERNATIVE route without having to sell my first born child. The gov. and my full time job do not provide enough income for school and such, and I can only work so much taking an average of 18 credit hours a semester.

If I declare bankruptcy, will it affect my grandmother since she is co-signing?

Please help me out. I am open to all constructive help and legitimate ideas that don’t involve anything illegal.

Technorati Tags: apartment, bankruptcy, credit card, credit cards, fafsa, federal government, financial advisers, financial aid, full time job, grand mother, grandmother, interest rates, little bit, money, private loans, sallie mae, school loan, semesters

I had very good credit. Two years ago, however, I was forced to lose my home to foreclosure. Actually, it was two houses. After that, my big credit cards were cut or reduced, however, I never stopped giving payments. I’ve always been in good standing. I always give more than the minimum payment. Things were okay after the foreclosures, I could still afford to pay my balances, and it was all just alright.

However, about maybe 3 months ago, I started thinking about filing for bankruptcy. My cards weren’t maxed out, but I was still finding it a little bit harder to make payments. Then, business started thriving again, and that’s where I started spending more. I’d never maxed out my cards. Now, they are full. So, basically, three months later, I find myself in the same situation. Business has gone down once again (even worst than the first time) and now it’s getting tougher and tougher to make payments. Up until this month I still made some big purchases. A dslr camera, and somethings because I could still afford it. 2 months ago I bought me a fridge (2,000) dollars. Business is completely dying, but I’m afraid of filing from bankruptcy and having my things taken away… How long should I wait before I file for bankruptcy? I’m also afraid of being charged for something I honestly had no thought of doing (stealing the banks so much money) I would say I’m about 10,000 dollars in debt (i know it’s not a lot, but for me at the moment it is…)

What should I do? How long would it be reasonable to wait so the court doesn’t think I went and maxed out my cards before i filed for bankruptcy? (seriously, that was not my intention) A couple of months would be good? With my small savings I think I could still afford to make the minimum payments… HELP
I don’t know what I was thinking when I said I’m 10,000 (I was thinking just about a few cards) dollars in debt. I am about 50,000 dollars in debt. If not, more. Like I said, I had great income, and very big cards.
Spalmer: I’ve always known how to manage my credit. I’ve never been a big spender. My business was a thriving one for 14 years. I’m a wedding planner, and believe it or not, I made the big bucks there. Somehow, things are not the same. I also had another business, a small landscape designs. Things happen. At the end, yes, I might have spent much more than I should have, but i DID have the money to do so. Its just that you never think something bad is ever going to happen to you.
I’m sorry not saying what my income was. It’s about 100,000 but, like I said, I’m nowhere near making that. I do not own expensive car. The home I recently (2 yrs ago) purchased I bought cash.

Technorati Tags: banks, credit cards, dslr camera, filing for bankruptcy, foreclosure, foreclosures, intention, little bit, minimum payment, minimum payments, much money, three months

I’ve got 00 in visa credit card debt. It’s not past due and I’m no risk. I want to know if I can settle this account, and possibly for how much. I don’t want to go delinquent to settle this. What effect will this have on my credit report, this is very important. I have heard of people settling for 50%, but they were all past due. I’m going to call visa about this but I would like to know a little bit about how settling works. (a number to visa would be nice).

Technorati Tags: credit card debt, credit report, little bit, risk, visa credit card

I was unemployed for a year and got a little bit behind on my house payments. I finally found a job that paid half of what I used to make, but was unable to make the entire payment so I applied for a modification from BofA and from WF (HELOC) and was given a temporary modification. However, every month, BofA reports it to the credit bureau as "paying late", even though I am paying on time. Now, WF has raised my monthly payment, which I cannot afford, or they want me to pay the entire ,000 loan in full. They have reported it to the credit bureau as "charged off as bad debt". What are my options? Other than these two debts, mortgage and heloc, I have no other debt. Can they come after me and garnish my wages? Should I file bankruptcy? Should I sell the house on a short sale?

Technorati Tags: bad debt, bofa, credit bureau, debts, heloc, job, little bit, mortgage, paying on time, should i file bankruptcy, wages

Looking for the best company to do this with. I have a little bit of cash to work with. I want to reduce the amount I owe.

Technorati Tags: best company, little bit

No new developments (at least I didn’t hear any), but I ran across this interesting piece of tidbit today. I was going through old podcasts of The Hour with George Stroumboulopoulos on my iPod and watched an uncut, half-hour interview with Bettman back in February. Just before the 12:00 mark, this is what transpired:

Stroumbo: "And again, I mean this very sincerely, the NHL are running the Phoenix Coyotes. How is that not a disaster?"

Bettman: "Well-well, we’re not really running them. I mean, Doug Moss is still operating them, Jerry Moyes is the owner…"

Stroumbo: "But other franchises are paying for them, right?"

Bettman: "No, no, no, no, you see, that’s where the…*Strombo about to interupt with another question but Bettman pushed on* What-what’s happened is, we have advanced monies that the club would be ultimately be entitled to…to this point. So that, you know, revenue sharing, national TV, we’re dealing with their cash flow issues. But, what’s the alternative? Not have them go through this season? You do the things that’re necessary to make it work."

Stroumbo then asked him if the Coyotes would play there next season, and Bettman answered that the league has "every expectation that they will." They then went on to expansion issues.

Bit of hesitation there. I know there are some things that you need to keep private from the media, but which is it, Gary? Were you or were you not running the Coyotes as of November ‘08 as you kept saying to the media? Or was it really Doug Moss who’s running shop as you said in February?

For the edited interview that aired (and doesn’t contain this segment), http://www.youtube.com/watch?v=nyl9jo4BLec

For the entire uncut interview that has this part and I can’t find on youtube, it’s a little bit more complicated and I can’t guarantee it’ll work. Open your iTunes, search "The Hour podcasts," and subscribe. The uncut interview is not available for download by itself though. Once you’ve subscribed, go all the way back to February and see if it’s still available for download. This is the only way I can figure out how to watch it for non-subscribers. If someone else can find it on youtube, by all means, post the link.

So what do you think? Can this be used at all to cross-examine Bettman, either back in court or during mediation? This certainly is evidence and should be treated as such according to the rules in bankruptcy laws. Any rebuttal in support for Bettman or against my own arguments?

Technorati Tags: cash flow issues, coyotes, doug moss, expectation, franchises, half hour, hesitation, hour with george stroumboulopoulos, ipod, jerry moyes, little bit, monies, national tv, new developments, nhl, phoenix coyotes, podcasts, quot, segment, tidbit

Im 27 and have been struggling with debt all my life. It just seems to get worse and worse every year and I want to file bankruptcy. I hear it stays on your report for 7 – 10 years? Which one is it it 7 or 10? Is it tough to get a car loan after bankruptcy cause with my credit right now they refuse to give me any credit. 00 to file with an attorney is a little bit steep for me right now, is there any alternatives to file, and can I pay an attorney every week untill my fee is met?

Technorati Tags: 10 years, car loan after bankruptcy, little bit