After recovering from being very ill, I’ve got 40K in credit card debt spread over 4 credit card companies. I’m better now but no longer able to work.

I’ve got 18K in cash and receive just enough disability to pay my basic living expenses. I’d like to settle my outstanding cc debts with the 18K or less rather than file bankruptcy.

Am I dreaming to think all the credit card companies would agree to split up the 18K appropriately and agree to all debts settled in full?

If not a dream, how best to make this happen? Should I hire one of the firms I see advertised on TV out of the 18K or is there a way I could just do this myself?

Technorati Tags: bankruptcy, credit card companies, credit card debt, debts, disability, living expenses

I’m an unemployed teacher and have just lost my car (my only asset) and am representing myself in my bankruptcy. My combined debts (assuming I’ll still owe about ,000 on my car once it sells at an auction) is approximately ,000. I do not have a savings and no longer have retirement accounts because I had to cash them out to cover living expenses. Twelve years ago I had to file bankruptcy and am concerned about how that will look to the judge. I worked to earn my college degree since then and was doing well when suddenly I found myself without a job. Any thoughts on that? My debts back then were fully discharged, and I’m hoping to file a Chapter 7 for another discharge of my debts. Here are some of my questions, any input would be appreciated:

1) Is there any kind of assistance available for people who cannot afford the filing fee?
2) Once I file, how long can I expect for the court date?
3) Does the online bankruptcy class that is required cost anything?
4) Can my 0 debt to the IRS (back taxes) be included or just the interest and penalties?
5) Any suggestions for someone doing this without an attorney?

I’ve done my research and am actively seeking answers to my questions, but there are some very informed and helpful people on this site, so for peace of mind I really welcome your input.

Thank you!

Technorati Tags: auction, back taxes, bankruptcy, chapter 7, college degree, debts, irs, job, living expenses, peace of mind, retirement accounts, twelve years

a friend committed fraud…did time in prison and now 10 years later is receiving a notice from the Franchise Tax Board for an outstanding balance for restitution. He has no collateral, horrible credit and no savings. He is currently making monthly payments, but they are impacting his living expenses. Can he file bankruptcy despite this court-ordered debt?

Technorati Tags: 10 years, bankruptcy, collateral, franchise tax board, fraud, living expenses, restitution

I filing for chapter 7 bankruptcy and I own a home that is worth less that what is owed but I wanted to keep it and was thinking that I could rent it out to a family as I am single and I could rent a studio apt for myself giving me enough to live on until I can get a better job hopefully in the future. I have to file bankruptcy but was hoping in the future I would have a job that pays enough for me to make the mortage payments on the house and still have enough money left over for living expenses, but right now I dont. Is it possbile to rent out the house and still declalre bankruptcy?

Technorati Tags: chapter 7 bankruptcy, enough money, job, living expenses, mortage payments

I know this may be rather irresponsible of me but I have backed myself into a corner and I see no escapes other than declaring chapter 7. If I never would have financed my car (at age 19 now 22), then I would not be here asking about it. I still have 3 years left of payments on my car and insurance on top of that plus living expenses. I DO NOT wish to work full-time like I have been for the past 3 years because I want to just focus on school and not worry about bills. I only work part-time now and my income does not meet my needs. I figured why not since I won’t be buying a house anytime soon. I plan on saving up for a cheap car (about 2 grand) to have until way after graduate school and an established career. I was very naive and ill-advised a few years back and would rather suffer with a bad credit report now than deal with the bills and be forced into full-time work again. Please, I need some honest, sensible opinions. Thanks!

Technorati Tags: 3 years, bad credit, buying a house, chapter 7, cheap car, credit report, escapes, full time work, graduate school, insurance, living expenses, part time

A friend of mine who drew K in credit card debt is debating on filing bankruptcy. He is fully able to repay his debts to his creditors, and fear that he may be putting his future at risk. As many people know bankruptcy and going through with it takes a lot of careful thinking. My buddy is hardheaded and thinks the bankruptcy courts will be open to discharge 100% of everything. Not a bad idea if he owed 0K and in over his head…K is workable in my book since he has no real living expenses. Any ideas?

Technorati Tags: bad idea, bankruptcy courts, credit card debt, creditors, debts, fear, filing bankruptcy, living expenses, risk

This persons income went down by half due to the economy so they can no longer pay debt incurred due to a year of not working. They’ve already had consumer credit counseling, which referred them to a lawyer to file bankruptcy. Do they get to keep their car and house? They really don’t have the money to pay accept for basics for living. Will they be made to pay back any of the credit card debt?
The difference in income means that the credit cards can’t also be paid along with living expenses (house, utilities, car).

Technorati Tags: bankruptcy, consumer credit counseling, credit card debt, credit cards, economy, lawyer, living expenses, money