do we need to file bankruptcy after foreclosure?
In case of 2 loans, do we need to file bankruptcy after the house was foreclosure? The second loan tried to collect the money.
Posts Tagged ‘loans’
should I file for bankruptcy?
I am 23 years old, in college part time and working part time. I am recently divorced and have about ,000 in loans and credit card bills I got stuck with that were all aqquired during the marriage. Since I can only afford minimum payments (and receive no financial aid) I feel like I should look into bankruptcy.
I have two credit cards, so If I file bankruptcy on just my loans (,000) and one credit card, does keeping the one credit card plus an account balance with Dell (for a laptop I financed) help my credit score at all, as opposed to filing on everything I owe?
And everyone says to do it before I get any older if I’m going to do it. And I don’t expect any new bills (I have a dependable car and low rent) anytime soon.
Sometimes I feel like bankruptcy is "cheating" but I had an extra income at the time I signed for the loans, and of course didn’t expect to get divorced. I feel helpless, as the balances barely go down and i’m spending money I need to live, or I’m going to have to quit school.
I’m 26 and owe 44,00 in student loan debt. I no i will not be able to pay it back. Should i file bankruptcy?
I kept dropping in and out of school for years. Now i’ve taken a job as a painter’s assistant that i love. But i no i will not be able to pay anything on my loans because i barely make minimum wage. I don’t care about my credit because i already got bad credit.
If I file bankruptcy this year, will all of my bad credit history still be listed on my credit report?
Someone told me that even if you file bankruptcy, all of your past bad credit history would still be listed on your credit report to be viewed by anyone who requests it along with the fact that you have filed bankruptcy. Is this true?
What you’re saying is not true SmartA$$…people can get loans pretty quickly even after filing bankruptcy and I know quite a few that have done so. For myself, that was not my intent anyway…I just thought that the fact that it says "bankruptcy filed" was damage enough without having to list all the crap you are no longer responsible for.
College debt has ruined my life, and I’m mad at myself for leting it happen.?
I am beginning to regret going to college, it seems the only thing I have attained from it, is debt. When I went to school I was allured to the dream of being an airline pilot. I finally got my pilot’s license, but it got to expensive, so I switched to Aviation Management. I am so depressed and mad at myself for letting this happen, and it seems like there is no way out. A few times I forgot to fill out the FAFSA so I had to take out loans to cover the expenses, or I was late getting it in and got no money.
Here’s where I am at:
1 Loan for ,000 (Monthly Payments of 476/mo); 1 Loan for 620 (Monthly Payments of 128); 1 Loan for 00 (Monthly Payments of 50), and Credit Card Debt of about 00. So I have loans totaling 420.
I also have a car payment, cell phone, however I pay no rent, but my grandparents will soon be asking for that.
I just got a new job that pays me 000 per year. So if I don’t put anything into savings I can pay off my loans in about 4 years, however when you begin to figure in my other expenses it’s more like 7 years.
Consolidation is not really an option, because the 000 is an “Education Alternative Loan”, it’s not a federal loan. The 00 loan is a no interest loan. And the 620 is a direct federal loan.
-My dilemma is that, I have a girlfriend that I want to begin a life with. I wish to get an apartment with her maybe in the next year or so. And I want to marry her.
Situation 1- Do I put no money into savings and just tackle the loans head on? I will have no money for retirement or a down payment on a house.
Situation 2- I put some money aside into savings, and it will take longer to pay off?
Situation 3- Declare bankruptcy if I can?
I apologize for this taking so long, but I don’t know what to do. Thank you for your help.
I am filing chapter 7 and need advice on possibly short selling my home. (Or not…)?
I have listed all of my outstanding debts on my bankruptcy (including the 2 mortgages on my home), although I had planned on keeping our home and continuing to keep up the payments. My atty told me that if I needed to walk away from the home at any point after the discharge, that the bankruptcy would help me to avoid any judgements as long as I didn’t refinance the loans. But even without paying the debts that I am filing on, we are still finding that our monthly expenses are far outstrapping our income, so we are thinking about short selling and getting a smaller rental home for a while until we get back on our feet. My domestic partner is on SSI, and is "judgement proof" from what my atty says, so between that and my chapter 7 simply walking away is an alternative to short selling. My question is: what is the best thing to do for the long term?? At this point, both my partner and my credit scores are in the toilet anyway. I’m just worried about never having credit again.
I’m 23 with bad credit, Should I file for bankruptcy?
I have unpaid Medicals bills that are in collections (about 11, in the amount of 7,000 $$) With 2 positive current loans on credit report. Should I file for bankruptcy? Please offer Pro & Cons. Keep this in Mind I would like to purchase a home within a year or two.
If i file bankruptcy will it show on my wife’s credit?
Thanks to idenity theift i pulled my credit, i found alot more than i expected but as it turns out they do all pan out. I am thinking about filing chapter 7 bankruptcy but since my wife’s credit is good we dont want it to show on her file, heres the thing. We are young we have nothing in our name our house is owned by her parents our cars are paid off we have no loans or anything of that nature with both of our names on it I would be filing by myself with out her. All my bad credit is old starting when i was 18 and I want to get a fresh start and with all the old medical bills and things bankruptcy seems the best for our family. I’ve read alot on these sites saying your credit is there credit and when you are married there debt becomes yours, this isnt true my wife’s credit score is over 700 while mine is in the 500’s this is why i am asking i dont want it showing up on her file…. does anyone get what im trying to say???
Im filing chapter 7 bankruptcy what do i do about the payday loans i owe?
I’m stuck in a horrible cycle of paying one loan off and then going back the next day to get the money to pay the next one. I am going to file chapter 7 bankruptcy. It takes about 3-4 months to complete. What should I do with the loans that I owe now? Please help!! Thank you
I plan to include them in my bank, but what do I do with them while I am filing? Any idea’s?
Thanks again
Has anyone been thru this before?
What is the best way to file bankruptcy if you do not have assets?
I have around k in debt. The debt is all personal debt and there are no co-signers nor assets in question. As for my personal assets, I don’t believe I really have any. My car is eight years old and I live in an apartment. I was considering filing bankruptcy before I begin a new job and get better pay (therefore, they do not see a bigger paycheck and feel I can pay back my loans).
So, the question is, what bankruptcy should I do if there are no assets which can be liquidated to pay back my debtors?
Funny how many people jump down someone’s neck when they talk about bankruptcy. I guess Enron, K-Mart and others are fine, but regular humans are not? Get a life, people…
I have three loans I can’t afford. What is my best option?
I have three loans for land that I purchased a couple years ago (I know…good move) for 35k each that are now worth about 9k each. I can still afford the monthly payments, but I am wondering if it is just best for me to file bankruptcy (or if some other alternative exists). One of the loans is with IndyMac bank and the other two are with Wachovia. Any suggestions other than for me to jump off a bridge?
Also, I have a 780 credit score that I would hate to let go, but I figure as long as I can produce enough income I don’t have to worry about my credit being destroyed.
Well, the reason why I was thinking bankruptcy is because I figure its cheaper for me to repair my credit than to lose 78k (26k on each piece of land). At this point I dont care about the land since nothing is on them.
Fundamentalists..do you believe the commandment that says, "thou shall not steal"?
When one defaults on a loan or does not repay credit card debt…you are stealing….so, why do so many Christians say this along with bankruptcy, etc…is o.k…
Those who fall into bad financial state because of health or unforeseen circumnstances should be helped by the church to repay their debt…should they not?
Therefore, fundamentalist Christians should not default on loans…because stealing is wrong….yet, according to Newsweek, those who file bankruptcy are equally divided between those who label themselves as Christians and those who don’t.
Quite honestly, I am tired of paying for you people who cannot control your spending and live excessive lifestyles…but, yet you somehow justify it as you do all of the sins that affect yourself…while pointing out everyone elses…why is that?
settle credit card debt for half?
i heard people settling their credit card debt for almost half the balance and the rest was forgiven. and this was directly with their bank. not a third party. how can i do that? how can i convince bank of america to allow me to pay a portion of my 0 balance and have the debt settled on my student visa credit card? this would help greatly when apply for loans.
Is bankruptcy so bad? How hard is it to get credit cards or loans after a bankruptcy?
I don’t want to file bankrupcy, but I have been unable to find a decent job for the past 8 months. I’ve had to use my credit cards for things like groceries and gas. I can no longer make my minimum payments, although I can pay a small portion. Further, I have been accepted to graduate school but I might not be able to afford it unless I file for bankruptcy or only pay a portion of my minimum payments. I have researched bankrupcty and the alternatives, but it seems so hard to get objective advice. Most information sources have a vested interest in the topic. Some claim that a bankrupcty will make it impossible to obtain future credit and prevent you from getting a job. Others claim it’s not so hard to get credit cards or loans. I know a bankruptcy won’t be fun, and I feel terrible to be considering it, but I’m wondering whether it’s really as bad as everyone thinks it is. Can anyone give me some advice or direct me towards an objective source of information? Thank you.
Why didnt Japan go bankrupt during the meiji reformation and changing from gov centralized to private?
During the reformation to the Meiji govenrment, why didnt the govenrment go bankrupt as they were selling their industries and they were not exporting as much as they should have.
Based on the below response, the Japanese government did, with the opening of its borders, start to establish enterprises because they assumed that the private sector would not risk a financial burden. But after several years, these enterprises started to loose the government money. These enterprises were steel, ship production, etc. As such, they sold these enterprises to private entrepreneurs for cheap, while simultaneously producing railroads, and all this time the Japanese government had little to say for taxes as during the Tokugawa period, taxation was based upon rice and was highly variable depending on the season. So my question to elaborate is why didnt the government go bankrupt during the this time, with spending and production high, little savings and no major loans to speak of. ^_^
I was denied American Exp for Business due to a personal Bankruptcy years ago. Is there any alternatives?
Is there any alternatives for loans or business cards? My Company has not even started yet. I wanted to purchase merchandise without getting a loan. I don’t know what to do – please help. My company is an LLC Online only. I only have an online store. Can I buy stuff with a personal credit card and write it off for tax purposes or do I need a Business Credit Card?