I currently owe around ,000 in credit card debt. I can pay my regular monthly utility, etc bills, but I recently had to accept a part-time job and cannot handle the growing credit card debt I have incurred. I own my own house and owe nothing towards it and I was just investigating someone else out there who has had to file bankruptcy that can lend me some self advice on the process and what to do or not do. I’ve also heard of filing on my own instead of using a lawyer to avoid the high fees. Has anyone done this also? Your help may be much appreciated!
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I am looking at having to file bankruptcy due to credit card debt. Can anyone give me advice???
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should i file bankruptcy or do a debt consolidation?
I did 2 years of active duty in the military and when I got out in 2008 i went back home (Los Angeles). i got out with a 15,850 dollar "Car Loan" I’ve been unemployed since then, now I have a 35,000 dollar debt. I am still in the reserves but I can’t find a civilian job. I just received my phlebotomy technician certificate and I’m investigating work on the medical field. the 35,000 dollar debt does not let me live in peace I can’t think right. I’m merely 21 years old, I wanna go to college. I don’t know what to do, I’m about to be homeless. I need help. Please give me some suggestions. Anything would be helpful.
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Do you think this can explain the housing bubble in a way you may understand?
Heidi is the proprietor of a bar in Detroit. he realizes that virtually some of his customers are unemployed alcoholics and, as such, can no longer afford to patronize his bar. To solve this problem, he comes up with a new marketing plan that allows his customers to drink now, but pay later. Heidi keeps track of the drinks consumed on a ledger (thereby granting the customers’ loans). Word gets around about Heidi’s "drink now, pay later" marketing strategy and, as a result, increasing numbers of customers flood into Heidi’s bar. Soon he has the largest sales volume for some bar in Detroit. By providing his customers freedom from immediate payment demands, Heidi gets no resistance when, at regular intervals, he substantially increases his prices for wine and beer, the most consumed beverages.
Consequently, Heidi’s gross sales volume increases massively.
A young and dynamic vice-president at the local bank recognizes that these customer debts constitute valuable future assets and increases Heidi’s borrowing limit. He sees no reason for some undue concern, since he has the debts of the unemployed alcoholics as collateral.
At the bank’s corporate headquarters, expert traders figure a way to make huge commissions, and transform these customer loans into DRINKBONDS, ALKIBONDS and PUKEBONDS. These securities are then bundled and traded on international security markets. Naive investors don’t really understand that the securities being sold to them as AAA secured bonds are really the debts of unemployed alcoholics.
Nevertheless, the bond prices continuously climb, and the securities soon become the hottest-selling items for some of the nation’s leading brokerage houses. 1 day, even though the bond prices are still climbing, a risk manager at the original local bank decides that the time has come to demand payment on the debts incurred by the drinkers at Heidi’s bar. He so informs Heidi. Heidi then demands payment from his alcoholic patrons, but being unemployed alcoholics they cannot pay back his drinking debts. Since Heidi cannot fulfill his loan obligations he is forced into bankruptcy. The bar closes and the eleven employees lose his jobs. Overnight, DRINKBONDS, ALKIBONDS and PUKEBONDS drop in price by 90%. The collapsed bond asset value destroys the banks liquidity and prevents it from issuing new loans, thus freezing credit and economic activity in the community.The suppliers of Heidi’s bar had granted his generous payment extensions and had invested his firms’ pension funds in the various BOND securities. They find they are now faced with having to write off his bad debt and with losing over 90% of the presumed value of the bonds. his wine supplier also claims bankruptcy, closing the doors on a family business that had endured for 3 generations, his beer supplier is taken over by a competitor, who immediately closes the local plant and lays off 150 workers. Fortunately though, the bank, the brokerage houses and his respective executives are saved and bailed out by a multi-billion dollar no-strings attached cash infusion from his cronies in Government. The funds required for this bailout are obtained by new taxes levied on employed, middle-class, non-drinkers who have never been in Heidi’s bar. some questions? -
Can you file for Bankruptcy on your own without an Attorney?
I can read well, follow instructions and I can do the leg work on my own. Where can I obtain information on the qualifications and needed forms and actions I need to fill out and do?Thanks for answering. please I’m investigating specific Information. Thank you! I need to take care of my problems due to loss of job last year and I’m getting on my feet this year,but I’m still plagued by about 13,000 in debt.
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can college students file for bankruptcy?
I am a college student. Directly before high school I had a run in with some credit cards. I went through a rough time, in and out of hospitals, taking classes and dropping them and dealing with family illnesses and a miscarriage… I was working 2 jobs and paying my bills, until I could not longer pay them. I want to file for bankruptcy but do not know how it may effect my student loans or financial aid.. Help! I need to find a banktruptcy attorney and/or financial advisor.
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Does the law protect people who file bankruptcy from discrimination by a perspective employer?
Even if 1 is qualified in every way? I had to file 2 years ago because I lost my job due to being very ill. While I was ill, my bills piled up so high I could not pay them and filed bankruptcy. The lawyer that handled my bankruptcy told me that employers cannot discriminate against me because I filed. Is this true? I have a chance for a better job that I am well qualified for. However, the background check application said that a credit check may be done. I am OK with the background check, but the credit check may show this bankruptcy 2 years ago. What should I do? The man that interviewed me merely asked about the background check and I told him the truth, that I had never been arrested for anything. He did not ask about the credit check.
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Does the law protect people who file bankruptcy from discrimination by a perspective employer?
Even if 1 is qualified in every way? I had to file 2 years ago because I lost my job due to being very ill. While I was ill, my bills piled up so high I could not pay them and filed bankruptcy. The lawyer that handled my bankruptcy told me that employers cannot discriminate against me because I filed. Is this true? I have a chance for a better job that I am well qualified for. However, the background check application said that a credit check may be done. I am OK with the background check, but the credit check may show this bankruptcy 2 years ago. What should I do? The man that interviewed me merely asked about the background check and I told him the truth, that I had never been arrested for anything. He did not ask about the credit check.
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How do I file for bankruptcy?
I’m way behind on credit cards and I’m in collections for some. There is no way I may be willing and able to catch up and the minimum payments and fees are too high. I couldn’t pay my rent some more, the utilities, and get my car fixed up ,and pay credits cards so now I had to move in with my in-laws. Bankruptcy is the merely way I can get back on my feet. My fiance lost his job and we’re really struggling.
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If i a file for bankruptcy because i can not pay my credit cards what are the consequences?
I am 24 fresh out of college and i found myself in a huge amount of debt with credit cards ( 22K) to top it off i lost my job and i can not pay my credit cards. if i file for bankruptcy what are the consequences and what happenes next? do i still have to pay that amount ? how long is this going to haunt me for?
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File ch 7 bankruptcy with employer credit card debt?
I work for a bank where I have a 30k credit card debt with. Along with other cc debts I want to file ch 7 bankruptcy discharge it some and start fresh. Total cc debt is 60k.
I am aware my employer/creditor can NOT fire me as a direct result of the bk, but I fear my career is done with this company if I do file. I know theres hindreds of thousands who file either 7 or 11, but anyone ever file credit is his own employer?What can HR do to someone, look for dirt on you, won’t promote or allow you to post for internal jobs? Again the law says they can’t fire you bc of Bk…