I have approx ,000 in credit card debt….I don’t make much money….is bankruptdy the way to go for me?
Yes, I don’t have bad spending habits, I’m a business owner that used the credit I had to try and save a business in the downturning market. Now that my business is pretty much dead, I don’t make even 20% of what I used to make so this debt is way out of my league now…I also owe aprox 120,000 in equipment…
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Should I file bankruptcy?
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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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Should I File Bankruptcy…???
I’m 27 and had my credit damaged when I lost a 6 figure income (self employed). Everything on my credit is 3-4 years old and I would think would come off before 7 years. However, I have now had a couple judgements against me for a total of ,000 and my total debt on my credit report is ,000. I have no income right now and no assets. some suggestions would be much appreciated.
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Should I file Bankruptcy?
Here’s my problem… I am 22 years old, and I went to college for 2 years. during that time I racked up some pretty large bills that I couldn’t handle. I have about 7500 dollars charged off and in collections from credit cards. 2200 of that I have a judgment against me for and they said that they could garnish my wages soon if I don’t pay it off. I had a repossession 14 months ago and owe Wells Fargo ,000 to pay it off. Last but not least, I subleased an apartment to a stranger 2 years ago and I moved out of town. Now I have found out that that person stopped paying the rent and that because I subleased the apartment I am responsible for the rent that was not paid which come out to about 00. So, some together I owe about ,000. I have called some of the creditors and asked what it would take to settle. before calculating that some up it comes out to about ,000. The merely thing I have paid perfect is 2 student loans and that’s it. I have no car and I cant get a car loan. I have been rejected for an apartment because of the judgment on the sublease issue. Basically, I am better off dead but I cant take myself to do that. So I have to decide what to do….Is bankruptcy the way to go?
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Should I file Bankruptcy or what?
SO my wife and I purchased our first home in 2006, and shortly before we had our daughter. Due to a lot of time off from work due to complications in my wife’s pregnancy, and me losing my job we fell behind on the mortgage. We struggled with paying what we could until the economy got really bad in 2008 and we couldn’t afford to even pay the morgage at some. Then in June of 2008 we lost the house to forclosure… Now my credit score is in the low 500’s and I can’t get approved for ANYTHING. I know from researching that both foreclosure and bankruptcy stay on your credit for 7 years, but which is better to deal with??
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Should I file bankruptcy, settle, or keep ignoring my creditors?
I have an old Citi card, Capital 1 card, Best Buy, Chase, and then a few smaller ones- Wal Mart, Express, and Lane Bryant. I haven’t made a payment on most of them in at least 2 years. I stopped paying them cold turkey because they jacked the interest way up and wouldn’t negotiate with me, and I couldn’t afford to pay them along with tuition, rent, etc. since I didn’t receive help from my family. I’m not even sure what I owe, but with some the fees I’d estimate I owe a total of ,000-,000 spread out on them some. Without the fees it would have been half of that. In addition, I have ,000 in student loans. I’m not making much money right now at some. For now I’ve just been focusing on paying my student loans in the hopes of rebuilding my credit. I don’t see how I could afford paying off my credit cards. What should I do about them? I’m not getting many calls anymore, but lately someone is calling threatening to sue me for 00 credit card. They have threatened to sue me before (Citi Bank) and even sent me a summons of court letter, but never followed through. What is my best option? For now I plan to keep ignoring them but I am sick of this problem. Help!
Thanks roscoedeadbeat. some my credit cards are already in collections, and they have been for about 2 1/2 years. I also had a 2nd Citi and 2nd Chase card but paid them off as a settlement years ago with some student loan money… Now, the problem is, I don’t feel like I really can afford to pay them. I’m already having a hard time paying my student loans- right now I have to pay 0/month and soon I may start paying my private loans which may be around 0/month for a total of 0. I feel so overwhelmed!
Maybe I’ll talk to them and ask what is the lowest they can settle for, and then see if my family can help me at some, but I hate to ask them for help. Thanks for your answer though.
Thank you for the answers Sgt Big Red and carl.bennet. I looked up the statute of limits in my state (MN) and it is 6 years… so I am about halfway through. I might end up making more money in the future, but I don’t see it happening for a while. I plan to head back to school within the next year (either part-time or full-time if I get a graduate assistantship), and that may take me at least 2 more years. So maybe I may continue to wait it out. I don’t want to deferr my student loans right now because I want to save deferrment for a later time in case I’m in a worse situation then- such as if I have a baby or get sick. And I can merely defer my federal student loans, I can’t defer the state loans. It’s so hard- I wish I had been smarter about debt, but I guess you live and learn. I appreciate your answers.
Oh 1 more thing- this is a bit desparate, but if I moved out of state to where they have a lower statute of limits, would the new statute of limits apply to me? Or would it be the same statute of limits since it originated in MN? Thanks! -
I have a foreclosure and 20k in debt should I file bankruptcy?
If not what should I do? I just feel like, Why pay my credit card debts if my credit is already jacked up? I want to do whatever is best for my future?
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Should I file bankruptcy ??
I owe about k in credit card debts. I make about 0k a year. From what i have been reading, i may need to file Chapter 13. Im not paying some my credit cards anymore for 3-4 months now, im focusing on my house, car payment & utilities. Business is still up and running good but it would take me atleast a year before i can even catch up on anything. It very very tight right now and it is hard… please help.
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Should I file Bankruptcy??
I am about ,000 in debt but I already have a judgement against me for ,000. I was served with papers for past medical bills and I had a car repo’d about 3 years ago and they are threatening a lawsuit. I have numerous other things on my credit. I make less than ,000 a year and have no assets. I’ve contacted several Credit Counseling companies but there is just no way I can pay the monthly payment they come up with. Help!!! I dont know what to do. I really don’t want to file but I’m beginning to think it is the merely thing I can do.
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Should I file Bankruptcy?
I am 2 payments behind on my mortgage, about to be 3 payments. My husband is about to lose his job because he has to be out of work for 2 weeks due to having an emergency appendectomy, my electric bill is nearly 30 days past due. What would filing BK do to my mortgage?