I mean your credit will be horrible either way and it will stay on there 7-10 years. But the difference I can see is you don’t have to say you filed bankruptcy and you don’t have to pay a lawyer. And quite honestly if you are going bankrupt, how the hell are you going to pay for a lawyer anyways?! Well I don’t even know, so please give me your feedback…THANX!
well let me clarify the situation…it is a business that will be going bankrupt not me personally. and In Texas they CANNOT mess with your homestead or cars..so I know I don’t have to worry about that…

Technorati Tags: 10 years, bankruptcy, cars, hell, homestead, lawyer

In the fall of last year, I thought the economy might be turning around by now. Now Chrysler is going into bankruptcy and GM is following. This means all the dealerships will suffer and the suppliers etc. etc. We have tent cities going up and more people are losing their homes.

Where will all the "blue collar" workers find other employment opportunities? I know that there is a push for alternative energy and infrastructure rebuilding, but I can’t see that this will be enough.

If we can turn it around, what do you think the economy will be like in 10 years. Where will the manufacturing jobs be?

And not just in 10 years, when do you think the economy will turn around?

Technorati Tags: 10 years, alternative energy, bankruptcy, chrysler, economy, employment opportunities, gm, infrastructure, manufacturing jobs, tent cities

I’m in debt about 50K again. When can I file again or should I? HELP. I need info if a BK shows on your credit for 10 years but you can file every 8, will I have 2 BK’s show up. How bad is my credit?

Technorati Tags: 10 years, bk

I’m 27 and started a business when I was 20. I was making over 0,000 per year when I became sick. I lost my business and owe just over 0,000 to creditors for loans that were made to the business which I personally guaranteed. Because of my illness I haven’t worked in over 4 years and haven’t paid any of my creditors either. I’ve lost my house and my car (live with a family member), my credit is terrible and all I have left is ,000 in cash. Should I try and work out a payment plan to my creditors and get a job? Or should I file bankruptcy and just start fresh (I hate the idea of being ruined for the next 10 years) I’m also considering starting another business with the money I have but am not sure how to handle my debt problem first. The first business I started with only ,000 so I have enough money to start a business and don’t need any more capital or credit to do it. Please serious advice only. Thank you.

Technorati Tags: 10 years, creditors, debt problem, family member, job, loans, money to start a business, should I file bankruptcy

My nephew is a young guy who has K in debt – student loans, credit cards. They’ve went to collections and he wants to file for bankruptcy. He has a stable job, makes decent money but is tired of the collector calls.

I told him declaring bankruptcy would only makes things worse for 7-10 years and beyond, but he wants to throw in the towel because of the collector phone calls. I told him that it IS possible to negotiate with them but he doesn’t believe me.

How can I talk him out of filing bankruptcy?

Technorati Tags: 10 years, collections, credit cards, decent money, declaring bankruptcy, filing bankruptcy, nephew, stable job, student loans

I think I owe about 20,000 in I have 4 credit cards, 1 repo, 2 broken leases, and utility bills oh and 1 cell phone, but I have heard that paying old debts can still lower my score more than what it already is, I dont want to file for bankruptcy but if I dont where am I going to get 20,000 dollars? It all started when I turned 18 I am 25 now. Is it true that after 7-10 years they just fall off your credit should I pay, file bankruptcy or let it fall off, if thats true? My god mother filed for bankruptcy and was able to rebuild her credit but with my luck I wont be able to do anything I want a fresh start and I want to fix my credit does anyone have advise I obviously dont have alot of money please help.

Technorati Tags: 10 years, bankruptcy, cell phone, credit cards, debts, fresh start, god mother, leases, money, repo, score, utility bills

H.R. 1106 has a clause allowing one to put their primary residence into a bankruptcy, therefore lowering the monthly payment to an affordable one. At this time the wealthy can put a vacation home, boat and airplane into a bankruptcy.
I am 71 years old diabetic with congestive heart failure. I have lived in my home for 36 years. 10 years ago I went to my bank asking for a business loan. The banker suggested I take the equity out of my home and and change my loan to an adjustable loan. For the first 3 years it was fine. However my business failed and I’m on social insecurity. I have emptied my savings, sold my furniture and jewelry to pay the ever increasing mortgage. My monthly income is 3.00 a month and my mortgage now is 23.00 per month. If I cannot get help from the courts, my only other alternative is suicide.
To the best of my knowledge H.R. 1106 was passed by the senate and sent to the congress last week and is stil sitting there.

Technorati Tags: 10 years, 3 years, adjustable loan, airplane, bankruptcy, business loan, congestive heart failure, congress, furniture, heart failure, home boat, jewelry, mortgage, senate, social insecurity, suicide, vacation home

Read below.. thoughts?

College is worthless, and the average person has no common sense

Unless you major in law, med, finance, or computers…there really is no point to college.

Heck, even computers you dont really need much education. These hackers who, well, hack…most of them never went to college, they just play with computers all day and theyre SMARTER than the people who work for the government with Masters! The government guys make anti-hacking software, then the hackers always find ways to get through it! So….do you really need college for computers either?

Or law, all you need is common sense to be a lawyer, and most lawyers dont have common sense. The law these days is a joke, a 17 year old guy goes to jail for 10 years for getting head by a 15 year old girl??? Innocent people go to jail all the time, innocent people get executed. Lawyers only defend you because you’re paying them too. If the other guy paid your lawyer double to go against you, he’d do it. And bankruptcy lawyers…do I even need to explain? If you wanna file for bankruptcy, you have no money! So why do they charge you 00 to file?

Business, do you really need a Masters to know how to manage a business, when there are people who barely graduated high school and own their own business? Finance…do you really need a Bachelors to know how to manage money?

So many people are going to graduate college, forget everything they learned, and decide to change their career paths. So many people opt to go to graduate school, get their masters, PhD….for what? When you graduate, you’re gonna have so much money in college debt to payoff, and unless you majored in law, med, or computers, u probably wont make anywhere near enough to pay it off. You’ll end up working 9-5, Monday through Friday sitting at a desk all day, and then go home and be to stressed to do anything. And on Fridays, you’ll get drunk off your ass because that’s all you know how to do.

Look at the amount of people being laid off. 3 million were laid off last year, and of those 3 million, i guarantee at least half had college degrees, maybe Masters, PhDs. NOW those people are fighting to work at places like mcdonalds. Theres no such thing as job security, NO SUCH THING. Within 20 years, when all these immigrants who cant speak English, start to speak better english, theyll take your jobs. Those people work 100x as hard as you do, and will do YOUR job for HALF of what you make, AND be 100x more productive.

The majority of these jobs, all you need is a month of on-the-job training, and you’re set. These hispanics who cant even speak English, go and cut someones lawn and make 30 dollars for the 45 minutes it takes them to cut it. Meanwhile, you’re making 25 an hour to sit at a computer wearing a suit and tie for 40-60 hours a week.

In this economy…you all think its BAD to live at home??? Quit dissing people who live at home, theyre SAVING their money.

Companies want you to think they wont hire you unless you go to college and study a bunch of courses you’ll never need. Sara graduated with a 99%, and Joe graduated with a 72%, and they both got the same degree, whats the difference? No employer is ever going to ask for your grades, and they also wont ever call your college to make sure you graduated. Ive seen ads for jobs that a monkey could do, and the company says "must have a BA in…", and im like "why?!…a monkey could do that!". They think that by going to college, you become a better all around person…when in reality, you probably become an alcoholic and party slut or party jerk. My cousin is married to a girl with a Doctorate, and shes had 6 reckless driving tickets in the past 7 years, and all she talks about is how her and her lawyer friends get together and get smashed…..wow, smart people.

You the employees are much more superior than your bosses. Theres 2-3 bosses, and 4000 employees, so who do you think would win in an argument? If you want a pay raise and you’re sick of kissing ass, simply STOP WORKING and go on strike til you’re CEO decides to give you a pay raise. Why is it that airline pilots, lawyers, doctors all go on strike to get higher pay raises (yet they make ENOUGH), yet the people who make shit money, never go on strike? Continue kissing ass, hating your job, and not standing up for yourself and i promise you, you’ll suffer for life. EVERYWHERE i go, 80% of people HATE their jobs and job life. Thats sad. Ok actually, they LOVE their jobs…when its 5pm and theyre ready to leave, lol. But when its 6am and they gotta get up, they HATE it. When its payday, they LOVE it. When its the weekend, they LOVE it. But during the work day, they hate it.

Supervisors, bosses, executives, managers, etc…are full of crap. I used to have a job where I worked at 7am, and one time I had to work at 4am. My boss complained that I wasnt doing much and being too quiet and lazy……at 4am. Hmm, I wonder why someone would seem lazy a
at 4am?! I mean, were these bosses born yesterday? ITS 4AM!!

One thing thats pathetic about employers, is they expect hard work for little pay. In high school I made .50 an hour at UPS, .50 an hour at an ice cream shop. I also made an hour at a grocery store, and all 3 jobs expected me to work like a dog. ….for how much per hour? No, you get what you pay for! If you want an HVAC technician to come install a new system in your house, and he offers to do it for 0, you WONT get a good system. Same goes with people. You DO NOT pay someone .50 an hour and expect hard work. YOU.GET.WHAT.YOU.PAY.FOR. Another thing thats funny is, companies expect you to give them 2 weeks notice before you quit…YET, if they fire you, they dont give you ANY notice, and your finances will be ruined. If you just leave, they’ll replace you in a day.

You wanna know why so many of you work too much? Because you’re materialistic. You have to have the top of the line car, the best apartment, you part
you party constantly, you gotta have the best HDTV, or spend 9 dollars on a drink….wtf?!

Book smarts will only take you so far. Street smarts is what you need to survive life. And common sense. Most people ive learned, have none of that.

All a degree says is, you went to college and took courses you’ll never need, and spent the money which youll now need to pay back…and ur job doesnt pay enough to let you pay it off comfortably. (Especially if you go to GW and pay 65K a year). Go look up online, the best doctors and lawyers in this country, they didnt go to Harvard, Yale, or Princeton.

Companies dont lay off workers because theyre losing money, they lay off workers because the CEO is making 2 million instead of 20 million, and that makes him sad.

Technorati Tags: 10 years, average person, bachelors, bankruptcy lawyers, business finance, career paths, college debt, common sense, fridays, hackers, hacking software, heck, how to manage a business, how to manage money, joke, lawyer, masters, monday through friday, old girl, own business

It would omit everything except for my student loans. This would be wonderful. I have what I need to get me by for the next 10 years. What do you think?

Technorati Tags: 10 years, student loans

So I am only 23 and a family memeber ruined my credit. She opened up bank accounts in my name , bills, apartments … etc, stole my check book and wrote 14 bad checks in one day…. used my name and social for doc. visits and precriptions. She just admitted this to me and she started all this when I was only 17 18 years old. Ther are things on my credit that are mine, but not enough to ruin my credit. I think I may have to file bankruptcy. I was told that it will not show on your credit after 7 to 10 years. I mean since I can’t do anything now because of my credit, and the bankruptcy will go away in that amount of time, then by the time I am 33?? or so It will be gone and I can start from there. I feel like this is my only option, but it seems to good to be true to just wipe out all my credit with bankruptcy and then be able to start all over in ten years??Is this true, how does bankruptcy work ? How do I go about checking my credit if I don’t have a cc to do it online? I have went to freecreditreport.com and freetriplescore.com and they are just a scam cause you still have to put a cc down… so how can I look and see exactly what I have on my credit?

Technorati Tags: 10 years, 18 years, amount of time, apartments, bad checks, bank accounts, bankruptcy, check book

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

I am about ,000 or so in debt right now. ,000 of it is from medical bills from an emergency surgery I had to have (I had insurance to cover the surgery but they only paid 10% and now I’m stuck with the medical bills from it and NO way to pay them). I’m working full time but am currently switching to part time because I just recently had a baby and need to be able to stay home some of the time with him to cut costs on babysitting. I don’t care tht the bankruptcy will be on my credit for 10 years….it will take me that long to pay off the medical bills at the rate I can afford to pay them now…I also have diabetes and my prescriptions cost a TON a month…it’s impossible for me to work part time (or even full time for that matter) and even survive at this rate. I need to get an apartment for my son and I and just can’t do it with the amount of bills I owe. Is there a minimum amount of money you must owe before filing bankruptcy? Will I be able to keep my car?
I have one of the cheapest cars you can buy (Chevy Cavalier) and it is 2002. Someone suggested I sell it and get a crappy car for now…I can NOT do that. I must have a solid, secure car to make sure I have a way to and from work and also to have transportation to my son’s docs appintments. I need to keep my current car and my interest rate on my loan is locked and VERY low (3.4%). This car is great…but if I file bankruptcy will I lose it?
I don’t WANT to send my son to a childcare center. They are dirty and nasty. His father and myself will be watching him. And I AM working full time right now thank you. I can NOT afford the debt I owe either way….

Technorati Tags: 10 years, amount of money, apartment, cars, chevy cavalier, childcare center, crappy car, diabetes, docs, emergency surgery, filing bankruptcy, full time, i don t care, insurance, interest rate, medical bills, part time, prescriptions

Hi, I lived in America for about 10 years. During that time I accumulated some credit card debt. Now, I live overseas. Can I file for Bankruptcy? If not what alternatives do I have.

Technorati Tags: 10 years, bankruptcy, credit card debt

I don’t want my credit ruined because my soon to be ex spouse is filing bankruptcy now. Divorce has been going on almost 3 years now, I want to stop him from filing on the house or anything else with my name on it, so I won’t be scarred for the next 10 years. The mortgage and home is in both of our names, but that’s about all, maybe one or two credit cards, but mostly the home. Anybody got good solid sugguestions?
I have already talked to an attorney, and get nothing but the run around. He won’t sign a quit claim deed, and cares nothing about the house. The attorney’s here are in a very tight knit circle where everyone knows everyone and has worked with them at one point in time. I don’t want my credit with a Bankruptcy lable on it because the ex is an idiot. The divorce has taken almost 3 years because he keeps putting it off. My parents are willing to support the children and myself, but he thinks he should get a cut in it. Just because they are well off, doesn’t mean I am. Any advice??

Technorati Tags: 10 years, 3 years, claim deed, credit cards, divorce, filing bankruptcy, lable, mortgage, parents, point in time

I am excellent at defending myself in court. I need to file bankruptcy to clear off a couple of 20-year old student loans and some credit card debt if I or my fiancee ever want to get any income tax refunded or receive any stimulus money. Without bankruptcy, we’ll never receive a dime back from the government and will also never get the debt paid off, at our advanced ages. Are there forms available anywhere which I can use to file with? I live in Texas.
FYI, when one does not pay a guaranteed student loan, the balance is taken out of every refund the federal government issues to you, i.e. your income tax returns, your spouses income tax returns, and any stimulus payments. This has been happening to me for the past few years. Instead of last year’s stimulus check, I received a notice from the IRS saying mine had been sent to a loan company. In Texas, once a student loan is more than…I’d have to look it up again, say 5 or 10 years, it is considered an undue hardship and does qualify for bankruptcy. Mine is 20+ years old.

Technorati Tags: 10 years, bankruptcy, credit card debt, federal government issues, fiancee, fyi, guaranteed student loan, income tax returns, irs, loan company, money, stimulus, student loans, undue hardship

The mortgage is in good standing but its not reporting to the credit agencies. If I have proof of payments to the mortgage company is it necessary to try and get added to the credit reports by reopening the case and filing the reaffirmation? My credit is already shot for 7-10 years because of the BK.

Technorati Tags: 10 years, bk, credit agencies, credit reports, mortgage company, proof, reaffirmation

I can’t take time off work and need it done quick, yet not a scam.
Its been a long time coming and it just has to be done. If there is a reputable online company, or a company in san jose california that works around my schedule. I make ok money but am just sick of my past….its been 10 years since i even used those cards!!! Help?? Thanks in advance

Technorati Tags: 10 years, cards, long time, ok money, san jose california, thanks in advance, time off

I have 6 credit cards and all but one have been charged off. I also have a couple things in collections and some medical bills.
I was told that charge-off’s stay on your credit for 7 years (even if you pay them off) and bankruptcy stays on your for 7-10 years.
I don’t make that much and I’m sure it would take me over 3 years to actually pay them all off.
So I was thinking about filing bankruptcy?
Would it be better to pay off the debt or file bankruptcy?

Technorati Tags: 10 years, 3 years, collections, credit cards, filing bankruptcy, medical bills

My sister has been dealing with the IRS for a while and she was recently told by a friend of hers that she could file Chapter 13 Bankruptcy to get all her bills organized and establish a payment that would help her meet her obligations and keep her house. My understanding is that once you file Bankruptcy you can not do it again for 10 years. I could be wrong though -

Technorati Tags: 10 years, chapter 13 bankruptcy, irs

I was thinking about this the other day, I used to work in collections and couldnt figure it out. It takes what 7-10 years for bankruptcy to age of your credit, the normal statute of limitations is (in my state) 6 years for credit card debt and 10 years for car notes and such. Why would someone file bankruptcy when it costs so much when they can wait it out? Also if the debtor gets a judgement against them does the creditor always put a body attachment out like they do in small claims personal suits?
Thanks

Technorati Tags: 10 years, 6 years, bankruptcy, car notes, collections, credit card debt, creditor, debtor, judgement, personal suits, small claims, statute of limitations