If you file bankruptcy do they go into your 401k or do you get to keep it? I am trying to look at all options if my husband and I do end up getting a divorce. There is no way we can pay off all our debt and he wants to file if we cant take the 401k out to pay off our debt. I just want to be done with him honestly. the only reason we are together is the kids and money and now the kids are suffering too much from our fighting but I can’t afford to live on my own and pay all the bills we have now. I know I will suffer for years with my credit score which is really good right now but I can’t suffer with him anymore.

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I defaulted on approximately 0K worth of debt in 2006 which has obviously affected my credit score. I now have a very good job with 0K in household income. Additionally, I have K in cash as well as K in a 401K. I’m very stable – have been with my current employer for 5 years a mid level manager.

The poor credit will ‘fall off’ my credit report in three years. I have an opportunity to purchase the home I am leasing for approximately 0K.

Are there any legitimate lenders that will lend to someone with good income, employment and assets but a poor credit score? FHA will not consider me due to the outstanding ‘debt’ associated with the charged off accounts from 2006. Yes, I did attempt to file for bankruptcy, but got taken by an unethical attorney. I’m not interested in credit repair scams to allegedly ‘improve my score’.

I know there must be others in my position with everything except for the credit aspect. Therefore, I’m guessing there must be an alternative market to fill that niche.

Am I correct or am I way off base?

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I have been placed on SS Disability and cannot afford my mortgage. I would like to move south. If I pull my 401k I can get a house real cheap. Then I would like to file bankruptcy on my house here. I would not like to be homeless for a few months. I still have decent credit for now but the funds are going to start dropping quick. Anyone have Ideas on how to do this?

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When I file bankruptcy, will I be able to keep my home and car? Will I lose my 401k?

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I lost my job in early September and have run into some serious financial problems. I have a part time job and I should be receiving unemployment but they denied me at first and I have to wait for a hearing to appeal that decision, and they are super backed up and I will not even find out when my hearing is for another four weeks. I took out a distribution from my 401k, went through that, and they are taking their sweet time getting another distribution sent out to me. None of my accounts have been sent to collections yet, but they are almost there. I am considering bankruptcy or using one of those companies that negotiates better interest rates with my creditors and gets them to reduce my debt by up to 40%. I want to know which route I will recover from quicker. I eventually want to buy a house, take out student loans, etc. I keep hearing that bankruptcy is not as bad as it has been made out to be, and I have heard nothing about how debt settlement programs effect your credit. Does anyone have any advice?

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It’s a matter of pay now or pay letter. Republicans are all for lower taxes and smaller government except when their greed gets them in financial trouble.

Here is the issue that you are dealing with… Since the Stock Market collapse of 1929 a system of checks and balances was instituted as the economy grew to keep greed in check. However, after Ronald Reagan took office and developed the theory of Trickle Down economics, They began to chip away at several levels of checks and balances. One of the first levels that they attacked were the Unions. Unions offered a level that reported abuses in the labor market. Second was deregulation where they actually removed regulation by allowing business to move off shore where inspection and over sight where non-existent… then they moved to gut the budgets of regulatory agencies that were left, to stop over-site. Usury laws were thrown to the wind and bankruptcy laws were changed to protect the rich. (Look up Usury Laws)

Example: There are only 8 inspectors for all the livestock sold for food in California. Providing 30 percent of all the meat eaten in the United States and exported.

The result is that you have lead painted toys for your children to play with, food is polluted with chemicals and Salmonella and Wall Street Collapses in a heap and your 401K falls through the floor while Oil prices shoot threw the roof because they changed the rules to allow speculation in the Oil market and fought alternative energy. All the while the Republicans keep claiming your taxes are to high and the reason is it’s Ear Marks were causing it which equal less than 1 percent of the US budget .

We need to start thinking smarter and get back to enforcement of good sound banking rules and reduce greed out of the equation. We need over sight at all levels of both government and business. We need to pay those taxes necessary to enforce regulation and stop investing billions in "Wars to No Where". Think where we would have been financially if we had not swallowed "Georges War to No
Where" based on a lie.

Wake up America!!! Obama for President

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I am a single mom, own a house, my son’s father is not paying a penny, and I just lost my job. Obviously, I can’t afford to paying my mortgage any more. So what can I keep when I file bankruptcy in CA? I have some 401k, a car, 30K of credit card debts, and student loan, no savings…

Technorati Tags: 30k, 401k, bankruptcy, credit card debts, job, mortgage, single mom, student loan