Car accident with no insurance, over ,000 in debt, what should I do?
I was leasing an ‘07 BMW and back in November of 2008 I was in a car accident a few days after my insurance ran out. I paid for my insurance up front the last time for a year, therefore because of some circumstances, I was unaware that it ran out when it did. Not saying it wasn’t my fault, but that’s the truth.
Anyway, like I said I was in an accident and it was MY fault. The other guy had a Saab and the damages to his car were about ,000. The damages to my car were about the same. Bmw has sent me a couple letters, but I haven’t spoken to them yet. I made a plan with the other guy’s insurance lawyers to pay them like 0 a month for the next twenty-some-odd years! I am definitely not in the same financial situation that I used to be in (it’s a long story). I’m basically broke. I want to know if anyone has any advice as far as filing for bankruptcy goes? Can I even file for bankruptcy under something like this? Or will I completely lose my license? Or do I have some other option to lower something? I am unemployed and have no assets. I am only 22. Someone please help me with some advice! I was stupid, I want to change, thank you for not judging me and giving some positive advice.

Technorati Tags: assets, bmw, car accident, circumstances, couple letters, damages, few days, filing for bankruptcy, financial situation, insurance, insurance lawyers, last time, saab, truth

I bought a BMW Z4 2 months ago. I have yet to make my first payment on it after a downpayment of 1500. i don’t have good credit(low 600) and i have a few charge-offs and i applied for more than several cash advances just to pay my bills and i don’t even remember i owe who and who and i never answer the calls from them or from collections. I figure sooner or later i will either file for bankruptcy or let it row for 7 years. I do have a second car(my mom’s car) that’s paid for and in her name that i use. coz my mom got her own camry(also paid for).

I am wondering if i should just keep driving that Z4 for a few months without paying till they eventually repo it. (to make my downpayment 00 worthwhile) and when they sold it and ask for the difference, my payday loans and others will be over 90 days and i will include everything i owe and file for bankruptcy.

or should i keep paying for it even though i might eventually give up the car anyway after one year? my credit is already pretty damaged(low 600).. what should i do?

P.S. if i do decide to just don’t pay.. i can use the money for my horse-riding lessons and other fun stuff..and get my laptop back from my pawn shop which i will do eventually anyway.
For all before you start judging me(and i know you guys will) i owned a biz at the age of 21 and I used to the luxury of things i had money for… and never care much for credit. since i had enough cash. after the biz ran to the ground, i have been trying to figure out my next biz venture. (i hate to work for ppl).

Technorati Tags: bankruptcy, bmw, bmw z4, camry, cash advances, charge offs, collections, downpayment, fun stuff, horse riding lessons, laptop, mom, money, pawn shop, payday loans, ppl, second car

My wife got in a car accident with a semi truck. Those roaches claimed 68K to their insurance agency. Our insurance only covers 25K. After the fact of what the 25K will pay for we’re getting sue papers for 30K. Can we file bankruptcy now or do we have to go to court first to get the judgment then file bankruptcy? YES YES YES I know how long it will be on our credit and all that but I we could care less. We don’t want to pay for a BMW and not drive one.

Also, all I own is a 1972 chevy truck (not restored, worth 2,500), no house, no savings account.
thanks for all the answers in such a short amount of time. I have an idea of what I was looking for.

Technorati Tags: amount of time, bankruptcy, bmw, car accident, chevy truck, insurance, insurance agency, judgment, roaches, semi truck

I am bankrupt. I have way too much debt and unemployed along with a long term medical condition. I get 50 calls a day by creditors and i speak rudely to collection agency reps saying, "go fk yourself. eat sht and die"

i also will not file any bankruptcy protection because i cannot afford the 00 fee needed for bankruptcy. i have no assets and no home. I live with parents.

i own no car either. My banks have negative balance and i keep all my cash at home in a lock box. So how will this creditor harassment end?

I will not work anywhere until creditors stop harassing me because i don’t want garnish wages.
i drive 2008 bmw registered in dad’s name, but the car is actually my own.

Technorati Tags: assets, bankruptcy protection, banks, bmw, creditor harassment, creditors, dad, garnish wages, medical condition, negative balance, parents