What would happen if the US govt went bankrupt? How would that affect the typical American?
I’m an American very concerned about this. What would happen to me should the govt go bankrupt?
Is bankruptcy possible under current circumstances?
Posts Tagged ‘circumstances’
I have 20K in the bank but it is not enough to clear my debt. Can I file bankruptcy Chapter 7?
I own a home in which I am willing giving up due to my circumstances. I became deaf. Since then, I have been unable to find a job. I have been living off of unemployment which is not enough to pay my mortgage. When I tried to send partial payments, they returned my payments. I was given a forbearance but that did not waive the amount I was behind which is over 12 months now. My unemployment is running out and though I am capable to continue to work in my field with reasonable accommodations, or even outside my field, I am not getting any job offers.
I have 20K to use towards prepayment for rent, food, etc, for a little while….to help by more time for me to search and find a job.
I have a few credit cards, one is up to date on the payments, several medical bills, student loans, unemployment payments that I need to repay in a different state, about 00. Back when my credit was good, I was a victim of identity theft which is why internet accounts, credit cards and wireless phone accounts were opened in my name. I tried disputing the items that were not mine but only 1 thing was removed.
Will Chapter 7 Bankruptcy help me? Will they try to take the little money that I have to live off of. I also have 3 paid off vehicles.
I AM NOT YELLING. JUST WANT TO MAKE THIS MORE CLEAR FOR ALL TO READ. I DO NOT HAVE A JOB, I DO NOT HAVE MONEY TO MAKE MONTHLY PAYMENTS ON ANYTHING RIGHT NOW SO CONSOLIDATION IS OUT THE QUESTION. GETTING SIDE LOANS IS OUT THE QUESTION. NO NEED TO SUGGEST SUCH. THANKS.
Car accident with no insurance, over $45,000 in debt, what should I do?
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.
When a car dealer advertises "We finance everyone" what can one expect if they have filed bankruptcy?
My friend filed recently and we are going car shopping tomorrow. Naturally we will have to look where she might be able to get a loan. Please, keep moralizing to yourself. You have know idea about the circumstances. Thanks for your help.
When to file to better ensure you keep your tax return?
My husband and I realize the only way out is Chapter 7. We have struggled to pay off our debt, but due to circumstances we just got more and more behind on necessities for our family of 4, not to mention my husband also has a son he pays child support on. We are well below the median income level for our family size and desperately need our tax return to get caught up on needs for our family and home (clothes, car repairs, minor home repairs etc,) and also ensure we don’t get behind again in case of an emergency (like pay an extra 2 months worth of rent or pay extra on utilities etc.) We aren’t trying to cheat or lie about our tax return when we file bankruptcy, nor are we planning on using it for anything other then needs of our family with the exception of maybe a couple hundred to take our kids to a large aquarium they have been dying to go to. We will likely get our tax return at the end of next month and wonder how long we should wait if possible to file for Chapter 7? We are speaking with an attorney, but this isn’t exactly something they will tell you about and so forth. We are in California.
Oh, we know about counseling, but we very much doubt they would NOT think we don’t have to file, more like they will wonder why we waited this long.
Refinancing Mortage during Bankruptcy…?
I’ll make this quick. Do to some circumstances my wife and I fell behind on our mortgage. Our lender is countrywide. We have a 100% financed sub-prime loan with an 80/20 ARM and prepayment penalty. (A piece of trash loan I know, we know better now) Also there is another Lender…Franklin Credit which makes up the 20…We filed for bankruptcy in 2006 and have been making payments for two years now…due to the economy and a few unfortunate illnesses we were not able to stay current on our chapter 13 payments…so there was a motion filed by our trustee to close the bankruptcy unless we could become current by a certain time…..
When we contacted our lawyer he told us that we had three options…
1.bring the payments current(9,000.00) of course we don’t have that…
2.Let the bankruptcy go and hang on until foreclosure on our house starts then try to start another chapter 13….
3.Modify our current bankruptcy and pay them a fee to file this motion…go get chastised by a judge…and make our payments higher.
Oh I guess there were four options…4.convert to chapter 7….
At the time the bankruptcy was initiated there were no problems in making the payments….but then the bottom fell out…I am in transportation….my overtime was cut to 0….my wife has had a significant reduction in hours and I had a surgery that kept me out of work for two months…all of this has led to the fall behind…..
Ok so I have two questions relating to this situation…..
1. Can/Should I try to refinance the loans during the bankruptcy…The mortgage payments are made through the trustee….but we still get statements from countrywide….our current statement is 3000.00 a month UNBELIEVABLE…..If we can’t refinance there is no way we can afford this ridiculous arm after the bankruptcy…
2.Will president Obamas new plan help us during bankruptcy…we don’t know what to do…stay here pumping money into bk13 that was primarily done to save our home that we may not be able to keep after the bk….or convert to chapter 7…let it all go…uproot our family and start over…or possibly get some help from Obamas new plan.
We need guidance…we are good people with good jobs…good family…and good morals…we were admittantly irresponsible in money management…we own our part and we have drastically changed our lifestyle….but we were also taken advantage of as first time homebuyers so we want them to own thier part as well….
Please anyone who can give advice on my situtaion would be greatly appreciated…please don’t soilicit us…we are in trouble…our family is in trouble as many others…we need good soild,honest advice to get back on track…..Thank You.
If I make more than the median income in my area, how do I know if I will qualify for chapter 7 bankruptcy?
I am confused about how the means test works for a chapter 7 bankruptcy. I make more than the median income in my area, however my debts are pretty large. My last 6 month’s income was about 29K, but my fixed monthly debts are around 4K. That is before food, gas, and all the other random expenses. In the past, I was making well above and beyond my monthly liabilities…but that number has gone down significantly due to circumstances out of my control. I am looking to file chapter 7 bankruptcy and have not been able to find helpful answers online so far. I am out of money and not able to pay my bills. Any help would be much appreciated!!!
How to file bankruptcy for student loans?
I have heard it can be done and want to know how it can be done and under what circumstances as I know it’s difficult. I ask because I have over 100k in loans and have been unable to get a job that pays over 30k, and my payments are to be over 1,000 per month and I only make 1,600 per month.
What can a credit card company actually do when they turn your case over to a lawyer?
I am deliquent on 7 cards for 3 months but only one card has been calling me since the payment was 2 days late. They have called me from 8 am till 10 pm, monday thru sunday. I have written to them and even sent small payments at first but have stopped that since I can’t afford it and it made no difference to them. Their law firm called me a few minutes ago (yes on a sunday morning). I have no money to pay them anything and am a couple months away from not even being able to pay rent, so the credit card bill is last on my list. I live in a cheap apartment in a bad area, walk or take the bus (have no car), nothing valuable and no money in the bank except when pay small paycheck goes in (I make about 700 month after taxes and also have a child to feed. I wanted to file bankruptcy but cannot find anyone in this state (Texas) that offers free legal aid. If I was a violent criminal, I could get an attorney, but for bankruptcy, no one will help. I was stable for 14 years.
circumstances changed for me last year and my world fell apart. If I do ever get to file bankruptcy, can it remove a judgement from a card company if they got one on me? I have no disposable income so I don’t know what they could really get.
Where is Texas can you get free bankruptcy assistance?
I have large debts and a very low income (due to various things that have went wrong in my life in the past year) and I have no money to file bankruptcy. I hear it costs 500 dollars which is what my rent costs and I have to choose rent over legal fees. I have nothing to sell to make money and work a job with a different schedule every week and also a very strict emloyer who goes on firing sprees all the time. It is not a bad job in the sense that I do make more than minimum wage so I can’t afford to lose it. I have limited transportation which limits where I can get to as many businesses in my city are in areas with no bus service and I can’t take off or be late for work under any circumstances. Is there any place to get free assistance and that useless credit counseling thing that is required? I know it is required although I do not believe in conselours of any type.
How do I file a personal bankruptcy in San Diego Ca. without a lawyer?
I need to file bankruptcy quickly. I have no money, crediit card debt, medical debts, also a vehicle repo. The circumstances are extenuating, I was unable to work for seven months, my wife left me and I’m living on a boat. I do have employment but far behind on all bills at this time.