I have a relative ("Lou") who is in debt. Lou is in his early 30’s. The debt is more than K. Lou seems depressed, and I believe spends (restaurants, clothes, etc) as an escape from real life. In the past, the family has repaid Lou’s debt without conditions, but every time more debt appears later. This time, the family offered to refinance the debt only if Lou hews to a budget. Lou is resisting the budget since it imposes controls that any adult might resist. Plus, Lou is worried about his life being in too much flux and not being able to guarantee he can live within the budget. The only alternative is for Lou to default on his debt. We don’t really want that because of the long-term implications of bankruptcy. We also worry about pushing Lou "over the edge". There is no drinking or drug problem. There may be a gambling problem. What do we do? Lou refuses to go to counseling.

Technorati Tags: adult, bankruptcy, budget, clothes, counseling, drug problem, gambling problem, quot, restaurants, term implications

My wife is filing for bankruptcy and one of our creditor’s is Kay Jewelers. We bought our wedding rings through them back in 2008. We received a letter in the mail today saying that they may have a non-dischargeability cause of action against us if we don’t turn our rings over, which we really don’t want to have to do. I know that it seems like the sensible thing to do and we can’t really afford to pay off the debt. Is there any alternative to giving the rings back or paying the debt?
Thank you all for answering so quickly. First, I am not on any of her loans/ debts so it wasn’t really advisable that I file as well. The only thing I have in my name is my student loans and our car (which the person who helped us file our paperwork said we wouldn’t need to worry about since the title is in my name). With that said, while we were filling out our paperwork, there is a section that you get to put items that you would like to have exempt from the bankruptcy i.e. jewelry, clothes, electonics… and you’re allowed up to a certain value for each item. Our rings fell way below the limit so we were told that we could keep them. Lastly, and unfortunately, it was a secured loan so they are saying that the rings are collateral and they have the right to either take them back or have us pay it back.

Technorati Tags: clothes, collateral, creditor, debts, electonics, filing for bankruptcy, jewelry, kay jewelers, letter in the mail, paperwork, secured loan, student loans, wedding rings

Considering filing bankruptcy. Attorney gave me a paper to fill out stating evey thing we own. Right down to pets, and clothes. I did some research and found our state allows up to ,500 in house items to be exempt along with animals. I do not understand how they can even get by with asking you to list your pets as part of what you own, or your personal clothes. I may see such if you were raising animals for resell, or if you had real expensive clothing, or a movie star who some one else may want to say they own a piece of such and such clothing etc. But if this were the case those people would not be considering bankruptcy in the first place. As for the house items who makes the decisions as to what is exempt and what is not. I know my house items will not exceed the allotment in our state, but still I am curious about such.

Technorati Tags: allotment, bankruptcy attorney, clothes, decisions, filing bankruptcy, movie star, pets, raising animals

My wife is under Chapter 13 in her name, and files taxes for only herself. I’m a stay at home dad. Anyways, we have so much to do with our tax returns such as get clothes for our kids, pay on some utility bills, home improvement things..etc. When she files her taxes, will it all go to bankruptcy or will she get the full amount she should receive? The bankruptcy payment has been getting garnished out of her check weekly, and we are not behind in that……just hate to know they will take it all when we have some important things to do with that extra money. Please explain this to me!! Thank you!

Technorati Tags: bankruptcy, chapter 13, clothes, extra money, home improvement, important things, stay at home, stay at home dad, tax returns, utility bills

Like most Americans, I’m in debt. I’m a student with a part-time job and I’ve sunk into some pretty nasty debts. I have medical bills to take care of, as well as other other stuff. I’ve read a bit about debt consolidation and lots of sources say it’s pretty much a scam (you’re not eliminating the debt, you’re just moving it). I don’t think bankruptcy is a good idea.

What can a college student (undergrad) do to eliminate 00+ debt? Are there loan programs that just give you money and a few years before you have to start repaying it? Are there other alternatives?
I’ve decreased personal expenses to pretty much nonexistant. I don’t really buy clothes and food and such and all of my expenses are either medical bills, textbooks, or a monthly laptop payment.

Technorati Tags: bankruptcy, clothes, debt consolidation, debts, laptop, loan programs, medical bills, money, part time job, personal expenses, textbooks

Here is my story.
I am a 27 year old married mom of 2. Hubby is bipolar and can’t work. I have a few medical ailments that prevent me from working much outside of the home.
We have about ,000 of debt. Counsumer credit card, past utilities, medical expenses, etc.

We WANT to pay them off. Our problem is we don’t know if we should work with a debt consildation program or simple file for bankruptcy. Our income fluxuates from 0 a month to 00. We live in Ohio. Our rent is 5.00. We have no car payments. We own a 1982,1992,1993) We never go out to eat, go to movies, I am wearing the same clothes from when I was 18. Trust me, there is no way to cut back on anything.
I am just not sure if we can even afford to come up with a debt consilidation plan given our situation and income limits. Would it be better both emotionally and financially to just wipe the slate clean? Thoughts/Tips/Appreciated…stinky butts need not answer! THANKS!

Technorati Tags: bankruptcy, bipolar, butts, car payments, clothes, credit card, debt consildation, debt consilidation, fluxuates, hubby, medical ailments, medical expenses, mom, stinky

i had a tv and a ps3 from bestbuy. but now im going to file for bankruptcy, will best buy come to my house looking for the stuff even though i dont have it because i sold it for clothes and food. are the police gonna come knocking on my door with a search warrant to check my house to really determine if i have the stuff or not.?

Technorati Tags: bankruptcy, best buy, bestbuy, clothes, ps3, search warrant

I have a relative ("Lou") who is in debt. Lou is in his early 30’s. The debt is more than K. Lou seems depressed, and I believe spends (restaurants, clothes, etc) as an escape from real life. In the past, the family has repaid Lou’s debt without conditions, but every time more debt appears later. This time, the family offered to refinance the debt only if Lou hews to a budget. Lou is resisting the budget since it imposes controls that any adult might resist. Plus, Lou is worried about his life being in too much flux and not being able to guarantee he can live within the budget. The only alternative is for Lou to default on his debt. We don’t really want that because of the long-term implications of bankruptcy. We also worry about pushing Lou "over the edge". There is no drinking or drug problem. There may be a gambling problem. What do we do? Lou refuses to go to counseling.

Technorati Tags: adult, bankruptcy, budget, clothes, counseling, drug problem, gambling problem, quot, restaurants, term implications

ok so i looked on my credit report and i seen that i have alot of debt heres what i owe
30,000 in hospital bills when i had my daughter
700 in cc debt not that bad
3,000 for a repo car
2,000 in other debts
so i owe a little over 35,000
and i dont have a job i`ve been looking for ANY job even fastfood jobs but nobody is hiring
my husband makes only 1,500 a mo
all of our bills come up to about 1,200 a mo thats without car gas and food so that only leaves us about 300 for food and gas !
i really want to pay off my debts but i cant and they keep going up should i file bankruptcy and what would that do to my credit does it ever go off my credit

we live in a kinda small town not to meny jobs i put a profile up on care.com and sittercity.com my husband did have a second job for about 5 mos but got fired because it was slow we thought about moving but we dont have the money to move and we have cell phones no land line we just we only pay about 60 a mo for cable and internet i`ve been useing the inter net to try and find jobs out of town so i dont want to get rid of my internet
we never get to spend money on clothes forour selfs we do for our daughter we dont go out to eat we always eat at home which gets boring
i even beged for my old job back at walmart were i worked for 3 yrs

Technorati Tags: car gas, cell phones, clothes, credit report, debts, gas and food, hospital bills, jobs, money, old job, second job, selfs, should I file bankruptcy, walmart

I have about ,000 in credit card debt. I don’t have any income or assets of any kind (unless you count clothes–I’m living with my parents and borrow their car if I need to). The credit cards have been slowly going into default ever since I lost my job two years ago and now I haven’t been able to make any kind of payments for about 9mos, so they’ve all gone into collection. I won’t be working again for at least a year or two. I’m sick of all the harassment from the CC companies, and also am concerned about them taking all the money I make when I’m eventually able to return to work.

But I’m concerned because a) I can’t make payments of any kind on a bankruptcy settlement and b) I could only afford maybe a few hundred dollars for lawyer fees and everything.

Should I file for bankruptcy or just ignore the debt? Will they take all the money I make when I’m finally able to return to work if I don’t declare bankruptcy?

Technorati Tags: assets, clothes, credit card debt, credit cards, harassment, job, lawyer fees, money, parents, should i file for bankruptcy

Hi, My hubby and I are struggling to pay our bills and we are 27,000.00 in unsecure debt. I am thinking about filing bankruptcy because Ive had these credit card balances for over 5 years and nothing is getting paid down and as a matter of fact the balances are getting higher. I am struggling so much and all I do is eat ham sandiwches everyday for lunch and take hammy down clothes and live in a old trailer. I’ve reached the end of my ropes today when I had to go to a mechanic shop they wouldn’t let me leave b/c my tires were splitting apart and I had to end up owing the mechanic shop for tires. So which should I do, my credit is already screwed so I’m thinking bankruptcy

Technorati Tags: clothes, credit card balances, filing bankruptcy, hammy, hubby, lunch, matter of fact, mechanic shop, ropes, tires

I am using credit cards to buy food and clothes, nothing lavish or fancy. If I decide to file bankruptcy do I have to stop using credit cards for a while or not? Also, when do I need to stop paying bills?
Thanks.

Technorati Tags: bankruptcy, clothes, using credit cards

A relative is thinking of filing Chapter 7 bankruptcy. I have read in many sources that the government may sell some of your belongings in this case. I was wondering (from people who know, not from people whom are just guessing) how that process goes down?

If you have been through this before, it would be most appreciated if you noted whether it was before or after they reformed the bankruptcy laws a few years ago.
Okay, so what does or does not have to be listed? For example, does my Uncle’s Toothbrush have to be listed? What about his electric razor? His clothes? His clock radio? Looking around, he has a few things of value (such as a nice stereo) that they would obviously want to know about, but does he have to inventory EVERYTHING in his house?

Technorati Tags: bankruptcy laws, belongings, chapter 7 bankruptcy, clock radio, clothes, electric razor, filing chapter 7, filing chapter 7 bankruptcy, toothbrush