have been laid off for a while. I have a personal loan, phone bills and about four credit cards. All my credit adds up to about 20k. I just got a new job and I am making about 2400 a month. My rent is 600 a month and I have about 200 monthly bills. All my credit went into collection agencies. Does anyone have any advice…Its not so easy just to pay it off because of my other expenses and settlements usually require 2 or 3 payments to pay off the whole debt. My loan alone was 8 thousand dollars. I want to pay all this off. Can you please give me advice how to pay it all off and than gradualy how can i rebuild my credit. Another option is bankruptcy…I live in New York. If I do bankruptcy, how bad would that affect my future. Also, would it affect me inheriting a house? Would it be a good option? I know it stays on my credit report for 10 years but can i still build credit after filing bankruptcy and how soon? thanks.

Technorati Tags: 10 years, collection agencies, credit cards, credit report, filing bankruptcy, new job, personal loan, phone bills, thousand dollars

I know of a person who fell on some very hard times and now has let 8 months go by without paying on his credit cards. It appears that now some of the cards have written off his loan as bad debt, or have turned the delinquent accounts over to collection agencies. This person is unfortunately still so pennyless (and so in debt- close to ,000 between a handful of credit cards) and he still cannot afford the legal fees to file for bankruptcy. At this point, since he is so delinquent on his credit cards, and his credit is already turned bad after being delinquent for 8 months, is there any reason to file for bankruptcy? He has heard that the bad debt will drop off his credit record after about 7 years, just as one’s record of going bankrupt would. Can anyone validate that this is true? Could there be any advantages for him to go through the bankruptcy process at this point? In other words, what would be the difference in his credit ultimately?

Technorati Tags: bad debt, bankruptcy process, collection agencies, credit cards, delinquent accounts, handful

I am a few payments away with my attorney to file for bankruptcy. I am wondering is there any real way to tell the collection agencies calling that I’m going to file for bankruptcy without having them rush to sue me or anything like that before I officially file? I’m scared if I tell them to not contact me and to only contact my attorney because I am getting ready to file, they’ll race to get further action on me that I won’t be able to stop. Any suggestions??
Yeah thats what I’m scared of…telling them to contact me attorney and then they’ll rush to put in court papers and such. I’m paying my attorney as quickly as I can (on my income haha). I guess my main question is, if I tell them I am filing and to contact my attorney and they decide to sue me to collect before or right at the time I file, will they be able to collect?

Technorati Tags: bankruptcy, collection agencies, court papers

Question about misinformed collection agencies?
After filing personal bankruptcy 13 years ago, my friend got a call about 3 years ago from a collection agency (called NARS) and said that my friend could pay a lower price of over 0 to get rid of the debt she was in. The problem is the store that this agency said this person owed on, was listed on the bankruptcy report and declared as discharged along with all the other credit cards that was on the bankruptcy file. This friend of mine kept telling them this and thought she got her message through, as the phone calls stopped. All she had was the first paper from the file the court gave her and nothing else to prove but heard nothing until about 2 months ago, when the calls started up again. This person has been distraught after her husband passed away (you all know of course that no one cares about that). Anyway the entire bankruptcy file was purchased for and a certified letter that cost over was sent to NARS (National Asset Recovery Services) along with a bill for . They got their verification that the store in question was indeed on the file but of course, she knew they wouldn’t pay up. Keep in mind that someone who is knowledgable said that the collection agency and/or the one who sold this owed money report is required to obtain this bankruptcy file themselves. Here comes the real question I’d like to ask. I was told that whoever sold this person’s records to a collection agency didn’t know this store was on the file (idiots) and they should have purchased the bankruptcy report themselves and so she feels strongly that they (NARS) should pay back/reimburse what she had to pay (to prove that she didn’t owe anyone). The store was called and they said that the agency is the one that wants the money, the store doesn’t have a problem with getting their money back. Would it be in the best interest of my friend to sue to get the money back from purchasing the file which cost and for the certified mail for to make sure that NARS received the copy? Maybe the BBB could be contacted. Or the Attorney General. Living on Widow Benefits doesn’t take in a lot of money and NARS caused stress while my friend was taking care of her dieing husband. Just wondering what would you do? Only serious answers are requested. Thank you for reading and taking time to consider this dilemma.

Technorati Tags: 13 years, 3 years, asset recovery services, best interest, certified mail, collection agencies, credit cards, filing personal bankruptcy, money report, national asset recovery services

I had amassed at least ,000 in credit cards debts because I lost my job and could not find another job for 6 months. Now I am blessed to have a good paying job with a yearly salary of ,000. All of my debts are in collection. I had tried to pay the bank as much as I can but they still sent it to the collection agency when they realized I could not pay on time. Now, I want to be able to borrow money again so I want to fix my credit. I don’t know if I should start settling this with the collection agencies or should I just file for bankruptcy.

Technorati Tags: bankruptcy, collection agencies, credit cards, debts, good paying job, money, yearly salary

I have ,000 credit card debt and i get lot of calls from collection agencies but i never pick up the phone and ignore the answering machine. I also ignore letters from creditors.

I will be filing chapter 7 bankruptcy within one week. Someone told me that if you ignore collection calls and letters, then they automatically pull the money out of your bank account.

So i withdrew all the money i had in my bank and keep cash at home. Am I over-reacting or do they really pull money out of your account electronically if you ignore their calls?

Technorati Tags: answering machine, chapter 7 bankruptcy, collection agencies, credit card debt, creditors, filing chapter 7, filing chapter 7 bankruptcy, money

my ex wife and i have been divorced a lil over 2 years. my credit report is full of medical collections with her name as the patient. When i file my bankruptcy what happens to those debts? Are they wiped out completly or do the collection agencies look to her to satisfy the debts?

Technorati Tags: bankruptcy, collection agencies, credit report, debts, medical collections

Hey everybody,

I’ll be 23 in a few months. I’ve already been married & we bought a house [but due to a pipe busting in the winter & causing a ton of mold & then five trees falling on the house in a wind storm that the insurance company did not want to fix], the home ended up going into foreclosure. The loan was not in my name, however my name was on the deed. I’m not married anymore & the last time I checked my credit, the house did not show up but, I think that was before it was actually foreclosed on.

He & I have two credit cards [probably 00 of debt total] that I have to pay half off of [so, about 00 right there.]
Then I have a Kohls & Macys card [about 0 total].
Then I have three other items that are not credit cards that come to about ,050.

Total, I have just a little under ,000 worth of debt which I know doesn’t seem like much but, after I deduct all my bills, I don’t have much money left. Things keep popping up left & right like medical expenses & tires for the car, etc & whenever I think I’m starting to get ahead, I end up even further in debt. I already have two jobs, I already save as much money as I can. Every bit of debt that I have has already gone to collection agencies so I can’t go online & pay on anything.

I’m just wondering if [since my credit is already horrible] I should just file for bankruptcy. If I did, would the foreclosure still show up [assuming that has affected my credit]? Would it be easier to rebuild my credit after bankruptcy or repair it by paying everything off? If bankruptcy is my best option, how long will it affect me? Will I be able to rent an apartment? What if a few years from now, I want to buy a house or condo? If bankruptcy is not my best option, is there any programs that aren’t scams that I could use to consolidate or something? Not sure if this makes a difference but, I do have a 2007 car that I bought brand new. I have three years left of payments & I’m current on it. I’m thinking about trading it in for a vehicle with AWD.

Serious answers only please. I’m trying to figure out what steps that will help me further myself faster. Thanks in advance.

Technorati Tags: amp, apartment, collection agencies, credit after bankruptcy, credit cards, foreclosure, insurance, insurance company, jobs, kohls, last time, medical expenses, mold, scams, tires, trees, wind storm

Hey.. I was unemployed for 8 months and got very behind on all my bills, credit cards, loans.. etc..
I have collection agencies and debt collectors calling me at least 15-20 times a day trying to get there money (everyday all day).. I am about to file bankruptcy to get out of this mess.. I tried debt consolidation, its a joke.. My question Is when the creditors call me should I tell them im in the process of filing bankrptcy OR WILL THAT CREATE MORE PROBLEMS , SUCH AS WAGE GARNISHMENT OR SUEING ME ….

Technorati Tags: bankruptcy, collection agencies, credit cards, creditors, debt collectors, debt consolidation, everyday all day, joke, loans, money, wage garnishment

I am working on paperwork to filing bankruptcy. My attorney wants me to list all my creditors. Thing is, most of them were charged off three years ago and now belong to collection agencies. If I list my original creditors in the bankruptcy, will the collection agencies still have the debt, and will they be able to harass me? That is to say, will the debt really be gone?

Technorati Tags: collection agencies, creditors, filing bankruptcy, paperwork

I know my best option is to talk to an attorney, but I’d like to get some pre-attorney advice on here before hand.

The big question is, should I file for bankruptcy? I am only in my early 20’s, and I made some mistakes when I was in my teens. Without getting in to the story, what I will say is that, all of my credit cards were charged off, and sent to third party collection agencies. I owe about ,000 all together.

I was told that a charge off looks horrible on your credit account, and the only way to recover from a charge off is to wait the seven years for it to wash off your report. How do seven charge offs look compared to a bankruptcy? I am still struggling to pay them off, and my monthly income is sufficient to live off of and pay things such as rent, food, utilities, and for my dependents. There is legitimately no money left over to even think about negotiating the money. I know I owe it, and I’m not denying that, but I’m trying to figure out my options from here.

What are the benefits from filing for bankruptcy VS waiting it out and paying them off later down the road?

Technorati Tags: attorney advice, charge offs, collection agencies, credit cards, dependents, filing for bankruptcy, money, seven years, should i file for bankruptcy, third party

do i only include the original debtor in the bankruptcy or do i have to include all the collection agencies the original creditor sold the debt to as a creditor aswell ?

Technorati Tags: bankruptcy, collection agencies, creditor, debtor

How can I get the credit card lendors..or now collection agencies.. to work out a deal with me so I can clean up my credit? My biggest concern is a Wachovia Private Loan I took out for school. There was about an 8 month gap where I was not enrolled in school, 2 months over their 6 month allotted time before repayment. I owe about ,000 on that. This loan is not federally guaranteed. Is there a way to get it back into deferment now that I am in school? Or should I just file for bankruptcy since it’s not federally guaranteed? I’d rather not file if I don’t have to.
How can I work out some deals with collection agencies & Wachovia? Any tips or language I should use when communicating with them?
Thanks

Technorati Tags: amp, bankruptcy, collection agencies, credit card, gap, lendors, private loan, wachovia

I’ve made a big mess out of my life by making mistakes I could actually afford at the time. I had a great job making enough money that I could afford my own apartment and a brand new car. Life was great for about 2 years, all my payments were on time, and I had a little extra cash so I could go out with friends on the weekends. I met a guy and he moved in, and everything went straight down the tubes. My boss fired me and didn’t give me an explanation ("something needs to change and we think it’s you" whatever that means), and I found another job immediately but only making about half of what I was making when I got fired. This whole time, I was still paying all the bills for the apartment and car, even when I had a full time roommate because he didn’t contribute a dime for the first 5 months he lived with me. I used up all savings and started to borrow money from family and friends until they all cut me off ( reasonably stating that because I had someone else living there, they shouldn’t have to rescue me and I’m inclined to agree ). so at this point, I’m about 2 months behind on my credit cards and car payments, and my brain snapped and I told my bf that he had to start helping with the bills. at which point, he started "helping" with about 1/4 of the bills for the apartment ( i never expected him to help with the car or credit cards, but I do feel he should have had to help with 1/2 the bills for the apartment, especially since his kids were there on the weekends as well ). I quite stupidly started just flat out ignoring the harassing calls from creditors and collection agencies (hey, I couldn’t pay my bills just to live, sleep and eat much less give anything to the creditors, and they refused to work with me the first couple of times they called). I surrended my 2 year old car that I adored because the creditors told me they had reported it stolen (i don’t even know if they can do that, I was 2 months behind on payments). also adding to the misery, I had co-signed a loan for my brother to get a truck, which he also defaulted on and surrended. So to date, I have ,000 in debt and have no way of paying it back (at least not for the foreseeable future). I do have a job, making less than 0 a week with no possibilty of any overtime and / or supplemental income. last october, I was severely depressed and got behind the wheel of a car drunk, got arrested and charged with a dwi. so now, I have to pay rent, fines and surcharges, my car insurance went through the roof, and my phone bill. at the end of the month, I’m left with about , 0 if I’m really lucky. I talked to a credit counselor to try to get the debts under control, and she informed me that my ONLY option is bankruptcy. I’ve come to terms with the whole bankruptcy thing ( and believe me, I’m not thrilled about it ) but the biggest problem I’m facing now is trying to come up with the money to file for bankruptcy. The creditors are getting more aggressive, I’ve been sued at least twice, and they are threatening bench warrants and garnishing my wages. I can’t afford what I’m living on now! If they garnish my wages, I will not be able to pay for something (most likely fines and/or surcharges) and all of this is going to turn into an even bigger mess.

I’m at the point now where I understand all of my mistakes, realize that I have to pay for them. But I’m also at the point where I am extremely close to suicidal. I can’t eat, I can’t sleep and I can’t concentrate on anything. I’m ill at the situation I’ve created for myself, but I don’t know how to fix it. I don’t even know where to start. I quit drinking nearly 6 months ago after realizing what it had cost me. Is it too late? Am I doomed to be a mess my whole life? It seems like this situation never gets any better, it’s gradually just getting worse, to the point of just giving up completely.
This situation feels completely hopeless. No one has any advice for me. every one just says "that sucks". well, no kidding! I hate to sound so shallow, like money is the only thing that matters to me. I don’t just care about money ( in fact, I HATE IT ). The fact of the matter is that my whole life feels wasted, like I’ll never recover from any of this. I hate no longer being self sufficient, and feel like I will never be able to take care of myself again.

Is there anyone out there that has any advice for me at all? Steps I can take to improve the situation? Or possible jobs I could take on to try to make some extra cash so I can take care of all this with a less than stellar record? I just need some help and this is my last resort. I really don’t know what else to do.

And for anyone who has snarky remarks, IE: you’re on the internet ( so I must have $ right? no, I use my computer at WORK), you made your bed blah blah blah, please keep the comments to yourself. the purpose of my post is a last ditch attempt at trying to get some help, not lose any more of my self esteem, if there is any left.
Thanks

Technorati Tags: 5 months, apartment, bf, boss, brain, brand new car, car life, car payments, collection agencies, credit cards, creditors, enough money, extra cash, family and friends, full time, misery, roommate, sleep, tubes, whole time

I know that I need the names and addresses of my creditors. Do I need to know the exact amount that they claim I owe? Do I need to know the account numbers? Do I need to know the names and addresses of all of the collection agencies involved? If I can not obtian the names of the collection agencies, but the original creditor is included in the bankruptcy, does that wipe out the debt completely or do the collection agencies still have a right to persue? I can provide the names, addresses, and account numbers, but I do not know the exact amounts that I owe. I also do not have any information on the collection agencies. If I need this information, what is the best way to go about getting it? I considered writing letters, but I was advised not to alert my creditors of my intention to file as they might increase their efforts to collect. Please help

Technorati Tags: account numbers, bankruptcy, collection agencies, creditor, creditors, exact amounts, intention, names and addresses, writing letters

What does the attorney do for you? Their services seem awfully expensive. Do they just file the paperwork for you? I have debts that have been sold off again and again to different collection agencies. Do they track down these debts for you? I understand the paperwork is complicated, but I don’t think it is anything I couldn’t handle on my own after reading it over (and the NOLO book.) What services do they provide?

Technorati Tags: collection agencies, debts, nolo book, paperwork

Just got collection letter from Ken Hughes of Merchants’ Credit Guide Co. Welcome all info about this outfit. Bad rep all over web.

Have you been sued by a collection agency? What did you do? How long from first collection letter to court date?.Were you represented?

How often do collection agencies sue low-income folks with no assets e.g. no home, old car? Seems like it wouldn’t pay. Have you known it to happen?

Don’t want to spend the rest of my life hearing from collection agencies. These guys sell debts to one another for pennies. I could be hassled for years. Some lawyers say to ignore it because I don’t have anything. It’s one thing to get a judgment, another to collect.

I just want peace of mind. I’m 69 with heart trouble and high blood pressure.I’m judgment proof but not stress proof.

I welcome mature advice. Lowest cost bankruptcy I can find is 00. Legal aid won’t do one.Should I do a bankruptcy just for the peace of mind?

Technorati Tags: assets, bankruptcy, collection agencies, debts, heart trouble, high blood pressure, income folks, judgment proof, ken hughes, lawyers, legal aid, merchants credit guide, merchants credit guide co, peace of mind, pennies, rest of my life