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?

Technorati Tags: 401k, bankruptcy, collections, creditors, debt settlement programs, early september, interest rates, part time job, student loans, sweet time, unemployment

When my ex and I split up and child support was set up, I made a budget that fit the income. After a few years, my ex quit his job to get out of child support. After finding where he was working and turning it in, he would quit again to move to another job. I used my credit cards to fill in the missing money thinking i would pay it off when he started to pay again. Well that didn’t happen. Now I am filing bankruptcy after cutting everything we used to do out. I will be able to pay the bills with my own income when this is through. My daughter sees that I am stressed and hears the collections calls. Do I tell her the whole truth? I don’t want to seem like a complete failure in her eyes like i can’t handle money and she lost everything she used to do because of my incompetence. We wouldn’t be this bad off if he didn’t run from his responsibilities. But I don’t want to make her hate her dad.
She is 13 years old. Her Dad rarely sees her because it is now his turn to enjoy life since he started to have kids at 20(he is 42 now- and that is a quote from him) He has a 21 year old son from a first marriage living with him who he makes pay all the bills in their house. That son is going to move in with me next month because he has been wanting to go to college but hasnt been able to since all his money goes toward the household expenses(he works 60 hours a week at a little more than minimum wage and he is not my biological child)
This is for the people who asked how much he was in her life and how old she was.

Technorati Tags: 13 years, biological child, budget, child support, collections, credit cards, dad, failure, filing bankruptcy, household expenses, incompetence, job, marriage, minimum wage, missing money, whole truth

First off, I am a full-time college student. Ok, here’s my situation–I’m a little over ,000 in credit card debt. My monthly payments from all my cards combined add up to about 0, and every one of my cards (with the exception of one at 8%) have rather high interest rates (19%, 20%). Most of them are pretty close to being maxed out. Having to make these payments is really hurting me every month. I would like to consolidate all of my cards through a loan from my credit union. HOWEVER, due to having a bill that has been out in collections (0 electric bill) for the past 3 months, my credit score has gone down. I know you’re prob gonna say just pay it because it’s only a 0, but wouldn’t even be able to pay that right now without ultimately cutting myself short at the end of the month. Would this mark on my credit inevitably prevent me from being able to secure a loan through my credit union?

Also, if that wouldn’t be able to fall through, do I have any other options at all? I am pretty stressed right now about finances and would really appreciate some educated/experienced advice with this type of situation. First hand experience with this would probably offer me the best advice to this predicament–what did you do to get out of debt? Is bankruptcy even a good option, or is my debt small enough to where there’s still hope for another alternative? Please respond to this i am desperate to get out of debt! Thanks a lot in advance.

Technorati Tags: bankruptcy, cards, collections, credit card debt, credit score, full time, hand experience, high interest rates, maxed, predicament, time college student

First off, I am a full-time college student. Ok, here’s my situation–I’m a little over ,000 in credit card debt. My monthly payments from all my cards combined add up to about 0, and every one of my cards (with the exception of one at 8%) have rather high interest rates (19%, 20%). Most of them are pretty close to being maxed out. Having to make these payments is really hurting me every month. I would like to consolidate all of my cards through a loan from my credit union. HOWEVER, due to having a bill that has been out in collections (0 electric bill) for the past 3 months, my credit score has gone down. I know you’re prob gonna say just pay it because it’s only a 0, but I wouldn’t even be able to pay that right now without ultimately cutting myself short at the end of the month. Would this mark on my credit inevitably prevent me from being able to secure a loan through my credit union?

Also, if that wouldn’t be able to fall through, do I have any other options at all? I am pretty stressed right now about finances and would really appreciate some educated/experienced advice with this type of situation. First hand experience with this would probably offer me the best advice to this predicament–what did you do to get out of debt? Is bankruptcy (which I know absolutely nothing about) even a good option, or is my debt small enough to where there’s still hope for another alternative? Please respond to this i am desperate to get out of debt! Thanks a lot in advance.

Technorati Tags: bankruptcy, cards, collections, credit card debt, credit score, full time, hand experience, high interest rates, maxed, predicament, time college student

Is it just as legally accepted as paperwork filed directly from a lawyer? I don’t have anything I need to reaffirm, no investments/retirement, or other income other than my job, so it’s not going to be difficult.

Given the changes to the bankruptcy laws from back in 2005, do I have to get a lawyer now for this, or can I fill out the forms guided by the software and then file?
I’ve got nothing to dispute. Someone stole my card numbers and rather than working with me and the cops, they sent it to collections. I heard nothing for 2 years. I didn’t get a bill, not calls, nothing. Now they’re trying to sue me and a lawyer told me bankruptcy would be my best option.

I just don’t have the 00 to hire an attorney to fill out paperwork. Other than that they don’t do much.

I don’t have a problem doing the paperwork, I just want to know if using the software will give me the proper paperwork for filing….

Technorati Tags: bankruptcy laws, card numbers, collections, cops, investments, job, lawyer, proper paperwork, retirement

First off, I am a full-time college student. Ok, here’s my situation–I’m a little over ,000 in credit card debt. My monthly payments from all my cards combined add up to about 0, and every one of my cards (with the exception of one at 8%) have rather high interest rates (19%, 20%). Most of them are pretty close to being maxed out. Having to make these payments is really hurting me every month. I would like to consolidate all of my cards through a loan from my credit union. HOWEVER, due to having a bill that has been out in collections (0 electric bill) for the past 3 months, my credit score has gone down. I know you’re prob gonna say just pay it because it’s only a 0, but I wouldn’t even be able to pay that right now without ultimately cutting myself short at the end of the month. Would this mark on my credit inevitably prevent me from being able to secure a loan through my credit union?

Also, if that wouldn’t be able to fall through, do I have any other options at all? I am pretty stressed right now about finances and would really appreciate some educated/experienced advice with this type of situation. First hand experience with this would probably offer me the best advice to this predicament–what did you do to get out of debt? Is bankruptcy (which I know absolutely nothing about) even a good option, or is my debt small enough to where there’s still hope for another alternative? Please respond to this i am desperate to get out of debt! Thanks a lot in advance!

Technorati Tags: bankruptcy, cards, collections, credit card debt, credit score, full time, hand experience, high interest rates, maxed, predicament, time college student

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

I’m filing to stop a collections lawsuit that was filed against me the day before my statue of limitations ran out. 4 years ago I had my card numbers stolen and had gone through some other money troubles.

I opted to keep gas in my car and a roof over my head than struggle to pay my cards off after they screwed me over.

Here it is like 4 and half years later and I’ve started rebuilding my credit. I currently have 3 cards all with low balances that have been paid on time for nearly a year each. I’ve been told when I file bankruptcy that I need to file on them as well. I’ve also been told that if the cards are paid off, that I do not need to file against them.

Is that the case? Can I keep my 3 cards after I file bankruptcy if they’re paid off, or should I just file them in and try to start over yet again after it’s been discharged?

Thank you!
I don’t mind filing against them. I just want the clearest information I can get. I’d rather have the clean slate, but thanks for the clarification.

Technorati Tags: bankruptcy, card numbers, cards, clarification, clean slate, collections, gas in my car, half years, money troubles, roof over my head, statue of limitations, struggle

When I checked my credit report i saw several companies i had owed money to still showing "in collections" and not charged off in bankruptcy. today i just revieved another notice saying i owed this company money when it was to be put on my bankruptcy. Should i send them a copy of my bankruptcy? I didnt do a repair or contest thing with my credit report on items that should of been on my bankruptcy is there more i should be doing? FYI i did the bankruptcy on my own and not with an attorney.
oops I meant i did do a repair on my credit report.

Technorati Tags: bankruptcy, collections, company money, credit report, quot

I have about 00 in credit card dept and another 6 in medical. Its not that I didn’t pay on them its that I was in a car accident and my medical went into collections and messed my credit up and when I went to do a balance transfer I was denied..so I couldnt make my minimum payments when my rates went up after the initial 6 months. I would make what I could every month but adventually I couldnt keep up. HSBC would not work with me and sent me into collections. I was very supprised they woldnt work something out other than 0 payments per month. should I file for bankruptcy? I wont ever be able to make good at this point with my income and financial standing. I am not willing to go through a 800 credit debt program I work for a financial institute and they said you end up paying way more than what you owe this way. What other options do I have?
how much does fileing bankruptcy cost about?

Technorati Tags: balance transfer, car accident, collections, credit card, credit debt, debt program, financial institute, minimum payments, should i file for bankruptcy

Im 20 years old and got into a big problem when i was 18-19.

I had a credit card through my bank and then decided to get a car. i went to one of those car places that approves you even if you dont have good credit. needless to say all of the payments got me caught up and because of some life events i ended up not being able to pay any of them. My car was repo’d and my credit card and bank account are charged off now. At this point im getting called 10-15 times a day from the car company and collections. Its been about a year since my last payments and my family thinks i should file bankruptcy.

I really want to get this cleared up but im not sure how to get started!

If anyone has any advice please help!

Technorati Tags: bankruptcy, car company, car places, collections, credit card, repo

I have about 30,000 in debt most is credit card debt that has been in collections for two years now. And the rest is my husbands school loan. I have 20,000 in equity in my condo but the condo is not selling.
I have horrible credit because of falling behind on credit card payments.
which started when I went through a divorce with my first husband.
I don’t know if I should file bankruptcy ( which I don’t want to do ) I just feel stuck. Please give me some ideas…

Technorati Tags: bankruptcy, collections, credit card debt, credit card payments, divorce, school loan

My nephew is a young guy who has K in debt – student loans, credit cards. They’ve went to collections and he wants to file for bankruptcy. He has a stable job, makes decent money but is tired of the collector calls.

I told him declaring bankruptcy would only makes things worse for 7-10 years and beyond, but he wants to throw in the towel because of the collector phone calls. I told him that it IS possible to negotiate with them but he doesn’t believe me.

How can I talk him out of filing bankruptcy?

Technorati Tags: 10 years, collections, credit cards, decent money, declaring bankruptcy, filing bankruptcy, nephew, stable job, student loans

I am 24 and i just got a 50k hostiple bill that went to collections i am never going to be able to pay it off– i had no insurance and i made like 20dollere more a month so i did not qualify for medical assistance—

after asking this q 2 hrs ago this is what i would try to get rid of
a 50k hostiple bill
a cell phone bill
a bank for a bad check when i was like 16
and a public defender bill when i was like 17
no current credit lines no mortgage no loans no auto payment
300 doller credit card bill
should i file–yes cuz the hostiple bill is HUGE!
can i file this my self if so how hard would it be/

thanks

Technorati Tags: cell phone bill, collections, credit card bill, doller, insurance, loans, medical assistance, mortgage, public defender

I owe .000 dollars to two different private lenders. Times are tough at the moment were I had not been able to get a job. I had been searching for a job for the last 2 years and have not gotten any results yet. Moreover, the lender have send my case to collections. The collections people at least, calls me twice a day demanding their pay. I try talking to them to reason, but they just keep calling and calling.

Honestly, for the last year I had not been able to have a decent sleep. I am only 28 years old but I looked 50. Im getting gray hair, and my eyes are tired.
I am embarrass to say it, but I do not know how to use a credit card.
I had never had credit cards or rely on any other type of credit except my bank debit card. I do not owe a house, nor I have plan to buy one soon. I just want to start from zero. The pressure is grater now, hence lately I had been thinking of suicide as the last alternative. Almost all my family knnows about my debts, and they see me as a loser. I do not want to feel like that. I come from a background where we do not rely on therapist for our problems, or any type of sitiuatios, we just deal with them.
I know credit card is our a mayor benefactor for the individual, but at my 28 I had never had the use for it and yet, I had travel to Europe and the Americas.
What should I do? I am tired, sad, and been having this morbid ideas of ending my problems.
Any help would be grateful.

Technorati Tags: 28 years, bank debit card, benefactor, collections, credit card, credit cards, debts, europe, gray hair, loser, private lenders, searching for a job, sleep, thinking of suicide

10 yrs. ago i received a pell grant and student loan for cosmetology school. the loan has been in collections for years. i know how irresponsible ive been. however im not financially capable of resolving the after-math. im thinking bankruptcy, would that put me back to a place for a second chance at college? any ideas or alternative options?

Technorati Tags: bankruptcy, collections, cosmetology school, math, pell grant, second chance, student loan

We filed for Chapter 13 to protect the house in Foreclosure. Due to unforeseen circumstances, we may have to let the house go back to foreclosure and change Bankruptcy to Chapter 7 – what happens in a 7? What can the courts/creditors take from you if you owned a home that was lost? Hubby is worried the courts can come in and take everything – like collections and TVS, etc.
Do you have a Chap 7 story to tell – good or bad?

Technorati Tags: bankruptcy, chap, chapter 13, chapter 7, collections, creditors, foreclosure, hubby, tvs, unforeseen circumstances

Me and my husband are seriously thinking about trying to file bankruptcy, where do we start? We want to if we can pay off our debts and so forth but we have no idea where to start or who to speak with.
A lot of our debt is from credit cards and a loan, a lot of our cards and loan is no longer in collections and in a deeper status.

Technorati Tags: bankruptcy, collections, credit cards, debts

I used to have copies of all of my medical bills that have gone to collections, utility bills, and all my other bills so that I could file bankruptcy. There are so many companies that I owe money to and I lost all of my copies of the bills in a flood last year. Is there a number I can call to find out who all I owe money to?

Technorati Tags: bankruptcy, collections, flood, medical bills, money, utility bills

My wife and I both lost our jobs a month ago and now we’ve decided to head to college together.

–> bad credit car loan about to be repoed, 2 credit cards (i already been sold to collections), apartment bill about to be sent to collections, and some medical bills

Can we get enough aid to pay for college and then for my dental school IF we decided to file bankruptcy?

Also, how much does bankruptcy cost?

Will bankruptcy cover all of the things I’ve listed before?

Thanks for your help everyone.

Technorati Tags: apartment, bad credit car loan, bankruptcy, collections, credit car, credit cards, dental school, jobs, medical bills, thanks for your help