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

Brief background: Moved from one state to another for a job, which was lost. Income has dropped to about 50% of what it was. We’ve gone through our savings to try and pay things. Bring home pay now covers ONLY new house payment, utilities, groceries, life insurance, and government student loan. Have previously surrendered 2nd vehicle, (1st vehicle is paid in full). Old house in old state foreclosed on and being sold tomorrow. Credit cards remaining unpaid and sent for collections, etc.

My question is this: should bankruptcy proceedings begin or should we continue as is? What, if anything, can our creditors do to us (other than trash our credit – which has already happened). We live in Texas. I would appreciate any suggestions. However please refrain from replies such as "get a job", because we are both working full time jobs and have cut ALL unnecessary spending. We dread the thought of bankruptcy, but see no other alternative.
We’ve done the credit counseling, etc., and the funds are simply not there.

Can they garnish wages for debt in Texas?

Thanks for the replies so far – I appreciate it.
The one vehicle we have is paid in full and is a 1999 Ford Ranger – not new. Excellent comments everyone – thanks!

Technorati Tags: 1999 ford ranger, bankruptcy proceedings, collections, credit cards, credit counseling, creditors, dread, ford, ford ranger, full time, government student loan, groceries, insurance, job, life insurance, texas thanks, time jobs, trash, wages

I have unpaid Medicals bills that are in collections (about 11, in the amount of 7,000 $$) With 2 positive current loans on credit report. Should I file for bankruptcy? Please offer Pro & Cons. Keep this in Mind I would like to purchase a home within a year or two.

Technorati Tags: amp, collections, credit report, loans, should i file for bankruptcy

Ok, here is my situation.

When I was 19, I was stupid enough to let my family get a house under my name under one of those "liar loans" (the ones where they falsify tax returns to make it seem like you earn more than you actually do. The house was under two loans, I lost the house to a foreclosure. I had a car that I was not able to keep making payments on, it was repossessed. I also had a credit card that I was not able to pay back. It was also closed. (I actually had two, but I was able to pay one off)

I currently have only a pickup truck to my name.

What do you guys think I should do? Should I file for Bankruptcy? What about the foreclosures and repos? How long do they stay on my credit? And the credit card….I can probably pay that one off. (it’s in collections)

I honestly have no idea what to do. I also have a student loan i’m having trouble repaying, but I already know those are exempt from bankruptcies.

I need help…bad. Guys any advice you can give would be greatly appreciated. I realize I was living beyond my means and ultimately this is MY fault. But I want to make things right again. Thank you for your time, I know this was a very wordy question.

Technorati Tags: bad guys, bankruptcies, collections, credit card, foreclosure, foreclosures, liar, living beyond my means, loans, pickup truck, should i file for bankruptcy, student loan, tax returns

I ex left 15 mos ago, filed for divorce this month. I havent paid on any credit cards, they are in collections in 1 yr. The house is in both our names, I am living in it. Might could get 10k if we sold it. Credit card debt is 17k. Should I file bankruptcy before the divorce is finallized? I want to keep house. I dont make a lot of money, want to file chapter 7. What happens if I file bankruptcy now? Will he be responsible for all the debt ?

Technorati Tags: chapter 7, collections, credit card debt, credit cards, divorce, money, should I file bankruptcy

Im only 21 yrs old, just moved fom ny to atlanta in feb but i have alot of unpaid medical bills that my insurance didnt pick up that i cant afford to pay. I also had 2 credit cards when i was 18 and i maxed those out. Citibank is suing me for a loan i never received.i also have 3 different bank accts in collections due to id theft that wasnt fully investigated. and last but not least, i have a comcast bill that totaled to 00 b/c a family member used the phone to make international calls and refused to pay it and now lives out of the country. what kind of bankruptcy should i file if any?i have 1 car in my name that i pay the note on and my husband has a car that were paying the note on. Will my husband be included in this too?he has new credit but i know the link married people’s credit together. Someone advice…..please!!!!!

Technorati Tags: accts, bankruptcy, citibank, collections, comcast, credit cards, family member, insurance, international calls, unpaid medical bills

I have 6 credit cards and all but one have been charged off. I also have a couple things in collections and some medical bills.
I was told that charge-off’s stay on your credit for 7 years (even if you pay them off) and bankruptcy stays on your for 7-10 years.
I don’t make that much and I’m sure it would take me over 3 years to actually pay them all off.
So I was thinking about filing bankruptcy?
Would it be better to pay off the debt or file bankruptcy?

Technorati Tags: 10 years, 3 years, collections, credit cards, filing bankruptcy, medical bills