If I file bankruptcy or let my home be foreclosed will that affect my current credit card interest rates? Im in great standing with my credit cards. After the foreclosure happens can the credit card companies raise my interest rates or will they even find out about it if they dont run my credit again. Can they run my credit without my approval?
Hi, I have 9 judments in NYC, 7 of them are from credit card companies, 1 of them from a car repo and one of the from a hospital bill….
Everything happened when i was younger and stupid…
Now I’m ready to get my life back on track.
I need to find out what should i do?
Get a lawyer? If so what kind of lawyer….
File for bankruptcy ?
Try and settle with all those creditors? If so, how? I mean ive heard that you have to ask them for a letter stating that if you pay the settlement they will remove the judgment and remove all that info from your credit report.
The hospital bill alone is 20K, the other 8 are about 20K all together.
I cant afford to pay all of it, but i can afford settlements with them.
I would appreciate some info from someone with experience or knowledge…..
Thanks!
in-laws have seller financed mortgage because of 100k plus credit card debts completely quit paying on all them several years ago can the credit card companies put a lien on their house?how will i know?if so will they take the equity from their house if they sell it ?If they die and i am willed the house now will i have to pay their debts after their dead ?if no what if I sell the house later will they take the equity from me for their debts?
I was default for several months on all my bills. Then i was delinquent. After that the credit card companies started calling 20 times a day to my house. I still did not pay. Then a collection agency was involved and they too did that boring stuff of excessive callings and mailings. Finally the collection agency sent the debt to "debt buyers". The debt buyers also played the same role of excessive phone calls and letters asking to pay bill. However I still did not pay anything.
Then the debt buyer sold the debt to another debt buyer. Finally it reached the lawsuit stage and I still don’t care to pay anything. I showed up at the court and demanded proof the debt is mine (even though i knew its mine). The creditor lawyer did not bring any paperwork so a new court date was set 3 months later.
In those 3 months the debt buyers again called and called and mailed lot of bills. But i still didn’t pay anything. Then just 1 day before the court date, i filed chapter 7 bankruptcy protection.
So my question is what was the point of debt buyers buying my debt and harassing me when i ended up filing bankruptcy. What will debt buyer do now? will they sell it again to another debt buyer? I don’t quite understand whats the purpose of their role?
I received a notification in the mail that my wages are being garnished by a credit card company, for an outstanding debt. I cannot afford for this to happen because I am a single mother of my daughter. How much or what percentage can be garnished? I live in Maryland. I read on a website that they can take all but 0 of my check a month. Is this true? I am currently unemployed but I have had numerous job interviews. I assume that once I become employed my wages would be garnished immediately. I am thinking of filing bankruptcy because I have other credit card companies that will be coming after me for money that I do not have. I heard bankruptcy can be filed online to save money for a lawyer. I do not have money to pay a lawyer. PLEASE HELP!
Yes, I did have a court date but I did not go because I knew I owed the money and I did not have the money for a lawyer.
I’m afraid if I don’t file bankruptcy I will have no money left to raise my daughter. I owe about 00 to different credit card companies. Can they all garnish me at one time? If so, I may not have enough money to get my daughter what she needs.
thank you so much for your responses. It is a huge weight lifted off of my shoulder. So you think I should not file for bankruptcy? How long do you believe it would take me to pay off the 00 debt? Once it is paid off, will my credit go back up, with time? I have a car loan but it is on time.
When a person files for bankruptcy,do the credit card companies/ banks (or any other institution that person may owe money to) collect on the debt? For instance, if John has acquired ,000 in Credit Card debt. Once he files bankruptcy, does the Credit Card Company lose out on the money or does it some how acquire some or all of it? Is foreclosure and seizure of property after bankruptcy done for the purpose of paying off any debt?
I have about 23,000 in unsecured credit card debt. I recently lost my job and had to take one making a lot less per month. I went a debt consolidation program that got my payment down to about 700.00 per month. The problem is i am only bringing home net about 1200.00. I then have a mortage utilities and insurance etc so i am running in the hole. Is debt settlememt a good alternative. I do not want bankruptcy . I know settlement will hurt my credit score but at this point I need a way out. I have heard that settlement companies make you hold off on payments and the credit card companies will keep hounding you? Is this true? Does anybody have a suggestion to my dilema
I am 22 and paying for my financial mistakes when i was younger. I recently just finished paying a garnishment for a apartment I once had, and I just received another noticed today that I would be getting another garnishment starting with my next pay check. I have gone to see a bankruptcy lawyer as well as a credit counselor, but have been to scared and confused to make a decision on anyone of them. I’m not really sure how exactly how much money I owe between, credit card companies, medical bills, etc. I’m not sure what I should do? I mean bankruptcy stays on your credit score for 7-10yrs but I’m only 22, but at the same time I would rather it not be on my score at all. Any suggestions?
I would like to hear from people who have actually filed. What happened? What is the process? Are you happy with your decision? Stress relieved?
I am so in debt and credit card companies keep raising the interest rate. I cannot get ahead. I don’t see another alternative.
Please – only people who’ve actually filed. Thank you!
Any information is appreciated.
I never late for any of my payments except one time, one of my credit card companies changed the grace period and kept it low key and because of that, I was late for 1 day and becuase of that, they raised my APR from 3.99% to 29.99%. When I called them, they kept saying this was not their responsability and nothing they can do and NOT even listened to my reasons. I have no choice but to file bankruptcy.
I know that the trustee has to sell whatever assets you have, to partially pay back the creditors, but what ARE those assets? Like Furniture? Dishes?
Please dont tell me how bankruptcy can ruin credit, etc. I know it already, and after all of this hell with the credit card companies and the mortgage company, who the hell in their right mind would want to deal with credit ever again? Just, if you have the answer, then great, please answer. If not, then keep your opinion to yourself and move on. Thanks.
I dont even have the money to buy food or toilet paper, let alone a boat. If they are only looking at major purchases, then they are going to be in for a shock.
meaning, what is the process? what happens to my credit card debt? does it get erased??? what kind of information do the credit card companies give? or do i give the information? sorry, i am just clueless about the process of bankruptcy and it looks like i don’t have a choice. i just wondered what happens to the credit card debt
Was told by two attorneys that before I file Chapter 7 bankruptcy I need to be three months in arrears on my minimum payments.What should I tell the credit card companies? The calls are already non-stop.
I recieved a notification in the mail that stated my wages would be garnished by a credit card company. I am currently unemployed but will be employed soon. I know they can garnish about 25% of my wages when I become employed. I owe to more than one credit card company. I owe in total about 00 to different credit card companies. Should I file bankruptcy? If not, how long will it take to have the 00 paid through garnishment?
Also I have a car loan that is completely up to date and the payments are on time. Will this eventually help me bring my credit back up?