When To File Bankruptcy » credit card debt

payday loans, credit card debt also checking account overdraft?

admin — Thu, 09 Sep 2010 21:36:49 +0000

how can i pay it off when i do not make that much money. Should i file for bankruptcy or continue looking for options such as settlement co for the loans and credit card debt. Should i forget bout the checking account being overdraft
do not want to take out any more payday loans also for the last several months the account has been overdrawn almost $ 1,000.00 per month
if you write bout getting even more debt on top of other debt when will i be debt free with nothing to worry about. right now the checking account is nearly $ 800 over drafted. last month it was nearly $ 1,000.over drafted

Technorati Tags: checking account, credit card debt, much money, overdraft, payday loans, should i file for bankruptcy

Do single people get any assistance when buying a home from the government?

admin — Fri, 03 Sep 2010 15:39:49 +0000

I’m a single male veteran with no children. I want to purchase a home and was prequalified for 110k using my VA Home Loan. My girlfriend has a very high debt to income ratio and will likely file bankruptcy due to high credit card debt. I can’t buy anything with her in that shape. I don’t have a down payment, I do have the VA benefits. Home prices are more expensive than ever. How do I purchase a home on my own? In Phoenix, AZ the housing market seems out of reach and all that is left are small "apartment condos."

Technorati Tags: apartment, bankruptcy, condos, credit card debt, debt to income ratio, girlfriend, home loan, housing market, phoenix az, shape, veteran

Do I have enough debt to file bankruptcy?

admin — Mon, 30 Aug 2010 15:43:50 +0000

I DON’T want to file bankruptcy but if it’s the best thing to do in our situation, then I will. I know it’s financial ruin but so is losing our house, which is what it’s about to come to. We are really far behind on our house because my husband’s job made us move to a different city and we had to pay for it…and still pay for our home too. We are caught up on our vehicles but we do have credit card debt, about ,000. Our house is already in foreclosure status and we don’t have the money to pay all of what we owe in one lump sum which is what the are requiring to pull it out of forclosure. We owe about ,500 on the house. If you have gone through bankruptcy, what are the pros and cons from your experience. Maybe some of you know of a debt consolidation company that is trustworthy. I know they all make money but I also know that some of these companies just take advantage of people when they are vulnerable and just need help. I only have 2 options here, forclosure or bankruptcy. Both will hurt our credit.

Technorati Tags: bankruptcy, credit card debt, debt consolidation company, different city, financial ruin, forclosure, foreclosure status, job, lump sum, money, pros and cons

this is a serious question about bankruptcy or trying to avoid creditors?

admin — Wed, 25 Aug 2010 19:41:22 +0000

i had really good credit until a few years ago, i had all the major credit cards and i always paid my bills on time. but i was unemployed because of an injury for almost 6 months so i just lived off of my credit cards, when i finally got back to work i wasnt even making enough to pay all late charges and interest fees. i was paying 50% of my income each week towards paying it back but i was so far in debt by that time that i was still having each account grow in debt because i got so far behind. they were calling me at work constantly , i didnt even have my home phone because i got rid of any luxurys that i didnt need. i ended up moving out of state to avoid them. i understand there are new laws that prevent a person from filing bankruptcy on credit card debt. it has been over 2 years now that i have avoided them. but my debt was about ,000 back then and the way it was growing im sure it has to be double that by now. should i continue to try and avoid them. i earn only 000 a year
i would really like to pay it all back but i couldnt even keep up with the late fees back then and i have a job making less than i made before. is there any way that i could just pay maybe 20% of my income and get my debt paid off? i am barely scraping by now but i dont want to be a deadbeat. but i have also heard that if i avoid them contacting me in anyway for 7 years that they will not be able to collect anything from me. but im sure that they can find me because i work at a normal job and file my taxes every year

Technorati Tags: credit card debt, credit cards, deadbeat, filing bankruptcy, job, late fees, new laws

If you pass the means test does it automatically mean you can file for chapter 7 bankruptcy?

admin — Sun, 22 Aug 2010 02:53:51 +0000

I found a means test online and I took it, I did it two ways, with our income at the moment and our income in the last 6 months. Depending on how I did it, we either had a negative amount of money as disposable income (last six months) or we had a very low amount of disposable income (8) future 6 months. It said I passed the means test both times, of course I’m not positive if I did it right but I just went with what they had as deductions. If you are below the Median for your state and you pass the means test, will you automatically qualify for chapter 7? We have no assets except for a car we are still paying on. I do have an appointment with an attorney, I would just like to know what to expect.
And I know bankruptcy is looked down on, but we are desperate for some relief, we have had some bad luck and paying for everything we owe is just no longer an option. Only about a 1/5 of it is credit card debt.

Technorati Tags: amount of money, appointment, assets, bad luck, bankruptcy, chapter 7, credit card debt, disposable income, means test, median, six months, two ways