When To File Bankruptcy » credit card

At what point do you file bankruptcy?

admin — Thu, 02 Sep 2010 18:03:29 +0000

I have a credit card that I am behind on and owed ,000 and it just went into Collections a few months ago. I’ve been making the minimum payment ever since it went to Collections, but I can’t afford to make the minimum payment when it is not in Collections. Right now the minimum (with Collections) is -100 a month whereas before my minimum payment due was competing with RENT! Like, seriously, 0 or so.

I also have 2 recent E.R. bills that I am trying to slowly pay off… they are a combined total of ,000.

I am doing what I can to get all of my debt squared away. But, I just wanted to know at what point does one file bankruptcy??? Thanks.

Technorati Tags: bankruptcy, collections, credit card, minimum payment

I'm only 19 and my credit is already messed up. Should I try to fix my credit or just file for bankruptcy?

admin — Fri, 20 Aug 2010 12:05:55 +0000

I can’t get a new bank, I can’t get a good phone carrier, and I don’t know if colleges take credit into account when giving me financial aid. What should I do?
It’s not for a credit card. I just have bad credit
Well, Jerk, I am in debt. I’m in debt to 2 different banks. I’m in debt to T-Mobile. I’m in debt to my landlord. That’s all.

Technorati Tags: bad credit, banks, colleges, credit card, financial aid, landlord, new bank, phone carrier, t mobile

Unemployed housewife, bankruptcy & household income?

admin — Sun, 15 Aug 2010 19:12:39 +0000

I have a considerable amount of credit card and medical debt. I’m currently unemployed and caring for our two small children while my husband works and pays the bills. I babysit for a little boy and make about 0 cash a week, but we’re falling severely behind on everything. I have been searching desperately but I cannot find a job that pays well enough after taking chilcare costs into consideration.

So after a lot of discussion, my husband and I have decided that I should declare bankruptcy. His name would not be on it, as the debt is in my name alone. I just assumed that his income would be a factor when I file because it is the only household income we have. He says that it will not even be considered since his name will not be on the filing, and that I will file claiming "zero" income. Who’s right?

Also, he says I should just say my income is the small amount I made babysitting, but I did not pay taxes on that. What about that? Will I be in trouble if I disclose this information?

Technorati Tags: bankruptcy, credit card, household income, job, medical debt

If I am considering bankruptcy, is it ok to still use my cards for basic necessities when I have no money?

admin — Fri, 23 Jul 2010 16:48:28 +0000

Me and my wife after several months of financial hardships have contacted a attorney for possibly going into bankruptcy. We are current on all our bills and always have been. She had to leave her job in January and has not been able to find work since, to try and make up for this I went into a online venture which ended up me being scammed for about ,000 from a credit card I used. We lived off borrowed money and taxes but that is all gone. My question is this, I have no money…I mean no money at all. My refrigerator is broken so we have had to eat out at fast food for the past few weeks. Things are crappy and I need money to get by, however I don’t want to get into trouble for using my cards when I plan on filing for bankruptcy. Is it acceptable to use them for things such as food, clothing, gas etc… I would greatly appreciate any help you can provide. I feel bad enough for being pushed into this but don’t want to get into legal trouble if we do file. I have yet to speak to a attorney and don’t even know if I qualify. So is ok to use the cards for these things? Would be ok to use a credit card to buy a new refrigerator? or to pay to maybe get the old one fixed???? PLEASE HELP!

Thank you so much in advance!

Technorati Tags: cards, credit card, fast food, filing for bankruptcy, financial hardships, food clothing, job, legal trouble, money, refrigerator

I filed Chapter 7 bankruptcy in 2001. When it is taken off my report, how much is my credit score going up?

admin — Sun, 18 Jul 2010 02:24:56 +0000

My credit score is not that good (between 584-624 for each bureau), and I was wondering if I should get a credit card to raise my score, or if it will go up substantially when my brankruptcy goes off of my report (in 2008)?

Technorati Tags: brankruptcy, credit card, credit score