Here’s my situation. I was on the top of the world before I even turned 21. I worked so hard to accomplish my financial goals of basically owning my own house and own vehicle before my 21st birthday. Some where down the road I got lost… The great job I had to get the house, I had to eventually step back from to take a slightly lower paying job that offered insurance. To make a very long, struggle-filled story short. I lost everything. And when I say everything, I mean everything. My then fiance` and I split, needing to find our selves again. My new job wasn’t what I thought it was going to be. I inevitabley lost my house, my car, and had to stop making payments on all my credits cards because I quit my job to move across country (with my now husband) who is an Active Duty Marine (now deployed ). I know this is all over the charts, but since my husband is now gone, this is giving me a lot of time to fix/figure out our financial situation. Since my credit score is basically at the lowest point possible now, which bankruptcy should I file for? How does Chapter 7, 11, 13 etc work? My husband does make a decent amount of money, specially being deployed now. But really only enough to pay the bills and pay down his credit. Any and all information on this would be great.
Thank you so much!

God Bless our troops! God Speed be with you. Hurry home!!
Thanks KMcG. Yes – I am aware of th 7-10 year rule with bankruptcy. We’re even considering staying in the military (boo) to bandage all our debt.

Technorati Tags: 21st birthday, active duty, amount of money, bandage, bankruptcy, chapter 7, credit score, credits cards, duty marine, fiance, financial goals, financial situation, god bless our troops, god speed, insurance, new job, struggle, top of the world

I filed in March 2007 and expect my actual discharge letter in the mail any day now-wait, is that the mailman? My bankruptcy already shows up on my credit report and my credit score isn’t so terrible! Specifically, I want to know if its o.k. to start applying for ONE SINGLE credit card and a car loan. That’s it. I’m rebuilding my credit on those two things. Period. Thanks.

Technorati Tags: bankruptcy, car loan, credit card, credit report, credit score, letter in the mail, mailman

My husband and I have been trying to buy a house for 2 years. We both pay our bills on time and make decent money. The problem is that a few years ago he co-signed for a house for his sister. She moved out and quit paying for it and no one informed him until 3 days before it was supposed to foreclose in his name. They said we had to pay ,000 when he only cosigned originally for ,000 or the mortgage company was going to sue. She had put all her credit card debts and her car loan on the mortgage. So he filed bankruptcy to avoid being sued for ,000. Now all debt and credit is in my name which brought down my credit score and he has a bankruptcy on his credit report. We can’t seem to find any bank that will loan us the money to buy a house because they say my debt versus income to not good enough and his name can’t be on the house because of the bankruptcy. What can we do to buy a house?
It’s been 3 years since the bankruptcy. They did try to contact us many times, but they were mailing it to the address that he cosigned for. We lived somewhere else and didn’t know his sister moved out. They finally found us last minute. He had signed when she did refinancing at one time, but he he didn’t realize how much it was for and didn’t think his own sister would screw him over.
The worst part about it is that even with a bankruptcy he still has an awesome credit score and hardly any debt. He always has been very responsible when it comes to paying bills. One lender at our bank knows that we always pay off our loans, but he can’t seem to convince the other guys that don’t know us that they are safe to loan us the money for a house. So some advice to people: don’t ever cosign for anyone. Even if you think you can trust them. It gets honest people like us into a lot of trouble.

Technorati Tags: 3 years, bankruptcy, car loan, credit card debts, credit report, credit score, decent money, last minute, loans, money to buy a house, mortgage company

3 years ago I filed bankruptcy. Since then I have not incurred any more debt. My credit score has risen to about 630. My problem is that included in the bankruptcy was a default on an apartment lease. My question is, when they check my credit will they see the details of my bankruptcy, or will they just be able to see that I filed? The broken lease was over 7 years ago. I want to move out, but am afraid my past mistakes will prevent it.

Technorati Tags: 3 years, apartment, bankruptcy, credit score

A non professional gave me the advice of filing bankruptcy for debt i have totaling 00. His argument was that with these debts that i have are obliterating my credit score anyway and that bankruptcy wouldnt be any worse. Is this true? What does filing bankruptcy do to your credit report and would it damage it more or less than leaving these debts sit as i do not have the money to pay them off at the moment. Thank you for reading and any help.

Technorati Tags: credit report, credit score, debts, filing bankruptcy, money

My husband and I want to start the process of buying a house but we’re afraid that his bad credit will ruin our chances. We recently got married within the year and I have a credit score of 672 and his is probably really bad. He had a lot of debt (about ,000+) from when he was 18 and stupid but now he’s 30. He never paid back a single dime and they just stopped calling. So, I’m guessing the creditors wrote it off after so long but I do know that it’s still an unpaid debt on his credit report. And I know that’s horrible. I’m a stay at home mom right now so I have no income, we live solely on his income, which is a pretty decent amount. I guess I have a couple questions. Should he file bankruptcy? If not, what would you suggest? And, would anybody give us a mortgage with his bad credit? Would they include my credit in the mortgage? Would it help?

Technorati Tags: bad credit, bankruptcy, buying a house, couple questions, credit report, credit score, creditors, mortgage, process of buying a house, stay at home, stay at home mom, unpaid debt

I have a friend that is trying to find ways to fix her credit score. She has no debt (credit cards, car, etc.), just monthly rent and utilities. She has some blemishes on her credit score from a repossesion and some other things, but no more debt. She brought up the idea that she was going to file for bankruptcy to clear her credit and start over again. Is this possible? Can someone file for bankruptcy when they don’t hav any debt? Will it really help her credit?

Technorati Tags: bankruptcy, blemishes, credit cards, credit score, debt credit, repossesion

If you file bankruptcy do they go into your 401k or do you get to keep it? I am trying to look at all options if my husband and I do end up getting a divorce. There is no way we can pay off all our debt and he wants to file if we cant take the 401k out to pay off our debt. I just want to be done with him honestly. the only reason we are together is the kids and money and now the kids are suffering too much from our fighting but I can’t afford to live on my own and pay all the bills we have now. I know I will suffer for years with my credit score which is really good right now but I can’t suffer with him anymore.

Technorati Tags: 401k, bankruptcy, credit score, getting a divorce, kids and money

I have found conflicting information. Some sites say you can purchase a home anytime after a bankruptcy discharge as long as your credit score has been rebuilt but other sites say you have to wait at least 2-3 years. Which is it?

Technorati Tags: 3 years, bankruptcy discharge, credit score

I am preparing to file a Chapter 7 Bankruptcy to discharge my medical bills of ,000. I have no other debt, other than my car payment. What can I expect my credit score to fall to? Right now I have about a 700.

Technorati Tags: car payment, chapter 7 bankruptcy, credit score, medical bills

I had a credit score of 700 and today noticed that a public record was removed. It took my score down to 638. There are not any other changes to the report, just this being removed. I filed bankruptcy back in 2003 and had 2 other public records that were associated with the bankruptcy. One of these were removed and it took my score down. I thought my score would go up. Is there a reason it went down so much?

Technorati Tags: bankruptcy, credit score, public record, public records

My in-laws purchased a home and got a loan under my wife’s name prior to us getting married. They used my wife’s name because they weren’t able to get a loan themselves. They make all the payments on the home. My wife and I don’t live there nor do we have any intention of living there as it’s in a bad location. I had no idea about it until after we were already married.

The in-laws are close to losing their business and can barely pay their bills. A bankruptcy seems imminent and i’m pretty sure the house which is mortgaged under my wife’s name will be foreclosed. Is there anything I can do to protect my wife and myself against this? If it makes a difference they just transferred the Deed to my mom in-law, but the loan isn’t. The home is worth 0k and they still owe 0k since they’ve been making interest only payments.

I worked really hard to get my credit score over 800. I want my own house!!! I couldn’t even qualify for any of the first time home buyer programs because of what my in-laws did under my wife’s name.

Any advice would be greatly appreciated. My brother suggested divorcing my wife (just on paper) so I can at least avoid ruining my credit.

Technorati Tags: bankruptcy, brother, credit score, first time home, first time home buyer, first time home buyer programs, home buyer programs, intention, mom, time home buyer

What are the ramifications when you stop paying your mortgage ? Do you have to tell the bank before you do it ? How much does it hurt your credit score ? Is it a better to try and declare bankruptcy ? What are the requirements to file bankruptcy ? Please help, any and all information is helpful. If you could direct me to sites, that would also be helpful

Technorati Tags: bankruptcy, credit score, mortgage, ramifications

I am going through a divorce and my ex isn’t paying ANYTHING (rent, car, etc) hes already gotten evicted and I am working on getting my name off that. Both our names are on the car and its out for repossession. My credit score is probably very very low right now. I am still in school and don’t have an income or child support yet, just help from my family. Is it better for me to just file bankruptcy or to try and build my credit back up as it is?

Technorati Tags: bankruptcy, child support, credit score, divorce, rent car

Ok,I’m 25 and I just got a 04 Pontiac Grand Prix with 112,109 miles on it,for ,000 but got slammed with a 21% interest rate. I tried before hand to get a lender/bank/credit union going in but No one would fiance me because I have 540 credit score. I had to take the deal because the truck I had was a gas hog and was falling apart and I need a way to get to work, so I sold that to get the down payment for the Pontiac.Here the issue,I have had it for 3 months and I have no problem paying the car note(1-a month) but when the economy shot 2 year ago and my job gave pick slips to me and hundred of people,unfortunately I had lost my home and voluntary returned a 02 Monte Carlo to the bank.As you may know now I have a for-closer and an repossession on my credit which is the reason for the low score. I currently have had a job now for the past two years so I making it even tho it get ruff at times with other things like college and apartment bills. I cant find any lender on the net to refinance a car with that many miles and it doest help that my credit score is so low. I was told that since I’m still young I should file bankruptcy to clear my dept and start over now. The only issue I have is I want to keep the car I just got but is there a way in the bankruptcy that I can keep the car and get the lender/bank to lower the interest rate so I can keep it?Or do I have to give it back or keep it out of the filing altogether? I’m a perfect example of bad thing happening to good people because I held a job all life and payed bills on time but you know what the say "sh** happens" Please provide me with some good meaningful advice .on what the best possible decision Thanks!!!

Technorati Tags: apartment, bankruptcy, credit score, economy, fiance, gas hog, interest rate, job, meaningful advice, monte carlo, payed, pontiac, pontiac grand prix, repossession, slips, tho

Are judgements discharged in chapter 7 bankruptcy. Example if you were evicted from an apartment or house. Also if you own your vehicle will they take that or do you get to keep it? And how long does it take for your credit score to improve and for you to be able to apply for credit again?

Technorati Tags: apartment, chapter 7 bankruptcy, credit score, judgements

I have about 25k in credit card debt. Use to be about 9500 but after 10 years they are all judgments and with all the interest and fees its about 25k now. About a year and a half ago i had a really nice job was making decent money. I saved about 9000$ so i can try to pay my debt off. Originally on average i owed about 2500 to each of the credit cards i had. I got all my info together and called each of them to try to set up a plan so i could pay them off. Right now discover says i owe about 7k originally 3k, and city says i owe 6.5k originally 2.4k, washington is now about 4.5k originally 1.8k those 3 are my highest and all three wouldn’t agree for nothing lower then what they say i owe. all others agreed to a very nice settlement. I offered discover 4.5k , city 4k, and Washington about 2.5k to settle. Washington accepted 3k. but city and discover gave me a no and said that if i didn’t have the full amount they would just garnish my checks till its paid in full. At the time i was off work because my back started to give in. I had the doctor take some x rays and she told me that i had to take physical therapy for my back and should stay away from heavy lifting. Which means i cant do my job no more. So now i am unemployed and well luckily i still had that 9k i saved. Well now i am just fed up with them. I already ran out of money and my brothers and sisters are supporting me and i want to just file for bankruptcy and go to school and get my self a degree in business. Does anyone have any advise you can give me. Thanks in advance.

I also forgot to put this in. My brother was going to help me before when i was working he was willing to put in about 3k on top of my 9k so i could get out of debt. But now hes also low on funds and well i just decided to file for bankruptcy and hes willing to help me pay a lawyer for the process.

Also I am not really worried about the credit score part, i have 6 sisters and 3 brothers and well i learned my lesson and i made sure they learned from my mistakes and they are really thankful for my advise about credit cards lol and bank loans. They all have almost perfect credit scores and i had a big hand in getting them there. My sister offered me a position in a business she is opening and all i have to do is go to school for the position. She was actually the one that tried to negotiate with the credit card company’s on my behalf and she just told me to file since they wont accept a settlement.

I just want to see how many options are available for a situation like this. So i am open for any suggestions, advise, ect… from respectful people who can understand the situation. If you want to criticize, go right ahead too lol I want to here all your opinions.

The funniest part about this is they all want to settle now that i have no money. LOL I just think thats really funny.
hehe ya i already knew about that but i am safe from that too because my sister owns about 3 businesses and she is willing to offer me a marketing position. I am really good at it too i have been helping her with allot so i just want to get a degree in that field and go work for her.

Technorati Tags: 10 years, 9k, bankruptcy, brother, brothers and sisters, checks, credit card debt, credit cards, credit score, decent money, heavy lifting, judgments, lawyer, nice job, physical therapy, thanks in advance, x rays

Here’s my situation. I graduated from college in December 05 and believe it or not, I have not found a full time, good paying job yet. Yeah, I believe I just wasted money and energy on nothing.

Anyways, I’m working a part time job and make approx 0 a month. I have ,000 in credit card debt, most of which I’m still paying from when I was in college 3 years ago (books, food, so on) I have ,000 in student loans, ,000 in medical bills, and it seems everytime i make a payment, it goes to waste because the interests keep rising. I even pay more than the minimum payment. If a credit card is lets say minimum, I will pay about 5, but it’s still not good enough cause the interests will raise that back.

I can’t keep going like this. My credit score is crappy so I can’t get a consolidation loan to pay all of it all.

Would I be able to file for bankruptcy? I have tried everything to get out of debts. I don’t charge anything to my credit cards any longer, but it is still that bad.

What should I do?

Technorati Tags: 3 years, bankruptcy, consolidation loan, credit card debt, credit cards, credit score, debts, full time, good paying job, medical bills, minimum payment, money, part time job, student loans

when me and my wife were 15 we got married had a baby i didnt have a job nor did she so hospitol bills piled up we nerver payed on them either since we were so young again at 18 we had another child with no insurance and didnt pay any payments just couldnt afford it at the time now that were 28 yrs old we have good jobs but 470 credit score 30 judgements and 13 unpaid collections my wife does have 3 good standings on hers and also 30 judgements should we try to clear our ,000.00 in hospitol bills or file for bankruptcy..were not sure which will help us more……please help

Technorati Tags: bankruptcy, collections, credit score, insurance, job, jobs, judgements

So I have bad credit my credit score is 458, I experienced with credit cards right when I turned 18 no one told me what kind of damage they could do I am paying the consequences now. I am 25 going on 26 and I am considering bankruptcy. I have sat down and reviewed my debts and I am thinking that I can probably pay some but they are old from when I was 18. The last think that hurt my credit the most was a car that I purchased and had to let go it was repossessed, and I am now being sued. I have been stressing out so much about all this I will outline what I owe below and I would like advise about what I should do file or try to pay things little by little. I live pay check to pay check am a single mother and only make 10.00 and I only work 30 hours to 35 a week because I have doc appoints for my son or he gets sick or I have to miss work because there was no school and I can not afford a sitter. So please give me some advise I am young but I have already ruined everything I know that
bankruptcy will stay on my credit for 10 years but honestly I don’t think anything else matters . This is what I owe
Credit card 2000 capital one
Credit card 1000 verizon
credit card 500 exxon
credit card 800 walmart
apt 2000
apt 2000
repo 5000
medical 5000
These are all rounded numbers and I don’t know if I can really afford to pay this I have to go to court concerning the car in may please help need advise
These are all cards that have been closed and are on my credit everything is on my credit. I don’t have a hs diploma or ged so it’s hard to find a better paying job. I have tried looking for a second job but no one can work with my hours I work 9-6 every day. My current bills are
rent 640
light 150
food 200 month
gas 40 week
and thats not including emergencies such as doctors co pays meds, and personal necesities
I do have family but they always back out on me I have learned that I have to do everything on my own and I can not count on anyone but myself. I have not tried debt consolidation because I thought that your debts had to be current and mine are not but I keep getting collection letter and calls I keep changing my number and it’s getting old because I dont know how these companies get my new number I don’t even have a regular cell it’s pre paid, and where I live now my mom got me the apt i’m just tired of all this

Technorati Tags: 10 years, bad credit, bankruptcy, capital one, capital one credit card, consequences, credit cards, credit score, debt consolidation, debts, doctors co, emergencies, exxon, exxon credit card, hs diploma, necesities, second job, single mother, verizon credit, walmart