I have a few credit cards and a car payment in a debt consolidation. It isn’t moving as fast as I would like. I haven’t had or driven the car for 3 years. The car loan is under my and my sister’s name. How would it affect her if I where to file bankruptcy?
The car has been totaled out and sold at an auction. The insurance didn’t pay.
when researching debt consolidation it sounds like the same thing but not literally being called "bankruptcy" can someone tell me the difference?
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
Like most Americans, I’m in debt. I’m a student with a part-time job and I’ve sunk into some pretty nasty debts. I have medical bills to take care of, as well as other other stuff. I’ve read a bit about debt consolidation and lots of sources say it’s pretty much a scam (you’re not eliminating the debt, you’re just moving it). I don’t think bankruptcy is a good idea.
What can a college student (undergrad) do to eliminate 00+ debt? Are there loan programs that just give you money and a few years before you have to start repaying it? Are there other alternatives?
I’ve decreased personal expenses to pretty much nonexistant. I don’t really buy clothes and food and such and all of my expenses are either medical bills, textbooks, or a monthly laptop payment.
I am caught between debt consolidation and filing for bankruptcy. Either option negatively affects my credit – so does not doing anything. Also, I am concerned that I will not be able to pay off my debt through consolidation.
Hey.. I was unemployed for 8 months and got very behind on all my bills, credit cards, loans.. etc..
I have collection agencies and debt collectors calling me at least 15-20 times a day trying to get there money (everyday all day).. I am about to file bankruptcy to get out of this mess.. I tried debt consolidation, its a joke.. My question Is when the creditors call me should I tell them im in the process of filing bankrptcy OR WILL THAT CREATE MORE PROBLEMS , SUCH AS WAGE GARNISHMENT OR SUEING ME ….
A ‘For-Profit’ COmpany based in Texas, helping people with financial debt consolidation. I’ve heard, that its a great alternative to filing bankruptcy. Looking to manage/consolidate debt, and NOT have to file for bankruptcy–which can ruin my credit
Thanks Jeanne R. I guess you’re my only answer…
I am confused as to what to do – my husband and I recently reconciled and between the two of us, we have ,000 in unsecured credit card debt. Although he makes very good money, approx. 00 per month, we cannot keep up on all the minimum payments for these cards, let alone trying to pay the principal.
He has a car payment and we own our house (or we will in 27 years anyway 
– we have not been late on the mortgage as that is our top priority. We also have 4 kids…… should we file? We figure since we have the house and vehicles that we can deal with the bad, bad credit that this will result in but are we forgetting something?
We considered a debt consolidation but we heard this is more often then not a scam and ruins your credit as much as or more then a bankruptcy. Any advice is appreciated ~ thank you.
Unfortunately all the late payments have resulted in a credit rating in the 500’s which is too low to qualify for a re-fi.
i have a credit card that i got behind on, now its been 2 years and a lawyer has contacted me t find out if i want to settle out of court or get sued. i tried debt consolidation but can’t afford the payments with them and they recommended i file chapter 7.
I cannot do debt consolidation. I would rather not declare bankruptcy. A dishonest ex-husband dumped his debts on me when he shocked me by divorcing me two years ago after 14 years of marriage. This was in TEXAS.
Does Debt Settlement restore your credit in fewer years than bankruptcy if your can’t afford debt consolidation?
I have really good credit. My fiance made some really bad decisions in the past and has terrible credit. (credit cards, overdrawn bank account car loan …..) We are buying a home . We are planning on getting married next year. I am wondering would it be better for him to consolidate his bills and us try to pay them off or should he just file banktruptcy? We plan on doing something before we get married. We dont have any savings and I have a child and he has three from a previous marriage that he pays support for. My concern about debtconsolidation is that we wont be able to make the payments with everything else we are having to take care of. How bad is a debt consolidation or bankruptcy going to look when we do tie the knot if I have really good credit. Also what kind of affect does that have if any on employment?
I am already buying a home so that is not an issue
I am also being told that chapter 7 and chapter 13 affects your credit in the same way and tat both stay on there for ten years
He no longer has credit cards or bank accounts. All of these things on his credit have been on there since before I met him. I asked for financial advice not for someone to make negative comments about bad decisions made in the past. As for having a budget we already live togather and pay all the bills togather We already have a home that we are buying.
We both work. Who doesnt?