When To File Bankruptcy » family member

Car with no title after bankruptcy…what should we do?

admin — Wed, 06 Apr 2011 00:01:42 +0000

Hi!

We filed bankruptcy last year. It was final in October and we’ve been doing great ever since-staying on budget and living within our means, cutting expenses-we even moved to a smaller place to save money.

We let a car go into the bankruptcy..but here’s the thing. They won’t come pick it up. They said it’s not worth it to them so when I asked if they would send me the title so we can get rid of it, they said no. So, we have an unused car (we let it go because it needs like 00 in repairs and among other debt we had, this vehicle and payments were burying us financially) that is just sitting here collecting dust.

We thought about selling our paid off car (my husbands work vehicle-old..probably get maybe 00 for it) and putting the money toward fixing up the Kia Sorento and re-registering and insuring it….but we’d much rather sell it if possible but without title I think we are stuck.

I talked to our attorney and she said that there are no laws after the bankruptcy that would force the lender to release the lien and title.

Is there nothing else we can do?
Angel
Just a note…we will never be able to pay off the lien…the loan still had a balance of a little over k…no way can we pay that off…..:(

I wonder if we can "rent" it to someone…like a family member that needs a car? But then if they got in an accident we’d be liable, huh? Just trying to think of ideas….
Sorry…more details!

We live in California (Sacramento County) if that helps. I like some of those ideas (mechanic’s lien and the storage idea).

Angel

Technorati Tags: angel, bankruptcy, budget, collecting dust, family member, kia, kia sorento, mechanic, money, sacramento county, storage

Filing bankruptcy?? Looking for tips from experience or knowledge.?

admin — Tue, 12 Oct 2010 09:37:41 +0000

What are the advantages and more so what are the disadvantages? I think i’m pretty up to date on the advantages, I hire a lawyer, he notifies companies I owe money, they have to write me off and can’t call anymore? Is that about right? As far as disadvantages I know it hurts your credit but so does defaulting on loans and credit cards, I owe about ,000 right now not counting my 2 car loans, and what happens with those, it won’t pay off your cars right? But it won’t hurt what you already have set up will it? I try to look stuff up online but can’t find any real help because it just pops up a bunch of debt consolodation companies and I already talked to one of those and realized it was only gonna save me about a month and stretch out what I already owe longer! Thanks for the help and ideas:)
my grandmother filed years ago and the lawyer was able to get everything written off and they kept their home and truck so I was under the understanding that maybe there are different levels or branches of bankruptcy? It is very confusing and hard to get a straight answer it seems for my particular situation, I think I may try to call a lawyer today and see if I can figure it out a little better. I went from making .00 an hr to .75 an hour because of helping a family member and my hubby makes about 0 to 00 less per week then he was making so that’s why we are in such a bad spot now, and there are no good jobs around here right now trust me I have been looking and applying for something better for over 6 months now.

Technorati Tags: bankruptcy, car loans, cars, credit cards, debt consolodation, family member, grandmother, hubby, jobs, lawyer, money, straight answer

Should I try to negotiate paying off credit card debt and doctor bills?

admin — Tue, 12 Oct 2010 04:49:34 +0000

I have a little over ,000 in credit card debt between my husband and myself on six different cards. Of those cards all of them are above 20% interest rates. The highest balance is 00. 8 ½ years ago I had to file for bankruptcy before I married my husband because of a car I was duped (very long story and this was the only thing I filed) into signing for, thus I cannot file bankruptcy. We also have 00 in hospital bills we have accumulated in the last year we are paying on sporadically when I can make payments. They were 00. I am about to have a baby in July, which means I will be on maternity leave for two months with a reduced income. We are having problems making payments on our bills now because we are overwhelmed. Prior to, financially we were doing ok, but we had some unexpected expenses come up and we previously had gotten lots of overtime at both our jobs which has been cut due to the economy. I just obtained 00 from a family member I do not have to pay back and I am having a hard time deciding where to put this money towards. A few of the doctor bills have threatened to send us to collections even though I am making payments when I can. I figure credit cards are best to put the money towards because of fees, credit report problems and interest. I have only been about 10 days late on one of the 6 cards and maybe 16 days late on another one, thus none of them show up late on my credit report. I manage to make payments, but barely. Late fees have been racking up though because I may pay a week late here and there on those two. Here are my primary questions after hearing my story…

1) Should I try to negotiate lowering my debt on the credit cards and doctor bills so I can get them paid off although I am not really showing up late on my credit report? Will they work with me if I am going to pay off the balance? I figure it is pointless to negotiate interest rates if my point is to pay it off…
2) Should I pay off the highest balance of 00, which also happens to have the highest interest rate and then put the rest towards doctor bills or the next higher interest rate card, which the balance is more than what will be left over? Or, should I put the left over money towards paying off the lower credit card amounts and the 00?
3) I have read that if I negotiate lowering my pay off amount with credit card companies then it will affect my credit and this is what I am worried about primarily. Has anyone had any experience with this?
Thank you ahead of time!!

Technorati Tags: 8 years, bankruptcy, collections, credit card debt, credit cards, credit report problems, doctor bills, economy, family member, hard time, hospital bills, interest rates, jobs, late fees, maternity, money, overtime, story 1, unexpected expenses

Bankruptcy in MN – New car?

admin — Tue, 21 Sep 2010 00:01:23 +0000

I was unemployed for about 4 months earlier this year. During that time my car payments as well as other payments fell behind. I have been trying to catch them up, unfortunately when I got my new job I took a massive pay cut and can no longer afford the payments. Last week my car got repo’d. I would have to come up with 00 in order to get it back as well as figure out how to manage the payments on top of my other past due bills. This has proven nearly impossible if not completely impossible. Therefore I am going to attempt to file bankruptcy. However, I am borrowing 00 from a family member to buy a 00 vehicle (like i said i live in MN and walking everywhere is very cold). But my question is this: If I do go get this car before the bankruptcy is filed, will they take and sell the car to try to pay off the debts? Or should I just put it in a friend or family members name till the bankruptcy is filed and over-with?

Technorati Tags: 4 months, bankruptcy, car payments, debts, due bills, family member, family members name, new job, repo

You know when you add a user on your credit card?

admin — Sat, 18 Sep 2010 20:27:56 +0000

Well I added a family member onto two of my credit cards and now am smothered into bankruptcy. Will this person have to file bankruptcy too? Will the debt collectors go after him after I file?

Technorati Tags: bankruptcy, credit cards, debt collectors, family member