I have a ton of credit card debt due to divorce, unemployed;credit in toilet; need to file bankruptcy but…I dont even have the money to do that; I have a 2004 cherokee and dont owe anything on it and would take a loan on it to pay bills and get the money to file bankruptcy but dont know if I am allowed to do that; i am unemployed right now; last year i made nothing basically; have no idea how i have even made it; stopped using credit cards nine months ago; what can i do; the grand cherokee is worth like 7 to 8k it only has 55k miles on it; i just dont know what to do; i want to just get my bankrputcy out of the way; a year ago my life was perfect now its in the toilet; barely even getting by; on food stamps; severely depressed; my precription is like 200 dollars a month and now i cant even pay that; i am 36 and make no money and have not for a long time; have no idea if there is anything out there that will help me; i put in applications and resumes in all day long; its so frustrating; now without my script i will be even more depressed and things will only get worse; i wish there was some short term presription help; my doctor charges 50 dollars a visit and i am down one payment with him; if anyone knows about bankrputy or what i can do; i dont want to get one of those 1 month loans and pay 300 screw that; i cant lose my car; plus i dont even know if you can do that when you are about to file bankrputcy i just dont know what to do anymore anyone with advice and not some stupid spam also i have a mortgage on a small condo and am not behind yet because i have a roommate; last year my brother killed himself; my best friend died a month after that and my wife cheated on me and got pregnant and i got divorced; its like can anything good happen; i have never collected any unemployment because i started my own business so i was self employed; i just dont know
i looked into gettng low income but unless your house is in foreclosure or your car is in foreclosure than they wont help you no matter how low your income is; your house or car has to be in foreclosure or about to get your car reposessed for legal aid to do it and i would have no idea on how to file bankrpuctcy; i have no idea

Technorati Tags: bankruptcy, best friend, brother, credit card debt, food stamps, foreclosure, grand cherokee, loans, long time, money, mortgage, nine months, own business, resumes, roommate, screw, spam, toilet, unemployment, using credit cards

I am 25, married, and own a small home. Due to very slow payment (I pay mortgage with student loan monies when they arrive), my house is going into foreclosure. I also have a lot of debt from medical expenses, and hubby has major debt (car, credit cards) from his teen years.

I have enough money to reinstate my mortgage without filing some type of bankruptcy. However, that would leave me with no lump sum of safety money. I do work, so I could feed myself – but I never seem to have enough income to pay for regular expenses AND my mortgage. So, if I don’t file bankruptcy and I catch up/reinstate my mortgage…I know I’m going to fall right back into the "non-payment" category again.

Is catching up my mortgage better than filing bankruptcy? What about the other debts that I have? How is credit affected?

(I’m going to grad school, so I have many years of being a poor college student left. I just need to know what I should do about my house and other bills in collections)
Husband is college student too. Together our income is still VERY tight on making all payments on time.

Yes we have cell phone – but no cable/internet/home phones. I don’t know what else to cut.

Technorati Tags: cable internet, car credit, cell phone, collections, credit cards, debts, filing bankruptcy, foreclosure, grad school, hubby, loan monies, lump sum, medical expenses, mortgage, poor college student, student loan, teen years

I have defaulted on my mortgage & my bank has refused to modify my loan & they are now threatening foreclosure. I have an additional ,000 accumulated in debt. I decided to file for a Chapter 13 but I’m now seriously thinking of withdrawing from it. I don’t want a bankruptcy record on my credit I know my credit is worthless at this point but I think it’s worse when you have a bankruptcy on your credit. Should I just walk away from my home & let them fore close it? Should I file a 13 & stay in my home which is way ‘underwater’—I owe more than the home is worth. Do I have a better chance starting all over again & try to "fix" my credit without a bankruptcy hanging over me? I’m so confused I don’t know what to do? HELP!!!

Technorati Tags: bankruptcy record, better chance, chapter 13, foreclosure, home amp

I am 25, married, and own a small home. Due to very slow payment (I pay mortgage with student loan monies when they arrive), my house is going into foreclosure. I also have a lot of debt from medical expenses, and hubby has major debt (car, credit cards) from his teen years.

I have enough money to reinstate my mortgage without filing some type of bankruptcy. However, that would leave me with no lump sum of safety money. I do work, so I could feed myself – but I never seem to have enough income to pay for regular expenses AND my mortgage. So, if I don’t file bankruptcy and I catch up/reinstate my mortgage…I know I’m going to fall right back into the "non-payment" category again.

Is catching up my mortgage better than filing bankruptcy? What about the other debts that I have? How is credit affected?

(I’m going to grad school, so I have many years of being a poor college student left. I just need to know what I should do about my house and other bills in collections)
SideNote to a response on student loans: Student Loan money can be used for any of the following reasons, not limited to: tuition, educational supplies, food, housing, clothing, misc. necessities / personal items, technology purchases (hardware & software), etc. My lenders are VERY aware of the fact that I am investing in my future by paying for current expenses with loans. Hence, the reason that most lenders always mention "housing or room & board expenses" and are very inclusive on those types of expenses.
——-
Forget to add: Hubby is also college student (not a bum in case you’re wondering).
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Again, mostly just wanting to find out which Bankruptcy would be beneficial considering my other debt.

If I pay up the mortgage/reinstate – how long will it take of on-time payments to have good standing / good credit again?

Technorati Tags: amp board, board expenses, bum, car credit, educational supplies, filing bankruptcy, foreclosure, grad school, hubby, items technology, loan money, loan monies, lump sum, medical expenses, necessities, student loan, student loans, technology purchases, teen years, time payments

I live in Michigan & recently went through a divorce, foreclosure, and was laid off at work. For the past year, I have been unemployed & then am currently temping.

My ex-husband declared bankruptcy and basically, our second mortgage wasn’t foreclosed on (it was a different bank than the first mortgage) and that entire balance is now my responsibility. It’s over ,000. I was served last summer and then in Feb 2009 my MI State Income Tax refund was garnished. Now, I received a writ of garnishment from the court and it was sent to me FROM my old credit union. THEY were served with papers on 6-18-09 and thankgod, the account was CLOSED so they could not pull money from the account.

I am fearful that now, they will get to my CURRENT bank & possibly my staffing company where I work.

I checked my current bank acct. and there is still a positive balance but what should I do? Close this account?

NOTE: I secured a bankruptcy attorney and paid in full within the first week. I was given a first draft and returned that to them over 3 weeks ago. I am awaiting a SECOND draft. It has not yet been filed with the courts. Am I not protected yet? Any advice would be appreciated. Thanks in advance

Technorati Tags: acct, amp, bankruptcy attorney, divorce, first draft, first mortgage, foreclosure, income tax refund, money, second mortgage, staffing company, state income tax, state income tax refund, thanks in advance, writ of garnishment

It took the lawyer and the court system to actually finalize (discharge) the whole thing in September of 2007. In the meantime, our home was foreclosed on, which was included in the bankruptcy. Now it is impossible for us to buy a home for our family until the foreclosure has been 3 years or more. We didn’t want to file bankruptcy, I mean who really does, but I lost my job when my company closed and his (husband) paycheck couldn’t cover enough for us to keep our home. The bankruptcy isn’t what’s hurting us, at this point. It’s the foreclosure. Is there anything I can do to appeal the existence of this foreclosure on our report since it was the lack of filing in a timely manner by the lawyer that caused the process in the first place? Or is there any way around the foreclosure to purchase a home?
I’m not looking to sue….The lenders are the ones telling us that the bankruptcy is not the issue. Our credit score is good, we have established credit again, in good standings, just like before. We were never late EVER until the bottom fell out 3 years ago. Divorce was on the horizon….we have 2 children…I could go on and on. All I am asking is why is it that the foreclosure is so much more detrimental to our report and ability to get credit than the bankruptcy? we were trying to buy a house before the market went back up and we can’t afford it…….that’s what we have been advised to do by our lawyer. Is that not right after all?

Technorati Tags: 3 years, bankruptcy, court system, credit score, divorce, existence, finalize, foreclosure, horizon, job, lawyer, lenders, paycheck, timely manner

I have a villa which is going through foreclosure (since Chase Bank wont approve my deed in lieu – but that’s another story)…I’m also trying to open a Professional Organizer business which normally doesn’t require too much money to open. Anyway, I heard that filing for bankrupcy is a good idea when going thru a foreclosure but I was wondering….Can I still open the business? I was going to apply for a government grant instead of a loan. And I already have two bank accounts which one I can use for the business.. Serious comments are accepted..please help. I dont know what I should do.

Technorati Tags: bank accounts, chase bank, deed in lieu, filing for bankrupcy, foreclosure, government grant, much money, professional organizer

Ok, so unfortunately we are so far upside down on our house because of this crappy economy…and not to mention there is a TON of work that needs to be done on our home. We bought the house 2.5 years ago and were blindsided by the crap that has happened to it! It needs about 20K worth of work done to it, so even if we could fix it we would never get the money back out. The neighbor hood has gone down hill really bad…drug dealers moved in next to us, a sex offender behind us, and we are on a MAJOR road, which was ok when it was just my hubby and I but now we have a baby. my question is, is filing bankruptcy just slowing down the foreclosure process..meaning if we file to get out from our house (have been told foreclosure is worse than bankruptcy by 4 different ppl) are we filing to get rid of our debt only to have the house foreclosed on anyways? No bashing please trying to make a hard decision for our family. We dont want both on there. Thanks for all the help!

Technorati Tags: crap, economy, filing bankruptcy, foreclosure, hubby, money, neighbor hood, ppl, sex offender

Why are you moving from your current home and we are filing bankruptcy and foreclosing on our home…what should we say? We officially file tomorrow and and the foreclosure has not been given a specific date but we are going to look at a rental and want to be as upfront as possible. The initial "bankruptcy w/ forclosure" is an answer that might turn anyone off. How can I explain that we are lookingfor a fresh start and have good jobs w/ personal references that could back us up. We’ve owned two homes in our current city and fell into the "subprime" fallout (like many others) with our current home.
OK, as not to offend the Realtors…we were given a 30yr fixed loan which no lender would touch at this point in time to refinance because we did have a high income to debt ratio. The "fallout" did not help our situation.
Yes, we do take blame but I’m not asking YOU REALTORS OR LENDERS SO BUG OFF!!!!!!

Technorati Tags: current city, fallout, filing bankruptcy, forclosure, foreclosure, fresh start, income to debt ratio, jobs, lenders, personal references, point in time, quot, realtors

How would you solve our foreign diplomacy problems? Bomb all of our enemies? Do we start nuking Korea, Iran, Iraq, Egypt, Pakistan, Palestine China. Would that solve it? Then what do we do with all those dying people?

How would you solve our financial problems? Let every company now fail, and all the banks fail? GM fail, all housing in foreclosure, and all people on the streets?

How would you solve our health care problems? (One in four bankruptcies is now caused by inability to pay medical costs). Would you just turn away anyone and everyone who is dying if they cannot pay? If they are in a car crash, do we let them die in the wreckage if they cannot show a medical insurance card?

I find lots of you on here are big to criticize, but I find no real alternative solutions.

Take one of these and discuss it.

Technorati Tags: alternative solutions, bankruptcies, banks, bomb, car crash, diplomacy, egypt, enemies, foreclosure, gm, health care problems, insurance card, iran, iraq, korea, medical costs, medical insurance, pakistan, palestine, wreckage

Hey everybody,

I’ll be 23 in a few months. I’ve already been married & we bought a house [but due to a pipe busting in the winter & causing a ton of mold & then five trees falling on the house in a wind storm that the insurance company did not want to fix], the home ended up going into foreclosure. The loan was not in my name, however my name was on the deed. I’m not married anymore & the last time I checked my credit, the house did not show up but, I think that was before it was actually foreclosed on.

He & I have two credit cards [probably 00 of debt total] that I have to pay half off of [so, about 00 right there.]
Then I have a Kohls & Macys card [about 0 total].
Then I have three other items that are not credit cards that come to about ,050.

Total, I have just a little under ,000 worth of debt which I know doesn’t seem like much but, after I deduct all my bills, I don’t have much money left. Things keep popping up left & right like medical expenses & tires for the car, etc & whenever I think I’m starting to get ahead, I end up even further in debt. I already have two jobs, I already save as much money as I can. Every bit of debt that I have has already gone to collection agencies so I can’t go online & pay on anything.

I’m just wondering if [since my credit is already horrible] I should just file for bankruptcy. If I did, would the foreclosure still show up [assuming that has affected my credit]? Would it be easier to rebuild my credit after bankruptcy or repair it by paying everything off? If bankruptcy is my best option, how long will it affect me? Will I be able to rent an apartment? What if a few years from now, I want to buy a house or condo? If bankruptcy is not my best option, is there any programs that aren’t scams that I could use to consolidate or something? Not sure if this makes a difference but, I do have a 2007 car that I bought brand new. I have three years left of payments & I’m current on it. I’m thinking about trading it in for a vehicle with AWD.

Serious answers only please. I’m trying to figure out what steps that will help me further myself faster. Thanks in advance.

Technorati Tags: amp, apartment, collection agencies, credit after bankruptcy, credit cards, foreclosure, insurance, insurance company, jobs, kohls, last time, medical expenses, mold, scams, tires, trees, wind storm

Okay we lost a home due to foreclosure and have been informed to file bankruptcy on this debt before they try to take wages. Exactly what happens when you do this? Someone told me they will auction off your furniture kids toys anything you have pretty much. Including you won’t get tax returns for the next 3 years, it will all go to creditor. Is this correct? Any advice or anything else valuable to know? Thank-You so much in advance.

Technorati Tags: 3 years, bankruptcy, creditor, foreclosure, furniture, kids toys, tax returns, wages

When I called and asked what happened, They told me that all necessary docs were filed and they have copies of everything that was filed and the copies show the court stamp as being filed, even the doc that the court said was not filed.
Then I was told that it was a court error. She told me she spoke with the court supervisor and was told that even if it was a court error,if i want to refile, I have to pay the full filing fee again.
They want me to pay for refiling, I disagree it is not my fault that the court files are incomplete.
Can the court make me start all over even though we can show them a copy of the missing doc which bears the courts "FILED" stamp?
Since I paid the lawyer to do the filing isn’t it the lawyers responsibility to guarantee her services since I provided all the information necessary for the filing? Isn’t it her responsibility to pay the filing fee to start the process all over again? Or should the court have to accept a copy of the "FILED" missing doc to complete the file and reopen the case without charging the full refiling fee/
this mistake
My lawyer has told me that I have to pay the filing fee again even though I am filing BK because I can’t pay my mortgage, I am in foreclosure, and I am currently not employed… I need what few $ I have.

Technorati Tags: bk, court supervisor, docs, foreclosure, lawyer, lawyers, mistake, mortgage

I purchased a Condo in Florida (investment property) at the height of the real estate market. The purchase was made with a friend as a joint owner. As luck would have it, my partner lost her job a couple of years ago and cannot pay her half anymore and is proceeding into bankruptcy.

Obviously, I am liable for the loan and am searching for any alternatives, either short term or long term. The Condo mortgages along with my personal residence mortgage is 48% of my gross pay. At this rate, I’ll eat up my savings within six to nine months. I am current on all payments. The value of the property was financed at 90%, with a mortgage and HELOC. Both are interest only loans. The current value of the property is 72% of the loan amount.
This means the value of the property is currently about 65% of what we paid.

We have been renting the unit as a vacation rental, but only have been able to rent it about 25% of the year. It generates enough income to cover about 20% of the cash outlay. Long term rental prospects are slim.

Any thoughts on how to either keep the property and minimize damage or is foreclosure an option I need to consider down the road? Is a loan modification possible, even on investment property? My credit score is very good at 805, so I guess I would sacrifice that as well.

I’m not looking for an easy way out, I just want to understand all my options.
thanks
The condo is in Panama City and I am working as an engineer in Georgia about 350 miles away. So, a business in the unit is not really an option. I guess another investor is an option. 50% ownership at 25% of the cost. That may work.

The the intent was to rent about 200 days a year, however, the rental market in this area was saturated with new condos, thus only able to rent about 3-4 months a year at best. Additionally, the with the hurricanes several years back, the insurance and property taxes more than doubled, which was not anticipated.

Technorati Tags: 4 months, bankruptcy, cash outlay, credit score, current value, engineer, florida investment, foreclosure, gross pay, hurricanes, interest only loans, investment property, loan modification, new condos, nine months, panama city, personal residence, property taxes, prospects, vacation rental

Last year at this time my credit score was 750, but over the past year I have had some financial crisis and am very deeply in debt. I talked with a lawyer today and I understand the difference between chapter 13, and 7. My question is, other than the obviouse destroying my credit, how will filing chapter 7 affect me? Will I ever get a credit card again? Will I lose my atm/debt card? Will I be able to rent a house or apt after my foreclosure? Please, anyone who has any experience with this, any info would help.

Technorati Tags: atm, chapter 13, credit card, credit score, debt card, filing chapter 7, financial crisis, foreclosure, lawyer, obviouse

When a person files for bankruptcy,do the credit card companies/ banks (or any other institution that person may owe money to) collect on the debt? For instance, if John has acquired ,000 in Credit Card debt. Once he files bankruptcy, does the Credit Card Company lose out on the money or does it some how acquire some or all of it? Is foreclosure and seizure of property after bankruptcy done for the purpose of paying off any debt?

Technorati Tags: bankruptcy, banks, credit card companies, credit card company, credit card debt, foreclosure, money, person files, seizure

Ok, I am having a hard time finding the answer I’m looking for, hope someone can help. My hubby and I do not want to foreclose on our home, nor do we want to do a short sale, as I hear a short sale is every bit as bad if not worse than bankruptcy. We have a second mortgage as well. If we file bankruptcy and put the house in with that, approx how long will we be able to stay in the home before we get kicked out, and how do they do it? I don’t want them to come and slap a yellow sticker on the window like they would in a foreclosure and make it obvious to the neighborhood that we defaulted on our mortgage. Does anyone know how long we will be able to stay, and what will happen to the house when we are forced to leave?

Technorati Tags: bankruptcy, foreclosure, hard time, hubby, neighborhood, second mortgage, yellow sticker

I walked away from my home in Michigan ( prop val. fell from 140k to 65k) and bought another home outright….. the bank has not come after me yet and I have not made a payment in 5 months nor have they foreclosed…… I know the foreclosure is coming and probably a deficiency judgement but I plan to file bankruptcy if they do…… but my question is…… the mortgage was in my name only and I have all my money in cash in a safe and would like to open an online trading acct. and put some money in the market in her name……… would it be a wise thing to do? Even though we are married , can the bank come after anything she has in her name even though her name was not on the mortgage?

Technorati Tags: 5 months, acct, bankruptcy, deficiency judgement, foreclosure, money, mortgage

We had 2 loans and our house went to foreclosure. When I called to the second loan, they said that since it wasn’t foreclosure sell – house belongs to the bank, we are still responsible for the second loan. It still a lot of money. We signed the deed when we took the loan and we didn’t ask for transfer, only for sell. What should we do? We really don’t want to file bankruptcy.

Technorati Tags: bankruptcy, foreclosure, loans, money

When filing Chapter 7 bankruptcy, if you check that you are surrendering your home to the bank, can they come after you for whatever is still owed after the foreclosure and re-sale of your home? Or is any debt associated with that mortgage discharged?

Technorati Tags: chapter 7 bankruptcy, filing chapter 7, filing chapter 7 bankruptcy, foreclosure, mortgage