We owned a house, two cars and 1 credit card together. We leased to own our house and relocated to another part of the county. I had yet to find a job when our tenants bailed on their contract and ex-hubby cheated on me.

I moved in with a male friend and it took awhile find a job. I could not afford to pay for our mortgage, cars and credit card in time. He refused to sell or rent out the house, but would not pay on it either. I did not have the money to bring him to court before the house got forclosed on. So we lost the house, the cars have been repossed and the credit card charged off.

I am now looking to try to repair my life and possiblly buy a home in the future, but I don’t know where to begin? Should I file BK? I can’t afford to pay back the money.

Technorati Tags: bk, credit card, hubby, job, male friend, money, mortgage, two cars

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

Here is my story.
I am a 27 year old married mom of 2. Hubby is bipolar and can’t work. I have a few medical ailments that prevent me from working much outside of the home.
We have about ,000 of debt. Counsumer credit card, past utilities, medical expenses, etc.

We WANT to pay them off. Our problem is we don’t know if we should work with a debt consildation program or simple file for bankruptcy. Our income fluxuates from 0 a month to 00. We live in Ohio. Our rent is 5.00. We have no car payments. We own a 1982,1992,1993) We never go out to eat, go to movies, I am wearing the same clothes from when I was 18. Trust me, there is no way to cut back on anything.
I am just not sure if we can even afford to come up with a debt consilidation plan given our situation and income limits. Would it be better both emotionally and financially to just wipe the slate clean? Thoughts/Tips/Appreciated…stinky butts need not answer! THANKS!

Technorati Tags: bankruptcy, bipolar, butts, car payments, clothes, credit card, debt consildation, debt consilidation, fluxuates, hubby, medical ailments, medical expenses, mom, stinky

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

My hubby makes ,000/year, but over the past 3 years, over 60% of his income has been going towards debt payment alone, meaning we have been living EXTREMELY TIGHT for 3 years now. We are now only down to ,000 and my husband is thinking about filing NOW, after all we have already paid off! Is filing worth it?

We will be talking to a Bankruptcy attorney about this on Wednesday, but I just want to know now, if anyone has any ideas.

Thank You!

Technorati Tags: 3 years, bankruptcy attorney, debt payment, hubby

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.
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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

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

do you have to have a certain amount of debt to do it? What happens in a bankruptcy? If my hubby goes bankrupt on all his bills will it affect me in a negative way? I am not going bankrupt on any of my bills. Whats the process to do this?
the accounts are in his name only, he had them before we were married. and I don’t have any bills but my car and it’s only in my name..

Technorati Tags: bankruptcy, hubby

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

Me and my hubby had a bank account through US Bank years ago and they really did a number on us. We were young and dumb and overdrawed the account. I still today believe it is partially their fault since they are a crappy bank. Not gettin into the story…but we werent "valued customers" and when they changed a policy we werent notified. Im positive I could have fought this and WON..but again, young and dumb. But since then we have gotten back on track with most everything except our past debts. We are filing bankruptcy on those few things that we just cannot fix with our means. Its just holding us back longer then we would like so we decided to file. How quickly can I open a different account somewhere else? Or is this even possible? I hope it is for the sake of my business Im going to start. Any great bank suggestions…and NOT 5/3 or US bank. Thanks!!

Technorati Tags: debts, filing bankruptcy, great bank, hubby, sake, us bank

Hubby is about to file bankruptcy, we are considering adoption in the future. If we start the process next year will be declined due to filing Chapter 13? We have a 3 bedroom home (which we will be keeping) and no children. I have had my job for a year now and hubby has been at his for 2 and a half years now, if that matters. Also, we are wanting to adopt a child that is in the system

Technorati Tags: adoption, bankruptcy, chapter 13, half years, hubby, job

Hi, My hubby and I are struggling to pay our bills and we are 27,000.00 in unsecure debt. I am thinking about filing bankruptcy because Ive had these credit card balances for over 5 years and nothing is getting paid down and as a matter of fact the balances are getting higher. I am struggling so much and all I do is eat ham sandiwches everyday for lunch and take hammy down clothes and live in a old trailer. I’ve reached the end of my ropes today when I had to go to a mechanic shop they wouldn’t let me leave b/c my tires were splitting apart and I had to end up owing the mechanic shop for tires. So which should I do, my credit is already screwed so I’m thinking bankruptcy

Technorati Tags: clothes, credit card balances, filing bankruptcy, hammy, hubby, lunch, matter of fact, mechanic shop, ropes, tires

My hubby and i are going to file bankruptcy and i sell used items and such on many different sites. Do i need to show them and claim the money i receive in pay pal? If so, can i maybe put it in a child’s name, who is a minor?? Thank you for your time
So why would i have to claim money made at a rummage sale??? Why would that be fraud?? Its the same think as selling on ebay. Why should i claim selling my junk?? Please explain.

Technorati Tags: bankruptcy, ebay, fraud, hubby, money, pay pal, rummage sale

We filed for Chapter 13 to protect the house in Foreclosure. Due to unforeseen circumstances, we may have to let the house go back to foreclosure and change Bankruptcy to Chapter 7 – what happens in a 7? What can the courts/creditors take from you if you owned a home that was lost? Hubby is worried the courts can come in and take everything – like collections and TVS, etc.
Do you have a Chap 7 story to tell – good or bad?

Technorati Tags: bankruptcy, chap, chapter 13, chapter 7, collections, creditors, foreclosure, hubby, tvs, unforeseen circumstances

my husband filed bankruptcy when he was married to his exwife and we are trying to find out when he filed but on his credit report it has no date on when he filed. what does that mean? it says it was discharged but thats it. i would also really appreciate advice. im not asking for anyone to judge me or my hubby so could we please keep our judging comments to yourselves. thanks

Technorati Tags: bankruptcy, credit report, exwife, hubby