How hard is it to file bankruptcy?
How far do they go back and erase debt? How long do I have to use only cash? Basic questions… Any insight will help. TY
Posts Tagged ‘insight’
My ex filed for bankruptcy and his name is secondary on my loan…will they repo my car?
He filed Chapter 7 bankruptcy with his wife this past fall. While we were married, we bought the car I am driving now, I am the primary borrower, he is the secondary. The title says me OR him and he was not required to sign in order for me to register here (I moved out of state for a year after the divorce then came back). I tried calling my leinholder (Chase) but they won’t refinance and my credit now sucks because I was out of work (right when I moved out of state) due to a broken leg.
I have been making my payments on time (for the last year almost) but am too scared to call Chase and ask them. I realize I should ultimately call a lawyer but figured I could gain some insight here. I have gotten a few notices from his laywer, listing myself along with the rest of his creditors. He owes me nothing – and in our divorce the papers say we were to take the cars we were presently driving, but neither was listed by make/model etc.
Can/will they repo my car? PS – I live in NH.
I was thinking perhaos because his name is also on the loan they’d take it…
Does Chapter 7 Bankruptcy discharges lien hold?
I went to collections for 3,000 credit card had a lien Hold on my Car registration and now I cannot renew after a few months. I declared Chapter 7 Bankruptcy and got the discharge. I called the collections company and they told me that the lien hold will stay because I got it before I declared chapter 7. Please Help.. Will like more insight on this.
Chapter 7 Bankruptcy or Charge Off Credit Cards?
I have a friend that has over 000 in credit card debt.He makes approx/ 000/year.He has conferred with an attorney who has told him he needs to file Chapter 7 bankruptcy.Would it be better to file bankruptcy or charge off the credit cards?Which one would take the shortest timeline to be removed from his credit ?He just can’t continue at the rate he is going now ,trying to pay the minimum payments on his cards and pay other debts as well(mortgage,auto,utilities,etc)He is desperate and needs some insight.
Bankrupcy and foreclosure question; When filing bankruptcy, should we go into foreclosure as well?
This may be a dirtball question, but here goes; we are filing for ch. 7 because of excessive debt and cannot afford the expenses of our present home. We are current on our mortgage and our bills as of today, but in no way can keep it up (borrowing from Peter to pay Paul basically), we will need to find alternative housing(renting) and incur moving expenses and have no savings or cash on hand to do so, my question is, is it so horrible to stop paying crediters and our mortgage and just let it all go if we are going into ch. 7 anyway? And use the monies saved to pay for moving and renting expenses ?Our home has no equity and we are well aware that our credit will be devastated for a 10 year period. Sadly, we really do need to start from scratch or a clear plate due to poor judgement and unforseen circumstances. We are hiring a lawyer for the filing process, but have many unanswered questions that we are a bit embarressed to ask him, such as the one above. Thank you for your insight.
Has anyone tried an online bankruptcy service?
I am considering using easybkservices but am hesitant that maybe I should use a lawyer. The problem is the lawyer wants to charge around 1700.00 if I had that kind of money I would not have to file. Does anyone have any insight on this?
I have a car I’m upside down in, will a bank negotiate a new balance if I go into bankruptcy?
My loan balance is ,000 on my 05 Pacifica. I am an auto dealer and I can run auction reports and I know the car sells for 10,000 in the auction. Do you think Wachovia will negotiate a new loan based on what they will get for the car in the auction? The alternative is to throw the car into my bankruptcy and give it back anyway. Anybody have any insight on this?
Filed Bankruptcy or pulled yourself out of debt?
I’m considering filing for chapter 7. Long story short, I went back to school, have damn near lost everything and gained K in student loans, K in credit card debt and a K mortgage and I can barely keep my head above water. There are other factors too, but I’m trying to get myself back on track financially before getting married (my boyfriend and I have been together for almost six years). I’m 33, not some young pup, I know all the pros and cons, but since hindsight is 20/20, please tell me how it worked out for you. Whatever path you chose, are you glad you did it? Would you do it again? What suggestions do you have?
I’m scared and not sure which direction to move in. Any insight would be helpful. And remember the cardinal rule: if you can’t say anything nice, please don’t say anything at all. I don’t want someone to give me a false picture, but I also don’t need someone else telling me how terrible I am. I have creditors who call me every day to tell me that.
I did get a degree, but I’m a teacher, so my income is pretty fixed (as far as not being able to ask for a raise, negotiate, etc.), and with my own children in school I can’t move into a district that pays more at this time.