I am in my last year of law school, still searching for a post-graduation job. When my parents filed for bankruptcy, they were allowed to stop paying on their home morgage (around 00 a month) under the Bankruptcy Code. This "automatic stay" has been in place since my dad filed, a total of 6 months. Hence, for 6 months my parents have been living in their house that is about to be foreclosed by the bankruptcy courts without paying a morgage. You think they would have saved money for moving right? NOPE. They don’t have a dime!
I am a LOT wiser with my money. I have a 00 mutual fund account, over 00 in savings, 2 jobs in which I place "extra" money in money market account.
They have paid my car note and insurance ever since I have been in law school. I feel that I should help them with their down payment on their new house but I am scared because they are not financially responsible and I need that money to pay for bar dues, bar classes, the bar itself, moving expenses, etc.

Technorati Tags: bankruptcy code, bankruptcy courts, dad, insurance, job, jobs, law school, money market account, moving expenses, mutual fund account, parents, post graduation

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

I just was watching news ticker on bloomberg channel and it says ”that oil is expected to rally/go up to or higher before mid-summer because of demand rebounding.What is all of this nonsense when we are in a global recession,people losing their jobs left and right,’’supposed to be conserving energy”,’’supposed to switch on to alternative energy & off-shore oil drilling”(what pres.obama promised in his campaign),auto makers possible bankruptcies and more possible lay-offs,people ‘’supposed to have been driving less”,and supposed to be buying small compact fuel efficient hybrid type vehicles.Were you’ll serious about carrying out these stuff or were these just empty threaths that played right into opec trap?
Will it be like 2007/2008 and wait until crude oil get back to over 5 a barrel then make more false threaths to OPEC with absolutely little to no action to back it up?

Technorati Tags: alternative energy, amp, auto makers, bankruptcies, compact fuel, conserving energy, crude oil, global recession, hybrid type, jobs, lay offs, news ticker, nonsense, oil drilling, opec, shore oil, type vehicles

I keep reading about people and companies filing for bankruptcy these days. Particularly GM and Chrysler. What exactly happens when someone files for bankruptcy? People say that it’s something you want to avoid if at all possible, but I’ve also heard Bush say that it’s a good thing for the auto companies to do in order to reorganize their companies. Now I’m no Bush fan but there’s got to be SOME substance to what he said (maybe?) as his economic advisers are saying this is a good idea. Why does Bush say this is a good idea while many other leaders say it’s a bad idea?

I’ve also read comments from "regular" people who say that the Big Three should be left to go bankrupt and clean up their own mess. But that this would cause tons of people to lose their jobs.

I’ve looked up the dictionary definition of bankruptcy as well as the wiki page and I’m still confused. I need someone to give me a very simple explanation about what bankruptcy is and what is going on right now in the US. Please help me understand this!

Technorati Tags: auto companies, bad idea, bush fan, chrysler, dictionary definition, economic advisers, filing for bankruptcy, gm, jobs

This is what I think about the automaker bailout:
The big 3 need to throw away old baggage of inefficient operations, high executive pays, and high union powers.

My suggestions are:

- Declare bankruptcy (only option to cut all ties with inefficiency)
- Merge operations and create a new company
- Sell off plants to foreign automakers to create more capital(to Hyundai, Kia, or any company that is looking to have production in US), this way workers can still keep their jobs but just with different bosses

What is your take?
I believe they are trying to go green but they are late compared to Japanese manufactures.
If an restructuring was to happen, I say screw it with the half-ass green-wannabe hybrids and just go green. Set goals to produce electric, bio-fueled cars and phase out existing cars.

And as far as capitalist governments go.. well.. the companies are US companies..
*Meg

The cost of bankruptcy to the economy and the auto workers and the auto industry is astronomical.. which i understand, but without an revolution will things get better?

Any suggestions for the problem?

Technorati Tags: auto industry, auto workers, automakers, bailout, bankruptcy, economy, fueled cars, governments, hybrids, hyundai, inefficiency, inefficient operations, jobs, kia, meg, plants, restructuring, ties

I mean we need 5 million jobs created that pay atleast 12 bucks an hour to have a chance.

Technorati Tags: 5 million, jobs

They all sound pretty good to me, but I want to know the pros, cons, and salaries of each jobs. Thanks so much!

Technorati Tags: jobs, pros cons, salaries

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

Which candidate for President do you think is most concerned about the highest priority issues in America? I have heard that McCain has expressed the urgency to find new oil resources and decrease our dependency on foreign oil and that will help get us out of Iraq and increase funds to develop alternative fuel sources. I haven’t heard much about Obama’s plans, only what he has to say negative about his opponents. http://mhutch.blogspot.com/2008/05/more-alaska-oil-drilling-needed-to.html http://www.issues2000.org/2008/John_McCain_Energy_+_Oil.htm I mean oil independence will take some time, but considering the present crisis – isn’t some drilling in Alaska and other areas of the US – important to try? I heard the oil prices are going to hit 200/barrel in 2 years which equates to more than .00 per gallon for businesses and consumers in the US. Prices will increase, demand will decrease, average people will lose jobs and not be able to afford food and housing – bankruptcy!

Technorati Tags: alaska oil drilling, alternative fuel sources, bankruptcy, blogspot, consumers, drilling in alaska, iraq, jobs, john mccain, new oil, obama, oil prices, oil resources, opponents, priority issues, urgency, will take some time

My husband and I have just lost our jobs and we own 3 properties that are not worth what is owed on them. We have great credit scores but cannot get the banks to talk to us about alternatives to keeping the properties at a reduced payment or sellling on short sale. We have to ruin our credit first and then they might talk to us… We have have the properties on the market but cannot sell without going to the table with large amounts of cash.
If these properties foreclose or we go into bankruptcy.. Can the creditors attach or take our retirement savings to satisfy debt?
thanks for your help..

Technorati Tags: bankruptcy, banks, credit scores, creditors, foreclose, jobs, retirement savings, thanks for your help

Think about this folks. A very big reason why we depend on fossil fuels (which pollute the air and supposedly contribute to “global warming”) is because of the mega-industries that revolve around vehicles that run on fossil fuels. Maybe now, that these corporate giants are diminishing in size and in power, other companies can finally afford to bring alternative fuel cars (hydrogen, water, solar power, compressed air, magnets) into the spotlight.

It is a shame that these companies are going under and the people they work for will be out of jobs, but the USA is based on a free market system. The bigger they are, the harder they fall, and we are feeling the powerful impact made by the fall of these companies.

Out with the old, and in with the new.

So again, my question is, can the bankruptcy of car companies be an ultimately good thing?

Technorati Tags: alternative fuel cars, bankruptcy, car companies, corporate giants, fossil fuels, global warming, hydrogen, jobs, magnets, mega industries, shame, solar power, spotlight

I’ve tried getting second jobs,going to credit counseling services.I’ve had 2 car accidents in the last year and also I was sick or hurt a lot in 2006 as well,so those things impacted my wages a lot.Now I’ve even contacted a bankruptcy attorney as well.What are some other ways I can try to get around my debt problem if they are any,what would they be too.

Technorati Tags: bankruptcy attorney, car accidents, credit counseling services, debt problem, jobs, wages

I was young, (22yrs old) had 2 jobs and made good money. I decided to trade in my old junk of a car and buy a brand new car. I had no credit history so my then bf helped co-sign for my new car. My interest was sky high but I didn’t care at the beginning because I had no idea what I was doing. I paid a very large amount per month and then after about a year, I lost my main job. A few months after that, I lost my other job. I now was collecting unemployment and went through HELL to make sure that car was paid off every month. I started making late payments and my life was just a mess because not only did I have to pay for that car, I had the insurance, rent, etc. I was no longer able to pay my car and that day came when Mr. repo came knocking on the door. They took my car after 2 years of me working my butt off and they auctioned it off for SO cheap (almost had a heart attack at how much they sold it for!)

This was in 2008 and 2 years later, I’m still struggling financially in more ways than a hundred lol…I have really bad credit, I can’t even open a bank account and I feel like my once so organized and amazing life is now totally off track. I don’t know what to do. These are my questions:

1. If I open a bank account, can my lender seize all my money? Not a savings, a checking account.

2. Being that I did not pay the upside down on the car (,000) should I file for bankruptcy and is it too late to do that after 2 years? And for those who want to suggest that I pay off the 16 grand, I’m not because I’m not going to pay for a car I don’t have anymore and you might say well you’re stuck with it you should have never bought a car you can’t afford I don’t want to hear it because you don’t know my story. I want serious answers, not answers that are going to sound mean and not help.

If there is anything that I’m missing? Please, any advise would be GREATLY appreciated. Thanks in advance

Technorati Tags: bad credit, brand new car, butt, checking account, collecting unemployment, credit history, heart attack, hell, insurance, job, jobs, late payments, lol, money, repo, should i file for bankruptcy, sky, thanks in advance

I was young, (22yrs old) had 2 jobs and made good money. I decided to trade in my old junk of a car and buy a brand new car. I had no credit history so my then bf helped co-sign for my new car. My interest was sky high but I didn’t care at the beginning because I had no idea what I was doing. I paid a very large amount per month and then after about a year, I lost my main job. A few months after that, I lost my other job. I now was collecting unemployment and went through HELL to make sure that car was paid off every month. I started making late payments and my life was just a mess because not only did I have to pay for that car, I had the insurance, rent, etc. I was no longer able to pay my car and that day came when Mr. repo came knocking on the door. They took my car after 2 years of me working my butt off and they auctioned it off for SO cheap (almost had a heart attack at how much they sold it for!)

This was in 2008 and 2 years later, I’m still struggling financially in more ways than a hundred lol…I have really bad credit, I can’t even open a bank account and I feel like my once so organized and amazing life is now totally off track. I don’t know what to do. These are my questions:

1. If I open a bank account, can my lender seize all my money? Not a savings, a checking account.

2. Being that I did not pay the upside down on the car (,000) should I file for bankruptcy and is it too late to do that after 2 years? And for those who want to suggest that I pay off the 16 grand, I’m not because I’m not going to pay for a car I don’t have anymore and you might say well you’re stuck with it you should have never bought a car you can’t afford I don’t want to hear it because you don’t know my story. I want serious answers, not answers that are going to sound mean and not help.

If there is anything that I’m missing? Please, any advise would be GREATLY appreciated. Thanks in advance

Technorati Tags: bad credit, brand new car, butt, checking account, collecting unemployment, credit history, heart attack, hell, insurance, job, jobs, late payments, lol, money, repo, should i file for bankruptcy, sky, thanks in advance

1: in order to get to "utopia" we will need thousands of more entitlement programs,handouts,etc.

2: We’re bankrupt already – and can not afford the current entitlement programs

3: Our debt is already at unprecedented levels.

So, how are we going to pay for current entitlement programs, future entitlement programs, and Trillions of dollars of debt all the while jobs continue to disappear overseas?

Obama can’t keep spending his way to wealth forever – eventually we will have to "Pay the Piper".

Technorati Tags: entitlement programs, jobs, obama, piper, quot, trillions, unprecedented levels, utopia

I know he’ll be creating jobs with alternative energy, but coal workers do not specialize in alternative energy… they know how to do coal work, so they’ll lose their jobs. How many workers will be out of work and be forced to find something completely out of their field?
Oops… change the "of" to "if" in the question
I have seen ONE answer in here that was close to answering the question. If you don’t have a reasonable answer for the question, please don’t answer.

Technorati Tags: alternative energy, answering the question, coal workers, jobs, quot

ok so i looked on my credit report and i seen that i have alot of debt heres what i owe
30,000 in hospital bills when i had my daughter
700 in cc debt not that bad
3,000 for a repo car
2,000 in other debts
so i owe a little over 35,000
and i dont have a job i`ve been looking for ANY job even fastfood jobs but nobody is hiring
my husband makes only 1,500 a mo
all of our bills come up to about 1,200 a mo thats without car gas and food so that only leaves us about 300 for food and gas !
i really want to pay off my debts but i cant and they keep going up should i file bankruptcy and what would that do to my credit does it ever go off my credit

we live in a kinda small town not to meny jobs i put a profile up on care.com and sittercity.com my husband did have a second job for about 5 mos but got fired because it was slow we thought about moving but we dont have the money to move and we have cell phones no land line we just we only pay about 60 a mo for cable and internet i`ve been useing the inter net to try and find jobs out of town so i dont want to get rid of my internet
we never get to spend money on clothes forour selfs we do for our daughter we dont go out to eat we always eat at home which gets boring
i even beged for my old job back at walmart were i worked for 3 yrs

Technorati Tags: car gas, cell phones, clothes, credit report, debts, gas and food, hospital bills, jobs, money, old job, second job, selfs, should I file bankruptcy, walmart

First and foremost, if you are here to insult me you might as well save it. You could not possibly think any less of me than I do of myself at the moment.

In case you would like a little background history, I am 26 years old and living back at home. I am not currently working and was terminated from my previous two jobs. One was on a retaliatory basis and one was pretty much what I would call theft by omission. Let me explain, you see I had gone into the diner where I was working, at the time, on my night off. Of course, I had quite a bit to drink that night but not enough to excuse my actions (seeing on the ticket that my meal wasn’t on there and leaving without doing anything to rectify the situation.) A "friend" slash co-worker went with me, along with a few other friends. The co-worker had asked the cook to make some food without a ticket and slipped him some money to do so, evidently. When he told me of his plan I told him it was stupid and I would prefer to just pay for my food. Well, he kept insisting on "taking care of it," so I went to our waitress and asked her to make sure my food was on the ticket; all she did was smirk and chuckle. Long story short, my food wasn’t one of the meals on the ticket and I was fired for that purpose. Now, I have never been a thief and don’t want my reputation completely down the shooter. I really want to go in to speak with the GM, but I have anxiety and have yet to bring myself to go in and pay for my food, though they had no qualms whatsoever about making me work OFF the clock for them on several occasions. I’m not trying to justify anything, but merely trying to figure out what the best approach would be? Do I get the courage to go in and speak with the GM? Do I write it off since I’m already regarded as a thief? What should I do? (By the way, there is a LOT more to this story, but I am not here to vent.)

Before that I job-hopped a lot. Nothing was ever challenging enough. I was always ambitious but seemed to have lost all motivation (due to depression mostly,) and direction in life.

I’ve been in and out of college. Dropping out several times due to a debilitating anxiety disorder and relationship problems.

I’ve accumulated some debt in the process and feel so overwhelmed. Once in a while I will tell myself, " I should just file bankruptcy!" Then I begin to rationalize and know that it’s not an option for me. I WANT to get back on track and pay my debt off, respectively.

Right now my sole focus is trying to find a new job, but I AM being sort of picky because I want to find something that will last while I get my life back together with paying my debt off; moving back into a place of my own; and returning to and finishing college.

Lately though, all I can think about is suicide. It’s just a lingering thought mostly. Is there something I can do to keep these thoughts from entering my mind? I keep telling myself if I keep my faith in God things will be all right.

If you need further details let me know. Your advice is greatly appreciated. Thank you.

Technorati Tags: anxiety, background history, clock, co worker, courage, gm, job, jobs, money, occasions, omission, qualms, reputation, shooter, thief, waitress

We filed bankruptcy last year and the FASA only goes by current income. Since we both have jobs, they want us to contribute ,000. We are on a payment plan for 5 years and they take all our excess money.

Technorati Tags: bankruptcy, excess money, fasa, jobs

Where are those billions all the Democrats were willing to send?

And who said don’t throw good money after bad?

Another true statement, the Government doesn’t creat jobs.

Stimulus is being spent unemployment still going up.

Technorati Tags: billions, democrats, government doesn, jobs, money, stimulus, true statement, unemployment