my property has too much Equity, my attorney filed a Bankruptcy Chapter 7, & later on after filing for ch 7 our attorney realized that our equity is high so then he asked me & my husband 2 convert 2 Bankruptcy CH 13, this alarmed us, We are so comfused & scared more than ever, We are current with our primary Mortgage & 1st & 2nd Loan with our Bank that is tied up with our property, our balance is $ 129,000.00 & our Appraisal is for 5,000.00 & we are current with our Property Taxes/Homeowners Insurance. & we are current with our car payment & auto insurance. Our reason 2 File for Bankruptcy in the 1st place was because of personal credit card debts, we were told from our attorney that we do qualify for CH 7, Now our attorney tells us we do not qualify for ch 7 so we have to convert to CH 13, but he says our home is not secured with the 0,000.00 Home Exemption. our children are all Adults, even though they live with us, & we support them financially the court does not reconize my college children as our dependents under the law and because 2 of them file for thier own tax-return for years now so I only have one adult dependent age 18 who is still a full-time student in High School. another thing the lawyer said 2 us when after we signed the forms for ch 13, last week friday. that we qualify for a 100% Pay Back Plan. not reduced like they do for Consolidation, & not even once did the lawyer mention anything about consolidation so I am really comfused, I even asked an attorney at the Pro-Bono work shop @the Santa Ana Bankruptcy Court House 2 weeks ago & I asked if its safe to convert my case to a ch 13 to keep my property & personal property safe they said yes, & that I would have to pay what I could only afford a month from my husbands income for a 5 year plan"so I thought ok, this is good" But, when I saw my lawyer last week 2 sign 4 the convertion to a CH 13, she said my minimum payment would be around ,000.00 a month 2 pay back my creditors & that’s the lowest payment the court would offer according to our attorney 2 start with & it will go higher in a couple of months "We can’t afford this" what should we do? this attorney is confusing us, my English is fluent but, the legal terminology is very confusing" if you have been through something like this before (or) if you know someone that had gone thru this in CA we would really appreciate any feedback you may offer, I tried 2 call my attorney again & she does not return calls I am scared for me & my family. Thanks 4 listening hope 2 hear from someone that would have knowledge to give us feedback that is true no matter how bad it ism we want to know what to expect & what we should do.
Mary:
Orange County, CA, USA

Technorati Tags: age 18, auto insurance, bankruptcy chapter 7, bankruptcy court, car payment, ch 7, convertion, court house, credit card debts, dependents, homeowners insurance, minimum payment, personal credit card, personal property, pro bono work, property taxes, reason 2, santa ana, tax return, time student

I owe a LOT on my credit card bill (my minimum payment is 5/month) and my interest rate is 12%. Please understand that this has taken almost 2 decades to get to this point and it was unintentional. Anyways, I have good credit with a score of 771. I don’t want to ruin that by filing bankruptcy. I am wondering if there is an alternative where I can cancel the card, pay say /mo and not have interest accrue. I will pay til I die if I have to but I cannot afford this anymore. I know you can do something similar with medical bills, so I thought maybe there is something out there for credit card bills. If it helps, I am disabled and receive SSDI, so maybe there is a government program, I don’t know. Thank you for any/all suggestions.
Just some additional thoughts, what would trash my credit worse? Filing bankruptcy or debt settlement of some type as one person mentioned? Also wondering, if I just ceased paying or only paid the very minimum I could, and lets say they end up putting me in collections, etc., and let’s say they sue me for it, could they put a garnish on my monthly SSDI check? I don’t have any assets they could take (savings, house, etc).

Technorati Tags: 2 decades, assets, collections, credit card bill, credit card bills, debt settlement, filing bankruptcy, garnish, government program, interest rate, medical bills, minimum payment, score, ssdi

Here’s my situation. I graduated from college in December 05 and believe it or not, I have not found a full time, good paying job yet. Yeah, I believe I just wasted money and energy on nothing.

Anyways, I’m working a part time job and make approx 0 a month. I have ,000 in credit card debt, most of which I’m still paying from when I was in college 3 years ago (books, food, so on) I have ,000 in student loans, ,000 in medical bills, and it seems everytime i make a payment, it goes to waste because the interests keep rising. I even pay more than the minimum payment. If a credit card is lets say minimum, I will pay about 5, but it’s still not good enough cause the interests will raise that back.

I can’t keep going like this. My credit score is crappy so I can’t get a consolidation loan to pay all of it all.

Would I be able to file for bankruptcy? I have tried everything to get out of debts. I don’t charge anything to my credit cards any longer, but it is still that bad.

What should I do?

Technorati Tags: 3 years, bankruptcy, consolidation loan, credit card debt, credit cards, credit score, debts, full time, good paying job, medical bills, minimum payment, money, part time job, student loans

I have a credit card that I am behind on and owed ,000 and it just went into Collections a few months ago. I’ve been making the minimum payment ever since it went to Collections, but I can’t afford to make the minimum payment when it is not in Collections. Right now the minimum (with Collections) is -100 a month whereas before my minimum payment due was competing with RENT! Like, seriously, 0 or so.

I also have 2 recent E.R. bills that I am trying to slowly pay off… they are a combined total of ,000.

I am doing what I can to get all of my debt squared away. But, I just wanted to know at what point does one file bankruptcy??? Thanks.

Technorati Tags: bankruptcy, collections, credit card, minimum payment

I am already pissed at myself and feel like a complete failure for contemplating this, so save me the guff… Anyways, I lived off of my credit cards for a few years when I lost a job and had some medical issues. Prior to that, I spent like a young 20-something who wants unnecessary BS.
I have 4 cards with a combined balance of ,000. 2 credit cards have been inactive for months, and the other 2 have clothing/food purchases from 3 months ago. I have been trying to stay afloat and have paid on time for the last 10 years, trying to pay them off. My creditors have not treated me well for my loyalty and about 1 1/2 ago ( I missed my payment date by a few days), raised my minimum payment to amounts I can not keep up with. I have been paying them with my child’s child support money since I have been unable to find work. I have lost so much in my life and I was really proud of my credit. But I feel like I am in a sinking ship trying to keep up and recently seeing how much more I have to pay since I can only afford the minimums on all 4 cards really made me feel hopeless.
By all means, I am a loser: I can’t find a job, I qualify for food stamps, I am trying to finish college and can barely afford to buy textbooks, I am trying to raise a child alone, I am living off the kindness of others with no assets and about in my checking account. I am terrified of stopping paying off my cards, but I literally think this is the only way. I hesitated all these years because I wanted to be responsible, and I heard bankruptcy ruins lives. What should I do? Where do I start? Thanks for your time
Also…Looked for Bankruptcy attorneys online…How much will I have to pay one (avg)? I live in So-Cal.

Technorati Tags: 10 years, avg, bankruptcy attorneys, checking account, child support money, credit cards, creditors, few days, food purchases, food stamps, guff, kindness, loser, loyalty, medical issues, minimum payment, payment date, s child, sinking ship, thanks for your time

Well, it is ashamed to ask this question but it is true that I’ve been living in this condition for couple years now and it made me so depress because of my personal financial problem. But I am still hoping and trying to find everything I could to recover my credit. I hope I will get some advise from you guys out there to help me start rebuild my financial life again.

Since last 5 years ago the first time I moved to this country I started apply my first credit card with US Bank, I’ve been living so happy with it, I thought it was cool when using credit card, I spent money like a rich kid, and I got a really good credit, then I applied for any other cards from one bank to other banks till I ended up with 5 different credit cards. Then 3 years gone by I couldn’t handle these credit cards, I ran out of control and ended up with a balance of 22K at the age 27 years old now, so still there is a long way to go, if I am keep paying the minimum payment like this I will end up paying those creditors for my whole life. I did try credit card consolidation but it just reduced my interest rate Now at this time I decided to go with debt settlement company in order to get rip of this debt and start a new life, but of cause it gonna take me couple years to settle this 22K debt. Now I m paying the settlement company 0/month for 28 months to settle my debt.

So first of all please ignore my grammars I know you understand what I am talking about, but I am seeking for advise from you guys out there:

1. I can possibly maintain my monthly payment of 0 to 0 toward my debt, so is there any alternative way beside debt settlement and bankruptcy to get rip of this debt? now my credit score gone so bad and there is one collection on my credit already, and soon there will be more as I am enrolling in this debt settlement.

2. I start looking at peer to peer loan and sound like an other option for me as long as I have a co-borrow with a good credit, but I am kind of hesitated and not sure how legitimated it is. Can anyone advise me if I should go with it?

I am making 90K from my job but I am still living in this horrible life because of my debt. This is a really bad experience that I am currently having in my life and I hope everyone who read this post will learn from what my mistake was, and won’t go on the same path as me.
Yes I will looking into my daily living expense and hope I will cut some of them. Originally, it was 35K on my balance but then I tried to sell most of my asset (Stock, I don’t have a house) and brought it down to 22K. So at this moment of 22K debt I have nothing beside my monthly salary. I am so upset when I see most of my friends now they bought houses even they make less money than me, I was really poor in my money management.

Technorati Tags: 3 years, bankruptcy, banks, credit card consolidation, credit cards, credit score, creditors, debt settlement, grammars, interest rate, minimum payment, money, personal financial problem, rich kid, settlement company, us bank, whole life

does anyone know if it varys depending on the amount you are filing for??? or does it depend on how much you make???
Ok, again, I am not the one filing bankrupcty, My fiance had to have surgery and didn’t have medical insurance so he is bombarded with medical bills, I am looking into options on this issue, the collection agency will only accept a minimum payment a month and we can not afford 400 a month.

Technorati Tags: fiance, filing bankrupcty, insurance, medical bills, medical insurance, minimum payment

Does anyone know of something besides bankruptcy to get credit cards paid off? Any private investors that do that sort of thing…lend money at a low interest rate? I’m not even sure that we could file for bankruptcy because we are not behind on any payments. Some how we are getting by, but are having to charge stuff, because once we make the minimum payment we have no money left. We own a home, but hasn’t been long enough to get any equity out of….any suggestions out there??

Technorati Tags: bankruptcy, credit cards, interest rate, minimum payment, money, private investors