If you reside in one state, leave the country for 6 months and when you come back you are in a different state. In what state do you file for Bankruptcy (Chapter 7 or 13) according to the new laws.?
My dad was telling me about 3 different kinds of bankruptcy. Can anyone explain these to me? He told me about when he filed bankruptcy, but that was a LONG time ago, so I was just curious as to if anyone could explain the new laws associated with bankruptcy and the different types. Thanks.
i had really good credit until a few years ago, i had all the major credit cards and i always paid my bills on time. but i was unemployed because of an injury for almost 6 months so i just lived off of my credit cards, when i finally got back to work i wasnt even making enough to pay all late charges and interest fees. i was paying 50% of my income each week towards paying it back but i was so far in debt by that time that i was still having each account grow in debt because i got so far behind. they were calling me at work constantly , i didnt even have my home phone because i got rid of any luxurys that i didnt need. i ended up moving out of state to avoid them. i understand there are new laws that prevent a person from filing bankruptcy on credit card debt. it has been over 2 years now that i have avoided them. but my debt was about ,000 back then and the way it was growing im sure it has to be double that by now. should i continue to try and avoid them. i earn only 000 a year
i would really like to pay it all back but i couldnt even keep up with the late fees back then and i have a job making less than i made before. is there any way that i could just pay maybe 20% of my income and get my debt paid off? i am barely scraping by now but i dont want to be a deadbeat. but i have also heard that if i avoid them contacting me in anyway for 7 years that they will not be able to collect anything from me. but im sure that they can find me because i work at a normal job and file my taxes every year
What is the maximum income in a single income household to file a chapter 7? Is a chapter 7 going to eliminate everything I include or do you have to pay anything back with the new laws in effect?
http://www.youtube.com/watch?v=nAGzLfmV4Ks
"The 0 billion bailout for Wall Street, is driven by fear not fact. This is too much money in too a short a time going to too few people while too many questions remain unanswered.
Why aren’t we having hearings on the plan we have just received? Why aren’t we questioning the underlying premise of the need for a bailout with taxpayers’ money? Why have we not considered any alternatives other than to give 0 billion to Wall Street? Why aren’t we asking Wall Street to clean up its own mess? Why aren’t we passing new laws to stop the speculation, which triggered this? Why aren’t we putting up new regulatory structures to protect investors? How do we even value the 0 billion in toxic assets?
Why aren’t we helping homeowners directly with their debt burden? Why aren’t we helping American families faced with bankruptcy. Why aren’t we reducing debt for Main Street instead of Wall Street? Isn’t it time for fundamental change in our debt based monetary system, so we can free ourselves from the manipulation of the Federal Reserve and the banks? Is this the United States Congress or the board of directors of Goldman Sachs? Wall Street is a place of bears and bulls. It is not smart to force taxpayers to dance with bears or to follow closely behind the bulls."
jeremy: Yeah, that’s a good speech, too!
I’ve read a bit of things about chapter 7, but one thing isn’t clear. Under the new laws, I do qualify for it. I’m in Missouri. It says I can keep the car up to the value of 3k. My car is work 7k. I obviously cannot afford nor would I qualify to get a new car and I have no money (which is why the bankruptcy). I live alone and can’t go without a car. What will happen in this case? I have no other assets other than that.