I’m being sued by my electric company. (Connecticut Light & Power) I have a very high bill , as a result of being on several payment arrangements over the years, because I am low income. My daughter has severe, life threatening asthma, and I am on the medical protection program to ensure her safety. I tried to work out an agreement with the lawyer’s office handling the lawsuit, and originally, they were going to have me on a payment arrangement of /week, or so I thought. Now, they’re claiming that they’d need my month’s usage plus a payment towards the rest of the bill to be able to settle the lawsuit, which I can’t afford. I don’t work because I have complications from having Lyme disease, and I have PTSD, and my husband is only on unemployment, with only 6/week, when we have a mortgage payment of 1157.33 a month, and were already behind some. I explained this already, and they don’t want to help me at all. I just honestly need some serious legal advice. Without the judgement and cruel comments, please. Should i file bankruptcy? What happens if I have to go to court? I honestly don’t have the money, and am so afraid and confused right now. Please help!!!

And please, no cruel comments about my life. People on this site love to knock others down all the time, and right now, I have more than enough to deal with, obviously.

Thank you so much for your help, i really, genuinely appreciate it.

Technorati Tags: amp power, asthma, connecticut light, judgement, lawyer, legal advice, light amp, love, lyme, lyme disease, medical protection, money, mortgage payment, payment arrangement, should I file bankruptcy, unemployment

Details – Got misguided by a con-artist mortgage broker. I was paying my mortgage on time and then refinanced because he told me I’d get a lower interest rate. The bank "forgot" to put an escrow account in my loan, unbenownst to me until nearly a year later. It jacked my payment up by 0/mo.

Anyway, tried restructuring with the bank and put my house on the market. I found two buyers but the bank has been unwilling to come down on their price, even though the house’s value has depreciated significantly.

I had a 722 score but now my credit is completely shot all because I made a dumb choice by refinancing and got taken. So… I really didn’t want to go through bankruptcy but only as a last resort. However, the house is still in limbo with the potential buyer (short sale) #2 if the bank agrees to an offer. Should I file bankruptcy now or when it gets closer to a court date? I get about 50 calls a day from bill collectors. I just leave my phone on silent and keep on working.

I know there’s never a BEST time, so when is the RIGHT time if someone is contemplating bankruptcy? And what will happen to me?

Technorati Tags: best time, bill collectors, con artist, escrow account, interest rate, last resort, limbo, mortgage broker, quot, refinancing, restructuring, right time, score, should I file bankruptcy

I bought my home in 2006 and put down $ 100k, yes its 20% down for a $ 500k house. I have put in another $ 50k in upgrades and remodel. Fast forward to 2009, laid off, no income I resort to using my credit card to pay my mortgage while my house was being listed by my realtor. 6 months went by, then a year, the house remained unsold. I’m up to my limit in credit card debt, thinking to sell the house for $ 350k, which will give me approx. $ 50k to pay my credit cards. Year and a half later, house is in foreclosure; credit card at max limit. No job, no car (sold it to pay credit card debt), ..and now living like a deadbeat.

Credit card companies still call and say "hello". Same story told to them over and over, no income, no job, no money etc. They "understand". Then they sell the debt to collection agency, same thing again. I told them my story..and they don’t care. "When are you gona pay?" I say with what? I can sell my t-shirt and underwear, but that might be worth 25 cents. What good will it do? So now, they are suing me in court. Went there and told the same story…judgment for the plaintiff. Okay, now they want to garnish my wage…but I don’t got no job. They want to freeze my bank acct…I have none. They want to..probably kick my ass..that they can definitely do..but that would hurt them, because if I get hurt and sue, they probably owe me money.

So here is my dilema, should I file Bankruptcy ..as there are other creditor waiting in line to sue me. Or should I go to court and and plea guilty but have no way to pay?

Yeah, I know..I’m a deadbeat, but I don’t blame my misfortune on no one except myself. Lost my life savings and people are laughing at me. What a cruel world this is. To file BK or not to file BK? If I do, I will have a fresh start says a friend. If I don’t, my friend says that the creditors will put my balance on my credit report, and renew it every 7 years…meaning that I can call the credit reporting agency to remove it, but they have a right and probably will repost my balance…as nothing had been collected. Is this true? I thought a negative item must be removed after 7 years, but it could be put back in and stay for another 7 years?? Please help. Thanks in advance.

Technorati Tags: bk, credit card debt, credit cards, creditor, creditors, cruel world, dilema, foreclosure, fresh start, judgment, max limit, misfortune, plaintiff, plea, realtor, remodel, should I file bankruptcy, t shirt, underwear, waiting in line

I was laid off in August of 2009. I still have not secured employment. I had stellar credit until October of 2009 when all my savings were depleted to keep up with my bills. I have over 5,000 in credit card debt as the late fees etc. have been adding up monthly. My credit score was at 720 before October of 09. I’m guessing it is now in the 400’s. No payments have been made on any of my credit cards since October 09. Should I file bankruptcy or just keep postponing any payments until I secure employment? I feel that my credit is ruined for life anyways, so why bother stressing out and paying it off. I’m confused as to what to do. Thanks.
Also, I took the time to write and mail letters to each of my credit cards companies three months "prior" to even knowing I would be laid off. I had requested that they drop the interest rate to 0% so that I could get them all paid off. They ALL declined. It wasn’t until 90 days after each of my payments were due that they contacted me and at THAT POINT wanted to work something out. I was enraged to say the least. I thought…"Now that you’ve destroyed my credit, you want to work something out". Again, I was livid. Had they just done that when I asked, I probably wouldn’t have gotten into more of a mess. I feel now that had they settled for 0 percent interest, they would at least be getting most of their money back, now it looks like they won’t be getting any. Part of me feels bad, but part doesn’t. Also, do I pay taxes here in CA on the released debt through bankruptcy? Because I don’t even have money to do that. Yikes.
One of the responses said I should have filed bankruptcy a year ago, but a friend advised me not to due to my ongoing health problems. Had I filed and needed hospitalization, etc. I would not have been able to add that debt for another 10 years. I have no medical nor dental insurance because it’s so expensive. As far as living beyond my means, a huge portion of my debt is medical and dental charges. Please don’t assume people are careless who get to this point. I had to charge alot just to survive.

Technorati Tags: 10 years, credit card debt, credit cards companies, credit score, dental insurance, health problems, hospitalization, insurance, interest rate, late fees, money, should I file bankruptcy, three months, yikes

Income is steady (same employer for 3 years) and sufficient to handle a reasonable mortgage…had insurance when the medical bills occured (serious health issue)…will a lender overlook or should I file bankruptcy and wait it out?

Technorati Tags: 3 years, health issue, insurance, medical bills, mortgage, serious health, should I file bankruptcy

I got a personal loan for the down payment on my house then once my job of two years ended the loan went to the lawyers office. I made arrangements with the office because I was getting unemployement at the time. When that ended I couldnt make payments anymore so I finally found a job and I had to play catch up with all my bills so now I recieved the judgement papers and I called the lawyers office and they wont give me any information on how much will they take out of my check once they find out where I work. I live in louisiana what can I do right now about the issue? Should I contact a lawyer to see if they can help me or start sending in payments because the office told me dont send any payments in or should I file bankruptcy ? What should I do please help me

Technorati Tags: job, judgement, lawyer, lawyers, louisiana, personal loan, should I file bankruptcy

I am 23yrs old my debts are from 07 i have a car repossession, 2 credit cards, a loan, a cell phone bill, some medical bills in my credit including a judgment and all that equals out to about 10k in debt. I have dreams of someday owning a house. maybe when I’m 30? but for now i would like to obtain a credit car for everyday expenses. Should i file bankruptcy? I am obviously more conscious about the responsibility and importance of a good credit history that’s why my debts are all from 2007 but idk what steps to take. should i? is it beneficial?

Technorati Tags: car repossession, cell phone bill, credit car, credit cards, credit history, debts, dreams, everyday expenses, idk, judgment, medical bills, should I file bankruptcy

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

When i was young in college i received 3 different credit cards, maxed em all out never repaid them, i also took out many money payday loans, never repaid those, and now i can’t get anything because my credit is so jacked up. i also have some other things that are on my credit report & i don’t know what to do i have never purchased anything and basically i feel trapped because i will never be able to get anything without a decent credit rating. should i file bankruptcy or where do i begin?

Technorati Tags: amp, credit cards, credit rating, credit report, money, payday loans, should I file bankruptcy

My credit is horrible although I never have had credit cards or repos. I just never paid bill when I was younger. I figured it was no big deal. Like I couldn’t even tell you who I all owe. My family has been using my info since I was a kid. My score is really low. Now I am grown, married with children of my own, of course I pay my bills now. But how do I go about fixing the past if I don’t even know who I all owe. I would like to buy a house someday. Should I file bankruptcy???

Technorati Tags: credit cards, married with children, score, should I file bankruptcy

I’m from louisiana when they foreclose on your home how long is the process? How do they go by selling do they sell it to the lowest bidder and if the do will I still owe the company? Or should I file bankruptcy and get it over with? Because doesnt it stay on your credit report for seven years when the foreclose on your home?

Technorati Tags: credit report, louisiana, seven years, should I file bankruptcy

I’m 27 and started a business when I was 20. I was making over 0,000 per year when I became sick. I lost my business and owe just over 0,000 to creditors for loans that were made to the business which I personally guaranteed. Because of my illness I haven’t worked in over 4 years and haven’t paid any of my creditors either. I’ve lost my house and my car (live with a family member), my credit is terrible and all I have left is ,000 in cash. Should I try and work out a payment plan to my creditors and get a job? Or should I file bankruptcy and just start fresh (I hate the idea of being ruined for the next 10 years) I’m also considering starting another business with the money I have but am not sure how to handle my debt problem first. The first business I started with only ,000 so I have enough money to start a business and don’t need any more capital or credit to do it. Please serious advice only. Thank you.

Technorati Tags: 10 years, creditors, debt problem, family member, job, loans, money to start a business, should I file bankruptcy

O.k. here is the situation. When I was 20-24 years old I ran up a lot of credit card debt about ,000 (I am 30 years old now). Then I moved abroad to study and I currently live abroad and don’t plan on moving back to the U.S. for at least another 5 years. What happened was that at a certain point I couldn’t pay my credit cards anymore and just let them go. Now I am still studying and can’t afford to make payments. So, what happens if I move back to the US? Is there a statue of limitations on the debt? Should I file bankruptcy? How would I do that if I am living abroad?
I would like to add that I was very stupid and I messed up! I have learned my lesson. I just want to get this problem fixed!
The debts were in Texas where the statue of limitations is 4 years…

Technorati Tags: 24 years, credit card debt, credit cards, debts, should I file bankruptcy, statue of limitations

I am now legally divorced, but when we separated, I did not cover my a@# financially. My dad was diagnosed with colon cancer, so I was not concentrating on the separation and left with my 2 kids to be with my family. Before I could cancel anything, he overdrew our joint bank account and the car in his possession was repo’ed, but both our names were on the loan. All of this is stated on the divorce decree, but that doesn’t protect me from the creditors. Anyway, now he has filed for bankruptcy. So I am afraid the creditors are going to come after me. Should I file bankruptcy too? I refuse to pay for debts that were his alone, plus I can’t afford it. Any suggestions?

Technorati Tags: colon cancer, creditors, dad, debts, divorce decree, possession, repo, should I file bankruptcy

I am an international student and I own a lot of credit card debt. I really can’t afford to pay back the money and I have to leave this country soon, so should I file bankruptcy?
When I back to my home country, will the bankruptcy still affect me?

Technorati Tags: credit card debt, money, should I file bankruptcy

I make 25,000 a year and have about 20,000 in credit card bills. I have a company that is suing me and must be in court friday. Should I file bankruptcy? I think I should. When the company wins in court on Friday, can I have that put on my bankruptcy and be protected from this lawsuit. I used to make much more money a year, that is where the debt is from.

Technorati Tags: credit card bills, money, should I file bankruptcy

My husband and I have about ,000 in past due debt right now. My main question, should I file bankruptcy if our debts are already old? According to Experian, "This account is scheduled to continue on record until Nov 2012" …actually some start coming off 2010 through 2012. I don’t know how confident I am that they will be off my record come 2010-2012…but if I file bankruptcy it will be 2019! can anyone give me advice on this…do the negative reports actually come off and if so, when? Or should I file bankruptcy? Sooo confused!!
Thank you all for your help. To add more details Jimbo – We do own our own home, I am not being garnished at work but my husband and I both have received Judgements on a few of our accounts..mine a few years back. His most recently in 2008. But no garnishments have come about from this…
Thank you! If I did not show up for court…is the judgement automatically awarded?

Technorati Tags: debts, garnishments, judgement, judgements, should I file bankruptcy

I am a student. I’m currently 000 in debt, should i file bankruptcy?
i am so worring because if it would effects to get my future student loan. Please help..!!
here is my current debth list:
credit card: 00
student loan: 00
collection debt: 00
difference on a car repossession: 000

Technorati Tags: car repossession, credit card, should I file bankruptcy, student loan

I just got off the phone with a good friend of mine, he was repeatedly asking me the question "should i file bankruptcy"?

He and his wife owe about 0K in credit cards. The both of them originally held great well-paying jobs which they lost due to the economy and recent cost-cutting by their companies.

They were intending to repay the debt but as a result of their job loss, their current employment which is only paying a fraction of their original income is significantly not enough. They are being hounded frequently by creditors as well. I’m unsure what is the best option for him.

I am hoping i will be able to answer his question "should i file bankruptcy" in a assured manner to calm his nerves down. Is it the only option with regards to this issue of his? Any alternatives?

Technorati Tags: credit cards, creditors, economy, fraction, good friend, job, nerves, paying jobs, should I file bankruptcy

I had a wreck awhile back and i’m being sued. Am I going to owe money or will my insurance company cover it? and should I file bankruptcy? I’ve heard that somewhere also…and will i ever be able to get insurance?
i had full coverage if that matters

Technorati Tags: full coverage, insurance, insurance company, money, should I file bankruptcy