When To File Bankruptcy » student loans

How do I file for bankruptcy at 22?

admin — Mon, 25 Jul 2011 13:19:50 +0000

And is it a good idea? I owe money to a credit card, a bank, tons of medical bills, and student loans (although if I remember correctly, student loans aren’t forgiven through bankruptcy). I probably have 30K-40K in debt altogether—most of which being the medical bills. I’m 22, would bankruptcy be a good option? And how would I do it? How much would it cost? How long would it take to fix my credit thereafter?

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I am 22 and want to file for bankruptcy?

admin — Mon, 25 Jul 2011 11:01:06 +0000

When I turned 18 I made the huge mistake of applying for every credit card anyone would ever give me. Now I am 22 and have a boat load of debt including judgements, collections, student loans, car loans, pay day loans, etc. Totalling 40,000.00 plus!!!! I want to know if bankruptcy would be good route for me as my credit is already poor. Can it make it any worse?

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Can I threaten to file for bankruptcy when negotiating with creditors?

admin — Mon, 18 Jul 2011 13:22:02 +0000

It’s an empty threat though because I’m not going to file really.

I’m trying to negotiate a ,300 debt for 0 – 00. I want to threaten bankruptcy as leverage but is this a good decision? This would be my line: "I am familiar with the law and know that I am ‘judgement proof’. If I file for bankruptcy I will claim all property as exempt, and if you sue and obtain a judgement you could not collect any of my property to satisfy the judgement."

Will this help? Can it hurt? Any other tips? Is there anything else I can use as leverage?

Here’s some background info: I’m not dealing with collection agencies so it hasn’t gotten too out of hand. I have about K in debt (K student loans, K credit cards). I’m working at part time jobs right now but when I do find work I’ll be making -K a year entry level in my field.

Thanks!

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My parents are buying me a house but I need to file bankruptcy. What should I do to keep my home safe?

admin — Fri, 17 Jun 2011 21:45:16 +0000

I am very nervous about what can happen to my home. I am waiting for a closing date as my parents gave me money to purchase a modest home. I am married and my husband and I need to file bankruptcy. We lost our home to forclosure a few years ago, lost our vehicles and had some credit cards. My parents want to see me enjoy part of my my inheritance now and I also have health issues that allow me to only work part time. I know I need to contact an attourney but I dont have the money for that yet. We are still renting but will be closing within the next 2 weeks. What should we do when we file? Again, the home will be only in my name which I am not sure if this will help or not. My husband has some personal credit issues and I as well. But, most of our issues are together. We believe we should file a chapter 13. He is a school teacher and I am a part time self employed music teacher. He also owes a lot of money on student loans from getting his Bachelors degree. I am 51 years old, am very grateful to my parents yet very nervous about losing my home. Thank you !
My parents do not want the home in their name as they do not want to pay Insurance and taxes among other reasons. I have heard of many people owning homes and filing chapter 13. If this is the answer do you think we need to do it soon so the courts do see that we are trying to resolve the issue after recieving this gift? They will also see that our hardship and loss was due to my husband being in the mortgage industry and my health issues.
Thank you for your answers. Here is my second question to my second answer.
We had put down a chunk of money for escrow. We were to close a few weeks ago until Fannie Mae said that they need go over the homes forclosure papers. Something was not done exact. I and Fannie Mae signed an extension. Can I back out of the deal and do the bankruptcy then look again for a home again? Or, will I lose the escrow money which my dad would kill me for that. That is my concern now?
Omg… yes they paid cash…. And, yes it is in my name only.

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Should my boyfriend file bankruptcy?

admin — Wed, 20 Apr 2011 13:16:17 +0000

My boyfriend is in a lot of debt currently, with medical bills, student loans, and an ex wife who is getting 50% of his checks due to alimony. Needless to say this is very difficult for us financially. What exactly are the rules are bankruptcy and how do you go about file-ling? Would bankruptcy make any of this go away. Mostly the ex wife alimony? How would bankruptcy effect that?

Technorati Tags: alimony, bankruptcy, checks, medical bills, student loans