I was going to file chapter 7 bankruptcy ,but i was working with this company where instead of paying for a lawyer you will provide with law students for only civil legal matters. So I was going to used them but after hearing how people mess there's self up by not using a lawyer i having second thought. So should i still use the company or not
Wow, how to condense this mess! Here goes: We're going to (decision made, no turning back) foreclose on our house. We do have an equity line that was paid (insured by UGI/AIG, so the paperwork is probably in the works as I type this for them to "come after us" (lawsuit). We are basically judgement proof because we have nothing but our clothes and some furniture. The only other debts we have are one credit card in default and a whopping student loan of $97,000 (that is NOT dischargeable in bankruptcy). So, I'm asking if for a foreclosure, equity line, and credit card ONLY, is it worth the money and hassle it takes to go through bankruptcy? The student loan is current and until the house we had 800's credit scores. We're understanding that the bankruptcy will allow us to clean things up sooner. If we don't file bankruptcy, in our state "they" have up to five years to file suits and/or try to obtain judgement liens. After that we're in the clear... ? Thanks!
My family is pretty average as the middle-class goes. Earning around $70k a year. But my dad wasn't so good with the finances and we ended up with a bunch of credit card debt. The filed for Chapter 13 bankruptcy in December and now cannot sign for any loans. My dad says he refuses to contribute any money to my college fund because he wishes to retire when he originally planned to. He won't make any changes to his buying habits (such as eating out, buying electronics and guns) because he is very stubborn. He feels that if he earned it, it's his to spend. I don't know what kind of loans I can get without a cosigner. I want ones that I wouldn't have to pay till after I graduate. I have applied for a few scholarships but it wouldn't be enough to pay for most of the tuition, even if I win all of them. I'm hoping to attend a public university (the state I hold residency) which costs around $25k a year.
i know it's never a good time, but what do i need to do in order to file for it? this is something i thought i'd never have to face, yet here i am. and do i need to file separately or jointly?
My boss (Store Owner) is potentially declaring bankruptcy, all the employee's are saying different things about it, but if it does happen, do I just lose my job and that is the end of it? We are a locally owned store, 3 employee's, the owner and 1 payroll woman. A newer employee is talking about chapter 11 or something which would entitle us to some form of severance for lack of a better word, does anyone have any insight? This is happening in Nova Scotia Canada
my husband is in the army and just defaulted on a private loan with Sallie Mae its for 71,000 I'm sick to my stomach so please any negative comments are not needed we have a 3 yr old son and i need to get this resolved. yes i know he will be punished by the military and im screwed! but my uncle said he filed chapter 7 bankruptcy against the government on a student loan does any one know anything about this or know anything i can do. and if i settle does the amount have to be paid in full. they said they will take %25 of my husbands earnings that leaves us with nothing
I recently received a letter naming myself as a debtor to General Growth Properties, INC regarding their bankruptcy (Chapter 11 Case # 09-11977) and information on how I need to provide proof of my claim. I did some googling and turn up information on the company but I have no idea what this letter is about; and there is no contact information on it. I have received a few of these letter over the last several months and I don't know what to do? Any sound advice or information would be appreciated!
I have recently filed chapter 13 bankruptcy and I recieved an order excusing entry if third-party payment order and I do not understand what it means, any help appreciated
I was wondering why i would receive papers that my ex husband is filing for bankruptcy - chapter 13. We don't have any bills together - but, he does pay child support. (which I believe can't be forgiven, right?). also - he owes me out of pocket expenses from the children. these papers came from a lawyer - do I have to do anything with them- and why were they sent to me?
I.R.S will settle with you on the money you owe them?
In Aug 2011 I had to fill for Chapter 7 bankruptcy in Oregon. During the hearing of creditors I was asked if my tax refund was normally high. I stated I normally get between $3000-$4000 back and would use my refund to pay off any outstanding debt I may have. He requested that I would need to send in a copy of my 2011 tax returns. I received a letter this week requesting a copy of my tax return and to also send in my tax refunds. I had my taxes done this week and again the refund was higher than normal. In the past I have used my refund to pay off any outstanding debt but I had already filled bankruptcy and didn't know I would have to send in my tax refund. I have since lost my job and have already budgeted the refund into my living expenses. What are my options now? Do I have to send the refund in? I've been reading that the Earned Income Credit is excluded from this. Can I withhold that amount and send in the balance? I've also been reading about using the "Wild Card" to be able to keep the whole refund. Is it to late to use this option? If I don't send in the tax refund, I understand my case will be dismissed but will that prevent me from filling at a later time when I'm able to afford a lawyer?
I have had an extraordinarily bad year: sporadic employment, lost my car in an accident, etc. I am seriously considering filing for Chapter 7. All my credit card accts are closed now and under a debt mgmt company (I did this to lower my rates), but since I have no money coming in, I can't pay them anymore. I have zero assets to take...my most valuable possession is probably a queen-sized bed. I have no plans to get a mortgage in the next five years, won't need a car if I continue to live in this same city, and have no desire for credit cards. I just want to bring my monthly overhead to something manageable and restart my life. I live pretty modestly...studio apartment, don't go out to eat, don't take fancy vacations, etc. Is it worth my while to file for bankruptcy? I don't have creditors or collectors after me yet, but unless I find a job in the next month, that will soon be the case.
#1 How do I know if I qualify for bankrupcy? what are some general conditions? #2 Difference between chapter 11 &chapter 13? #3 I own a house, would I be forced to give the house up if I declare bankruptcy? #4 What all types of things would NOT be covered by bankruptcy? i.e. I would still have to pay on?
I had a business go bad due to building issues and my husband was unemployed after the close of this business for over 5 months. This economy stinks!
I heard that items (in collections) only stay on your credit report for 7 years. Is this 7 years after they are paid or 7 years from the time they are put on your report regardless of if they are paid or not? Also.. Inquiries on your credit report..I heard they only stay on for 2 years. Is this accurate?
I am considering filing bankruptcy under chapter 7. Can anyone who has filed, tell me how bad it actually hurt you? My only asset is a computer. People who never filed have told me it's the worst thing to do, but I'm so far in debt that I don't qualify to buy a house anyway. So I just wanted to know what it was really like from someone who actually filed chapter 7. Thank you