My ex lives in Minnesota, where we bought a house. When we divorced, the papers awarded him the house and mortgage. We had a good faith agreement that he would refinance to take my name off the loan. He did not and things have gotten pretty bad for him and he is filing for bankruptcy.

My name is still on the lien although the paperwork specifies that it is his responsibility to pay and refinance the loan. My concern is that the mortgage company will try to collect money from me even though I don’t live in the house and can’t make the payments. I also live in California now, so I’m not sure how (or if) that affects anything.

Any help or advice on how to protect myself and what to expect would be greatly appreciated!

I have 3 Payday loans out with a total balance of ,000. The fees and interest are very high and can’t keep up. The loans keep hitting my bank account and I am charged 100-150 dollar in fees every two weeks. I also sent letters the the online payday loan companies to revoke ACH transactions, but they keep trying to take money that’s not in my account. I also wrote a letter to my bank and called them requesting that they stop all ACH transactions on my account, but they won’t do it, they tell me it cost to stop each transaction, which I don’t even have in my account, so that means I would be paying in fees every two weeks to stop each ACH transaction. The bank was willing to waive some fees, but it will just go up again once they debit my account again. My bank said that my account will close in 15 days and that it will be reported to chex systems. Should I just wait for my account to close and be sent to a collection agency, so the overdraft fees will come to an end and work out a payment plan. How do I get out of Payday Hell? I also have 2000 in credit card debt. I talk to an attorney to view my bankruptcy options and they said I need to be at least 00 in debt. What do you suggest I do.
I already tried to close out my bank account they won’t let me close it or freeze it.

Ok, so here’s the situation. I need a private student loan to cover the cost of college tuition, but in order to get it I need a cosigner. My parents say that they can’t because of their Chapter 13 bankruptcy (which we’re still going through). Is this true?? and if it is what should I do?? Please, please I need some help

I want to buy a 2008 Suzuki Burgman 400cc scooter, (can’t use a motorcycle, leg problems). The bike costs about k. My credit score is 640 right now, which isn’t half bad. But on the other hand, I filed for chapter 7 bankruptcy in april 2009, which will probably affect my interest rate. I got a low balance credit card 6 months ago to help me rebuild my credit and credit score. Seems to be working (old score used to be 560).

Money is a bit tight though right now because I’m also trying to get myself a college degree. Did the idiot thing and dropped out years ago. I’m paying cash right now, but once I get my gpa back up to par, I can get financial help from fafsa. When that happens, I’ll need a vehicle. I do distance education at the moment, but some of the courses will unfortunately be on-campus. Also I’ve heard that even with D.E., some instructors still like you to come in for labs, lectures, etc once in a while. So I need something more reliable than having to borrow a vehicle off my friends and family. I think I can afford a cheap vehicle if I plan it just right. But I need to factor in the monthly payments and insurance costs first to decide whether I can really afford it.

On rough average, How much do you think the bike payments and insurance payments would run me per month?

our case has been represented by a BK Lawyer but unfortunately I never get any feedback from him or his office, I went to court 2day & my lawyer did not show up therefore the trustee has continued my hearing for the payment plan for next Wed.the trustee told us that he cannot preseed this case 2day with out our attorney & that the declarations pages have not been filed at the clerks office. our attorney had 30 days before this date to file theses declarations and the attorney has not done his part, we have already & always provide the lawfirm all proof of payments with money orders, mortgage/bank/car/Statements all paid on time we are current with our loans. we are scared that the trustee might convert our case to a CH 7. we dont want 2 Loose our home we have Equity on our mortgage this is why our case was converted 2 a CH 13 by this attorney. please give me advise but the truth what will happen 2 us & our home. we are husband/wife filing for BK 13, we have no minor children our kids are adults now.& we are paying for our 2nd & 3rd loan with the bank all current.& we are making the Trustee’s payment on time & current. tell me what can we do?

I am thinking of claiming bankruptcy. I am a person of high morals, and have never been late with any payments for at least 15 years. I had to buy a home for my twin and I to live in because she suddenly had kidney failure. So, I bought a home that would accomodate both of us. After she came to live with me, I donated my kidney to her and she became healthy, went to school and moved on in life. Now I am in this home that is too expensive for me. Because of the housing market, it is not wise to sell at this time. What can I do? I owe too much money now. It just seems unfair to let my accumulated bills not to be paid by me. It is either my home or the bills.

Then, read it through carefully and correct the errors by inserting the proper punctuation marks or deleting those that are incorrect.

Post the revised copy in the provided text box.

Foreclosure Filings Hit Record High
By Kenneth Musante,
CNNMoney
Posted: 2008-05-14 13:00:31

NEW YORK (May 14) — US foreclosure filings reached a record high in April rising almost 65% over the previous year and putting municipalities at risk by cutting into the value of taxed property according to a study released Wednesday.

Some 243,353 households nearly one in 519 received a foreclosure filing during April according to the US Foreclosure Market Report from RealtyTrac an online marketplace that tracks foreclosed properties That was up 4% from March, and surpassed the record of 239,851 set in August 2007.

It’s "the highest monthly total we’ve seen since we began issuing the report in January 2005 said chief executive James J. Saccacio in a statement.

RealtyTracs measure of foreclosure filings includes notices of default auction sales and bank repossessions According to the report, 54,574 were fully repossessed by banks in April.

Property tax plunge: The record number of foreclosures added their weight to an already saturated real estate market pulling down home prices Plunging home values reduce the money that cities villages and towns collect in property taxes.
In particular jeopardy are parts of Nevada California Arizona and Florida whose states maintained the highest foreclosure rates, according to RealtyTrac.

"For example the city council in Vallejo Calif. – part of a metropolitan area with a foreclosure rate that ranked sixth highest in the nation in April – last week voted to have the city file for bankruptcy said Saccacio.

The state of California had the second-highest foreclosure rate in the nation up 112% over the previous year and affecting about one in 204 households The top spot among states was held by Nevada which maintained a foreclosure rate 3.6 times the national average affecting about one in 146 homes.
Nationwide single-family home prices have fallen 7.7% since the beginning of the year to the lowest level since at least 1982 according to the National Association of Realtors and data from real-estate broker Zip Realty showed that the number of houses on the market grew by 3.5% in April.

With more homes being seized by banks, local governments also lose out on tax revenue from sale transactions. "It’s really hitting the municipalities from multiple fronts said RealtyTrac marketing vice president Rick Sharga in an interview.

Ten hardest hit metro areas: Cities in California and Florida have been particularly hard-hit. Areas in those states accounted for 9 of the top 10 metropolitan foreclosure rates.

The California metro areas of Merced Stockton Modesto and Riverside-San Bernardino took the top four spots. In Merced one out of 66 households was hit by foreclosure in April.

In Florida Cape Coral-Fort Myers came in at number 5 Port St. Lucie-Fort Pierce and Fort Lauderdale came in at numbers 9 and 10.

Also making an appearance was Las Vegas a city that had seen heavy real estate speculation at number 7 with one in 116 households receiving foreclosure notices.

As Congress debates plans to prop up troubled homeowners the foreclosure rate shows little signs of slowing. Delinquent mortgage payments which lead to foreclosure will likely rise over the next six to 12 months according to a key mortgage trend statistic from First American CoreLogic.

Copyright 2008 CNNMoney
2008-05-14 06:06:18

If a person files chapter 7 bankruptcy, will he/she get to keep any property?

What about chapter 13 bankruptcy?

I know it really depends on the person’s income and how deep they are in debt, so I’m going to give a scenario.

The person:
-owes family members money (,000)
-still has to pay off the house (4,000 left)
-has a business with equipment (more than ,000 worth of equipment)
-the business lease is (,650 each month)
-credit debt (0,000)
-no one has sued and no one is currently suing him/her
-two cars that has been paid off, but the bank still has control of it (,000)

PLEASE ANSWER BACK THOROUGHLY AND QUICKLY!!!!!
Home Equity Loan (,000)

I went to collections for 3,000 credit card had a lien Hold on my Car registration and now I cannot renew after a few months. I declared Chapter 7 Bankruptcy and got the discharge. I called the collections company and they told me that the lien hold will stay because I got it before I declared chapter 7. Please Help.. Will like more insight on this.

You know everyone can have bad circumstances in life, which are beyond the control of the person. In my case I faced a medical emergency in june 2009 and needed an immediate surgery or fatality could result. I had a strangulated umbilical hernia and the intestine’s blood supply was choked, it was twisted and resulted in bowel obstruction. The pain was intense and if medical treatment isn’t sought, it becomes fatal due to permanent intestinal failure. I went to the ER at 2 am and they did an immediate stomach surgery. I was hospitalized for several days. After being released i got a bill of tens of thousands of dollars. I was already unemployed and it was recession. There is no way i could have paid such huge bill being unemployed. I had to file bankruptcy and as a result all my other debts were wiped out. I could not even afford any health insurance. Now an employer is interested in me for offering me a job because i am a recent college graduate with bachelor of science in math. The job description states that the applicant must be able to obtain security clearance. So this means i won’t get the job? How is that my fault? Its an information technology job and i fail to see what bankruptcy has to do with my ability to handle the job.

I have a account in charge off status with HSBC auto finance. I payed this loan for two years before filling chapter 13 bankruptcy. I made payments into the chapter 13 trustee for 3 years before falling ill, loosing my job, and becoming unable to make the payments. Since then I have tried to make good on my debts and pay some of the creditors. The one that I am having problems with is HSBC! I have called and offered to pay a portion of the debt in return for them to leave me alone and stop with the harassing phone calls. The phone numbers they are calling aren’t even mine but worse the people I listed as references 6 years ago. The first offer I made was denied and after pulling together my resources I was able to offer more money. The offer now sits at 50% of the balance. They still will not settle and the vehicle blue books for less than what I am offering, and still all I hear from them is the word RE-PO. I don’t want to have to file bankruptcy again and have had no problem with other creditors, but I have to do something ASAP before these people drive me crazy. Oh and I ran my credit report and it shows the account has been charged. Also the vehicle they want so bad has no value since it needs a transmission and has not run in almost 3 years. Any insight or advise is greatly appreciated.

I just finished a Chapter 13 Bankruptcy, and will be calling Sallie Mae here to try to work on a payment plan or something. I am just a little worried I will be back in the poor house.

After paying "real" bills, I have about 5.00 left over a week for gas, and groceries for me and my son. After I did some online calculators from different websites, they all show that I must make at least a minimum payment of around 0.00-400.00.

I of course have had some bad experiences with them right before my bankruptcy started. They even called me while I was 1 year in my bankruptcy, and threatened to take my house if I did not call somebody to try to refi my house so I could pay them. I called my lawyer to tell him, and he told me that he would take care of it. A week later the guy lied and called me again and said that my lawyer says that I should still pay them.

So, as you see I am definitely regretting this. Any advice would be appreciated.

I’ve been in a chapter 13 plan for close to 3 years in my 36 month plan. My arrears to my mortgage company are a top priority to receive payments from me but the trustee has made a huge mistake and my arrears haven’t seen a dime in three years but has now corrected the problem. (the correction: my arrears will start seeing payments on a regular basis for the remainder of my extended 2 years.) But, my attorney wants my plan to be extended for two more years because of the mistake. Do I have to just lay down and except this because of the trustees mistake or is there anything leagally I can do as far as having my arrears caught up some kind of way because of the three years of non-payment towards them by my trustees?

Please someone explain this to me. I am having a divorce. All the equity that was in the house was used to pay my for my husbands business. I know I need to sell the house to get out from under this mound of debt. Is bankruptcy the best solution? My husband wants to pay me back the 100,000.00 back over a period of 10 years.

So recently I have posted a car on eBay. It went up for the seven days that you have to bet on it but none of the bids went up to my price standards. The last bid was 12,500 and I was specifically asking for 20,000 because the car is not even worth in the 12,000 category, The title is in my hand I paid off the car so its not taking over payments situation. So the bidding ended and I refused to sell it to the last bidder and I filed a refusal case on eBay to not sell it to him, but the guy was threatening me if I didn’t sell it to him he would sue me. Cops were involved and i don’t know what to do if I have to sell it to him or not. In addition I’m only selling this car because I need to pay of debts and I’m also filing for bankruptcy and I can’t deal with this guy threatening me to sell him the car or he will sue me. What could I do? Please tell me as soon as possible.

I took out a private student loan to accompany my Stafford loans and scholarships for my undergrad. The loan was for ,000 and was co-signed by my parents. I was a freshmen when I took out the loan and am in my last semester now. A year ago, my parents filed for Chapter 13 bankruptcy, and things have gotten weird from there. My Stafford loans were left untouched, but my private loan defaulted (apparently because of the bankruptcy?). I of course freaked out, having not been notified that this would affect me like this, and went to a a credit check website to see what damage this had done to my credit report. Now I am thoroughly confused as to what’s actually going on. My credit report from all three bureaus shows that account to be "paid as agreed," is in good standing, is not delinquent and posts a {content} balance with a {content} scheduled payment. My other loans show their appropriate balances and scheduled payments. That loan is also listed as a closed account and is not listed in my total debt on my credit summary, but my other loans are correct to the cent. The extra notes from all three bureaus state that a claim was filed with the government for the insured portion of my loan balance and that the loan was sent to recovery. But again, the account is listed as "closed." It also lists that the loan was sold in the same month that my parents filed for the bankruptcy. Could that be affecting things? I have not been notified of anything and wouldn’t even know what was happening at all had I not gone digging. I have tried calling the loan company twice to inquire about this matter and have received no response. The loan company has not sent me anything to collect on that loan even though I should start repayment soon (I start repayment on my Stafford loans next month). What is going on here? I know that student loans are not covered under bankruptcy protection, but why is the account listed as closed and with a {content} balance? Is this going to come back to haunt me?
In response to the two answers, I have tried on three separate occasions to contact the loan company, First Marblehead. They have ignored my calls and inquiries, not bothering to get back to me. I have printed off my call log from AT&T as proof in case they try to deny it. I don’t want to get screwed over here.

Also, upon looking more in depth at my Experian report, I saw that this part of my credit history (the loan) is set to be removed in 2015, seven years from when the bankruptcy was filed. What is that about? If my loan was up for the standard repayment period of 10 years, then it wouldn’t be finished or removed until at least 2019. Any thoughts?
Also, though I am not listed on the bankruptcy, I was a dependent when my parents filed and am currently still a dependent. And at the time the loan was taken out, I could not even get a loan without a co-signer. I am beginning to wonder if they were put on the top line by the bank even though the loan was taken out for me.

After being laid off a few months ago… and having lots of debt for having to keep a roof over my family’s head, the **** hit the fan. So… long story short:

I’ve got 4 credit cards with accumulated debt of ,000 (pretty much due to expensive but normal life events that happen, NOT excessive spending), and I’m gonna man-up and take the frigging negative hits, I want to get this over with, start the clock ticking, and start fresh in either 7 or 10 years.

I’m could file for bankruptcy, which will show up on my credit report for 10 years. OR, I could just let the credit cards sue me and have default judgments against me, which will fall off my credit report and disappear in 7 years.

No guesses please. If one is favored over the other, please explain. Don’t assume there are any extenuating circumstances, this is just general for now. Check back for my updates to your answers.

Also, I’m judgment proof/insolvent. {content} to my name, no savings, no assets, 0 car, no furniture, no property, no house.

Because of certain family members requiring full time assistance, they will be needing my care for a while. So basically, I’m not worried about having my wages garnished because I most like will not even have anything for the cards to grab for a long while.

Bonus question: Does anyone know for sure, once all the judgments fall OFF my credit report down the road, do the credit cards purge me from their system at some point, and can I get a credit card with them again with a normal credit limit? OR do they keep me in their system forever, and refuse to let me have a credit card with them again? I could see them going either way. I know what they would favor!

7 years ago filed chapter 7 (discharged). married 4 years ago but spouse passed away last year. lots of debt accumulated and was told that I should file chapter 7 again and as soon as it is discharged would be put into a no $down home loan. how true is this? i know each circumstance varies but i have no clue how these things work

We need to regulate how much the CEOs are making. Forget throwing money at the problem, let them fall into bankruptcy. the nation should not pay 1.1 trillion dollars for the mistakes of several companies which could restructure and rebuild during bankruptcy laws.

We need a flat rate income tax.

lower taxes for all classes

no taxes for income lower than 17,000.

STOP SPENDING

STOP regulating oil companies that way they can drill and build more refineries. **** u liberals oil companies are the experts not polticians. That will lower energy costs.

GET RID OF WELLFARE for young people. U get it only if you have a REAL reason for not being able to get a job.

SHRINK GOVERNMENT, which will lead to less spending and less taxes.

Lower capital gains

raise taxes on the rich by a small percent to help pay for deficits.
lower death tax

regulate helathcare costs slightly.

STOP regulating and forcing banks to give out the very sub-prime loans that killed us. We don’t have the right to houses.
Source(s):
REAGANOMICS, CLINTONOMICS
Deregulation was one of the main reasons for our fault. We need to self regulate OR have limited regulations… I’m not an ideologue…
Thanks for all your opinions. They are very helpful…

ok am the oldest of five,three of my siblings aren’t working,and the youngest sibling is in the navy stationed in FL. my mother has been gone now for about 3months are so. she was in a chapter 13 bankruptcy and the only thing she was basically paying on was her truck. her home is paid for. i am the only one who is concerned enough and looking out for all my siblings(not just because am the oldest) but because that is what my mom would want all of us to do. now my sister that’s right behind me has moved her and her boyfriend in my moms house been there since our mom was in the hospital and now even after the fact that she is gone. my brother that was living there wants to work but it’s going to be hard to find a simple job when he doesn’t have a diploma are GED. my sister that’s living there doesn’t want to work but does get ssi every month. my mother had been in that house for about 13-15 years. and a large sum of money my mother got back for my sister being on ssi helped her get that house. so my sister’s boyfriend but in her head saying that she should live in the house since her money bought it. but my mother bought the house for all of us. basically what i have been told is in order for us to keep my mothers house and to stop from paying off all her other debt that is in the bankruptcy i(since nobody else is working) have to continue to pay on the truck so that we wont get overwhelmed with the debt of the bankruptcy and eventually get my moms house taken. we also have to do a succession which is going to be another headache in itself because it’s like nobody cares but me. am in the state of louisiana. can anybody help me. i really want to keep my mothers house but at times i want to say forget everybody but that’s not who i truly am. help please.
oh and to add to it the same nite my mother passed i was the one to put it all on the table about how we would do everything. i told all my siblings it would be a family house and that we all need to be understanding to each other. now everybody had their own place but my brothers. the one in the navy, and the one who was living with my mother while she was alive. the only one i am concerned about helping is him. plus i dont want to sell my mothers house because i want more to remember her by. but is that selfish are just plan dumb? am trying to be the bigger person in this drama but it’s hard.