Yesterday, my family wanted to buy a new car.
We spotted a Camry 2011 Sports Edition at k.
Saleperson was really nice but we asked for k but the saleperson said that he couldn’t do it and need to ask his "manager" if it was ok to to sell it for k.
10 mins later, saleperson was like, ok, the manager said it was ok to sell it for k.
Then manager comes out and asked the saleperson what the hell was he doing. He then suddenly said that we can’t buy that car cause he’ll be losing money if he sell that car to us.
The manager was like… hell no to us. But he did make a deal with us.
He said we can buy that car at 175% interest with ,000 downpayment but he will need to take away those racing wheels away from the car. The final price was ,000 at 50/month.
Then my dad was like, are you joking me?
Then the manager was like, there’s no way that I can sell this car to you for that cheap because your credit score doesn’t even reach 750 and is only at 715 right now, plus you are a bankruptcy person, chapter 13. So it is either you take this deal or no.
(Manager yelled back at my dad so loud that everyone heard that we used to be bankruptcy and also told them our credit score in the entire building. Isn’t those things usually kept private?)
We were bankruptcy in 1991, that was almost over 20 years ago and we paid it all back.

So… what the hell is his problem?
And seriously… do you think they will lose any $$ if they sell a k car for k?
I doubt it unless they bought the car at k.

Anyway, I kinda felt bad for the saleperson, we wasted over 2 hours trying to find a car.
But, do you think the manager sounds racist?
We’re planning on talking to the boss tomorrow.
My bad… the manager is Philippians and we’re Chinese.
I guess I missed this part, he also told us that since We are Chinese, we can’t afford this car and that once you buy it, in 1 month, we’ll throw it back to them. He also told us that we should go back to China and buy a car there.

I just bought a house and am moving there this weekend. I’ve been living with my boyfriend of 3 years in his house for a year. His house payment is eating him alive, which is why I got the very cheap townhouse for us to move. He has an ARM and his house is 0,000 below what he paid for it 5 years ago. There was not any real plan per se, but either bankruptcy or renting it out were what we talked about. Now that the time has come, nothing has happened. He has just frozen the past several months. It is me who is consulting a realtor for him in case he wants to rent it out and I’ve contaced and paid for a lawyer that he consulted for a bankruptcy.

He doesn’t qualify for chapter 7 unless he leaves his job and he loves his job. And he doesn’t want to do bankruptcy anyway.
Chapter 13 is a mess and I thought it wasn’t worth it.

However, his best friend is losing his house and guess what? He wants to rent out his house. So basically, my boyfriend is telling me he won’t be able to help me with only 0 his share for my house (his payment is 00) because he wants to pay the difference of his own house!

I’m very frustrated! I know the house is sentimental but I’ve been talking about getting a house since last year. It has been MONTHS that he has known this was coming and he is still frozen. So I need to get a roommate (I could afford it on my own but I do have a lot of debt to payoff) and of course, he’s telling me this a few days before we move.

I even planned for my boyfriend to have the whole small basement to himself and his studio (he’s a musician) and now he is telling me its too small. Gee, a whole house to share with just you and your girlfriend plus your own basement to have to yourself for your studio for only 0? Am I being too nice? So it sounds like he wants to keep his studio at his current house. In that case, I shouldn’t feel bad about renting out the basement, right?

He says he wants to live in both houses! I just want to live in the new house. I also feel his friend is taking advantage of him.

Do you think a few months down the road he will see things differently?
When I questioned his ability to pay then he questioned if the only reason I want him to move in is to help pay the mortgage. That hurts. No, but I DO need to pay the mortgage. And I shouldn’t have to feel guilty for asking. I shouldn’t have to feel bad if he has no extra money because he’s helping out his friend. Perhaps renting out the basement, the one I was going to give to him for free, might not be a bad idea.

Should I just charge it all on my credit card and then declare bankruptcy because I know I can’t pay them off.

Or should I just be like everyone else and take tons of loans I also couldn’t pay off.
I’m at the end of my rope here, I don’t make enough from my full time job to even pay for half a year of college, let alone two or possibly four.

I want to go into communications–media production, creative writing.

I’ve exhausted all colleges. Community colleges, online, etc. I’m in Michigan, and I wanted to go to GVSU, but there’s no way I can afford it. I don’t care which school I go to, a community college is fine with me.

I graduated two years ago and have been working since then, saving practically all of my money. But I don’t have enough saved up at all.
I don’t know how to look for scholarships and grants. All I’ve done is the FAFSA. Please, any advice would help.

I mean Chapter 13 – the one where you wipe it all out?
I’m not REALLY considering it… but I’m wondering what you think?

My wife and I are filing chapter 13 bankruptcy. Our lawyer told us today that we would have to go to 2 hearings in court once we sign the papers for the bankruptcy. What exactly happens at these hearings? Are we going to get bombarded with questions by lawyers from the creditors? Is it a fairly smooth process I mean once we sign the papers the trustee has approved the repayment plan right?

okay, i need advice. im nearly 21 years old, and working at a fast food joint. i made a stupid decision when i was 18-19..got in a car accident with no insurance, and hit two different cars. each car insurance company was wanting 4500 from me, i had been paying 100 bucks a month to each company since this all happened. a medical injury bill came in from one of the companies, so instead of 4500, i owed 17,000. along with this accident, i have criminal fines i have to pay (did stupid things when i was younger) that total out to about 3-4500. i realize bankruptcy wont relieve me of my fines.

my mother also put me in debt with my debit card, making me owe 2000 dollars. so, im paying 300 bucks a month in the accident/credit card alone. plus 100 to one fine. and my wages are going to be garnished (25 percent) for a bit for another fine (i didnt know i had other fines that still needed to be paid..ive had a rough start in my life, i want nothing more than to pay these things off)

if i add all that up, thats 700 bucks a month total in debt. or aroud 400-500 after my wages arent garnished anymore. i make about 1,000 a month. im renting out a room in a house. i own nothing.

i saw a lawyer, he said it’d be a good idea to file because its better to do it while you’re young than older..because i dont have anything to lose, and i dont plan on buying a house anytime soon, or a brand new car (i prefer buying from craigslist)..so im thinking it might be a good idea to file. i know its a last resort, so im seeking advice from the more mature and wise. 100 bucks a month to a 17k debt..thats about 15-16 years of paying that. every month i call, they say if i miss a payment, then our agreement is over and ill owe it all. in 15 years, thats a lot of chance to miss a payment, or slip. also, the lawyer told me that having this unpaid debt over my head, for so long looks awful. and my credit may never be decent, until its actually paid off and clear.

the sooner i have this debt clear, the sooner i can put more money into my criminal debt, so i can wash my hands from that. i mean, i realize that 20-21k in debt isnt that much. but, in my situation..and given how much i can actually afford right now.. ill be stuck in the same puddle for a very long time, BARELY squeezing by..for years. atleast 2-3 maybe 4, which is when i’d expect to get most of my other debt off besides the 17k collection.

what do you think? i live in washington if it matters. also, i am thnking about going to a trade school and getting into the medical field..like being an xray tech or some sort.. i know bankruptcy would disable me from getting a job at a bank (well more than likely) for example..

I was just curious if anyone out there has ever filed for chapter 7 bankruptcy online and if so, what do I need to know, how much will it cost, is it reliable and sound, do I have to make an appearance in court, etc. Any info on this matter would be greatly appreciated.

I was reading this article in rolling stone about this girl called kiki kannibal who put herself online and posed in revealing photos and all that at the age of 14. She got oodles of attention but also got death threats and stalkers and was even taken advantage of by a 19 year old boy. But, she loved the attention and despite all the danger she was facing, she still kept up her Internet life. Her mother even supported her in this and said she was all for creativity. Her family is now dealing with bankruptcy after having to leave their home without notice to protect themselves, yet they still support their daughter and her Internet life.

Whose to blame here? Kiki’s mother? Kiki? The Internet? Does the old adage, play with fire and get burned, come into play here? For instance, Kiki verbally attacked her attackers through the Internet, provoking them further. If you were her mother, what would you have done?
couldn’t agree more satannn.

The Real Culprits In This Meltdown
By INVESTOR’S BUSINESS DAILY | Posted Monday, September 15, 2008

Big Government: Barack Obama and Democrats blame the historic financial turmoil on the market. But if it’s dysfunctional, Democrats during the Clinton years are a prime reason for it.
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Read More: Business & Regulation
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Obama in a statement yesterday blamed the shocking new round of subprime-related bankruptcies on the free-market system, and specifically the "trickle-down" economics of the Bush administration, which he tried to gig opponent John McCain for wanting to extend.

But it was the Clinton administration, obsessed with multiculturalism, that dictated where mortgage lenders could lend, and originally helped create the market for the high-risk subprime loans now infecting like a retrovirus the balance sheets of many of Wall Street’s most revered institutions.

Tough new regulations forced lenders into high-risk areas where they had no choice but to lower lending standards to make the loans that sound business practices had previously guarded against making. It was either that or face stiff government penalties.

The untold story in this whole national crisis is that President Clinton put on steroids the Community Reinvestment Act*, a well-intended Carter-era law designed to encourage minority homeownership. And in so doing, he helped create the market for the risky subprime loans that he and Democrats now decry as not only greedy but "predatory."

Yes, the market was fueled by greed and overleveraging in the secondary market for subprimes, vis-a-vis mortgaged-backed securities traded on Wall Street. But the seed was planted in the ’90s by Clinton and his social engineers. They were the political catalyst behind this slow-motion financial train wreck.

And it was the Clinton administration that mismanaged the quasi-governmental agencies that over the decades have come to manage the real estate market in America.

As soon as Clinton crony Franklin Delano Raines took the helm in 1999 at Fannie Mae, for example, he used it as his personal piggy bank, looting it for a total of almost 0 million in compensation by the time he left in early 2005 under an ethical cloud.

Other Clinton cronies, including Janet Reno aide Jamie Gorelick, padded their pockets to the tune of another million.

Raines was accused of overstating earnings and shifting losses so he and other senior executives could earn big bonuses.

In the end, Fannie had to pay a record 0 million civil fine for SEC and other violations, while also agreeing as part of a settlement to make changes in its accounting procedures and ways of managing risk.

But it was too little, too late. Raines had reportedly steered Fannie Mae business to subprime giant Countrywide Financial, which was saved from bankruptcy by Bank of America.

At the same time, the Clinton administration was pushing Fannie and her brother Freddie Mac to buy more mortgages from low-income households.

The Clinton-era corruption, combined with unprecedented catering to affordable-housing lobbyists, resulted in today’s nationalization of both Fannie and Freddie, a move that is expected to cost taxpayers tens of billions of dollars.

And the worst is far from over. By the time it is, we’ll all be paying for Clinton’s social experiment, one that Obama hopes to trump with a whole new round of meddling in the housing and jobs markets. In fact, the social experiment Obama has planned could dwarf both the Great Society and New Deal in size and scope.

There’s a political root cause to this mess that we ignore at our peril. If we blame the wrong culprits, we’ll learn the wrong lessons. And taxpayers will be on the hook for even larger bailouts down the road.

But the government-can-do-no-wrong crowd just doesn’t get it. They won’t acknowledge the law of unintended consequences from well-meaning, if misguided, acts.

Obama and Democrats on the Hill think even more regulation and more interference in the market will solve the problem their policies helped cause. For now, unarmed by the historic record, conventional wisdom is buying into their blame-business-first rhetoric and bigger-government solutions.

While government arguably has a role in helping low-income folks buy a home, Clinton went overboard by strong-arming lenders with tougher and tougher regulations, which only led to lenders taking on hundreds of billions in subprime bilge.

Market failure? Hardly. Once again, this crisis has government’s fingerprints all over it.

*In the original version of this editorial, the Community Reinvestment Act was mistakenly listed as the "Community Redevelopment Act".

http://www.ibdeditorials.com/IBDArticles.aspx?id=306370789279709

I have rented my home for over a year and we have just found out that our landlord is in Bankruptcy and her house is in the bankruptcy payment. She makes a monthly payment for Chapter 13. Should she have rented to me. Also she gave me a copy of lease, but it did not have the page where I signed the lease. We want to buy the house but we cant until after August. She sent me an email stateing if we dont have preapproval before July 1, we need to leave by August 1. Our lease staes July 16,7 till July 16,08, but then it states two year lease. Doesnt she have to give me written service? What about her bankruptcy? What do I do about the lease? We also gave her earnest money it states that in the lease and it specifies that. I dont want to move but I need more time and she wont give it I think something is fishy.

me and my husband just completed a chapter 13 in august 2008. our lender CITIMORTGAGE.reviewed our bankruptcy court docket and has confirmed that a reafirmation agreement was not executed before the bankruptcy discharge was entered on or before we filed. CITIMORTGAGE said under the bankruptcy code, a reaffirmation of debt is not valid unless all of the requirements under bankruptcy law are followed. among other things, this included of filing a fully executed reaffirmation agreement (signed by all parties) with the court before discharge. so CITIMORTGAGE lien remains on our home..i call my lawyer and ask him about the reaffirmation agreement and he told me that reaffirmation agreement in the state of tennessee is only required in a chapter 7 and i and my husband filed a chapter 13…when i tried to talk to CITIMORTGAGE about this they said i am required…i dont know exactly were to go from here…my lawyer says no and citimortgage says yes….is there anyone out there that can explain to me about a reaffirmation? and who is telling the truth and what should i do because i dont know where to start to get this lein off my home and how to go about aquiring the reaffirmation agreement if im actually required.

I am thinking of filing for bankruptcy and this company was online, they prepare all the documents with the information I give them and let me take as much time as I need. How can I check them out and see if they are for real and reliable? Any ideas where to look for this information?

I work for a company that is currently in bankruptcy chapter 13. It owes 42 million to creditors. The reason this company is in bankruptcy is bad personal real estate deals by the CEO. The actual business is still profitable.

My question is, I may know of an investor that can come up with million to get him out of debt.

What can/should I ask for if this deal does go through?

I am currently in a chapter 13 bankruptcy. My case was confirmed in 4/10 I used this bankruptcy to pay off a lot of debt I had including taxes and put it into a repayment plan. A lot of what got me here is that my holdings were decreased. During 2010 I forgot to claim 0 on my w2, and so I owe some taxes for 2010. I owe about 1300 dollars. I have now changed my w2 so that the irs takes the max out of my paycheck. Do I pay these taxes separately? What are my options. I can pay the 1300. I just don’t want my case dismissed. Any answers would help me a lot Thanks.

if a bank takes some money from your savings account to bring a loan current while you are protected by chapter 13 bankruptcy

I just had to file my second bankruptcy. 2 in 4 years. This time it’s chapter 13 so atleast I’ll be paying off my debts. I need a place to live. Any suggestions, I make a reasonable cash income of over 3 grand a month.

What happens to many athletes and their money is indeed hard to believe. In this month alone Saints alltime leading rusher Deuce McAllister filed for bankruptcy protection for the Jackson, Miss., car dealership he owns; Panthers receiver Muhsin Muhammad put his mansion in Charlotte up for sale on eBay a month after news broke that his entertainment company was being sued by Wachovia Bank for overdue credit-card payments; and penniless former NFL running back Travis Henry was jailed for nonpayment of child support.

In a less public way, other athletes from the nation’s three biggest and most profitable leagues—the NBA, NFL and Major League Baseball—are suffering from a financial pandemic. Although salaries have risen steadily during the last three decades, reports from a host of sources (athletes, players’ associations, agents and financial advisers) indicate that:

• By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress because of joblessness or divorce.

• Within five years of retirement, an estimated 60% of former NBA players are broke.

http://sportsillustrated.cnn.com/vault/article/magazine/MAG1153364/index.htm

According to Chelmsford wealth counselor Szifra Birke, roughly one-third of lottery winners find themselves in serious financial trouble or in bankruptcy within five years of turning in their winning ticket.

http://www.totalbankruptcy.com/news/articles/miscellaneous/lottery.aspx

Million Florida Lottery Winner Dies Broke
April 25, 2008

Kris Alingod – AHN News Writer

Washington, D.C. (AHN) – A former lottery winner who was facing tax fraud charges died broke early this month, reports said on Thursday.

Alex Toth, who won a million jackpot nearly two decades ago, died early this month, his attorney Bjorn Brunvand is quoted in a report by the Suncoast News. He was scheduled to stand trial in June for filing fake tax forms together with his wife, Rhoda.

Toth and his wife were charged with tax fraud in 2006. His wife has entered a plea agreement with prosecutors, according to the Palm Beach Post.

Florida lottery winner dies penniless

Jackson County Floridan
By Elaine Silvestrini, Media General News Service
Published: April 24, 2008

TAMPA – Former lottery multimillionaire Alex Toth, who was broke and facing tax fraud charges, has died at the age of 60. Toth was scheduled to go on trial in June, accused of filing fake tax returns with his wife, Rhoda, who has pleaded guilty and is awaiting sentencing.

By the time the couple were charged in 2006, authorities said they appeared to have no assets. The million Florida Lotto money won 18 years ago was long gone, and the Hudson couple were living in squalid conditions, their only electricity coming through an extension cord rigged to their car engine.

The Toths said they lost the money through gambling, gifts and living the high life. The money created rifts in their family, leading to a lawsuit between Rhoda Toth and her son in 1996. Toth’s attorney, Bjorn Brunvand, said his client died in early April. Pasco County Health Department spokeswoman Deanna Krautner confirmed Alex Joseph Toth died April 5. The cause of death was not released.

"If you want to understand better why so many states—from New York to Wisconsin to California—are teetering on the brink of bankruptcy, consider this depressing statistic: Today in America there are nearly twice as many people working for the government (22.5 million) than in all of manufacturing (11.5 million). This is an almost exact reversal of the situation in 1960, when there were 15 million workers in manufacturing and 8.7 million collecting a paycheck from the government."

source: http://online.wsj.com/article/SB10001424052748704050204576219073867182108.html
no, there’s no implication of that… it’s just that it’s important that the public sector mirrors the private in terms of pay and employment. The math simply does not work if you have a bloated public sector being propped up by a weak and malnourished private sector.
Intel, who is based out of California, just opened up 2 manufacturing plants in the United States and neither are in its home state.
Exactly, we wouldn’t need to ship manufacturing jobs overseas if we didn’t have bureaucrats regulation and nickle and diming industry to death
regulating*

I would like to hear from people who filed and experience chapter 7 bankruptcy. I want to know to if it acutally stays on your credit report for 10 years. Is it also possible to get an apartment and a checking account from credit unions or banks?