I would think Chapter 7 where all of your debts are essentially wiped clear.
Chapter 13, is more expensive and you still have to pay back your creditors what you can afford to pay in a 3 to 5 year period.

Clearly, Chapter 7 has to be the more common one.

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.

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?

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 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.

My ex who pays child support is filing bankruptcy

I know child support can’t be forgiven, but, can it be put on hold while he is getting his finances together(chapter 13).

He had me sign a paper a while back -that was from his lawyer, that said they were not going to include child support in the bankruptcy part(easier for him?)
What does this mean they are not including it – and does this benefit me, or is there something I don’t know and I should?

I filed bankruptcy in 2006, chapter 13, and was making payments to a trustee. I had to stop sending those payments, and now one of my hospitals is filing for a judgement. Don’t know if I need a lawyer or not, etc. What can they attach i.e. home, checking account, etc.

My wife and I filed for Chapter 13 two years ago and have a little over 2 years left on paying the debt back. This payment is taken out of my check each week. I will be filing for divorce in two weeks and I am curious if anyone has been through this or if any one knows what will happen. Will I have to continue paying all of this…will it be split…will I have to pay it plus child support? We have a 12 year old daughter. Any help is appreciated. Thanks!!
FYI: We live in Georgia.

To start, I am now pretty humbled. I was making 60k a year, driving a new sports car, and living life happily with minimal debt. My wife and I made some poor financial decisions and I was left with a bit debt after our divorce. It is now at a point where with the economy, working in the sales field, I am only making just under 40k. I have 22k left to pay on the car at 0 a month, paying about 0 a month in gas to travel to my job,about 20k in unsecured debt. I had to abandon my lease in the apartment that I was living in so i have no clue what I owe to them. I tried to trade the vehicle in for something different but trade in is only worth 15k, so about 7k in negative equity, and with a low to mid 500 credit score, nobody is willing to work with me. I have thought about filing a bankruptcy, but even at 40k a year, I am above my means for a chapter 7 bankruptcy according to lawers, and breaking too even per month on a chapter 13. Maybe someone has a idea of a solution. thanks.

Unemployment is not enough to live out of and finish my bankruptcy. I have come so close where is my bail out money for me and my house. I tried to do he right thing and filed a Chapter 13 to pay what i owed. Not knowing i would have no job in least than 3 years.

Bankruptcy Discharge Letter Time?

I filed for Chapter 13 in Sept. 5, 2002 and the release date is Sept.5th. 2007. I will have overpaid my payments and want to know what the time period is for RECEIVING THE DISCHARGE LETTER IN THE MAIL?

i was woundering when i file for bankruptcy. how that will effect my student loans. that are not covered under chapter 13. which is what i want. think that is stressing me out is if the bank will pull my loans out if thay find out about my bankruptcy. i just started school 1 week into school. im not looking to skip out on my gov student loans. im just looking to fix problems in my past without destoring my future

Liens placed by both myself and the State Agency, USDA is the lender, FHA backed, US bankruptcy court involved, deadbeat filed Chapter 13 in 5/08, he defaulted the payments. Child Support is a priority and must be paid, is my understanding. Please help, I am getting different answers and need to know what my next move is to enforce the obligation and when I get the money? Thanks!

*1)Have you ever filed for bankruptcy?
Yes
No

*2)If so, why did you file for bankuptcy?
Gambling problem
Shopping problem
Job loss
Theft
Other (Please Specify):

*3)How old were you?
18-25
26-35
36-50
51-70
71-^

*4)How many credit cards did you have at the time?
1-3
4-7
8-11
12^

*5)Did you become debt free after declaring bankruptcy?
Yes
No
Other (Please Specify):

*6)What chapter of bankruptcy did you file for?
Chapter 7
Chapter 11
Chapter 13
Other (Please Specify):

*7)What was you marital status?
Single
Married
Divorced
Widowed

*8)What did you file bankruptcy under?
Business owner
Consumer
Other (Please Specify):

*9)Are you currently debt free?
No
Somewhat
Yes
Other (Please Specify):

*10)Was your credit scored extermily effected?
Somewhat
No
Yes
Other (Please Specify):

If you are in a Chapter 13 and you receive a settlement for pain and suffering from an auto accident, can the bankrupcty court take that from you?

I filed chapter 13 in March and am making payments to the trustee. I didn’t file chapter 7 then bc I couldn”t afford to lose my car. My lawyer told me that I wanted to keep it until I saved up a down payment for a car then I could file chapter 13 and change it to chapter 7 later.

When do I lose the car though? Am I going to lose it as soon as I sign the papers? How do I make it to where I always have a car?

I am considering filing for bankruptcy and have two unsecured loans totaling about ,000. Does a BK cover this? Also, what is the difference between a Chapter 7 and a Chapter 13.

how to proceed towards bankruptcy and what is the difference between chapter 7 and chapter 13