My husband’s business is run as a sole proprietorship. We are considering filing personal Chapter 7 bankruptcy. One of the credit cards we would like discharged was used for business expenses only. We have already deducted the business expenses on our 2010 income tax, even though at this point they have not technically been paid. If the debt is discharged, how does this affect our income taxes? Will we have to file an amended 2010 return omitting the expenses, thus paying more tax? Thanks!

My grandmother and grandfather have accumulated lots of credit card debt mostly because of my mother (she stole their credit cards in the past and ran em up). I believe the debt is over ,000

Grandpas retired. Grandma still works but will be retiring soon. My mom can’t pay their debt all the people in my family work low wage jobs. They simply don’t care about credit anymore. They pretty much don’t need it. They have a place in their home country that they want to retire to.

I guess I’m the problem. The house, they want to leave to me. They almost did the reverse mortgage thing but realized that as soon as they leave it gets taken away. They also are uninterested in bankruptcy since it costs money. Theyve stopped paying a lot of the cards because they just can’t afford it. What should be done?
By the way, we live in Texas. No liens on property & no wage garnishment. More to add to their indifference haha.
They plan on retiring to a different country. No need for American credit there
@the kid: When did I say I would lose money? I’m concerned because they have worked hard all their lives and have helped me a lot, and deserve a break and to finally go back to their true homes outside the US

I worry because they’re my family and I have watched them suffer because of debt all my life. I want to free them of that burden.

I’m a single mom with a six year old daughter. I have worked all my life and never depended on the welfare system. For the first time in my life after 25 years of being in the work force I can’t find a job that will work with my daughter’s visitation schedule with her father I am struggling trying to get any sort of help possible while living on credit cards which I’ll have to one day file bankruptcy when I max out. Anyone out there willing to help a single mother like me or know of an agency that can help? I worked in the mortgage industry/banking and even went back to school to study paralegal in hopes of finding a good paying job yet now I’m in more debt. If you don’t have any sort of a solution or ability to help out please I ask you kindly not to respond. I’m not looking for pity or any form of hurtful comment. Only if you’re willing to help guide me to an organization, government program or even if there’s an individual out there that’s willing to help. I need financial assistance to payoff my credit cards, go to court with an attorney, not by myself or I’ll lose to modify the visitation and find a
full-time job, with insurance. I have a verbally abusive ex-husband that has visitation with my daughter, I have to be home from work by 5:00 P.M. PST 2 days out of the week and every Friday I have to start work at 9:00 A.M., also 1st, 3rd and 5th weekends of the month on Fridays I need to be home from work by 5:00 P.M. so my ex-husband is able to pick up my daughter & practice his visitation rights!. I have asked him, to change his visitation hours so I can work and be home on time for the exchange but he has refused. Who is going to hire me in this economy if I have to ask the employer to accommodate me with my set hours and schedule!? I can’t go back to court because I don’t have anymore money to pay attorneys fees, but in my opinion my ex-husband has 2 attorney’s that have and will represent him in court for free because one is a family member and the other is a friend & in the pst they both have represented him in court. As for the rest of the time, I have someone who can watch my daughter after school while I’m at work but only until 5:00 P.M. but she will not to go through the exchange process. I need help or support, again to payoff my debts, find a job which will work with my schedule until I can go back to court and modify my visitation, that’s if the judge grants my request, or maybe there’s an attorney out there that will have mercy on me and represent me in court without charging to modify our visitation. I need to work and I need help.

Thank you

Dear president Bush, I am30 years old been in serving in a little church that had lots of rules since I was 16 I have worked since I was 15 and have tried everything like college for 5 years or more and food industry along with sales fetting no where financially I admit I am a little slow with comprehending paperwork things Ifinally found nails to be the career I want to keep but for 7 yrs pursuing it things came up I started in a salon ,no walkins,1and a half yrs later filed bankruptcy after having a level credit got another job before filing to avoid banckruptcy.then tried again then my brother won full custody of his kid and wanted my help so I quit dong nails went back into teaching which i dislike and for my church under min.wage across town 6 days a week and raised her for 6 months got credit cards to pay gas,her toys and clothes food etc cause she came with none, found out my brother was doing drugs gave her back went back into nails in which the owners sold the salon to a new boss who fired me when I dislocated my kneecap and tore ligaments in which i am awaiting surgery,and cant get unemployment cause it was cash pay and ssi says i didnt put into it wheres the $i have worked for since i was 15 before i did nails.I cant get medical cause Im 30 without kids.My dad has helped me here and there I lived in a trailor by myself I have never depended on men to treat me cause of the raising in that church I wish I did have a kid so I could get help but Im always last on the list or not on the list at all .Ido have a major gift to sing and thats sbout it could you please help me Im still trying to build a clientelle doing nails unmarried with no insurance and in debt bad please respond.Aside from the drama in my life Bush I think you are doing an awsome job and you continue to stand your ground stay with your godly morals and reject any foolishness the media saysthat is not of God i pray for u oftenthankyou anyway

OK here is my problem, I have so many bills that I cannot possibly pay all of them off. I have a ton of old medical bills from back before I had insurance, and I have some more current ones as well, I can’t afford to pay them. I’m pretty sure these bills would add up to probably over ,000 total. I had an auto repossession in 2003 which shows as a charge off for 00 something, I have 3 credit cards that are pretty much close to the limit if not at it already, totaling close to 00. I have an online store account that I owe 0 some dollars on. I have gotten myself in a bind, and I need advice from someone who has been there. I pay on all of the charge cards, the online store, my current truck payment, gas/and or upkeep, rent, insurance, household items, i chip in on utility payments, and groceries, phone bill, and whatever else comes up, and I just cannot afford to put out any more. My main question is what does it take to qualify for bankruptcy eligibility? I pay an auto loan, but the loan is in my fathers name since he got the truck for me, so that will not show as outgoing in my name, how do I get around that? I pay rent where I live, but it is to my boyfriend, so i have no proof per say on paper. Please help, I feel like I’m in a tunnel and I can’t get out. Serious answers only please.
If it would be better for you, you may email me, click on the email or send to johnson.april86@yahoo.com Thank you

I just graduated college a couple months ago and can’t find work. I let my family take advantage of me and run credit cards up, so now I am ,000 in credit card debt. Part of which is a ,000 Care Credit account my step dad used to get false teeth after having his knocked out in an accident.

Now they are ignoring the debts they accumulated and promised to pay or they make excuses why they can’t. I’m an idiot for trusting them! I have sold everything I own to pay for the bankruptcy. I am being sued by two of the creditors.

I have no choice but to file bankruptcy since I have no income and no assets. I am seriously thinking suicide might be an option as I have always valued responsibility and utterly embarrassed by this situation.

I’m so frustrated. How can my stepdad put his teeth in every morning and not feel bad about the utter horror he is putting me in? To make matters worse, he just put a new pond and water fountain in for me mom for mother’s day, complete with bridge and all the pretties. They are also buying a new truck.

I hate my life. Is there a chance for me to recover from this and live a normal life? I am still keeping my car which I am current on payments, but I’m scared and confused.

We are about to file bankruptcy and my husband came up with an idea today that might save us from doing this. Here is the situation. We are losing our house, have about 20000, in credit card debt and a deliquent truck. He has about 80000, in his Ira and if we cash it out we will take home around 45000. giving us enough to pay off everything except the house. I am ok about losing the house but I don’t want to pay big fees on next years taxes. I know the IRS pentalies us for the early with draw but do we have to claim the whole amount or the balance of the amount after pentalties on our taxes and is it worth it. They are wanting us to pay around 1000 per month on a chapter 13 for 5 years. I am so confused. Should we just wait it out and see what happens after the house and just take enough to pay the credit cards and truck..

My grandparents are retired, they get their SSA checks every month, and food stamps. Currently what they receive is enough to pay for bills, mortgage, credit cards, and other expenditures; in other words, the income they receive is enough to get them by. Over the last couple of months they’ve been thinking about leaving their house for good. They refinanced the two mortgages they had on the home mid-2010 and were able to avoid doing this for a while. As I’ve mentioned before, they are not running short on money. Eventually they made up their minds and decided to leave the house once and for all to live with their son who offered them a place to live. There are several reasons for this decision and I feel that they are not relevant to what I’m asking.

My questions are these:

- What will happen to the house once they are gone and stop paying the mortgage? I will assume that foreclosure will inevitably happen, but what concerns me is that they are not physically there to answer any questions or to meet with anyone or reply to any letters/phone calls. I want to know if there is a special kind of foreclosure that deals with cases like these.

- Can it affect them legally in any way?

- Who will take possession of the property?

- From some research I did online on bankruptcy it became obvious that they were not suited to receive the discharge since their financial situation is relatively stable, but I want to know if this could be an option to relieve them of their home and other debts without having to just quit living in their home.

By the way, the property is in Clayton County, GA.

Im having to filing bankruptcy to stop my ex from commiting identity theft on me. He has credit cards with my name and running up debt.

Just bear with me..
We got behind on our mortgage, and credit cards about a year ago, i lost my job, and my husband had his hours cut back. But now i have a job, and he has all his hours back, we are going to file bankruptcy, and we were going to do chapter 7. But if we do we will lose our home, because our mortgage is not current. And then we thought about filing chapter 13, the repayment plan. would that allow us to keep it? But im so scared we wouldnt be able to afford it.
What should we do…Should we lose the home, clear the debt, and just rent for a couple of years. Or should we file chapter 13, and try our best to stay afloat. We have a six year old, and one on the way…. PLease give me some advice, i have no one to talk to too. Thank you sooooo much!

Im 19yrs old, i got two credit cards when i turned 18, one had a 2500 balance and the other had an 8000 dollar balance. and for the first few months i had 200 to 300 dollars in debt and i payed that off from month to month, i recently had my car take a shit, it would have coasted me 5000 dollars for the new engine, so i just bought a used car for 5000 on my credit card. then i was lost my job for a 2 months and i put on another 2000, between paying for rent, ex….. then other things started to come up where i didn’t have the money and needed to pay them. So now i have both cards maxed out. not sure what is best for me to do. I cant afford much over the minimum payments, im not sure if i should go with a debt help/consolidation thing, file a chapter 13 or 7 bankruptcy, i really don’t have many assets they can take. its just getting hard to pay the cards, and other expenses. If anyone has any information that might help me or any tips. it would be greatly appreciated. Thanks All.
i was making 2000 a month now because i lost my job and i found a new on im only making about 700 at a min. up to 1000.
Also i have have a credit score of 753. it was with the help of my mother. she had me on her credit cards sense i was 15. witch really busted my score once i got my own cards and started making payments.

I’ve since married(husband has excellent credit) I have credit cards that I was approved for online without having to fill out all info and one was store card I applied for to get mchdse discount and ended up qualifying for the better store name Visa card so I assume my credit’s good. I pay full balance when there is one. Now this online credit card app wants me to check this box saying my "history clear of bankruptcy" That seems it can go either way. Maybe I don’t have to admit to it because it is technically clear of bankruptcy after 15 years, but if I do check box am I lying, and if I don’t will they automatically DQ me and will this then show up on my credit report? I really only want a card to shop online as I cancelled that store visa card before I realized I should keep it for occasional online shopping as I won’t use my bank card online. Any help is much appreciated. Thank you very much

I am looking for preapproved credit cards for customers with past credit problems and delinquencies. My past issues include a bankruptcy.

They can get a no money down loan, BUT the property doesn’t have a garage & they will need to build one. The garage is what they want to draw from the 401K for.
I am dead set against this. They THINK they can just take out the money with no penalty & not have to pay it back at all. I think that is wrong.
Mom is a homemaker, Dad has a good paying factory job. He is SUPPOSE to be less than 5 years from retiring!! Mom acts as if she knows their finances inside & out, but when I was a kid, she "handled" the finances by maxing out credit cards & they had to file chapter 13 bankruptcy.
I so badly want my parents to move into a home of their own & stop renting. I think the home they are interested in is the best one suited for them. However, I’m afraid that my dad is going to be the one who suffers because my mom is out of touch with what taking that 401K money means.
Yes, Dad is passive & doesn’t like to "wrestle" with my mom.
It seems so much simpler to just leave the 401K alone & take out another loan for home improvements…….HELP
How do I convince them NOT to use HIS 401K towards a freaking garage?

Essentially, it’s a question of dilemma for a friend who allowed her family to use her credit cards in promise to pay on it. As it naturally goes, her family did not pay on the credit cards. Can charge-offs be included in the bankruptcy as well? Thank you in advance.

*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):

I bought my home in 2006 and put down $ 100k, yes its 20% down for a $ 500k house. I have put in another $ 50k in upgrades and remodel. Fast forward to 2009, laid off, no income I resort to using my credit card to pay my mortgage while my house was being listed by my realtor. 6 months went by, then a year, the house remained unsold. I’m up to my limit in credit card debt, thinking to sell the house for $ 350k, which will give me approx. $ 50k to pay my credit cards. Year and a half later, house is in foreclosure; credit card at max limit. No job, no car (sold it to pay credit card debt), ..and now living like a deadbeat.

Credit card companies still call and say "hello". Same story told to them over and over, no income, no job, no money etc. They "understand". Then they sell the debt to collection agency, same thing again. I told them my story..and they don’t care. "When are you gona pay?" I say with what? I can sell my t-shirt and underwear, but that might be worth 25 cents. What good will it do? So now, they are suing me in court. Went there and told the same story…judgment for the plaintiff. Okay, now they want to garnish my wage…but I don’t got no job. They want to freeze my bank acct…I have none. They want to..probably kick my ass..that they can definitely do..but that would hurt them, because if I get hurt and sue, they probably owe me money.

So here is my dilema, should I file Bankruptcy ..as there are other creditor waiting in line to sue me. Or should I go to court and and plea guilty but have no way to pay?

Yeah, I know..I’m a deadbeat, but I don’t blame my misfortune on no one except myself. Lost my life savings and people are laughing at me. What a cruel world this is. To file BK or not to file BK? If I do, I will have a fresh start says a friend. If I don’t, my friend says that the creditors will put my balance on my credit report, and renew it every 7 years…meaning that I can call the credit reporting agency to remove it, but they have a right and probably will repost my balance…as nothing had been collected. Is this true? I thought a negative item must be removed after 7 years, but it could be put back in and stay for another 7 years?? Please help. Thanks in advance.

i have credit cards that are killing me. around 10k debt. i am wondering if i can file bankruptcy on just my credit cards, but not my home and my vehicle. i have never been ever been late on any payment or have missed a payment on anything ever in my life including my credit cards. the interest is so high on my credit cards that im paying 700-1k a month just on credit cards and im barely making a dent on paying them off. so can i do this legally with a lawyer with out anyone coming after my home or vehicle. i live in florida. i also just bought my home october 2009 with a fixed 5.5% interest rate at 165k. my vehicle i have had 1 1/2 years and originally paid 26k on a 3.99% fixed interest rate.

My husband and I filed for bankruptcy chapter 13 back in 2006. We had to file bankruptcy because of my husband had a period of time of unemployment and was unable to pay his bills. One of the creditors that is listed on our bankruptcy petition has been harassing my husband at work saying that we opened a new account back in 2007. Number one, we wouldn’t qualify for any credit cards because of the bankruptcy. Yesterday, a collection company that says that they represent the creditor said that they were going to repossess our car to satisfy the balance of the bill. They can’t repossess a car that is owned by a bank. We are paying on a loan and the bank holds the title. I called the collection agency and told them to stop harassing my husband at work. The agent called me a liar, thief and a crook for not paying back the money. I told him to send proof of a claim of debt. He said he was going to subpoena us and sue us in court. He became mean and belittled me further. I hung up. He somehow managed to trace our unlisted home phone number and called me back 5 times in 10 minutes. I then called my attorney. She called him back and had our Trustee call him also. We are under a automatic stay and a protection order from creditors. According to the courts, we are not to receive any type of correspondence or calls while under bankruptcy protection. This man could be arrested for harassment. My question is if someone on the street were to come up to someone they don’t know and start calling them a criminal, liar. Wouldn’t they go to jail? What gives these "collection agents" the right to harass people?
I think that they all belong in the big house. Not with white collar offenders but hard core offenders. Am I right? Thanks. I’m still feeling unsettled over the whole situation and had to in the end change my phone number. I’m an honest person who is paying their bills on time. Thanks.
We are paying back the creditors we owe money through the bankruptcy court every month. We are disputing the new debt that this collection agency is trying to collect. We haven’t had any credit cards since 2005. Plus, I had a credit rating of over 700 before I got married. I qualified for a home loan on my own before my marriage. I am not a dead beat. My husband was living off credit cards for over 2 years while he was unemployed. The debt was his not mine.

Can I just file bankruptcy? My husband is an authorized user on one of my credit cards, he has never signed anything. Can I have his name removed from the account? Where can I find a means test online to see if I’m eligible for a Chapter 7? Any help would be awesome- thanks!