I make my payments on time every month to my cards, but wont be able to soon.
I have reached out to my 2 credit cards numerous times telling them I may file for bankruptcy and they wont get anything, and asking for them to lower interest rate so I can make my monthly payments and actually see my balance go down instead of mostly toward interest. I was refused on any time of payment plan, settlement offer, or interest rate reduction.
NEXT: I spoke at length with Take Charge America, who will set me up on a 5 year payment plan (after the banks negotiate with THEM apparently), and I will pay off my full balance in 5 years, along with about k in interest and 00 or so in fees to the company. Cards will be closed.

OR: I use Credit Solutions and I default on my cards so they can negotiate with the banks on my behalf and present me with settlement amounts which could be half if not more of the balance! I pay them 0. for 18 months and my debts to cards is paid within 36 months, if not sooner, at almost k less than what I owed.

BUT: Credit solutions has many scary reviews online. I spoke at length with 2 of their reps and they explained the process to me and it sounds like garden variety debt settlement, so.. i dunno. Which company? Anyone have any experience with either?

I also just called the collection dept. of my cards again and told them all this, can THEY offer me a settlement or payment plan so that there are no 3rd parties and the bank gets their money. They said nope, sorry. So i am kind of backed into a corner of having to use one or the other

My husband is an army veteran who is wanting to go back to active duty. We have a son together and he has 2 children from a previous marriage. A recruiter told us that with that many dependents he would need a credit check. So we are currently making payments on a Chapter 13 bankruptcy. Will this prevent him from re enlisting? Another recruiter told us that we should let the bankruptcy dismiss and then he would be fine. Which doesnt make much sense because that means we wouldnt be paying on the debts and they would just be unpaid on our credit. Not too sure what to do. Any input would be greatly appreciated.

I have a few questions about credit reports and how to handle certain blemishes.

The first situation is that I have two collection accounts with a combined total of 2. One is from 07 and the other from 08. Should I go ahead and pay these off? Should I send a debt validation letter? Or should I just ignore them? My husband and I would like to purchase a home next summer and I want my credit score up as much as possible, but I have heard that paying off the debts can actually hurt your credit because the "date reported" date changes to a a current date. Is this true?

The second situation is what I believe to be a duplicate account listed on both mine and my husband’s credit report. It is from an account that was included in our Chapter 13 bankruptcy. There is a listing from the original creditor and then a seperate listing for what I assume is a collection agency called MBC INV for the same amount that was first reported 9/30/09 – two month before our bankruptcy was discharged. Is this legal? To send an account that is included in a bankruptcy to a collection agency? Can I get rid of this account?

Thanks in advance!

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.

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 heard about more bank to failures or bankruptcy today. All of people(include me) think about we have many problems about sub prime crisis, gas price crisis, inflation and finally interest rate up around the world.

For bank have many problems too, and more than ours.

I think this is chance to reduce debt or debt cures. Because when some bank failures, some investment institutes or Asset Management company will buy asset(include debts) from bank

What price they buy?

I don’t know but basicly
- they cannot buy more than collateral value..(Coll 100 debt ost. 120 they buy only 70 or lower)
- they have cost of fund to buy asset therefore they have to quickly collect cash back..

Follow exp. This is chance to pay only 80 for out of debt or not.

What do you think???

**sorry with my language and short space to write.(more information I wrote in my blog( http://debt-restructuring.blogspot.com/ )

I was in a car accident two years ago and was not able to work. This meant I was not able to pay my bills.

In the past 8 months I have gotten a job and payed all of my bills off. Obviously I have bad credit now.

What I wanted to know is, because of the circumstances, if there is any way to erase my bad credit from my history? Is there any way I can prove to someone that I was in an accident and that I paid back my past debts?

Life is hard enough after my injuries and having bad credit following me around does not help either. I can not get a car or an apartment now a days without credit.

I really am a responsible person that needs some help.

I am considering chapter 7 to wipe out my debts. I am unemployed and do not want to pay for a lawyer to file.

I was denied the state loan that Fasfa was offering because I have less than a 2 year credit history and because my parents (my cosigners) had a bankruptcy 7 or 8 years ago.

I did receive a federal loan, but it’s only going to cover 1/5 of what I need for this year.

I tried applying online for a couple of private loans, and they were both denied even with my parents as cosigners.

Does anyone know of a loan provider that will help people who don’t have very good credit?

Thank you!
The school I’m going to is only ,000 a year, but my parents have debts they need to pay for, and I’m only working part time.

Is there really no other options out there?

I am interested in filing for bankruptcy. Last summer I bought a car and a week later my husband lost his job. I got a medical loan to help with a medical procedure last fall and got a new credit card to help pay the difference since we’d had about 2 months without his income. After this I found out he had relapsed and has been using our money to buy drugs (he had been clean several years before we got together). For a while his paychech was on direct deposit into our joint account, which is now severely overdrawn because of his bad checks. Now he has his own account and I can’t access it and therefore can’t pay the bills. I recently lost my job and despite the fact that I am a great employee, well educated, polite, and professional I can’t find work. My life has come crashing down and I am seriously considering bankruptcy. I haven’t made the best decisions but I’ve tried my hardest and I don’t know what else to do. My questions are:

1. If I file for bankruptcy do I have to sell my things, will they be taken in order to pay for our debts? I do have some items of monetary value but they all have tremendous sentimental value to me and you can pry them out of my cold dead hands before you can take them from me and sell them.

2. Can I keep making payments on my car and keep it? I live in the country, I need my own transportation no matter what or I’m stranded.

3. What about this recent debt, I know November was not that long ago for eveyone else but for me it feels like a lifetime has passed, is this too recent to be wiped clean?

And for those of you wondering why I’m not divorced yet, I want to clear the slate first so I can make a clean start for myself, I can’t afford to carry all of this with me.

Thanks for any help you can provide!
Okay, some things to clatrify:

1. How will "they" know what stuff I have? Anything of value was passed down to me from family, hence sentimental value. There is no paper trail of receipts or any documentation of any of this belonging to me.

2. I can’t move, I have time left on my lease and animals, I need the house and the property I’m renting and because I live in the country the rent is cheaper. I have a friend looking for an apartment in the city and he’s going to pay the same amount for something much smaller. Don’t even suggect getting rid of the animals, I’d rather die than give away my family. I need help but I’m not willing to write my self a one way ticket straight to Hell (figuratively and literally).

3. I’m making paymemts on my car, I can’t sell it. I don’t have the title, I’m making payments.

I make my payments on time every month to my cards, but wont be able to soon.
I have reached out to my 2 credit cards numerous times telling them I may file for bankruptcy and they wont get anything, and asking for them to lower interest rate so I can make my monthly payments and actually see my balance go down instead of mostly toward interest. I was refused on any time of payment plan, settlement offer, or interest rate reduction.
NEXT: I spoke at length with Take Charge America, who will set me up on a 5 year payment plan (after the banks negotiate with THEM apparently), and I will pay off my full balance in 5 years, along with about k in interest and 00 or so in fees to the company. Cards will be closed.

OR: I use Credit Solutions and I default on my cards so they can negotiate with the banks on my behalf and present me with settlement amounts which could be half if not more of the balance! I pay them 0. for 18 months and my debts to cards is paid within 36 months, if not sooner, at almost k less than what I owed.

BUT: Credit solutions has many scary reviews online. I spoke at length with 2 of their reps and they explained the process to me and it sounds like garden variety debt settlement, so.. i dunno. Which company? Anyone have any experience with either?

I also just called the collection dept. of my cards again and told them all this, can THEY offer me a settlement or payment plan so that there are no 3rd parties and the bank gets their money. They said nope, sorry. So i am kind of backed into a corner of having to use one or the other

My parents have been together 17 for years. I am the oldest, i’m 17 and then i have a brother who is going to be 16 and a brother who is going to be 12.

My dad trusts my mom, i guess they share an account. My dad works at his car dealer but as we all know the car business isnt very good right now… my mom works in collections… well anyways a few weeks ago my dad told my mom to put 10 thousand dollars in the bank that he had saved up just for whatever and so my mom puts it in there bank…. about a week later the money is gone… 10 thousand just GONE. My mom claims that she had debts to pay to other businesses like credit unions or whatever… she keeps lying…

Last August my mom was caught cheating on my dad with her old high school sweetheart… my dad took her back because he didnt want his kids to grow up without a mom and stuff. So anywyas, since shes chaeted on him things have been bad. Money has been missing and everything. The 10 thousand was going to be used for the rent and now it is all gone. My dad is gonna have to file bankruptcy for a 2nd time. The last time he filed was a year after they had me. it was about 16 years ago.

My dad says ok fine you had debts to pay… where are the receipts? and she just says, i paid online we dont get them… i honestly think my mom has a gameling problem… I am so stressed and am having trouble focusing on school. I honestly want to drop out and get a full time job just so my brothers dont have to worry about anything and so that my dad doesnt have to worry about feeding us. I feel like i dont have a mom anymore and I just want to die…

I am so depressed and stressed out and feel like I have no one to talk to about this… My boyfriend lives really far away and has kids and stuff and hes busy a lot and i completely understand that he cant always be there for me to call on him when i need him… But i just feel so stressed. Plus its really hard to find a job… ive been looking for about 4 months now. I dont know what to do though.

How could my mom do this to us?

sigh***

whatever…

-vanitybreanne

I am now 27 years old, I have owed probably about 6 companies a total of mabe 6-8 thousnad dollars since I have been 18-19. I went online and checked my credit report and I saw that all of my old debts are not on there. the only debt is a lawfirm that is suing me for, 00.00 My dad said "after a certain amount of time they will be written off". What the hell is a write off and what really happened to my 00.00 in debt??
and can i still file bankruptcy because that is what I really want to do>

Thanks everybody and have a safe holidy season!

I met him online, so we’re in a long distance relationship. We talked and saw each other everyday for 3-5 hours per day – in chat, on the phone and skype for almost 1 year. He came to visit me after a year. He flew for 2 1/2 days ‘coz we’re thousands of miles apart. I appreciate that. He stayed with me for 1 month. He proposed to me. We got engaged. He went back to his country and promised to get me after 6 months so we can get married and start a family. Later on, i found out that he’s broke! He can’t afford to take me, or even come back here or even marry me. Now, we’re still in a relationship after almost 2 years and i’m still waiting. He lost his job 6 months ago and can’t pay his debts. It was all a shock to me because he lied to me. He lied to me face to face and made me expect. He promised me so many things and told me that he can take me soon and take care of me. I also did not accept my job offer abroad because he wanted me to wait for him. He said he will marry me and it’s ok if i don’t go abroad anymore to work because it will take years before i return. Since we’re engaged, i’ve decided to stay and wait for him. I’ve sacrificed a lot for him too. I wish he just told me the truth so i kept my job abroad and did not lose the opportunity.

Now, he still has no job. I dunno when i’ll see him in person again. My heart is broken because he lied to me face to face and made me expect things that he can’t actually fulfill. It’s so painful because he told me that he got US,000 worth of debts due to her sister being in jail in the past! I had no idea too! I see them everyday in chat! I see his family, his mom, sister, older brother and they look happy and ok. I had no idea that his sister was in jail due to money problems in the office. ( i really dunno). He told me that he lied to me because he is ashamed and he doesn’t wanna lose me. I was so upset when i found out. He didn’t wanna tell me at first but i really didn’t stop until i get all the answers. Truth will always come out…but i dunno if it’s really the truth that he lost so much money because he was helping his family. I dunno if it’s the complete truth. He told me that it is but i have some doubts…..after all the lies.

He asked for forgiveness and promised me that it won’t happen again. He asked for another chance and i forgave him and gave him another chance. Unfortunately, he lost his job last year.He is in debt, jobless, declared bankruptcy, black listed in 2 banks in his country, lives with his family coz he cannot afford his own place, survives with his pension. I am hurt because i lost my job offers abroad too because of all the lies. If only he told me the truth!!! Maybe i have a good job now and i’m able to help him too! Now, i’m depending on him and i earn so little. I hold on to his promises. I dunno if they will come true.

After everything that has happened, i still love him. I love him with all my heart and i miss him so much that i find myself crying in very odd moments. Love songs and love stories makes me cry now. I should smile and be happy but it’s the complete opposite for me now. He was so positive in the past, that made me fall in love with him. Whenever i had problems, he would tell me, everything is ok! He was always positive. He always assured me that everything’s ok and i have nothing to worry about….but it was all a lie. After he left…. when we were already planning my trip to his country, that’s when i found out about his debts and lies. He told me that he will pay for my ticket and all and we will get married there. LAter on, he just made excuses and i confronted him. He didn’t wanna tell me but i had to get the truth out of him. It was a long, gruelling process! Until i found out everything and it was the start of hell. From then on, our lives just started to fall apart. I lost my trust in him. He lost his job. I lost mine too. I dunno where to go. I let all offers go. I dunno when i’ll see him again. I dunno if i’ll ever see him again.

Now, i’m in the process of finding good jobs abroad again. I need to do something with my life. It’s so hard because i love someone that i can’t trust. I love him so much and i wanna be with him but i dunno if i can hold on to his promises and believe them all. Nothing is sure now. I dunno if he will fulfill them. He already broke my trust (BIG TIME) and i dunno if he’s capable of doing it again. All i know is that we’re in a very unstable relationship right now. Nothing is sure! It’s so hard because i dunno where he will take me. I dunno where this relationship will go. I wanted it to go somewhere but how? If he has no money to be with me, what can i do?

I don’t wanna wait forever until he is ready. I know it will take time…maybe 2 more years. We’re already in our 30’s. I can’t wait that long anymore.
Friends, please give me some advice. If you’re in a similar situation or familiar with what i’m going through, please share some wisdom. I’d really appreciate it. Thank you! God bless you all!

Owen drops out of school before he completes his college education and starts his own business. Five years later, Owen files for bankruptcy under Chapter 13. Owen will obtain a discharge of all debts provided for by the Chapter 13 plan if the value of the property distributed under the plan is greater than what would have been available in a liquidation and

a. if he fails to make all payments due to events beyond his control.
b.if he stays in business for at least five years.
c. if he takes out a student loan and returns to school.
d. under no circumstances.

I’m going thru a divorce & learning of thousands of dollars in collection & more that are delinquent & on there way to a collection. Yesterday I learned of a credit card company that will settle for a % of the debt. I contacted this company & informed them that I have never applied for a credit card in my life. They had all of the personal info on me needed to apply for a credit card. I have a feeling that my soon to be ex applied for & received a card in my name. They informed me to go to the police dept. & fill out a fraud/identity theft form. Is this the correct action to take? I had trusted that my ex was taking care of our finances but apparently she wasn’t. I will probably have to file bankruptcy. Should I do this after our divorce is final and the debts are divided or file together with my ex, before the divorce is final? I obviously want to know ALL of my debt that is out there. How do I go about finding this out? SOMEONE PLEASE HELP ME!!!!!!!!!!!!!!!!!!

What happens if you file a chapter 7 bankruptcy and you don’t own any real property? No house, no valuable property, everything owned is the standard practical household stuff and the vehicle is financed. Is it possible to keep the vehicle? Can we still file without any property to liquidate? We’re keeping our heads above water but can’t begin to touch our debts no matter how hard we try.

I am currently a full time student and we are looking at filing a chapter 13 for other debts outside of my student loans. I am wondering what effect if any this will have on my ability to gain new students loans, just the stafford subsidized and unsubsidized? Also, I paid my lawyer 800 to retain him for this bankruptcy , can I back out and get a refund? I am in washington state if that makes a difference.

I get letters from creditors offering to settle my debts for a lower amount. I owe about ,000. Some debts have been charged off and I don’t know who to contact now. Doesn’t it still hurt your credit to pay off the debts anyways? Isn’t Chapter 7 just easier? Please help from anyone who has gone through Chapter 7. Thanks!