I got into a car accident, it was a total loss, and the place where I got it from didn’t offer gap insurance. My insurance company paid about 00, and I owe about 00 on it. I haven’t been able to pay since March 2011. I am possibly eligible for Chapter 7 with all of the other debt that I have. I am unfortunately seeking bankruptcy. Can I claim this loan in bankruptcy? What will happen to it if not? I’m making my first payment very soon either way. I bought a car with cash, but it is old, 14 years old.

Ok, my husband and I are in about ,000 in debt, He lost his job so he gets unemployment which the amount doesn’t even cover all the bills, I don’t have an education (I do take classes to get my G.E.D.,they take up my entire day; literally. I will be finished with it on May. 31,2012),so I am currently unable to work. We don’t go out to eat at all(strict diets and we hate people to serve us).We don’t have any extra expenses because our families pay for mine and my husbands cell phone,house phone, cable, and my husbands car insurance bills. His check is gone as soon as we get it so we had to get food stamps and medicaid just to help keep food in the house for our son and ourselves. I can’t get a loan for school to go to college when I finish, I have been told that if I file for bankruptcy then I won’t be able to get a grant,by a friend. I hate being in debt, having to rely on family to pay our bills , and not ever having any money,even though I am grateful to have a family who is willing to help us out when we need it. I
have done a lot of research on this matter and even went to 2 different financial planners who have both said to file for bankruptcy is our best option. We own an ugly old trailer(only worth 00 and 1 automobile worth 00, with a initial property value of 00 so every thing we have is safe from the property liquidation process). Oh yeah did I mention we are expecting another child? So I have advised a plan:

Plan:( we usually receive 00-00 in income taxes FED and 7 State, Husbands pay check 00 monthly even)
1) File for bankruptcy after I get my income taxes.(Filing for bankruptcy can cost in between 0-00per person if filing separate or 0-00 if filed together and we have someone who owes us money who is going to pay for out credit counseling courses and test, still no where close to what he owe us).We are filing it together.We would be filing for Chapter 7 Bankruptcy.
2)My husband and I would then open up a secure loan at the amount of 00 each that has a 6.9% interest rate and fees.
3)Now that all of the numbers have been ran, it is going to cost 04.11 per person to pay off the secured loan ( I figure we just open up a savings account, each, with the loan and put in 4.11 per person to cover the cost) and make automatic payments from said savings account for 1 full year. As I am sure every one knows the longer the on time payment history is the better credit rating you will receive. ( I figure we will need to do this for 5 years)
4)Take my husbands pay check and open 2 secured credit cards per person for 0 each with an interest rate at 1.5% .(only so low because it is secured, We both have terrible credit)
5)Turn around and pay our monthly bills with the card( bills and monthly hygiene products equal up to 2 monthly without paying off debt,we won’t have any more.)
6)Turn around again and pay off the cards with his pay check (our parents each said that they will give us 0 to pay for our 1st months bills free and clear as long as I finish school , so 00 cash total.)
7)Do this for 5 years while putting the released funds from the secured loan in a separate saving account at the end of each year for a house down payment(,000 plus interest)
8)Now 1 year after we set this up we will have 2 children, 1 will be 6 the other will be almost a 1.I will be finished with my G.E.D. education, Already started college( I found out the you can still get grants if you file for bankruptcy, they even have grants for people and student who have filed for bankruptcy,so my friend was wrong.)So now I can start saving for my children college,I chose the Gerber Life College Plan, I can pay 06.12 annually from my income taxes so that they will have a fair amount to get them started(I am only getting ,000 per child).
9)Still 1 year after plan started, use the some of the money form my taxes to open up a life insurance policy for the family, I chose 1 for 0,000 and is 2.09 a year(,000 per person).
10)Still 1 year after plan started, put the rest of our income taxes (about 07.68) every year for 4 year in our saving account for the house down payment(a total of 030.72 plus interest)

Ok so about 6 years into the plan we will have about ,000 in savings for a home, a credit score of at least 700 FISO (each), a good size life insurance policy for the family, a college graduate, A working college fund for our children, and an eye out for a modest home.

So my question is, Will my plan work if we stick to it? Oh yeah take in affect my hubby isn’t going to be unemployed forever and neither will I.

Due to having cancer twice I cannot get life insurance. I am the father of three children under the age of five. With my student loan in excess of 0,000, any money that I would be able to save for my children instead goes to paying off my monthly student loans. I have taken all the forbearances I can and cannot consolidate to any lower monthly payments. I filed for bankruptcy in 1999 after my second bout with cancer as I was unable to work during my treatments and was told student loans could no be filed under bankruptcy.

If there are any grants, organizations or philanthropists that could help a two time cancer survivor pay off his student loan, I would then be able to start saving for my children’s future since I am unable to get a life insurance policy due to my cancer history. I would be eternally thankful for any resources that I can work with to help me with this hardship. Thank you.

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

My mother-in-law’s situation:

1) 72 years old. Single. 40 year old deadbeat son living in her spare bedroom.
2) Owns home with 0K loan balance on a realistic value of K. No other debt.
3) Her total income(social security + small pension) is about equal to her fixed costs (mortgage, tax, insurance, utilities)
4) She has been draining her small savings to pay for food, emergency repairs, uncovered medical expenses. That balance is approaching zero.
5) No assets other than household goods and an old car.

Desired outcome:
1) Get out of house and rent small apt with no room for son, lower rent, vs mortgage payment, close to daughter.
2) Get rid of car.
3) No need for decent credit other than to get apartment lease started. She’s never going to buy anything that would require credit.

Bottom line is she needs to lower her monthly fixed costs, get rid of parasitic son and move closer to my wife and I for logistical and financial help.

So my question is does she really need to declare Chapter 7 or can she just do a foreclosure and walk away? I believe a simple foreclosure is the best thing for her; simpler and less stress. Any other thoughts and things she needs to consider?

I’m looking at this as a simple process: 1) Rent apartment and start utilities. 2) Move. 3) Stop paying mortgage. 4) Deal with bank on foreclosure but I don’t really know what she has to lose by just ignoring them.

Thanks.

My other house went to foreclosure and now the mortgage insurance company is suing me for 0,000. I don’t want to file for bankruptcy, but do I have to?

I have a homestead on my home. I’m retired and living on a pension and barely make ends meet (I know I will have to find a part-time job soon after the little bit of cash I have runs out). I don’t have anymore money in the bank except for my pension, no stocks, I took money from my life insurance policy which I already spent, no other properties, no jewelry, and I drive a 17-year old car. I do have money in my 401k and IRA, which people tell me they cannot touch. I know I can’t go to jail. What can they take from me or do to me, legally? Any advice is very much appreciated. Thanks.

I have a lot of debt and don’t make enough to pay medical bills off and such. Is chapter 7 the way to go?
Just so you know Jackdneverf, not everyone in this world has such a good life as you! When you have a job that has no insurance every time you go to the doctor it’s automatically 0. Don’t judge someone until you have walked in their shoes!

My husband and I were married in Sept 09. He got insurance the next month Oct. 09 through my work. In December of 09 His legs went paralyzed. He went to ER and then to the University Hospital. Two days later he was diagnosed with Spinal AVM a very rare condition. He had a surgery to embolize and when that did not help he got had a second invasive surgery to cut off the blood supply to the AVM. It was successful. He was able to walk again and pressure was relieved off of his spinal cord.
He was scheduled to have another surgery to rebuild the disc in his back in December 09. We had an authorization to have the surgery. That one never happened.
For this first surgery we received letters stating a pre existing condition investigation was going on and claims were pending. We never got any response when we call the Lovelace Sandia company. Just figured we would wait to see what they said. We were sure they would pay.
As time went by they found another AVM six months later and he had another surgery. They paid all of these claims and had a authorization for this second one..
We just got a bill, after no other communication from the insurance co, for 0,000 from the hospital. Obviously we cannot pay that bill. Will never be able to pay that. We are newly weds with one income. That is more than my home is worth.
I looked up the claims. There are too many to count. At one time a payment was made for ,000 and then deducted. We turned in all the papers they asked for and so did the doctors. We had no idea my husband had Spinal AVM until the day before his emergency surgery. What is my course of action to take. Also we are married now. Will this effect my credit? Everything is under my name, house cars etc. My husband has no assets and ok credit. I have great credit. Will we have to file bankruptcy? Or can he just file?
The only thing the letters say is that if we do not agree with the outcome of their decision then we can appeal it in a written letter. How would I go about that? There are so many different claims under so many different doctors but at the same hospital. Do I need to get a lawyer?
More background info.
My husband just finished school. the surgery actually kept him from graduating on time. I am the only one with income as of now. All the bills, assets are under my name. I own a rental house on my own and our home with my father. I have been getting bill collector calls asking for my husband (phone recorded messages that I know are from this.
I plan to write the appeal but don’t know how or what to say…We are very stressed about this. My husband still suffers nerve damage and is learning how to live a normal life. Not all of his functions are back to normal yet either. Please help with advice. We are on the verge of losing our minds after everything we have gone through together. i can’t take anything else… Wishing to have a happy healthy life with my new husband.
If they were going to deny based on pre-existing condition then why would they pay for the second surgery completely??
We don’t know what type it was (1-4)?. He did not have insurance before. He was a full time student. He had x-rays about 11 months before the episode. No treatment. Did not know such a thing existed. My question is what course of action to take not tell me you think It was pre-existing condition.

Ok, this is unconventional – My mom is disabled. Her home was affected by Katrina. Her home is finally fixed. However, during the past two years, she’s accrued close to 0,000 in credit card bills to pay off some of the repairs since a lot the funds from the insurance and the government were not enough. Additionally, since she is disabled and receives little from the government, she has been unable to pay enough or on time. Her interest has gone up to 25-30% on 4 cards. I have good credit. I own a condo. I want to at least help her by getting a home equity loan (basically a second mortgage) even though I want to get a loan in a couple of years to buy a house. She’s considered bankruptcy with Chapter 13 in order to not jeopardize her home, which she paid off with some of the funds received from Katrina. It seems she has no way out; and I hate to be in this situation from my own financial balance. What can be done? She needs serious help; and I don’t want to jeopardize my credit.

In every case challenging the constitutionality of healthcare reform the plaintiffs have been people who did not carry healthcare insurance and who claimed they would prefer to handle their own healthcare needs as they arise.

* The average hospital stay in the US costs over k for people with insurance.
* The average cost of premiums in the US is over k per year
* 62% of personal bankruptcies can be attributed to medical costs
* The number of employers offering healthcare insurance to their employees fell by 7% during the Bush years

These plaintiffs claim they cannot afford the penalty for failing to carry health insurance, but seem oblivious to the fact it would be even more impossible for them to afford an average hospital stay. The HCR bill at least subsidizes the cost of the penalty for low-income families – in some cases even eliminating all cost. But the bill for a hospital stay will remain on your credit report until the day you pay it off or die.
@ Mjo – The Republican plan gave people the decision & control to carry no insurance and pass the cost on to taxpayers. Which explains why premiums are so high and why so many personal bankruptcies result from medical bills. The HCR bill doesn’t tell you which company to pick – you’re still free to choose. It just requires that you pick something so you don’t pass on the cost of your medical care to others.

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 in chapter 13 bankruptcy and my car was totaled and my finance company told me for a month that when my insurance check got here they would give it to me to get another car the day it go here they backed out on their word and costing me almost 500 in rental awaiting on the check when I could had used it to do a down payment they left me without a way of going with 3 kids and 1 son that lives with us without away to school how can they do that to us we didn’t ask for our car to be totaled someone please help and tell me what I can do to get a car

My sister and I were appointed administrators to my brothers estate back in Aug 2010, He did not have a will, he only had a small life insurance policy. My sister and I went and opened a estate account with a tax ID number at the bank. My questions are: Can my personal debt collectors come after what is in my brothers estate account and also if I file bankruptcy can they take the estate account. Thank you for any help.

Her and her husband are currently under chapter 13 they have cashed there refund check…they needed it to fix there car…Will they both go to jail for cashing it? They have a 6 year old and a 1 year old. What or if anything will happen to them… She went to her trustees web site and on there main page it saids (All tax refunds during your entire case must be turned over to the Trustee uncashed. Failure to turn in your refund will result in your case being dismissed and will also prohibit any filing of future cases.) she also has a lawyer but she doesnt like her… and doesnt want to deal with her any more can she go with another lawyer? They Live in Louisiana
When they filed in Sept. 2007 there first tax refund check was sent directly to there trustee.. about 2 months ago they recieved a letter saying (We have you Certification of Compliance and Request for Discharge in our office to be signed as soon as possible.) So they assumed that there case was being Discharged) I just hope that they dont go to Jail b/c they have 2 kids
Hi to Jen
They received this letter on April 17 but they called her a week or so before they sent the letter. They received the tax refund almost the end of May. They went and signed the letter on June 1 so they thought that the check was theres. B/C they keep all they others. Like when Gustav came there car was crushed by a tree. they got money back from there insurance they lawyer took that check too. They wasnt going to give it to them b/c they needed a new car. So they will go and get a new lawyer when they get back from there Disney Trip… Thanks for every one advice!!!

Ok 2 million people a year going bankrupt from being wiped out by medical bills.

3/4 of those people that go bankrupt were insured before the illness took place. My point is, the insurance now does very very little to protect against a serious illness like cancer.

I dont get it, why are people so stupid? You might be happy with the insurance you have now, but wait till the illness gets expensive… they either cheat you out of the coverage or jack the rates so high that you cant pay.

Do you really think insurance companies are going to cancel your insurance if you go to the doctor for a common cold with a 0 bill? They wait till it gets expensive and then screw you over, even though its likely they could cheat you out of the 0 bill, they wont do it to everyone because they dont want YOU to know about how they really are.

My god just watch Sicko or look up the stats yourself online…

Why cant we just have more sympathy? Obama isnt the answer, he is a lying chicago politician who got put into power by the FED/banks/AIG. When Obama tells millions of people that we can get the "public option", it is just smoke and mirrors. His public option isnt going to get passed, he is just pretending to try knowing full well that it cant be funded or implemented.

Sadly, he isnt going up against the insurance companies. In 1 FOUL SWOOP of Obamas pen, he couldve made it so that importations of medicine from Canada and other countries would become legal again (some medications can cost 800x more then their ingredient value in the USA), but has he done this yet?…. Why hasnt he done this?….

The american bankruptcies will continue and rise as expected. Until we get something like that of Canada or France’s system, we are going to be caughing up all our money to hospitals.

Nothing has changed, Obama isnt going to help, its up to everyone here to get it done!

Ok 2 million people a year going bankrupt from being wiped out by medical bills.

3/4 of those people that go bankrupt were insured before the illness took place. My point is, the insurance now does very very little to protect against a serious illness like cancer.

I dont get it, why are people so stupid? You might be happy with the insurance you have now, but wait till the illness gets expensive… they either cheat you out of the coverage or jack the rates so high that you cant pay.

Do you really think insurance companies are going to cancel your insurance if you go to the doctor for a common cold with a 0 bill? They wait till it gets expensive and then screw you over, even though its likely they could cheat you out of the 0 bill, they wont do it to everyone because they dont want YOU to know about how they really are.

My god just watch Sicko or look up the stats yourself online…

Why cant we just have more sympathy? Obama isnt the answer, he is a lying chicago politician who got put into power by the FED/banks/AIG. When Obama tells millions of people that we can get the "public option", it is just smoke and mirrors. His public option isnt going to get passed, he is just pretending to try knowing full well that it cant be funded or implemented.

Sadly, he isnt going up against the insurance companies. In 1 FOUL SWOOP of Obamas pen, he couldve made it so that importations of medicine from Canada and other countries would become legal again (some medications can cost 800x more then their ingredient value in the USA), but has he done this yet?…. Why hasnt he done this?….

The american bankruptcies will continue and rise as expected. Until we get something like that of Canada or France’s system, we are going to be caughing up all our money to hospitals.

Nothing has changed, Obama isnt going to help, its up to everyone here to get it done!

for then i had to i had to file bankruptcy chapter 13. at the time i was unable to pay for the heath insurance. and has equity in my home and now if i dont pay the fee in the chapter 13 they can dismiss and foreclosure. and after the bypass i also went into depression and now i OK but its to late and i have let myself have bad bad credit what can due. i need some ideas so i dont go live on the streets help

for then i had to i had to file bankruptcy chapter 13. at the time i was unable to pay for the heath insurance. and has equity in my home and now if i dont pay the fee in the chapter 13 they can dismiss and foreclosure. and after the bypass i also went into depression and now i OK but its to late and i have let myself have bad bad credit what can due. i need some ideas so i dont go live on the streets help

Ok 2 million people a year going bankrupt from being wiped out by medical bills.

3/4 of those people that go bankrupt were insured before the illness took place. My point is, the insurance now does very very little to protect against a serious illness like cancer.

I dont get it, why are people so stupid? You might be happy with the insurance you have now, but wait till the illness gets expensive… they either cheat you out of the coverage or jack the rates so high that you cant pay.

Do you really think insurance companies are going to cancel your insurance if you go to the doctor for a common cold with a 0 bill? They wait till it gets expensive and then screw you over, even though its likely they could cheat you out of the 0 bill, they wont do it to everyone because they dont want YOU to know about how they really are.

My god just watch Sicko or look up the stats yourself online…

Why cant we just have more sympathy? Obama isnt the answer, he is a lying chicago politician who got put into power by the FED/banks/AIG. When Obama tells millions of people that we can get the "public option", it is just smoke and mirrors. His public option isnt going to get passed, he is just pretending to try knowing full well that it cant be funded or implemented.

Sadly, he isnt going up against the insurance companies. In 1 FOUL SWOOP of Obamas pen, he couldve made it so that importations of medicine from Canada and other countries would become legal again (some medications can cost 800x more then their ingredient value in the USA), but has he done this yet?…. Why hasnt he done this?….

The american bankruptcies will continue and rise as expected. Until we get something like that of Canada or France’s system, we are going to be caughing up all our money to hospitals.

Nothing has changed, Obama isnt going to help, its up to everyone here to get it done!

No felonies, misdemeanors, bankruptcies, DUI’s, nothing – and I have a current/valid license (except I think I let my insurance lapse, I only drive work vehicles & they’re insured).

If it were between me & other candidates, they would not pick me – because my credit is bad (student loans) – not even sure if they’ll check credit – but would they renig the offer if they discovered this?

Also I accidentally skipped jury duty last year, but I don’t think I got in trouble for it b/c I paid for a background check on myself online & there were no warrants on me…..and a cop let me go for speeding a few weeks ago (after checking my license) – is this a good sign the law is not looking for me due to unpaid parking tickets?

How deep will they dig, and what is the worst case scenario?
I was mistaken – car insurance isn’t lapsed.

And hopefully if I was in trouble for jury duty or parking tickets it would’ve shown up on the online background check I did this week…?

BUT STUDENT LOANS ARE A BIG DEAL…..IF THEY FIND THESE AS 2 HARD INQUIRIES ON MY CREDIT (IN THE EVENT THEY CHECK THIS) AM I SCREWED!?