Here is the situation...I owe 30,000...and I make 25,000 before taxes. I have a lawyer and she says with the new laws I would not be able to but with the old law no problem. I want to know what you all think I should do? And what do they look at? Do they look at your parents income? I am struggling everyday. By the time I am finished I will be 50. Help!!
2006-06-22 10:23:45 · 10 answers · asked by Tiffany S 2 in Business & Finance ➔ Credit
Thank you everyone for your help much appreciated!!!!
2006-06-23 03:22:47 · update #1
Are you over 18? If you are there is no way they can have access to your parents info.
Do you owe 30,000 in credit card bills?
If your lawyer says you can't apply for bankrupcy, then you probably can't. Check with another lawyer just in case.
I think your only choice is signing up with a dept consolidation program. Make sure which ever one you choose has a low interest rate and does not charge fees.
The best ones usually say, "Non-profit dept consolidation".
A good company will help you get all your bills together so you only make one monthly payment with lower interests than if you were paying them all separately.
Check out a few websites before you choose a specific company.
You can check for more info in the link below:
www.moneymanagement.org
2006-06-22 10:32:15 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Well good luck, but I am sorry to say that you can no longer go under the old law, because the last time to file for that was october, and just to let you know I owe over $200,000. so 30,000 is nothing, so you have no choice but to pay up if you want to keep good credit, if you don't care then to hell with it, live your life if you don't mind being harrased on the phone and by mail. Besides they can't do anything to you, you just can't buy a house, get a car..etc..etc.I would recommend getting a better career, like real estate, or something else that you can make money fast, but legal, or just marry a rich guy.
2006-06-22 10:47:06 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If you have an attorney that tells you you cannot, I don't understand the question. If you are not agreeing with the advice your attorney gave you, get another.
BTW, the amount you make vs, what you owe is just part of the equation. If you owe 30K and make 25K, but have 100k in assets, the you can still file bankruptcy, but the court will simply sell your assets to pay the dept. In this case, your attorney is advising you to sell off assets to pay your dept w/o the court doing so.
2006-06-22 10:33:26 · answer #3 · answered by Cosmo 6 · 0⤊ 0⤋
Why would they even look at your parents income? Unless you're a minor that has nothing to do with it. And the fact that you said you have a lawyer and owe that much means you ain't a minor. And if you live with your parents, but you're not a minor, well, that's pretty pathetic, but still wouldn't change anything. But yeah, good luck with all that I guess.
2006-06-22 10:32:00 · answer #4 · answered by Monty Python 3 · 0⤊ 0⤋
under the new laws you have to pay most debts back and most of all credit cards so i dont have a answer but i know it will be on you credit report for ten years
2006-06-22 10:28:33 · answer #5 · answered by iammicasa 3 · 0⤊ 0⤋
Tiffany, I wish I could advise you, but you haven't much choice but to get legal advice. If your attorney is not satisfactory to you, there are others. Even free or reduced rate Legal Aide. I wish you well.
2006-06-22 10:27:58 · answer #6 · answered by Anonymous · 0⤊ 0⤋
What part of "you don't qualify" don't you understand. Why not go to www.daveramsey.com or the local library and read his book. Learn how to get out of debt and stay out.
2006-06-22 11:39:40 · answer #7 · answered by snvffy 7 · 0⤊ 0⤋
From what you've written, it sounds like your lawyer already answered the question for you.
2006-06-22 10:27:21 · answer #8 · answered by CarlaCCC 5 · 0⤊ 0⤋
No.
Top 3 Answerer in Business & Finance. (Vote for me)
2006-06-22 15:28:46 · answer #9 · answered by Anonymous · 0⤊ 0⤋
30,000 and it takes time to get out of debt. never choose to go towards bankruptcies it will mess up your life dramatically and you will probably die because of it.
2006-06-22 10:28:10 · answer #10 · answered by Bleeble Blabble 3 · 0⤊ 0⤋