I only make enough to live on, no extra. I've heard if I go bankrupt now I will have to make a monthly payment of $250.00 for 5 years. I am also behind in my car payments I want that to go also. Someone please give me some advice on what to do. Thank you
2006-08-16 03:22:59 · 6 answers · asked by sunshine 1 in Business & Finance ➔ Personal Finance
I would like to do a chapter 7. I
2006-08-16 04:08:06 · update #1
PLEASE GIVE ADVICE ON CREDIT COUNSLING
2006-08-22 03:50:57 · update #2
It depends on a lot of items which type of bankruptcy you can claim. Just remember that your credit history will be trashed for a long time. I filed for Bankruptcy almost four years ago and still have trouble getting credit when I need it. I would recommend that you see a bankruptcy lawyer and explain your situation to him and he can tell you everything that you need to know.
2006-08-20 04:31:40 · answer #1 · answered by andy 7 · 0⤊ 0⤋
There are some credit managing companies which will negotiate with your lenders on your behalf
They will make them forgive 50% of the loan, stop the interest charges and consolidate all payments into one, monthly. They will also add their own charges into that monthly payment, but still, you will be far better off. Also you will not have a bad credit report because everything is by agreement. Worth exploring this.
Only go for bankruptcy if you are sure you can do without any credit for 8-10 years.
2006-08-20 04:36:43 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Bankrupsty is reallly bad and you will have bad credit for the next 7-10 years which will put you in a bad financial status. How about calling a creidt counseling service? Credit counseling is not as servere as bankruptsy but it may help you consolidate your bills.
In the near future so you won't keep making the same financial mistake why not change careers or go to school to get a career so you can make more money? Or how about getting into sales or real estate? That is a great field that you can make an unlimited about of money in. The main thing you need is more money so I would focus on making more money and spending less so that means you would have to leave within your means.
2006-08-16 03:32:41 · answer #3 · answered by chocolatebabycakes 4 · 1⤊ 0⤋
It depends on the kind of bankruptcy you go for. You don't need to make payments for all kinds. You can have your debts wiped clean, although it will affect your credit for 10 years. The best advice I can give you is gather up information on everything you owe and go see an attorney that specializes in bankruptcy. And the first thing he will tell you if he takes your case is to stop paying all the bills right now.
2006-08-16 03:30:01 · answer #4 · answered by shirley_corsini 5 · 1⤊ 0⤋
Sorry this is harsh.
Get second job , learn more to earn more . Stop building bills / debt. No One is required to be poor , it is a personal choice. Be come wealthy for your child, use her as a reason not an excuses. Poor people choose excuses over reasons. Read and act on Think and Grow Rich-Blacks Choice, Rich Dad/Poor Dad. Choose to make more money not excuses. Pay your bills then never get behind. visit www.daveramsey.com
2006-08-22 03:58:04 · answer #5 · answered by Anonymous · 0⤊ 0⤋
you have to make under 30,000 a year you may qualify contact a bankrupt attorney.. many give free advise.. you may just want to turn your car over to the bank....
2006-08-21 15:55:24 · answer #6 · answered by debbe_us 1 · 0⤊ 0⤋