I am thinking for filing for bankruptcy, and I wanted to know if anyone has done it before so they can give me a few pointers. I know I should talk to a lawyer but I called one and he was acting like a dic* so if anyone out there has done this let me know what are the steps. I am going to tell you this I am working (but getting paid garbage) I do own a house, and I am married. If not pls forward me to someone or somewhere to go get some help on this matter.
2007-01-04 13:59:15 · 9 answers · asked by Anonymous in Business & Finance ➔ Credit
My father did it 2 years ago and he gets approved for Credit Cards left and right. they say 7-10 yrs but its BS trust me he has better credit than me now. I dont know how but he does.
2007-01-04 14:27:50 · update #1
Bankruptcy laws have changed alot in the last couple of years. Depending on how much you make you may be put into a chpt 13 wage earner plan which means you still get to pay off included debts or a chpt 7 which the court will basically remove all debt. Usually on a chpt 7 credit rebuilding will depend on what you have done in the past 24 months prior to the bankruptcy. On a 13 you will be limited by the amount you are indebted for as to how long you will have to be under bankruptcy status. Things to remember on this is what will you need in the next 2-3 years. You say you are a homeowner so the good news is you dont have to loose your house. On chpt 7 you have a 341 meeting or a meeting of creditors that will give you the option of reaffermation on the loan. You can also do this on Car loans and other debts.....generally I would not recommend reafferming on non-secured debt. My best advice is to seek a good lawyer who has been in business doing BK's for more than just a few years. Alot of lawyers will have you fileing over and over so they can get the fees....not good. You only want to do it once if you have to. best of luck. Will answer other questions if you need.
2007-01-04 15:04:53 · answer #1 · answered by inastateofshock 2 · 2⤊ 0⤋
For a very similar situation a found a great solution at: FINANCE-SOLUTIONS.INFO-
RE Bankruptcy?
I am thinking for filing for bankruptcy, and I wanted to know if anyone has done it before so they can give me a few pointers. I know I should talk to a lawyer but I called one and he was acting like a dic* so if anyone out there has done this let me know what are the steps. I am going to tell you this I am working (but getting paid garbage) I do own a house, and I am married. If not pls forward me to someone or somewhere to go get some help on this matter.
2014-09-30 18:21:14 · answer #2 · answered by Anonymous · 0⤊ 0⤋
With the new laws......you can't even file until you've completed a Trustee approved financial class.....go ahead and call your local Trustee and ask for a list of approved classes.......once you've completed that class.....then you can file IF you decide that's the best route.....whether or not you even qualify for a 7 depends heavily on your income level....you may be forced into a 13....but at least you will be able to make an informed decision.......by the way......you DON'T need a lawyer, file pro se
2007-01-04 22:38:17 · answer #3 · answered by Paula M 5 · 0⤊ 1⤋
yeah its true it takes a years upon filing bankruptcy but it is the only way to let you start a new beginning.
2014-11-28 22:14:16 · answer #4 · answered by Anonymous · 1⤊ 0⤋
Bankruptcy is not easy to handle , then fix your debt and ask the experts .
2014-10-10 04:13:51 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Bankruptcy will screw you up for 10 years find an alternative.Pay much more attention to how you manage your finances
2007-01-04 22:21:48 · answer #6 · answered by Anonymous · 0⤊ 1⤋
Please check with the banckruptcies laws In your area and how the various acts apply to you. Should there be a free legal aid service nearby they may be of assistance
2007-01-04 22:30:17 · answer #7 · answered by trendz 3 · 0⤊ 0⤋
buy a book on Remedial Law. see the contents.
2007-01-04 22:18:40 · answer #8 · answered by wilma m 6 · 0⤊ 1⤋
Don't do it!
2007-01-04 22:07:26 · answer #9 · answered by Tammy27 2 · 0⤊ 1⤋