Credit Problems?

Question

I have more than horrible credit, including a bankruptcy chapter 7, collection accounts, charge offs etc. I have it all pretty much. The government is even garnishing my wages for student loans. Why do I get flyers from banks and financial institutions telling me that they can help me regardless of my credit history, and when I can the first question is: "How good is your credit?" I'm trying to pay off my debts but I want to get a loan and just have one payment. Consolidation companies can't help, bank don't want to lend, I can't get government help cuz they are already garnishing my wages, and credit card would only give me about $500 credit line. I owe way more than that. I owe a total of $30K. Any suggestions as to what my options are.

Answer 1

yeah people that need loans generally dont qualify, its unfair but its reality, if i was in your situation, which i am glad that im not, i would enroll in a credit counseling service, where they manage your debts, settle for less, stop interest charges etc. the service is non-profit and is generally cheap most charging 50 bucks to enroll, they will have you pay them one bill a month and they would distribute them to all the debtors its generally a 3 or 5 year plan

Answer 2

Garnished wages??? Change your job and don't tell anyone. In fact, why don't you leave the country for a few years and start a new life? There are legal statute of limitations on debts and they run out way before a bankruptcy filing disappears from your credit report. I.e. in Florida the statute of limitations on debts is 4 years from the date of last activity. Sometimes a collection agency will try to get you to make a "Small" payment like $10 which will only reactivate the account leaving you with another 4 years. Go to Europe or Australia and after a few years - IF you decide to come back you'll find that all that negative stuff will have vanished from your credit report.