i do not, nor have i ever, used credit cards. i do not use a bank. my husband has been out of work since november. he can not find anything that would support us and our two small children. we have hospital bills, outstanding power bills, cable bills, we have almost 16,000 worth of his student loans for college that he didn't ge to finish b/c he ran out of money and had to drop out. i got 2 tickets last month for not having insurance or a tag (it was at a mandatory checkpoint). i cant count all of our bills. he had a great job lined up to start on monday and we got a letter in the mail yesterday saying that his job offer has been withdrawn b/c of a bad driving record (2 tickets in the last 4 years). our tax refund, which would have been almost 6000 was taken from us by the dept. of education for his student loan. it would have gotten us back on our feet until he got a job. what do we do? i'm so depressed. we need help. we have food stamps and F.A. $245 per month - any advice would help
2007-02-22 19:58:47 · 5 answers · asked by Mandy 2 in Business & Finance ➔ Personal Finance
we have been relying on my family's help for rent and power payments...but their help and support is running out...i honestly dont know what to do.
2007-02-22 20:00:10 · update #1
bankruptcy is a "fresh start" designed for hopeless situations like yours.
You get to keep your home and in general, your property up to a certain point. IF you owe payments on things, (like a car) they can be taken away unless you desperately need them and can prove so, but necessities (like your only car) may be spared.
Other items may be taken. If you have a big screen TV recently bought, wave it good-bye. Vacation home? sayonara.
your credit gets ruined, but will be OK 7 years later.
And you no longer owe anyone anything, except the government...money owed to the government is usually still owed, but not always, and usually some is "forgiven"
But over the 7 years, they check up on you.
It usually makes getting a house or decent apartment nearly impossible for a year, and very difficult for the next 3 after that.
2007-02-22 20:08:48 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I am sorry to hear about the difficulty that you have been having. Consider bankruptcy carefully because as the other responders said it will affect you for years to come. The government does have a program that allows you to put your student loans on hold for up to six years. This will not affect your credit negatively and may allow you to concentrate on some of your other debt. If you would like more information about this feel free to give me a call.
Tiana Thrower
1-800-964-0642
2007-02-23 11:09:48 · answer #2 · answered by Student Loans 4 · 0⤊ 0⤋
Take it from some one who did...DO NOT file bankruptcy...worse mistake of my life when my ex decided that running his own business was more work than he cared to commit to...it can stay on your credit for up to 14 years....contact a reputable debt consolidation service...they work wonders...and best of all you pay off your debts but at payments you can afford and the bill collectors have to cease calling you....
2007-02-23 04:14:35 · answer #3 · answered by Wendy P 2 · 1⤊ 0⤋
nah not enough debt to file bankruptcy u guys just need to work more and tell your hubby to support u guys he may have to lower his standards and work at auto zone or something
2007-02-23 04:35:18 · answer #4 · answered by Anonymous · 1⤊ 0⤋
i just filed for bankruptcy. go see a good attorney, he will ask you about your situation, and go from there.
2007-02-23 05:10:28 · answer #5 · answered by le_disko 2 · 0⤊ 1⤋