i owe 2 insurance companys money that i have to get a release from so i can get my license.the company i owe over 7 grand made a deal with me stating i have to pay 1000 and then 100 a month....but the company i owe 2000 to says i have to pay all of it at once to get a release...i have already paid the first company 500,but it doesnt matter since im screwed anyways.my grandpa thinks i should file for bankrupsy but i dont want to.im only 21,there has to be a way to get this taken care of?????
2007-03-01 06:21:10 · 5 answers · asked by Anonymous in Business & Finance ➔ Insurance
I'm assuming the reason you owe this money is because of a car accident you were at fault in. The money you owe is your "financial responsibility" that the courts ordered you to pay before they'll allow you to get another license??
If the above is true, then you're going to have to pay up before you can get your license back. You could file for bankruptcy to get rid of the debt but that still isn't going to take care of the court ordered financial responsibility. The courts can still keep you from getting your license because you never met the requirement. You might wind up getting out of debt but you still won't have a license.
Walk. Ride a bike. Take a bus.
2007-03-01 06:47:21 · answer #1 · answered by Faye H 6 · 0⤊ 0⤋
try to get a consolidate or signutre loan from a local credit union and pay them off. I am loan officer and you are too young to screw up your credit like that. Doing bankrupsy will do too much demage. Try to get the other loans first. ALSO if you own your car you can get a loan against the car to pay your bills off. Do some research you'll find a better answer then what Pa's gave ya.
2007-03-01 14:30:46 · answer #2 · answered by The Voice Of Reason 4 · 0⤊ 0⤋
You need a second job, flipping burgers at McDonalds would clear this up pretty quickly.
I think it's nuts to file bankruptcy over $8,000. That's six months of a minimum wage second job, with no tips. You could have it cleared up honestly sooner than the bankruptcy would get through the courts.
2007-03-01 14:30:21 · answer #3 · answered by Anonymous 7 · 0⤊ 0⤋
Get a debt consolidation loan with the website below
2007-03-01 14:50:57 · answer #4 · answered by Alex K 2 · 0⤊ 1⤋
Use public transportation, or a bicycle, or your feet until you get your license back.
2007-03-01 14:25:43 · answer #5 · answered by Anonymous · 0⤊ 0⤋