My former roommate left me with major debt. His truck (which was in my name) got repoed. Now the attorney for Bank of America which held the truck loan is calling wanting 12 thousand dollars. I don't have it or the means of getting it. He left me with other things on my credit as well, including credit cards and rental debt. I'm 34. Am I eligible? My credit is messed up anyway. I would appreciate any suggestions. I'm getting daily calls from the attorney's office and I don't know what to do.
2007-09-11 14:18:59 · 9 answers · asked by mj 2 in Business & Finance ➔ Personal Finance
In 1996 over 1.2 million Americans filed for bankruptcy. Most of them did so on the advice of friends or an attorney who told them it's the best or only way to get creditors off their back. Unfortunately, most of them didn't need to, but they just didn't have the right knowledge to make an informed decision. Know more about bankruptcy here, Whether filed as an individual or business, bankruptcy is one of the worst items you can have on your credit report, and it won't go away for a long time. Federal law does not regulate how long bankruptcies can remain on a business credit report, but personal bankruptcies remain:
2007-09-11 14:35:18 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You should visit PROTECTIONQUOTING.NET- I am sure here you can find the best option for you
RE Should I file bankruptcy?
My former roommate left me with major debt. His truck (which was in my name) got repoed. Now the attorney for Bank of America which held the truck loan is calling wanting 12 thousand dollars. I don't have it or the means of getting it. He left me with other things on my credit as well, including credit cards and rental debt. I'm 34. Am I eligible? My credit is messed up anyway. I would appreciate any suggestions. I'm getting daily calls from the attorney's office and I don't know what to do.
2014-10-05 17:33:48 · answer #2 · answered by ? 1 · 0⤊ 0⤋
well I can answer this question is b/c I'm about to file so I can be some help to you. In order to file your income has to a close or near the poverty line. If it is not you will have to go and get credit counseling. The best place to start is your local consumers credit counseling services. it free and they will tell you if you can file. Or you can go to a bankruptcy lawyer and they can do it all for you in one shot. But whatever you do you need to act fast, If I were you I would see the lawyer so if someone tires to sue you. your lawyer can help. if you have any more ques. e-mail me, I can send u a link where you can put in ur income and it will point you where u need to go.
2007-09-11 21:36:18 · answer #3 · answered by lynnn30 4 · 0⤊ 0⤋
Consult with a FREE Debt Consolidation Service. There are non-profit organizations you can find on the web. Do not even consider filing bankruptcy at this point. Find out what your options are first from a competent consultant first. Hope this helps.
2007-09-12 00:23:31 · answer #4 · answered by jdh 3 · 0⤊ 0⤋
You should contact a bankruptcy attorney to see if you qualify. It really depends on how much other debt you have.
Bankruptcy will stay on your credit for 10 years.
2007-09-11 21:38:40 · answer #5 · answered by bdancer222 7 · 0⤊ 0⤋
They took the truck and they can't ask for anything else. You simply tell them you can't afford to pay. If your credit is already low, they can't hurt any more as long as you have a place to stay and do not intend to buy any major item.
I hope you learned the lesson of never ever buy an expensive item on your name when the other person is not your spouse.
2007-09-11 21:34:10 · answer #6 · answered by Anonymous · 0⤊ 0⤋
you can. B. chapter 7 is where you don't pay anything back but they come and get your stuff.
B chapter 13 is where you get to keep your stuff and you pay a monthly payment based on your income.
I found interesting information about your answer & options here. (this article: Personal Bankruptcy, the myths and facts:)
http://all-debt-consolidation-loan.blogspot.com/2007/08/personal-bankruptcy.html Good luck!
2007-09-12 11:05:48 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Your affairs are a muddle. Call a local bankruptcy attorney to discuss your options.
2007-09-11 21:30:21 · answer #8 · answered by Anonymous · 0⤊ 0⤋
i think u should ask for the truck back and get payment plan and if u dont want it u can sell it but bankrupt its going to stay in ur credit for 7 years at least try to rebuild ur credit slowly
2007-09-11 21:28:37 · answer #9 · answered by Anonymous · 0⤊ 1⤋