I doubt I would qualify for a loan from my bank to pay it off. I also don't think I would qualify for one of those consolidation services because I don't have a good record of paying my credit cards on time. I am so ovewhelmed. I just paid off a lot of money to one of them, and because it was a day late, they increased my balance, so it was like I didn't pay anything at all! I'm starting to think about declaring bankruptcy but for one of my jobs (I have 3) I am a nanny and get paid under the table. I'm scared that I'll get in trouble for that. Can someone please help me? I'm shaking so bad right now..I'm having a hard time breathing because I am so worried.
2007-10-21 19:57:34 · 9 answers · asked by LBCgal 1 in Business & Finance ➔ Personal Finance
Before you choose bankrupt ,checking into some bill consolidator s or credit council for help.Good Luck
2007-10-21 20:03:07 · answer #1 · answered by Anonymous · 1⤊ 0⤋
You should visit QUOTESDEAL.NET- I am sure here you can find the best option for you RE Can you eliminate credit card debt by declaring bankruptcy? Can an individual eliminate credit card debt by declaring bankruptcy? I didn't think you could wipe it out, just get the bill collectors off your back. But, someone told me that it depends on which chapter of bankruptcy you use. The right one WILL eliminate credit card debt. I know someone who has $80,000 in credit card debt and they are trying to do that to get rid of that debt! Is it really possible? Are there any restrictions in doing this. Can you ever get a credit card again if you do it?
2016-05-24 03:09:21 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Well first if your credit score is a 605 your credit is not great but it could be allot worse. I do not recommend you file BK as that will haunt you for ten years. I really don't have enough information like total credit card debit ,and other debt. I was a finance manager for several years and have seen credit scores as low as 350 so relax. This is a site that will answer all your questions and give you all your rights as you have plenty that your not aware of www.creditinfocenter.com That site is the best out there and again remember there is no such thing as debtors jail so calm down and go to that site. Hope This Helps
2007-10-21 20:22:59 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Well, you have to disclose all your income from the past 6 months when you file bankruptcy so if you are concerned about that, then that can be a problem as you also have to provide tax returns for the past two years to the trustee. And i you paid that credit card over $500, the trustee can go after them (not that you should be concerned about that if you file, because the debt will be discharged. Whether it is a good idea, you need to consult an attorney and decide if it makes the most sense to you.
You should not need three jobs after you file though...
2007-10-22 10:52:29 · answer #4 · answered by Lesley 5 · 0⤊ 0⤋
Well if you declare BK you will at some point have to state your income, so since you get paid under the table, that income does not really exist does it? So you have two problems here, either fraudulent stating of income in order to get credit, or the inevitable IRS finding out you have been getting paid without paying taxes, add the people you are working for getting hit with an audit for not paying taxes, which is a Federal crime, and it seems like we have a front page splash in the local newspaper. As a taxpayer on all my earnings, I am tired of paying for those that do not.
2007-10-22 11:46:22 · answer #5 · answered by Pengy 7 · 0⤊ 1⤋
Contact a credit counseling service. They specialize in your kind of problem and they are typically not-for-profit cmpanies.
2007-10-21 20:07:21 · answer #6 · answered by Anonymous · 1⤊ 0⤋
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2007-10-22 11:26:08 · answer #7 · answered by beverly l 1 · 0⤊ 0⤋
It depends how much you owe. Is it over 10k? over 30k? Let me know and I'll tell you my opinion.
2007-10-21 20:07:32 · answer #8 · answered by chris 3 · 0⤊ 0⤋
I think declare bankruptcy is what you should do.
2007-10-21 20:03:59 · answer #9 · answered by Sunny San San 4 · 0⤊ 1⤋