Sheila B asked:


I need to file for bankruptcy, to clear all my old debts, and those I can't pay. How do I do this cheaply, and without a lawyer

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In Foreclosure asked:


H.R. 1106 has a clause allowing one to put their primary residence into a bankruptcy, therefore lowering the monthly payment to an affordable one. At this time the wealthy can put a vacation home, boat and airplane into a bankruptcy.
I am 71 years old diabetic with congestive heart failure. I have lived in my home for 36 years. 10 years ago I went to my bank asking for a business loan. The banker suggested I take the equity out of my home and and change my loan to an adjustable loan. For the first 3 years it was fine. However my business failed and I'm on social insecurity. I have emptied my savings, sold my furniture and jewelry to pay the ever increasing mortgage. My monthly income is $913.00 a month and my mortgage now is $2123.00 per month. If I cannot get help from the courts, my only other alternative is *******.
To the best of my knowledge H.R. 1106 was passed by the senate and sent to the congress last week and is stil sitting there.

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Jenice C asked:


I am in very bad credit card debt. i owe about 16 thousand and make only $462 a week take home. I also pay $450 a month for rent plus utilities. If i filed for bankruptcy, what are the procedures and how long would it take until i can restore my credit and get credit again (i live in New York city..brooklyn) I keep trying to make payments..since i owe so much i miss payments sometimes and get way off track and have a bad time getting back on track. for instance…i finally payed my chase card $234. the customer service woman said that next payment would only be 120 and now the automated service is telling me my minimum payment is 400….how can i handle that. My main concern is getting out of this without effecting me horribly in the long run? after filing for bankruptcy how long would it take to restore credit…does it apply differently to different people? are their any programs that can help that wont hurt my credit? PLEASE HELP!!!!!!!

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katydint asked:


Are we living in the best place (USA) at the best time (they're still soliciting me to accept credit cards!!), or what? How long does personal bankruptcy last, and is it only then that I should be looking at to begin rebuilding my credit history?
I'm liking not using the cards, tho' . . .

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ShoeGal asked:


Is there any alternatives for loans or business cards? My Company has not even started yet. I wanted to purchase merchandise without getting a loan. I don't know what to do - please help. My company is an LLC Online only. I only have an online store. Can I buy stuff with a personal credit card and write it off for tax purposes or do I need a Business Credit Card?

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jinxies asked:


We are filing bankruptcy due to high debt. We own our home which we are going to try to sell…if not, then we are going to do a short sale. We've NEVER been late on any payment (both mortgage or bills) but are struggling each month and it's ruining our lives. My question is, every one requires a credit check these days (to rent). How do we find a place to live? I want to keep my children enrolled in the school but the other alternative would be to separate living arrangements and move to our parents homes (I wont live with my in laws & my husband wont live with mine. We can rent a house for what an apartment goes for in another city. How do we get a landlord to look past the bankruptcy and see that before it, we made every payment on time (while struggling to do so). We could easily make the rent (minus all the extra debt we had).

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Rahl asked:


I have had two financial advisers tell me to declare bankruptcy when I graduate from college, or sooner to eliminate my credit card and school loan debt, and one telling me that I should probably get more financial aid (all from different firms)…. The interest rates on private loans for schools are ridiculous (I am going through Sallie Mae), and I am already freaking out about how much I am going to have to pay back…

I don't really have any family, and I am currently in my Junior year in college. I have been working full time, and paying my school on my credit cards, apartment etc etc.. (I have 3 with a total of $9000 credit line, and they are usually maxed out when new semesters start). I get a little bit of money from the federal government (FAFSA) for school, but it obviously is not enough… I also have a bit of private loans from my grand mother who is co-signing for them.

So should I declare? When if I should?

I am not trying to skeeze my way out of it, and I am fine with paying it all back with the career I get when I graduate, but I am really scared about the whole thing (private loans), and I would like to know if there is an ALTERNATIVE route without having to sell my first born child. The gov. and my full time job do not provide enough income for school and such, and I can only work so much taking an average of 18 credit hours a semester.

If I declare bankruptcy, will it affect my grandmother since she is co-signing?

Please help me out. I am open to all constructive help and legitimate ideas that don't involve anything illegal.

Kansieo.com

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David D asked:


I need at least 10 people to answer. You don't need prior knowledge about the subject, just what you know right now. State your age. Thanks a lot for answering.

1. Do you know what bankruptcy means?
2. Do you know anyone in your family or friends who have been bankrupt?
3. Have you ever worked for a company who has filed for bankruptcy?
4. Do you know how many chapters of bankruptcy there are?
5. Why do you think a company goes bankrupt?
6. Do you have a financial strategy to avoid bankruptcy?
7. Do you think your money spending habits will eventually lead you to file for bankruptcy?
8. Do you know if you have alternatives other than filing for bankruptcy?
9. Do you know the consequences of filing for bankruptcy?
10. Do you know how long bankruptcy will affect your credit score?

copy paste the numbers with yes/no answer or however you like . Thank You!

1
2
3
4
5
6
7
8
9
10
Question 6 is about opinion, so think of a short answer, thanks
question 10 , answer how many years you think

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Phantasia asked:


Just wondering if anyone has used a debt management service and knows if this is possible. I know they set them to automatically close when they are finished, but does anyone know if you can contact the credit card company and ask them to leave it open once it is paid off? The reason I ask is because I know it is better for your credit score to have accounts that are a few years old open, with available credit, rather than closing them when they are paid off.

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mom24athome asked:


I want to eliminate the rest of my credit card debt. I see the ads for debt management services where they work with your creditors to reduce your interest rates, then combine all of your debt together, where you pay them one payment per month. My husband thinks this will reflect negativly on our credit report. Has anyone ever done this, and were you succesful in eliminating debt? Did it affect your credit rating in a nigative manner? I think that most people in America today, have alot of consumer debt, but I see many poeple who aren't worried about it, and only pay the monthly minimums each month. I have been there before, but I am ready to pay it all off. What do you think? I would love to hear from anyone who has used these services before, or any other great idea to pay it all off, without taking out any more loans. Thanks!

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