Bankruptcy ???

[Johnnie]

anyone with experience?
do's...and dont's??

 

[Indolent]

ummmm.... Don't

 

[Electric Amish]

I'm 1.5 years out. Do it as a last resort, but BEFORE your credit history goes to complete crap, that way you'll only have the bankruptcy on your credit.

1.5 years out and I have 2 new CC's and just bought a used car.

amish

 

[ROTC1983]

Don't sink into bankruptcy.

 

[Johnnie]

situation=divorce..the future e-wife is yet to work..my bilss
around $2500/month...my pay=@2700/month...
i have extra $600 a month in reny..plus truck payment..$400/month
i am thinking of chapter 9..letting my house go...
any input?

 

[Corsairpro]

Bankruptcy is a significant financial decision that will affect your credit history for up to ten years. Unfortunately, some view declaring bankruptcy as a quick fix that gets you off the hook for your unpaid bills without consequences. Filing for bankruptcy should only be considered when everything else has failed.

If you are considering declaring bankruptcy, keep in mind these potential problems:


If you decide to move in the next seven to ten years, it may be difficult to rent an apartment or qualify for a home loan.

Businesses increasingly use credit reports when making employment decisions. A bankruptcy filing could determine whether or not you get the job you want.

Phone companies and other utilities or service providers may look at your credit history before deciding to grant you service.


So, before filing?


Talk with your creditors. Despite what you may have heard, your creditors are often willing to work out a payment plan to help you pay off what you owe.

Consolidate your debts. If you own your house or have a retirement savings plan, you may qualify for a debt consolidation loan. Be sure to do your homework - these are not decisions to be taken lightly.

Talk with a nonprofit counseling agency. These agencies can help you work to create a plan that will handle all of your debts. See the section below for further information.

Chase Credit Cards: Under the Student Section LOL

 

[yoda291]

Originally posted by: Johnnie
situation=divorce..the future e-wife is yet to work..my bilss
around $2500/month...my pay=@2700/month...
i have extra $600 a month in reny..plus truck payment..$400/month
i am thinking of chapter 9..letting my house go...
any input?

an e-wife? Is that like getting married online? I don't think those marriages are legally binding.

second, it looks like you need to talk to a lawyer about that divorce. Those payments are too high I would think. u cannot live on 200/month outside of soviet russia.
<insert in soviet russia joke here>

Where do you live?

 

[Johnnie]

Where do you live?

Sautee GA...30571

 

[zer0burn]

its disgusitng how they can take everything away from u...

 

[slycat]

yes screw them women who try to take our money...
if they want alimony, just hire a hitman to take care of them, its cheaper that way.

 

[Spamela]

Originally posted by: Johnnie
anyone with experience?
do's...and dont's??

do get an attorney right away to advise you
about the best thing to do.

not having the debts will be a great relief.

you'll have to have a mongo down payment or pay cash if you want to buy a car in the future
(not really such bad things for anybody).