Okay I’m just throwing that out there…I am considering filing for bankruptcy… Does someone know the process or can recommend any good books to read to help me determine if that is the right way to go or what my options are. Bankruptcy attorney’s are between $125.00 and $150.00 for an hour consult….Any suggestions are welcomed…(Yours too SteveA) This is a serious and sensitive matter. Please no Spam and feel free to PM me if you would like..
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Personal Bankruptcy
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Sorry. I had to file, but I had divorce going on, and he was filing, it was the only way to protect my interest in the property.VERY tough decision. Have you checked into credit counseling services? Many are free for the consult, and for a nominal fee, like $35 to help you with a plan, then they also have "consolodation plans" that cost you a percentage or in some cases a flat fee, to pay your bills for you, and deal with the creditors if they are harassing you. They can go over things with you and help you make an informed decision (of course you need to remember, they want your business too). But often, they can give you some really great info.It's a good place to start, check out what is in your community. Good luck man, it is a hard place to be!
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Thank You everyone for your caring thoughts, concerns and all of the PM's.... There is a lesson here and I'm sure it will all work out.
The best advice I have been given is "When life throws shitty things our way, and you gotta face the issues head on and move forward one way or another."
Amen to that!
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The laws for chapter 7 bankruptcy changed last year. Depending on your income and situation you may not even qualify for it. You need to seek the help of a professional to see if you can even go forth with it.
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I fell in just before the changes took place, so I got to chat with my atty about it. Seems that most people will still qualify, that qualified before, but you have alot more paperwork to do. There is more "proving" that your un able to pay your debts. I find it sad because, by the time a moral person hits the wall, and decides on a BK, they are so emotionally, financially, and morally exausted, the last thing they need is more questions and expense. I guess they had to do that though, because some people just figure it is a way to get stuff for free...
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> I guess they had to do that though, because some people just figure it is a way to get stuff for free...
Some did, and the Republican line is that everyone was doing it, but that's nonsense. At least half of banbruptcies are from out-of-control medical expenses (typically, people with no insurance getting a serious illness, but some people with health insurance get wiped out...lovely system it is).
The new law is a Republican gift to their benefactors and pals in the financial services industry. Meanwhile, corparations can declare bankruptcy as easily as ever, as far as I know.
To those who say "they're all the same": you're wrong. The "little guy" has been nailed to the cross these past few years. Thank you very much, Republicans. Meanwhile, while they're calling special sessions of congress to pass a bill for Terri Schiavo, and Bush takes valuable time away from clearing brush on his ranch to sign the bill (even though he couldn't be bothered doing the same while hundreds of people were dying in New Orleans), over 45 million people, many of them children, have no health insurance.
I don't know how those "paragons or morality" sleep at night. They are deaf to the suffering of others.
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Unfortunatly it only takes a few to riun it for us all...You know, I never considered mine to be related to medical, but in a way it was. Divorce, split income, I wasn't in a mental state to work full time...not after the house fire, and all the crazyness...Even with the validity of my BK, it was VERY difficult. As far as I know, corperate Bk is just as easy as ever. Though, finacial records are usually better kept, therefore making it an easier thing to pull together.If I would have filed under the new laws, they woudn't have granted mine, because I hit the wall of F IT! I wasn't opening mail, and not keeping records, I was unable to see the value in caring anymore. I basically knew I was screwed, and didn't need the daily reminders...PLUS, they never take into account the fact that even as a married couple, if he was the only name on the account they (the creditors) wouldn't talk to me, even though it was blowing MY credit to bits, because our SS#'s were connected in the system. Pretty messed up if you ask me!!
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Unfortunatly it only takes a few to riun it for us all...It only takes a few hundred politicians and a president with their heads up their asses to ruin it for most people. Unfortunately, they don't just have their head up their ass; they also have their foot up ours.If you have a bunch of ideologues who are dead-set on doing something, any excuse will do, whether it's invading Iraq, torturing prisoners, or allowing insurance, energy, and financial industry lobbyists to write legislation (yes, that is actually true) that congressfolks vote on without reading.If you're in the top fraction of one percent of income earners and asset holders, not of this affects you. You might be happy to get rid of the estate tax, but other than that, you have few worries. If you're among the 99+%, though, you're pretty screwed.In any case, the fact that someone is financially wiped out and loses everything, including their house, and are still on the hook to spend the rest of their lives trying to pay some insane hospital bill is just wrong.
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As far as I know here, it is still pretty easy. Just more time consuming, but we can either file under California banruptsy, or federal...we do have a choice unlike many other states. But the paperwork has just become more intense.As long as you qualify for a bankruptsy, usually you can keep your home, and many assets. The only things your not off the hook for are, college loans, taxes, court fines, or damage awards, and child/spousal support arrearages..
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As long as you qualify for a bankruptsy, usually you can keep your home, and many assets.Yes, as long as you qualify. In Florida, and I believe in Texas, and to varying degrees in other states, creditors can't come after your house even if you're not bankrupt...unless they hold your mortgage or are your (ex-)spouse. I presume a mechanic's lien would also qualify.
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Here they can come after your house, but the leins can be discharged via bankruptsy. Unless it is for the above mentioned, college loans and such...