Thinking about Bankruptcy more every day
 

So the stupidity and bills just keep getting worse.

I have to be a good 35-40 grand in the hole, with no real sign of recovery.

Only problem with it all is 1, my dad co-signed on my car and student loans. Also the federal student loans cannot be bankrupted on to my knowledge.

Anyone every filed before, can you tell me if its possible to just not bankrupt on the car and loans, I don't want to hurt my dad's credit, and I also would like to not bankrupt on the stuff I use like Comcast, and my cell company.

I seriously see no sign of recovery anymore.

Re:Thinking about Bankruptcy more every day
 

nice sig...i like it...and i dont think i have every taken a loan out before

Re:Thinking about Bankruptcy more every day
 

Student loans I highly doubt. How in the world did you get in that much debt. You have to go to court and get a lawyer. I known a fair amount of people who have filed and if you have lost your job or have lost a large income you should be able to do it. What goes away is credit cards and you must continue to pay on the vehicle, one late payment it's gone. Also forget about having a credit card for the next couple years.

Re:Thinking about Bankruptcy more every day
 

Well lets see a rundown. these are the remaining balance #'s


Student Loan Federal - $15,000 (almost $20K when paid off)
Student Loan Wells Fargo - $5000
Car Loan - $3000
TMobile - written off years ago $1800
Chase - $2000
CapOne - $400
BankOne - $2500
AT&T - $400 (current service, want to pay and keep)
PGE - $200 (current electrical service, keeper)
Verizon - $275 (Old roommates owe me $200 for that, $75 is mine)
Les Schwab - $350 (tire prices suck anyways so ---- it)

Grand total, about $31,000. Keep in mind I have never made more than $10/hr at any regular job. Anyone wanna gimme 30 g's?

This is the main bulk of it. If all this just went away life would be so kick ass again. Right now its just depressing.

Re:Thinking about Bankruptcy more every day
 

The car payments are of no concern, i traded my dad the car loan for his part of my student loan, the $5000 one, so I got a bigger balance but a smaller payment. Worked out nice. I think I could bankrupt on the Wells Fargo one but I'd lose my checking account.

Re:Thinking about Bankruptcy more every day
 

i did it back when i was 18..lost my job lost my car to the bank's repo man and had to file for bankruptcy. The fucked up thing was that my dad was the co-sginer so if i filed for bankruptcy they would go after him too. Long story short we both had to do it. Funny thing is it didnt affect his credit much and me ..well i dont have very good credit. I also had student loans and there is no way you can put those in with bankruptcy. Just pay the school loans off and the other ---- can go to hell!!!

Re:Thinking about Bankruptcy more every day
 

don't be so anxious to pay off your student loans, they can, and in most cases do, benefit your credit score. An old professor of mine was still paying his student loans and he was like 60. It's not that he couldn't pay them off, i think it was good for credit and he used it as a tax write off.

So it's not too bad.

You're debt doesn't seem too bad considering about 75% is for student loans. How old are you? And how much do you pay a month on all these bills total? Do you pay the just the minimum or a little more? There are a lot of things, that come into play.

People know I roll like a baller, and friends and people don't know think I live like a baller. I don't think I do, but I could see where they get that image from. :D

Just little stupid credit cards, I owe $6,000 and that's only from the cards I use daily, and that's only from the cards I can remember off the top of my head, I don't wanna dig through my wallet. I still have other cards like the one my car is on, but I guess you could consider that a car loan. And this doesn't include any rent or utilies. I work for chicken sratch money, but I handle it. On just that 6000 i pay about 400 dollars a month and that is just a few dollars over minimum for each one. With all this debt I make sacrifices. I don't buy clothes for ----, all the SoCal homies know I rock white tee's, last pair of jeans I bought was like 4 years ago. I try not to waste money on eating out, whether it's fast food or a resturant, if it is a resturant I have home chick pay.

Just review your income and your spending habits, see if there are things that you could do without, like going to the movies every weekend or what not.

I would resort to bankruptcy as a last resort, especially when you file bankrupt, you ---- up your credit, and if you pay off everything on time, you have badass credit, especially important for your future (i.e. house, etc.).

Hell even try one of those credit consultants you always see on t.v. that's probably better than bankruptcy.

Re:Thinking about Bankruptcy more every day
 

don't file bankruptcy!! there is no debtors jail, you can not get in any trouble for not paying your bills. just pay the bills that are neccessary (house, electric, car, whatever) until you can afford to pay the rest.

Re:Thinking about Bankruptcy more every day
 

what does it mean when the fuckers call you and bug you and then they say, well we are just gonna write it off...what does that mean.


then i look on the credit report and it says writtin off...

Re:Thinking about Bankruptcy more every day
 

if it's written off it's just like bankruptcy.

try this:
go to a service(make sure it's non-profit) consumer credit counselors is a very reputable one.

contact your creditors and explain to them you are having a lot of financial dificultly and would like to negotiate a way to pay off (lower interest/no interest/.50 on dollar)

both will have an affect on your credit, but not nearly to the degree that bankruptcy does.

you might be able to renegotiate your school loans, but those are the only one's that you won't get much help on with bankruptcy.

you have a lot of school loans...what was your degree in and why aren't you making any money?

Re:Thinking about Bankruptcy more every day
 

since we are on the subject, what is the difference in school loans?
federal and student. i dont know the differnce...

Re:Thinking about Bankruptcy more every day
 

how bout takin a huge loan to pay it all off, so you've
only got one bill per month? .. then stayin on top of it.

Re:Thinking about Bankruptcy more every day
 

That'd be great if anyone on the planet would give me a loan, which they won't.

Federal student loans are given out by the US Dept of Education, whereas my Wells Fargo loan is just a basic bank loan with low interest.

Re:Thinking about Bankruptcy more every day
 

why don't you consolidate your debt so you save an assload on interest?

Re:Thinking about Bankruptcy more every day
 

Because there isn't anyone left on earth that will loan me the money for a debt consolidation. Bank of Pluto maybe?

Re:Thinking about Bankruptcy more every day
 

http://www.rootsofcompassion.org/new...mages/A002.jpg



+



http://www.zvis.com/images/guns/cgdep1.jpg



+


http://www.cruisin66.com/oldgas/oldgas3a.jpg




= Debt consilodated

Re:Thinking about Bankruptcy more every day
 

crackhead. ::)

Re:Thinking about Bankruptcy more every day
 

There are a lot of things you should do:
[list][*]Get that money from your friends and pay that bill off[*]Sell a ton of ---- on eBay to make a little money[*]Get a better paying job[*]consolidate all bills but the school ones[*]Live at home til you get this ---- paid off[*]cut up your credit cards[*]quit spending money[*]Call debt consolidation service and work something out

Re:Thinking about Bankruptcy more every day
 

[list][*]Get that money from your friends and pay that bill off - HA[*]Sell a ton of ---- on eBay to make a little money - ebay account suspended.[*]Get a better paying job - welcome to oregon[*]consolidate all bills but the school ones - see above[*]Live at home til you get this ---- paid off - not looking to move to podunk north idaho, and my mom would charge me just as much rent as i already pay[*]cut up your credit cards - what credit cards? they're all suspended[*]quit spending money - what money?[*]Call debt consolidation service and work something out - they are unwilling to work with me.

Re:Thinking about Bankruptcy more every day
 

Don't sweat it. Many people have to go into debt to get ahead. Good luck getting a decent mortgage if you declare it now.
Hell I am in debt about 25g's. I hate debt too, but you have to experience it sometimes.

I VOTE NO.

Re:Thinking about Bankruptcy more every day
 

I know I will probably never do it. Just feels tempting sometimes doesn't it?

Re:Thinking about Bankruptcy more every day
 

I feel ya. Im no where near in debt as much as you.
somewhere around 10k. 3-4 is bullshit that I got screwed on
with an old lease vehicle that I turned in at the end of the lease term nd they reported it as repo'd. I really wanna file for br just to piss them off.

but I wanna buy a house so I have to pay I guess

Re:Thinking about Bankruptcy more every day
 

i like whiteys plan, its simple and it will work

Re:Thinking about Bankruptcy more every day
 

haha 2 words. your fucked

u put yourself there and now u will pay a price.. sucks ass. guess it wont happen again, good luck! :-\

Re:Thinking about Bankruptcy more every day
 

i hope you die sooner than normal. >:(

Yes I did put myself there. I should've never gone to college. Seriously its the cause of 90% of it all.

Re:Thinking about Bankruptcy more every day
 

get a reeal ------- job.

Re:Thinking about Bankruptcy more every day
 

as stated above:

1. had one, got laid off.
2. welcome to oregon.

now get off these posts and go deal with the classifieds you never follow up on :P

Re:Thinking about Bankruptcy more every day
 

I think i can help. The only way to really save money is to make settlements with all the credit card companys and phones and ----. If you owe them 2000 tell them you're going to offer them 300 and close out the account. If they say no tell them you're going to file for bankruptcy. Then there gonna be like ok give us 700 or something. ---- maybe they'll even let you give them 300 it all depends. I used to do ---- like this at work for borrowers. It was illegal for me to do because i pretended to be my client i was trying to get the loan for but ---- if i cared. You just gotta threaten them because if you file for bankruptcy there not getting ----. Best of luck to you.

Re:Thinking about Bankruptcy more every day
 

some of the best advice given.

Re:Thinking about Bankruptcy more every day
 

get the college loans defured and all you need to pay on them is intrest. it helps a hell of a lot when your out of cash. then when you pay the rest of that small ---- down go back to paying the loans. its kinda like putting them off for a bit.

Re:Thinking about Bankruptcy more every day
 

I can think of a ton of jobs that pay more than $10/hr. you should get one

Cable/sat installer
landscaper
construction worker
Electrician
prostitute
exotic dancer
Street Pharmacist
warehouse worker
working for Pepsi or Coke (pays a ton, shitty hours)

Re:Thinking about Bankruptcy more every day
 

3. get off your ass and get another job. hell, im sure mcdonalds is hiring!

Re:Thinking about Bankruptcy more every day
 

hell yeah. this is a good way. humm...

Re:Thinking about Bankruptcy more every day
 

become a jiggalo

Re:Thinking about Bankruptcy more every day
 

I agree, put that mangina to use

Re:Thinking about Bankruptcy more every day
 

i owed $7800. to some private loan company that was lending money to students of a computer networking school.
i never passed the coarse so i quit and i paid $200. to a company that gets negative info off your credit report on all 3 beaurous and now my credit is squeky clean. you should check into that. and if i get anymore negative reports on my credit, they'll remove 1 negative report for $10. each since i paid the initial $190. to get started. ands it's all legal. since then i've gotten 2 credit cards with nice sized limits.

Re:Thinking about Bankruptcy more every day
 

Maybe you can go back to your alma matter and trade in your degree for cash???

And quit being such a ------- baby. I went to a 2 year tech school, got screwed on 2 car loans, had serious credit card problems and never once sat online and cried about it or made excuses for why I have so much debt and why I can't pay it off. I'm sure you weren't crying every time you went to a frat party or were pulling out plastic to pay for everything. Useless.

Re:Thinking about Bankruptcy more every day
 

We had a company like this working with us. You have to becareful a lot of the stuff they say is complete bullshit. Make sure you run the credit your self with another company instead of just looking at the reports they show you. The guys we had working for us would edit the credit reports on the computer and show them to us. Then when we ran the credit to give to the bank it was completly different. So just becarful. Also the amount of inquiries you have on you're credit affects your score as well. Those drop in 60 days though. I'm pretty sure this guy doesn't care about his credit if he's thinking of bankruptcy but just only do this if it's your last option. I had to get a loan for a lady that filed for bankruptcy when she was in her early 20s and the ------- ---- still showed up when she was trying to refi her house when she was 43!!! So she got fucked on the rate. Again goodluck with whatever you do i know how ---- like this affects people and it's not good.

Re:Thinking about Bankruptcy more every day
 

Just curious if anyone has actually tried this and succeeded?

Re:Thinking about Bankruptcy more every day
 

It'll work....as soon as you mention bankruptcy they'll be willing to settle for almost whatever you can give them.(Well lets not say that..they'll be willing to settle for a lot less) Think about it...you file for banruptcy they don't get a dime. All they get to do is write the ---- off as a loss and they don't pay taxes on it. If you settle with them the write off the amount you didn't pay and they don't pay taxes on that.