Our combined debt is about $40K and we cannot afford to pay such a high price for a lawyer right now. We want to be able to buy a home in the near future, and are considering settling each debt individually or filing BK if that would be more affordable.
We are a freight forwarder and at the brink of filing for bankruptcy. Our client, the shipper, ran out of warehouse space to accept shipments and instead had the trucking company hold the containers for over three months. The shipping company charges detention or per-diem fees for the containers... Read more »
Assuming your case will be what we call a "consumer" bankruptcy, you will have to pass the "means test", have the required credit counseling, and establish that your living expenses are reasonable, necessary and uses up all of your disposable income.
I am terribly sorry that all of this is happening to you.
Unfortunately it is not possible to give you an armchair answer from long distance. A lawyer will need to review the actual file. For example, there might not be a stay for someone who has filed multiple times. Or, a land lord who...Read more »
I have a judgement. I put a lien against their bank account. The bank was listed in their bankruptcy so they won’t release the money to me. I was notified by the bank there was a bankruptcy. The filer didn’t forget to list me. He filed at the same time he submitted statements to the court in... Read more »
Meaning the loan paid off the credit cards plus other things and the cards are now all closed. After about 5 months I am finding it hard to continue to make the payments on the loan. Can I file for bankruptcy?
I agree, it's high time to consider bankruptcy. Most BK lawyers will give you a free consultation so you can find out if it's going to be good for you. I suggest that you not hesitate to consult several or more lawyers. You will find there are big differences between lawyers in what they...Read more »
No, not necessarily. The lender is entitled to insist on having you reaffirm the loan. That is because the practical effect of your bankruptcy is eliminate the benefit the lender currently has of having you as a cosigner. Remember, they would not trust loaning money to the other person without a...Read more »
Bankruptcy was not due to mismanagement of my own funds, nevertheless still a BK. My financial license is inactive at this time, can I reinstate it once BK is final and still continue to do the only job I know. I stay in California.
You will find out in any event when you go to reactivate your license.
In my opinion, I expect your license will be activated unless you have committed the same kind of offense that would keep anyone else from having a license. The BK, by itself, should not prevent the renewal of your license.
I am considering filing for bankruptcy. My business has failed, and my debt is just insurmountable. I am recently divorced, and two of the credit cards that will be part of the bankruptcy were listed in the divorce decree as my responsibility to pay. My ex-husband is still the primary on those... Read more »
The bankruptcy law says that obligations arising out of a divorce decree are not dischargeable. In the is case, you may discharge the debts you personally owe to the individual credit cards, but your ex remains liable and you remain liable to your ex to hold him harmless - by reimbursing him for...Read more »
With a pending lawsuit, which was dropped, we had to file BK. However, a settlement was reached, the lawsuit dropped and the BK dismissed by the Federal judge. We were never delinquent on any bills/credit obligations. NO ONE got hurt (our credit reports shows that). Yet, everyone is... Read more »
I feel for you, but I'll explain why it won't get cleared up. It is going to remain on your credit report for 10 years. It will stay there because your credit report is a summary of how you have handled your financial obligations. You actually did file bankruptcy. Filing it was your...Read more »
Approx 50,000 in navient loans with accrued interest. Stemming from Los Angeles Film School. I graduated 3.98 goals and worked in the film industry for a couple years but now I live back in SAN Diego, have gone back to working as a programmer (when I'm working), and have recently become... Read more »
I was told I cannot prove undue hardship because I may someday after the program be able to pay. (Loans obtained fraudulently from a for profit college in trouble with the fed govt) So 3 years from now I may get a job nursing. All the while accruing interest on these loans. I support my son on... Read more »
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