A community of 30,000 US Transcriptionist serving Medical Transcription Industry

Has anyone filed bankruptcy before??

Posted: Aug 8, 2014

Is there a way to do it without losing your cars or home? I won't bore you with my sob story. Are there legal fees, etc?

Thanks

;

bankruptcy - anon

[ In Reply To ..]
Yes and it was the best thing we could have done. We were in way deep. Don't think they can take your home but we included ours due to owing much more than it was worth and chose to move and start over. You will have no credit but so what you get a fresh start and a clean slate to hopefully get back on your feet. We did have one vehicle repossessed. There are attorney fees involved. Good luck and you will feel better afterward, or at least we did.

Yes - sm

[ In Reply To ..]
My husband and I filed chapter 7 nine years ago and it was the best thing we could have done for ourselves. We had major credit card debt and hospital bills that were insane. We did not own a home but we kept our car. We did something called reaffirming our car loan where we had an agreement and signed a contract with the car loan bank that we would continue to pay our loan and keep our car. We hired an attorney to do everything for us to make sure it was done right, and I recommend you do the same.

Yes - sm

[ In Reply To ..]
I didnt do a 7 because I had 2 cars in my name and one was actually my son's car, he bought it but put it in my name for cheaper insurance..Couldnt guarantee me that I wouldnt lose one of the cars...I ended up doing a 13, where you pay back...My lawyer is an idiot, I am in the process of losing my house now because of bad advice..Cutting my losses and not looking back..whatever

Bankruptcy - anon

[ In Reply To ..]
Mine was just discharged in June. Best thing I ever did. I couldn't get credit anyway and one creditor was filing for garnishment and we all know we don't make enough to afford a 25% garnishment from our pay (and that is no matter what you make, make more and they still take 25%). I kept my car. Was told if your payments on a house and/or car are current you can keep it. Chapter 13 or 7 depend on your amount of assets and whether or not you can afford a repayment plan; assets compared to debt amount. The only thing I did which made the attorney laugh was I put in every creditor I could think of back to age 18. WTH, might as well claim EVERYONE if you're going to do this. He said he wished everyone would do this. Yes there are fees, but because I couldn't pay it all up front we started out in a chapter 13 at $46 every two week to pay the fees (and yes that was garnished) and when the fees were paid we changed it over to a 7. I bought a new car while in the bankruptcy even before it was discharged; not a great % rate but a new car and lord I needed it. I had to sign a form that I wasn't going to try to claim the new car at any point. It's the beginning of Aug and I have a credit card (albeit a $225 limit but still). I'm building credit with the new car and plan on trading it in in 2 yrs for a better interest rate. Got new TV and internet service with NO deposit from AT&T who was going to ask for a $500 non-refundable deposit before the bankruptcy was discharged. It's been fantastic!! I don't feel like I'm drowning anymore. I put it off for so long thinking I could manage, but when the garnishment order came for a large medical bill I called uncle and just went for it. Look around, call some friends, ask some people at church and get a reference on a good attorney and get some piece of mind. It's insane to think you can handle all the bills if they were anything like mine. Again it was the BEST thing I think I've ever done!

I did it - yes

[ In Reply To ..]
I had my bankruptcy case resolved last year. I paid 1,400 in legal fees. I kept everything...my house, car, although I don't have much more. The lawyer I used does it all the time and I felt so guilty about it, but I had no choice and when I went to court, there was another person there filing for the second time (there is a time frame for this). It was not as hard as I thought because my attorney assured me at our initial meeting that I definitely had the right and qualified to do it.

When the "judge" asked me why I had to file, the first reason I gave was a huge cut in my pay, but made sure I told him I work the same amount of hours.

I did - anon

[ In Reply To ..]
I did and it was the best thing I did. I filed almost 2 years ago mainly because we were so underwater on our house and could not get out from under it, plus I had a lot of credit card debt from before my marriage and before I lost my good paying job.

My husband who was not included in the bankrupcy put me as autorized user on his credit cards and believe it or not 1 year after my bankrupcy my credit score was up over 700 again.

Two weeks ago I bought a modular home for my daughter (I bought it, not my husband) and I just went to the bank and got a very low interest credit card.

At Christmas time I went shopping at Penny's and they said I could save 20% if I applied for a credit card. I didn't think I would get approved and was shocked when I got approved for $800.00.

I was able to keep my car which was paid for and we kept my daughter's car which I cosigned for and did a reaffirmation or what ever its called.

Was able to keep all assets and was discharged from all debt.

Being authorized user on my husbands credit cards really helped my credit score out after the bankrupcy. So it was the best thing I did especially since we got out from under the house.

Yes. Glad I did it. Free to live again. - xxxx

[ In Reply To ..]
You can keep your home and your car but will have to reaffirm your debt to them (in other words, keep them out of the BK) Cost me $900 for attorney fees. Mine was discharged in 2011 and I now have a credit score of about 680. Have some credit cards with a lower balance and a car loan with a good interest rate. Still having a problem qualifying for a home loan refi but mostly because of being self-employed, not because of the BK. Feels good to start fresh. I had to file because of hospital bills after we lost our med insurance and my daughter had a horrific accident. The BK solution is there for a reason, so use it if you have no other alternative.

all that kept your home/car - did you file 7? --OP

[ In Reply To ..]
thanks for all of your help. I don't think hubby is on board 100% but i'm not sure what else to do.

Yes - another thing.. - kv

[ In Reply To ..]
If the debt is in your name only (credit cards for example) you can probably file under just your name and "reaffirm" the debt on the house and car and keep them with your husband as one of your creditors. I did this 15 years ago after a failed business adventure, which was only in my name. We were married at the time, but rented and had no joint debt other than a newer car. I filed in my name only and he was listed as one of my creditors and it also did not mess up his credit. It was the best thing to do at the time. No regrets. Good luck!

Yes, chapter 7. The courts allow you to keep your - xxxx

[ In Reply To ..]
home by a "homestead" claim (I believe that's what it was called). They don't want you homeless also. And your car you can keep because you have to get to work somehow. They are reasonable. A good attorney will walk you through it. Be careful if you have ever had a repossessed vehicle or motorhome, etc. We surrendered a motorhome and after we filed for BK then they came after us for the deficit balance! Luckily, the BK had not discharged yet and we were able to amend it into the BK. Sneaky people out there. Include EVERYTHING you can think of that might come back to bite you in the behind.

Similar Messages:

Jun 09, 2015
I just flunked my second audit (99.35) and now I have to go to a program and acknowledge that I've failed again and am put on a performance management plan...which means I'll be out the door soon because I cannot seem to pass this high standard of 99.65. Have you filed bankruptcy before? How bad is it? I'm a single old lady with 2 years and 2 months to go before I can retire. I really don't want to retire early because I have no savings and planned on ...

Jul 27, 2011
We have been in chapter 13 for a year. Our payment keeps going up. However, I found some interesting information from the IRS for expense list that my lawyer did not include in our expenses and we have for expenses. Has anyone dealt with this? If so, what could you include in expenses? Did your lawyer include these expenses later? Sorry to sound stupid, but just trying to get some help. Believe me, we did not want to file but had no option. ...

Jun 03, 2016
Does anyone know if you can file bankruptcy on a judgement that has been taken out on you by a hospital? Working as an MT leaves NO money to be able to pay on a hospital bill and of course, $5.00 isn't an acceptable amount to send them. The "law firm" handling this (debt collection office bogus law firm) is a joke. Money from my county's property taxes goes to help support the hospital, but I make too much to qualify for their hospital authority assistance (but not enough to ...

Apr 13, 2015
I am a soon to be single mother with 2 kids. I can't do it anymore, I have to file bankrupcy. Just curious if you filed how much you had to pay back each month ...

Nov 22, 2016
I am looking at filing bankruptcy soon and am looking for any insight anyone can give me. I'm not sure I will even be able to file as I have no assets. I don't own a house or a car. I just have massive credit card dept. Years ago I made almost 70,000 a year. Now I'm barely making one-third of that. Most of my credit card dept is groceries, through over a year ago I purchased a washer and drier, and had a ramp put on the front of the house I live ...

Feb 06, 2015
My husband and I file 1040 (not enough deductions to itemize). This year we made $10,000 less than last year. However, our tax due was only $200 less than last year. I could not believe that a $10,000 reduction in come made such little difference in the amount of taxes we owe. I don't think we are considered middle class anymore. It is very expensive to be poor. I am not sure how accurate the figures are because I figured we are paying 13%, but I rea ...

Feb 13, 2012
ever done this? I want to do it myself so as not to have to pay an attorney because (as usual this makes no sense to me) if I cannot afford my bills, I sure cannot afford an attorney. Just wondering if anyone knows of a good site to look at for this info. Thanks! ...

Sep 03, 2011
http://newsbusters.org/blogs/noel-sheppard/2011/09/03/nbc-and-msnbc-completely-ignore-solyndra-bankruptcy-filing ...

Jun 28, 2011
I am finally to the point of having to consider bankruptcy, mainly for medical bills. There's quite a bit, having had two surgeries in the recent past in one year with no insurance. I am trying to decide if I should move from the rental home I am in first or move after I file. I am not sure whether you can rent at an apartment complex with a bankruptcy or whether I should try to find another rental home? Or should I just not file until I move? We need a bigger ...

Jul 19, 2013
Run by Democrats for how many years? ...

Sep 23, 2014
I asked for advice on here a few months back. I was terrified but soooo glad I went!! I think I am going to file chapter 7 alone. My husband owns property from an inheretence so we want to avoid that being taken. It is like a huge weight has been lifted off my shoulders. I will admit I was addicted to credit card use. Then I had an accident in 2011 and medical bills started piling up. It will be nice to start over and NOT be dependent on credit cards. I ...

Oct 18, 2009
It was obvious from the beginning that this was a publicity stunt. Not only should the Heene family be forced to repay the State of Colorado every penny spent on the "search and rescue" operation, but they should also be forced to repay the farmer whose wheat crop they destroyed. Finally, a dose of reality for the Heene family and all of those who believed their ridiculous lies. http://www.nytimes.com/2009/10/18/us/18balloon.html ...

Nov 12, 2013
WND EXCLUSIVE Criminal terror charges filed against Obama Alleges involvement with Muslim Brotherhood Published: 4 hours ago Jerome R. Corsi About | Email | Archive Jerome R. Corsi, a Harvard Ph.D., is a WND senior staff reporter. He has authored many books, including No. 1 N.Y. Times best-sellers "The Obama Nation" and "Unfit for Command." Corsi's latest book is the forthcoming "What Went Wrong?: The Inside Story of the GOP Debacle of 2012 … And How It Can Be Avoided Next Time." ...

Mar 20, 2010
I'm sure liberals will not be surprised that a conservative would be happy that ACORN is going under, but the reason will surprise them: I'm happy about the prospect of ACORN's demise because it will make room for better social aid organizations that operate with greater integrity. Anyone who believes that there are not still citizens of this country who need help in gaining access to basic services, who need help in navigating their way into the "main stream" of American soci ...

Aug 15, 2013
nm ...

Sep 23, 2010
He owes DH $2300, which is minor compared to others who are owed 5 figures, working without pay since last year. Why did they let it build up that high? The guy always paid on time until last year. Then it got sporadic. DH onlyl worked a couple days for him this year then stopped when he heard the guy wasn't paying. He put a claim in at Small Claim's Court last month and his hearing is on the 29th, but I doubt he will come home with a judgment to pay. He has to travel 100 ...

Nov 15, 2012
Subcommittee Investigation Reveals Decisions by Corzine Led to MF Global Bankruptcy and Missing Customer Funds Full report of Financial Services Oversight and Investigations Subcommittee to be released Thursday Washington, Nov 14 - Decisions by Jon Corzine to chart a radically different course for MF Global and try to turn the 230-year-old commodities broker into a full-service investment bank were the cause of the firm&r ...

Oct 19, 2014
NM ...

Jul 20, 2013
Here's how the Motor City got here, and where bankruptcy could take it MATTHEW O'BRIENJUL 19 2013, 6:05 PM ET 0in Share More Reuters After decades of decline, Detroit is broke. On Thursday, the Motor City filed for the largest municipal bankruptcy in U.S. history on its $18 billion of debt, and faces a future where only one thing is certain: lots of people are going to get much less money than they were promised. Now, I don't like to say th ...