Comments on: Is Bankruptcy Right For Me? http://getoutofdebt.org/14745/is-bankruptcy-right-for-me Free debt help and debt advice on how to get out of debt, getting out of debt consolidation scams, and inside information on the debt relief and debt help industry. Fri, 25 May 2012 02:12:00 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Steve Rhode http://getoutofdebt.org/14745/is-bankruptcy-right-for-me#comment-97380 Steve Rhode Tue, 22 May 2012 16:08:00 +0000 http://getoutofdebt.org/?p=14745#comment-97380 Let's start with the basics. I'd suggest you first read <a href="http://getoutofdebt.org/24629/the-honest-and-unvarnished-truth-about-how-to-get-out-of-debt" rel="nofollow">How to Get Out of Debt. The Honest and Unvarnished Truth</a> and <a href="http://getoutofdebt.org/7233/the-truth-about-the-failure-rates-and-completion-rates-of-credit-counseling-debt-settlement-and-bankruptcy" rel="nofollow">The Truth About The Success Rates, Failure Rates and Completion Rates of Credit Counseling, Debt Settlement, and Bankruptcy</a>. They will give you a great overview of what we need to deal with to get you moving in the right direction. Then use the free <a href="http://getoutofdebt.org/resource/the-amazing-how-to-get-out-of-debt-calculator" title="How to Get Out of Debt Calculator" rel="nofollow">How to Get Out of Debt Calculator</a> to review your options. After that, come back here and comment about what seems to make the most sense and let's discuss that. Does that sound like a reasonable approach? Steve Let’s start with the basics.

I’d suggest you first read How to Get Out of Debt. The Honest and Unvarnished Truth and The Truth About The Success Rates, Failure Rates and Completion Rates of Credit Counseling, Debt Settlement, and Bankruptcy. They will give you a great overview of what we need to deal with to get you moving in the right direction.

Then use the free How to Get Out of Debt Calculator to review your options.

After that, come back here and comment about what seems to make the most sense and let’s discuss that.

Does that sound like a reasonable approach?

Steve

]]> By: Vivian76087 http://getoutofdebt.org/14745/is-bankruptcy-right-for-me#comment-97373 Vivian76087 Tue, 22 May 2012 14:39:00 +0000 http://getoutofdebt.org/?p=14745#comment-97373 I'm 63yrs old with twin daughters age 17yrs they graduate this month and start college in August. I'm 22,000 in debt (not credit cards just personal loans and a car) and only get 1016 per month from social security. Is chapter 7 a choice for me.  I have two cars, but one will be going with my daughters to college in August. Since they are 17 it is in my name for now.  Also I do not own any real estate property, nor have any other assets. I’m 63yrs old with twin daughters age 17yrs they graduate this month and start college in August. I’m 22,000 in debt (not credit cards just personal loans and a car) and only get 1016 per month from social security. Is chapter 7 a choice for me.  I have two cars, but one will be going with my daughters to college in August. Since they are 17 it is in my name for now.  Also I do not own any real estate property, nor have any other assets.

]]> By: Lyndz0287 http://getoutofdebt.org/14745/is-bankruptcy-right-for-me#comment-97157 Lyndz0287 Wed, 16 May 2012 00:59:00 +0000 http://getoutofdebt.org/?p=14745#comment-97157 I have a few credit cards with low pay offs on my credit report and about $15,000-20,000 in medical bills that I owe. I do not own a home or property and my car is in my Mom's name. Is Chapter 7 a good decision for me? I have a few credit cards with low pay offs on my credit report and about $15,000-20,000 in medical bills that I owe. I do not own a home or property and my car is in my Mom’s name. Is Chapter 7 a good decision for me?

]]> By: floridamommy http://getoutofdebt.org/14745/is-bankruptcy-right-for-me#comment-89350 floridamommy Thu, 08 Sep 2011 18:50:00 +0000 http://getoutofdebt.org/?p=14745#comment-89350 I've never heard of this about student loans. "Student loans that first became due fewer than seven years ago" I thought that all student loans were non-dischargeable . We just filed for Chapter 7 and were under the impression that all students loans were untouchable. I graduated in 1999 my loan payments began 6 months later... would my loans be dischargable then? I’ve never heard of this about student loans.
“Student loans that first became due fewer than seven years ago”
I thought that all student loans were non-dischargeable . We just filed for Chapter 7 and were under the impression that all students loans were untouchable. I graduated in 1999 my loan payments began 6 months later… would my loans be dischargable then?

]]> By: Steve Rhode http://getoutofdebt.org/14745/is-bankruptcy-right-for-me#comment-35547 Steve Rhode Thu, 16 Jun 2011 14:36:05 +0000 http://getoutofdebt.org/?p=14745#comment-35547 Please submit your question to our resident bankruptcy attorney, who happens to be in Florida, and he can advise you. <a href="http://getoutofdebt.org/free-bankruptcy-help-ask-a-bankruptcy-lawyer-your-question" rel="nofollow">Click here</a>. Please submit your question to our resident bankruptcy attorney, who happens to be in Florida, and he can advise you. Click here.

]]> By: Steve Rhode http://getoutofdebt.org/14745/is-bankruptcy-right-for-me#comment-87510 Steve Rhode Thu, 16 Jun 2011 14:36:00 +0000 http://getoutofdebt.org/?p=14745#comment-87510 Please submit your question to our resident bankruptcy attorney, who happens to be in Florida, and he can advise you. <a href="http://getoutofdebt.org/free-bankruptcy-help-ask-a-bankruptcy-lawyer-your-question">Click here</a>. Please submit your question to our resident bankruptcy attorney, who happens to be in Florida, and he can advise you. Click here.

]]> By: Ednmel http://getoutofdebt.org/14745/is-bankruptcy-right-for-me#comment-35543 Ednmel Thu, 16 Jun 2011 14:18:46 +0000 http://getoutofdebt.org/?p=14745#comment-35543 Can I just file a chapter 7 and then, go into foreclosure because it is a Bad Business Decision, basically to continue doing what I am doing, now.  I have $163,000 first mortgage and a $22,000 second mortgage with $3000 medical bills about $13000 credit card bills and I owe a family member $5000.  My home here in Florida is currently worth $99200.  I feel like just walking away would be the only way to come out from under this debt.  What are our options? Can I just file a chapter 7 and then, go into foreclosure because it is a Bad Business Decision, basically to continue doing what I am doing, now.  I have $163,000 first mortgage and a $22,000 second mortgage with $3000 medical bills about $13000 credit card bills and I owe a family member $5000.  My home here in Florida is currently worth $99200.  I feel like just walking away would be the only way to come out from under this debt.  What are our options?

]]> By: Ednmel http://getoutofdebt.org/14745/is-bankruptcy-right-for-me#comment-87506 Ednmel Thu, 16 Jun 2011 14:18:00 +0000 http://getoutofdebt.org/?p=14745#comment-87506 Can I just file a chapter 7 and then, go into foreclosure because it is a Bad Business Decision, basically to continue doing what I am doing, now.  I have $163,000 first mortgage and a $22,000 second mortgage with $3000 medical bills about $13000 credit card bills and I owe a family member $5000.  My home here in Florida is currently worth $99200.  I feel like just walking away would be the only way to come out from under this debt.  What are our options?  Can I just file a chapter 7 and then, go into foreclosure because it is a Bad Business Decision, basically to continue doing what I am doing, now.  I have $163,000 first mortgage and a $22,000 second mortgage with $3000 medical bills about $13000 credit card bills and I owe a family member $5000.  My home here in Florida is currently worth $99200.  I feel like just walking away would be the only way to come out from under this debt.  What are our options? 

]]> By: Steve Rhode http://getoutofdebt.org/14745/is-bankruptcy-right-for-me#comment-27024 Steve Rhode Fri, 08 Oct 2010 17:15:33 +0000 http://getoutofdebt.org/?p=14745#comment-27024 It certainly sounds like a reasonable solution to at least explore. It certainly sounds like a reasonable solution to at least explore.

]]> By: Steve Rhode http://getoutofdebt.org/14745/is-bankruptcy-right-for-me#comment-79349 Steve Rhode Fri, 08 Oct 2010 17:15:00 +0000 http://getoutofdebt.org/?p=14745#comment-79349 It certainly sounds like a reasonable solution to at least explore. It certainly sounds like a reasonable solution to at least explore.

]]> By: Saglik87 http://getoutofdebt.org/14745/is-bankruptcy-right-for-me#comment-27019 Saglik87 Fri, 08 Oct 2010 11:47:18 +0000 http://getoutofdebt.org/?p=14745#comment-27019 I just opened a cart bussiness in a mall I am selling toys. I spent all my money for that bussiness, and I owe arround 5.000 dollars to my credit cards. I also have a lease agreement for 5 months and total rent is 16.000$ It seems like I will not be able to pay for rent because I am not making more than 100$ a day. some times 0$. Should I file bankruptcy 7 in order to get rid of the lease agreement and my debts?<br>Thanks I just opened a cart bussiness in a mall I am selling toys. I spent all my money for that bussiness, and I owe arround 5.000 dollars to my credit cards. I also have a lease agreement for 5 months and total rent is 16.000$ It seems like I will not be able to pay for rent because I am not making more than 100$ a day. some times 0$. Should I file bankruptcy 7 in order to get rid of the lease agreement and my debts?
Thanks

]]> By: Saglik87 http://getoutofdebt.org/14745/is-bankruptcy-right-for-me#comment-79344 Saglik87 Fri, 08 Oct 2010 11:47:00 +0000 http://getoutofdebt.org/?p=14745#comment-79344 I just opened a cart bussiness in a mall I am selling toys. I spent all my money for that bussiness, and I owe arround 5.000 dollars to my credit cards. I also have a lease agreement for 5 months and total rent is 16.000$ It seems like I will not be able to pay for rent because I am not making more than 100$ a day. some times 0$. Should I file bankruptcy 7 in order to get rid of the lease agreement and my debts? Thanks I just opened a cart bussiness in a mall I am selling toys. I spent all my money for that bussiness, and I owe arround 5.000 dollars to my credit cards. I also have a lease agreement for 5 months and total rent is 16.000$ It seems like I will not be able to pay for rent because I am not making more than 100$ a day. some times 0$. Should I file bankruptcy 7 in order to get rid of the lease agreement and my debts?
Thanks

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