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Bankruptcy Related

My Wife and I Are Legally Separated. She Was Served With Court Papers for a Debt. – Ron

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“Dear Steve, My wife and I are legally married with 2 kids, but have been seperated for 3 1/2 years. Last week, she was served with court papers for one of our credit card debts. We have a few cards that have all gone to collections.(around $15,000) Here’s the problem. She and I are both unemployed, we have no money ... Read More »

I Want to Make Sure I’m Not Hiding Assets in My Bankruptcy.

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“Dear Steve, I am current on all bills (and have been) but one. I have not paid them for almost two years (my mortgage) and they have not gone to sheriff sale yet. I owe (they say) almost $500,000.00 on the mortgage. I have no assets currently but am negotiating a worker comp settlement. I have been told by different ... Read More »

Should We Let Our Home Go and Start Over? – Jon

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“Dear Steve, Primary residence in Calif. inital loan 150K in 90. refinanced 2 times now owe 300K. Also have helock for 73K and pool loan for 52K. Home was worth 525K in 08, but now worth 195-225K. Very upside down. wife is self employed and i teach. business has really dropped off and payments are a problem, plus reitrement is ... Read More »

I Want to Throw Away My Retirement to Settle My Debt. – Curtis

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“Dear Steve, Lost job and had business fail, filed Chap13 but not had hearing yet, wondering if settlement would be better/quicker route. Approx $130k unsecured debt. If settled for 50%) could borrow $50k from 401k, then use $15k bonus from next year to total $65k. Would clear creditors with 2 years. Not concerned with credit rating, nor phone calls from ... Read More »

Will My Bankruptcy Attorney Charge Me for Dealing With Court Papers? – Anna

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“Dear Steve, I am planning to see a bankruptcy attorney, but I have a few questions. I received court papers and I have a certain amount of days to respond. Will a bankruptcy attorney charge me separately for each? (filing for bankruptcy and the court papers) Also, what do you think about the legal aid society and bankruptcy? Thank You ... Read More »

I Refuse to Pay For Something I Can’t Afford. – Steven

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“Dear Steve, I owe 25K, am working a low-paying temp job, I’m 27 years old, hopeless. I owe (or owed) a total of $25,000 (probably more now, due to escalating interest rates) between two credit card companies, Capital One and Chase. I absolutely do not have the funds to pay it off. I had to stop making minimum payments last ... Read More »

We Need Some Answers About Our Chapter 13 Bankruptcy. – Ross

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“Dear Steve, My wife initially filed Chapter 13 in 2004 after she was laid off from her job. She made payments on time for 2yrs until she was laid off again in 2006. After 6 months passed she did not have a job and we could not afford the payments and eventually her case was dismissed due to non-payment. Fortunately ... Read More »

I’m Divorced and Don’t Know if I Qualify for Bankruptcy. – Betty

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“Dear Steve, I was sent a summons from Capitol One. Suing me for a $1000 cc balance. Divorced in 2007, custody of 3 young children. I am on a limited income of spousal support, child support, and a small amount of disability benefits. I paid on cc’s awhile until I couldn’t anymore. ex husband was supposed to pay half and ... Read More »

Which is Worse, Bankruptcy or a Write Off? – Jenny

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“Dear Steve, Bankruptcy or Writeoff? When it comes down to it which is worse? Is a debt write off from a company as bad as a bankruptcy? I have some funds coming soon and I was going to settle with them, but they tell me the debt is about to be written off. My question is do I let it ... Read More »

Should I Change My Chapter 13 Bankruptcy to a Chapter 7 Bankruptcy? – George

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“Dear Steve, hi my name is George and i’m in a real bad situation I filed a Chapter 13 3 years ago to try and save my home only to eventually lose it and I tried to keep things going after me and my wife moved out so I took a couple of payday loans out well it has spiraled ... Read More »

What is the Name of the Government Program That Eliminates All Credit Card Debt for Free? – Johnathn

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“Dear Steve, 35,000 in debt to credit cards, and barely able to pay the minimum payment each month after paying all other bills. Credit cards are often used to supplement income, and there is no end in sight to pay these cards off. Is there a legitimate Government program or a program that does not ask for up front fees ... Read More »

I Invested in My Business Using My Personal Credit Cards. – Peggy

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“Dear Steve, Invested in my business using personal credit cards. Business no longer viable and have no income to continue paying down the credit card balances. Have been put on a hardship program…5yr, reduced payments, simple interest. Balances are reducing quicker but with no income, I cannot continue paying them. Applied for jobs, with no luck so far. Really stressing ... Read More »

I Work for a Non-Profit and Provide Financial Education. – Talena

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“Dear Steve, I work for a non profit company and provide financial education. I have come to a conclusion on bankruptcy and I wanted your opinion. I have a client who fell sick three years ago, and her credit report shows this. All her bills were not payed all in the same month and year. In California, the statue of ... Read More »

Do It Yourself, DIY, Bankruptcy. – Ron

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“Dear Steve, I had contacted you awhile back regarding my former wife’s economic circumstances and you recommended I contact a bankruptcy attorney which we did. I must say I was a bit disenchanted with the experience. I didn’t get the feeling he wanted to answer many questions after he qualified her as a bankruptcy candidate. While he did say that ... Read More »

Bank of America Won’t Help Me At All. – Donna

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“Dear Steve, I lost my job in July 2009. Just moved to SC, 3yrs. ago. I bought home which of course the value has dropped. I now have credit card debt of $14,000. I am only getting unemployment which does not pay the bills. My family has been helping, but it is not fair to them to continue to do ... Read More »

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