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Bankruptcy Related

I’m a Lawyer in Debt And Would Like Your Feedback. – Don

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“Dear Steve, At my wits end: have about $30K in unsecured debt some of which are currently in suit. Have approx. $150K in Student Loans (Law School — I know). Own a vehicle approx. value of $12K which was purchased from proceeds of life insurance policy from wifes – fathers passing. Still paying on another vehicle and possibly upside down ... Read More »

    75% of Consumer Bankruptcy Cases are Chapter 7 in March, 2010.

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    New data just out shows the number of consumer bankruptcies is rapidly increasing and more consumers are able to seek protection under Chapter 7 bankruptcy to discharge all of their debt. Aacer is reporting that there were 158,141 filings in March, higher than any other month since the bankruptcy reform changes of 2005. In fact the number of filings is ... Read More »

      Am I Eligible to File Chapter 7 Bankruptcy Again? – Jan

      “Dear Steve, We are a Texas family of 4 with approximately $40,000 plus in credit card debt. We had a chapter 7 bankruptcy discharged in Dec. 2002. We have steady jobs making around $68000 per year combined. We have a $600 mortage with 20 years left to pay. Two high school children with college in the near future. We owe ... Read More »

        Do I Qualify for Bankruptcy? – Oscar

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        “Dear Steve, I’m 28years old. 11,000.00 in debt. I’m constantly being harassed by crediters and am being sued by one of them and I don’t make enough to pay them all.I have tried debt consolidation but i got fired and was unemployed for 3 months now I’m trying to play catch up with all my bills but can’t seem to ... Read More »

          We Have Not Been Getting a Lot of Sleep Recently While We Worry About Our Debt. – KL

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          “Dear Steve, Steve, my husband and I are not getting a lot of sleep lately and we very much related to your story. Thank you. Our situation is my husband is in the real estate business and his income has drastically been reduced. We bought and sold a lot of real estate investment properties and did well when things were ... Read More »

            I Was Able to Negotiate a Debt Settlement With Discover I Can’t Afford. – Frances

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            “Dear Steve, I have credit card debt with Discover. I tried to negotiate with them. Debt is $5k due to interest rate and late payment. I would like to settle, but I cannot afford to pay a lump sum of $3600. This is a huge learning lesson. I was told I cannot file for bankruptcy. I asked the cc company ... Read More »

              Do I Need Good Credit to Get a Top Secret Clearance? Can I Get a Security Clearance if I Go Bankrupt? – Alex

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              “Dear Steve, Hello Steve. I appreciate the advice that you provide us with (=: I’m 27 years old, naturalized citizen (born in Russia). Currently in the Army National Guard (Intelligence). My chain of command hasn’t filed clearance paperwork yet because they’re waiting for me to resolve my $25000 unsecured credit card debt (including 1 personal loan). I’ve accumulated this debt ... Read More »

                We Are So Stressed. How Do We Get Out From Under This Mountain of Debt? – Mary

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                “Dear Steve, My husband and I are in deep financial crisis right now. We renewed our flat recently but we still have an outstanding balance of $2500. Then I haven’t paid my credit cards for the past couple of months which now amounted to around $15000. I still have another outstanding loan where the collection company wanted me to pay ... Read More »

                  Can I File Chapter 13 Bankruptcy Again? – Maria

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                  “Dear Steve, I filed chapter 13 two years ago but stopped making my payments. My case was dismissed after I failed to make the payments to the trustee. I want to file again but my debts were given to a collection agency. Can I still file chapter 13 Maria” Dear Maria, Yes, you should have no problems filing as long ... Read More »

                    Is the Debt Relief Program By Dr. Robert Manning and Hope Financial USA, Legit? – Vicki

                    “Dear Steve, I am very in debt, a little under $40K. I was out of work last year for over 6 months. I purchased my town home in 10/08 for 163K, at 6.9%. I refinanced May09 at 5% but I had to roll in the finance charges (getting back my escrow to help living expenses) and my new mortgage is ... Read More »

                      Can I Keep Some of My Credit Cards Out of Bankruptcy? – Jessy

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                      “Dear Steve, I have about $50k consumer debt spanned over 3 credit cards; As per a previous advice from you – as a response to a detailed email of my situation – I am very strongly considering bankruptcy and already contacted an attorney and started collecting the forms (tax return, bills etc) I would need. My question is this: the ... Read More »

                        How Will Chapter 13 Bankruptcy Help Us if We Can’t Afford the Payment? – Michele

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                        “Dear Steve, We have equity in our home, more then what is owed in unsecured debt. We are considering filing Chapter 13 bankruptcy but can not aford the estimated trustee payment of $2700. If we file we will be unable to pay our monthly expenses and the trustee, combined are near $8700. The debt is 160,000 and the equity is ... Read More »

                          Can They Come After My Husband for My Debt in My Name? – Lauri

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                          “Dear Steve, i have significant credit card debt and only make $100/wk as a part-time employee. My husband just lost his job, he has been the primary source of income for our family for the past eight years; his income ranged from 75-100K/year. All the credit cards are in MY NAME only. The house we live in is in my ... Read More »

                            I’m Scared the Bankruptcy Trustee Won’t Let My Bankruptcy Go Through. – Lynn

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                            “Dear Steve, Steve, I am almost at the sixty day point in my bankruptcy. I am worried it won’t result in a discharge. I qualified for a chapter 7, but the trustee was harsh with me, I think because I got here because of poor choices. I am so sorry I messed up my life it hurts bad. I call ... Read More »

                              Suze Orman Suggested I Contact Advantage CCS. – Justine

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                              “Dear Steve, I am married 20 years with 2 teenage children.We have always lived paycheck-to-paycheck. We have never had a savings account with an “emergency fund”.Our income was cut in half when my husband was forced to take an unpaid leave of absence from work from the end of June to mid September then lost his job all together from ... Read More »

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