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Tag Archives: bankruptcy

Josy Writes “My Real Estate Business Is Going Down The Drain”

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Josy “Dear Steve, I am in the Real Estate Business. We are also a General Contractor. We currently have close to 4 million dollars in property, but have 1 million dollars in debt. But with the curent economy situation, we have found ourselves in a rut. With little money to build and lots of property we know that if we ... Read More »

    Is Bankruptcy Right For Me?

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    Bankruptcy Basics Most people think of bankruptcy as a process in which you go to court and get your debts erased. It’s not that simple. In fact, there are two types of bankruptcy: the familiar liquidation bankruptcy, where your debts are wiped out (Chapter 7 bankruptcy) and “reorganization” bankruptcy, where you partially or fully repay your debts. The reorganization bankruptcy ... Read More »

      Debt Settlement Companies Draw Wrong Conclusion About Recent FICO Score Facts

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      In a press release by Morgan Drexen (Morgan Drexen Warns Consumers: If You Choose Bankruptcy You Could Face a Devastating 240 Point Decline in Your FICO Score) the debt settlement company draws the conclusion and states “Perhaps the difference between debt settlement and bankruptcy, when it comes to FICO scoring, is simply this: through debt settlement, the consumer is making ... Read More »

        I’m Disabled and Falling Into Debt But the Bankruptcy Lawyer Said Bankruptcy is Not for Me. – Dorothy

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        “Hi Steve, I am in a situation that I need good sound advice about. I am 39 years old and permanently disabled, having become so in 2002. I receive Social Security benefits monthly. I have a caregiver who permanently lives with and cares for me. His only income is from the state for providing my care. We both have unsecured ... Read More »

          How Do I File Bankruptcy When My Spouse Refuses to Cooperate. – Cole

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          “Dear Steve, I have a lot of debt built up from trying to save my house and lack of income when the real estate went sour ( I was a real estate agent). Needless to say, I spent more trying to keep my business going than my husband approved of and as a result put us in a world of ... Read More »

            I’m Already in a Bankruptcy and Can’t Afford My Payments. Will I Have to Give My Car Back? – Dawn

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            “Dear Steve, I filed a chapter 13 in 2007, while receiving Long term disability and child support. Since then my child support has stopped due to non payment. My payments have been decreased but I still can’t afford the payments, my income is only $1,133 a month. I have a 2005 Chevy equinox in good condition with 94,000 miles. My ... Read More »

              Should I Be Worried They Will Take My House? – Sarah

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              “Dear Steve, Divorced, accumulated at least $15000.00 in unsecured CC debt and owe on a car loan. I was recently laid off and cannot meet my bills. I stand to inherit the house I live in, and maybe 10,000. in cash. Should I apply for bankruptcy, I would want chapter 7 but am afraid they would take my house with ... Read More »

                I’m a Full Time Student That Had to File Bankruptcy. – Jimmy

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                Because of the volume of submitted questions, I am behind in personally answering every single one. I need your help. I am publishing the question below for you to answer. Please help this person by adding your response and advice in the comments section of the original question. Click here. “Dear Steve, I am 26 years old and a full ... Read More »

                  I’d Like My Farmer Father to Co-Sign for a Loan so I Can Get Out Of Debt. – Chris

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                  “Dear Steve, 36 years old. In the last 5 years I have had two extended periods of unemployment. I now make 37,000 a year in a good salaried job which I was hired full-time at 3 months ago. The previous 22 months I was either unemployed or making temp wages and built on my debt. Now I have a massive ... Read More »

                    Meet Paul: LendingClub.com Borrower Taking Control of Debt Influenced by His Bipolar Condition

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                    Since I heard about Lending Club, I have been fascinated with the concept and its potential to allow anybody help others with personal loans that will get them out of debt. I became a lender on Lending Club a couple of months ago and have since chipped into more than 40 loans already. I asked Lending Club if I could ... Read More »

                      My Ex-Husband Said He’d Pay My Student Loans in Our Divorce. But He’s Not. – Amanda

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                      “Dear Steve, My ex husband and I consolidated our student loans. I had $2,000 in loans, he had $97,000. We divorced in 2007. In the divorce, he got the student loans. I was held harmless (or some such term and released from them). Unfortunately, he is not paying them. He waits until the very last second to file for deferments ... Read More »

                        How Should I List My Past Due Taxes on My Chapter 13 Bankruptcy Filing? – David

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                        “Dear Steve, I live in California, I was married and my wife and I got into severe ($80,000+)debt and($50,000+) tax trouble. We filed for Chapter 13 in 2004 and erased the debt but left the taxes with the plan of filing Chapter 13. That never happened. We were separated then and finally got divorced in 2009. I remaried in 2009. ... Read More »

                          Learn What Encephalitis and Bankruptcy Have in Common, Christie – Get Out of Debt Podcast

                          Here is the latest Get Out of Debt show podcast. Do You Have a Question You Want to Ask? If you have a credit or debt question you’d like to ask call 919-321-2378. Leave your first name and question and I’m happy to help you totally for free. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? ... Read More »

                            We’ve Taken a Cut in Pay And Can’t Afford Our Chapter 13 Bankruptcy Payment. – Carrie

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                            Carrie “Dear Steve, My husband and I filed Chapter 13 bankruptcy in December of 2008. At the time of filing we made a combined total of $64,000 annually. Our total debt is $237,000 ($200,000 in student loans and $37,000 in credit card debt) and our trustee would not allow us to pay our student loans directly along with a smaller ... Read More »

                              Kevin in Roanoke, VA Talks About His Debt

                              Kevin and I met through Twitter and we made arrangements to meet up on my travels around the country. I’m @GetOutOfDebtGuy on Twitter. On August 1, 2009 I had the pleasure of meeting Kevin, sitting down in a local coffee shop and talk about his debt. He was kind enough to share what it was like for him in hopes ... Read More »

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