I recently went from a 6 figure income 2 making $13 an hour and filing for BK. I can no longer make the agreed upon monthly payments of $420 a month to the trustee and the BK laws have changed since I filed. My attorney wants $800 to see If I can convert. What happens If i just dont pay the credit card companies? My credit is going to suck forever anyways right?

I hear that usually the lenders do not allow any renegotiation for a lower amount (other than the interest). And you cannot file bankruptcy due to the laws regarding student loans. Is there any other way out? Thanks to all who has any suggestions.

Hello guys. Unfortunately, due to a failed business, I have no choice but to file for bankruptcy. My question is…I heard in order to file for a Chapter 7 bankrutpcy, that you must pass a means test to see if you qualify. I heard that they look at the last 6 months of your income to see if you quality. My question is…”Is that 6 months of income from the time you file for BK or 6 months of income at the time that you do the “Meeting of the Creditors?” I don’t obviously have income now because of the failed business but am looking for a job in order to live. Also, does the judge take into consideration that I am filing for BK due to a failed business and not because I bought all these luxury items? For anyone that has info on the new BK laws, I would greatly appreciate it. Thank you

A person in another state has declared bankruptcy, They used one of my US Bank account numbers on accident. US Bank couldn’t contact me, (by law) to tell that the auto w/drawl was put to a stop.. I now have really bad credit. All of the other card companies keep shutting my lines down.. I own a company and use the lines during slow times ..Well, I used to. They lower the limits, which makes me look even more maxed out. I am in a downward spiral.. I feel like I should just declare BK, and start all over. My credit is toast anyways right ??

Does anyone think the changes in the bankruptcy law that Obama has proposed are good ideas?

http://www.ajc.com/arts/content/metro/cobb/stories/2008/07/08/cobbobama_0708.html

http://www.thestreet.com/s/could-obama-plan-ease-bankruptcys-sting/funds/life-lessons-one-zero-one/10425151.html?puc=googlefi&cm_ven=GOOGLEFI&cm_cat=FREE&cm_ite=NA

No one wants to talk issues? Typical.

after claiming bankcruptcy can someone take you to court for money give with no contract to pay back to pay for atterney fees?

can someone tell me about the new changes in bankruptsy?

things i need to know:
1- do i have to disclose my husbands income if i’m only one looking to declare bankruptsy?

2- what will i have to disclose?

3- will i have to repay everything? (Some bills are 5+ years old)

4- how is the new bankruptsy laws different from before?

I’ll be moving to Virginia in 2 months. i wasn’t able to declare bankruptcy before because we’ve been living overseas for past 2 1/2 years. when we move to Virginia, i won’t have a job.

Any information would be extremely helpful.

Thank you and best answer gets the points.

that there were going to be be huge credit problems soon? (like now?)

and then ended up with A LOT of medical debt. We filed a Chapter 13, in which we were both making payments directly out of our paychecks, but then he was laid off from his job and we ended up losing the car because we could not afford to make the payments towards the bankruptcy out of his unemployment checks. He was out of work for several months. This was back in 2002. We are still struggling. Even MORE medical debt, funeral expenses for a baby girl we lost last year, medical bills from the premature birth of our son 3 years ago, surgeries, etc. Now just last week we found out that my mother in law has cancer. She owns a duplex (She lives in one side and we rent the other from her). We want to do a lease option, but we know that we would not qualify for a loan in 2 years when the lease agreement would be up. If we were to file for a chapter 7 now and go through the 6 months of financial counseling (New laws) would we be able to qualify for a loan on what the balance was.
I believe she owes well over $300,000 on the property because they took out a 2nd mortgage when my father in law was still alive. We would LOVE to buy this from her, but our current financial situation prevents us from doing so outright.
I wasn’t asking about a car. I was asking how to go about doing a lease option on the home. I do have a used car that I bought for $400.

The bankruptcy rules have changed to make it harder to file. I’ve been thinking a lot, that if my current illness gets any worse, I may not be able to work or will have to take a leave from work. If that is the case, I will loose most of my income. I will not be able to pay my bills. My debt is high. If this happened, my debt would be more than my income, would I be able to file for bankruptcy?

I’m not sure I will have to do this, but if I had to, could I?

I live in Florida. Are the laws for bankruptcy different here?