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Joined: Jan 2005
Posts: 1,593
Hard-core CEG\'er
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OP
Hard-core CEG\'er
Joined: Jan 2005
Posts: 1,593 |
Weird place I know. Anyone know much about it? Anyone ever file? What are the negatives?
I'm in MA. I think we are about to file 13, don't have much choice.
MUST SELL - ECM computer new for a 98 V6 mtx + pats
Now trolling in a Red Nissan 4 x 4
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Joined: Jun 2000
Posts: 3,496
Hard-core CEG\'er
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Hard-core CEG\'er
Joined: Jun 2000
Posts: 3,496 |
Unless it's for medical bills....... way to take responsibility  
Money doesn't always bring happiness. People with ten million dollars are no happier than people with nine million dollars ~ Hobart Brown
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Joined: Dec 2002
Posts: 1,506
Hard-core CEG\'er
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Hard-core CEG\'er
Joined: Dec 2002
Posts: 1,506 |
If you had done research on Chap 7s and Chap 13s a while back previously, I'd suggest researching these topics again as legislative changes were done around October 2005. I'm NOT a specialist in banko law/procedure now (but used to know a bunch before the changes). While banko filings create financial record baggage that will follow you around, getting creamed by judgment creditors and/or foreclosures if you do not file cannot be positive either.
MSDS, SHO-shop Y, custom 2.5" catback; xcal2; 63mm TB, K&N 3530; Koni struts, Aussie bar; THaines forks, Quaife, SpecII, UR fly; DMD; Nima UD pullies; Stazi brakes; f&r Pole120 mounts. Just a daily commuter car. Silver '98 SVT E0 #3159
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Joined: May 2001
Posts: 8,770
Smurfette
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Smurfette
Joined: May 2001
Posts: 8,770 |
Originally posted by Fmr12B:
Unless it's for medical bills....... way to take responsibility
maybe you're doing well in life, but some people aren't so lucky.
The guy lost his job and was out of work for a long time trying to get something to support his family.
Kim
1995 Contour GL
Needs less "needs more"
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Joined: Sep 2002
Posts: 6,106
Addicted CEG\'er
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Addicted CEG\'er
Joined: Sep 2002
Posts: 6,106 |
Originally posted by Ex-Mean'Tour:
Weird place I know. Anyone know much about it? Anyone ever file? What are the negatives?
I'm in MA. I think we are about to file 13, don't have much choice.
I would try and avoid, anyway you can. My Dad has filed twice. It seems like everyone that I know who files, or has filed, almost regrets making that decision. I used to work collections for a bank, and dealt with a lot of bankrupt customers. I can't imagine going to get a loan, and seeing 20%+ as an interest rate, and not being able to do anything about it for atleast 7 years. I know you aren't looking for financial advice, but is there anything you can eliminate from your normal, everyday routine, that can help you avoid bankruptcy? Car payments, large mortgage payments, high interest credit cards?
I guess, the thing I would like to see you avoid, is not learning anything from a bankruptcy, as I've seen way too often. Most people, I guess, use it as an easy way out, and get themselves right back into the same situation, just a few years later. Good luck with whatever you have to do, I know it's not easy!
Mark
2000 Black CSVT
3.0L Hybrid - 206fwhp & 195fwtq
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Joined: Oct 2003
Posts: 5,143
Addicted CEG\'er
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Addicted CEG\'er
Joined: Oct 2003
Posts: 5,143 |
Originally posted by Y2KSVT:
Originally posted by Ex-Mean'Tour:
Weird place I know. Anyone know much about it? Anyone ever file? What are the negatives?
I'm in MA. I think we are about to file 13, don't have much choice.
I would try and avoid, anyway you can. My Dad has filed twice. It seems like everyone that I know who files, or has filed, almost regrets making that decision. I used to work collections for a bank, and dealt with a lot of bankrupt customers. I can't imagine going to get a loan, and seeing 20%+ as an interest rate, and not being able to do anything about it for atleast 7 years. I know you aren't looking for financial advice, but is there anything you can eliminate from your normal, everyday routine, that can help you avoid bankruptcy? Car payments, large mortgage payments, high interest credit cards?
I guess, the thing I would like to see you avoid, is not learning anything from a bankruptcy, as I've seen way too often. Most people, I guess, use it as an easy way out, and get themselves right back into the same situation, just a few years later. Good luck with whatever you have to do, I know it's not easy!
Mark
See that doesnt make an sense, filing for bankruptcy means you have no money to pay the debts that you have... But when you get a loan to say buy a new car under bankruptcy... the interest rate is coniderably higher... For someone with no money? What?
98 Corolla LE 1.8L DOHC 1ZZFE
TEIN H.Tech Springs
Tokico HP series Struts
Short ram air intake
Tsudo Axel Back Exhaust
... if a jelly fish stung me.. would you pee on the wound?
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Joined: Aug 2002
Posts: 8,281
Captain Impound Boy
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Captain Impound Boy
Joined: Aug 2002
Posts: 8,281 |
Originally posted by Fmr12B:
Unless it's for medical bills....... way to take responsibility
Go Flamebait somewhere else!!! Don't you have so gay ass shoes to be buying?
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Joined: Jul 2000
Posts: 678
Veteran CEG\'er
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Veteran CEG\'er
Joined: Jul 2000
Posts: 678 |
I'm kind of an expert on bankruptcy. PM me if you have any questions. I can even get you some forms that will help you determine what Chapter to file & will give you a broad overview. In some circumstances, filing bankruptcy can actually improve your credit.
And screw the person who chides you for not taking personal responsibility without knowing anything abut your situation. Your primary responsibility is to your family.
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Joined: Jun 2000
Posts: 3,496
Hard-core CEG\'er
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Hard-core CEG\'er
Joined: Jun 2000
Posts: 3,496 |
Originally posted by 96RedSE5Sp:
And screw the person who chides you for not taking personal responsibility without knowing anything abut your situation. Your primary responsibility is to your family.
I understand medical bills as a legit resaon for bankruptcy. I do not understand purchasing items which you cannot afford. If you can't afford it outright don't buy it. Just because people offer you credit does not mean you have to use it to purchase items frivolously.
What ever happened to the old rules like saving 20% for your down-payment, eating tuna-noodle casserole instead of steak, or saving up to have a family?
Sorry folks, it comes down to personal responsibility and you not paying the bills you created shafts the rest of us.
Money doesn't always bring happiness. People with ten million dollars are no happier than people with nine million dollars ~ Hobart Brown
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Joined: Jun 2000
Posts: 5,854
Hard-core CEG'er
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Hard-core CEG'er
Joined: Jun 2000
Posts: 5,854 |
Maybe you missed the part where he lost his job? But either way you need to get over yourself and stfu. Clearly you have nothing constructive to offer except flamebait - And you're a mod
1999 Silver Frost SVT
#609 of 2760
Quaife, lightened SVT Flywheel, SPEC stage II clutch, removed resonator, k&n drop in - various other goodies too.
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