car redemption (722 redemtion.com)

[OhioFiler]

Yeah, and you'll need that $3k for an attorney once you get caught lying to the bankruptcy court.

Unfortunately, it is people like debtmonster who perpeptuate the stereotype that bk filers are cheating the system.

If I were a mod I'd find a way to keep his fraud suggestions and brags off the forums.

[debtmonster]

Not really lying. There's no money being deposited in my account. When you are self-employed, you have different options with your money than when you work W2.

I do a mail order business. If I want more money, I simply do a large mail drop. If I want to throttle my income down, I simply spend more money on advertising. When working W2, you can't throttle your income for anything. It is what it is. So there's no lying in any court room. It's just a constructive way of structuring a bankruptcy, that's all.

[debtmonster]

Unfortunately, it is people like debtmonster who perpeptuate the stereotype that bk filers are cheating the system.

If I were a mod I'd find a way to keep his fraud suggestions and brags off the forums.

I don't appreciate you making threats. I never did anything to you and nobody is cheating anybody. I can only brag that I am not working W2 like 99% of the people out there. You chose to "work for the man". You reap what you sow.

[LuciluS]

I will i currently have a 99 sable that has been on her LASSSSSSSSSST LEG for sometime, but with filling bankruptcy I just figured that I would cont. to just have "this and that" fixed as I could. Until I heard about this.

You know the ole saying ' It doesn't hurt, until your Try'. They know you are/will be going through Bankruptcy. So one more hard pull on your Credit Report is not going to hurt as your Credit Report is/was already Trashed. So what do you have to lose by trading in a 99 Sable and getting a new model vehicle IF the interest and payments are not out of your price range.

Luci

[debtmonster]

You know the ole saying ' It doesn't hurt, until your Try'. They know you are/will be going through Bankruptcy. So one more hard pull on your Credit Report is not going to hurt as your Credit Report is/was already Trashed. So what do you have to lose by trading in a 99 Sable and getting a new model vehicle IF the interest and payments are not out of your price range.

Luci

It all needs to be offset with huge down payments. That's the only way I will be able to afford high interest payments on a car.

I remember my first brand new car when I had no credit. I was paying 17% interest and my payments were only $214/mo. for 60 months. I put $1,000 down.

So that's the trick. Try to finance less than $10,000 for affordable payments.

The dealers always tell me that the payments are roughly $20 for every $1,000 that you borrow.

So $3,000 down = $60/mo. in a lower payment. $5,000 down = $100 in a lower payment. That's why I want to put at least $10,000 down to get $200 lower. Then instead of a $400-500/mo. payment, I can do a $200-300/mo. payment.

I guess we will wait until we get to that bridge before we cross it. I guess the big thing now will to test this lawyer and see if I can truly drive a car for 6 months without paying... (which I've been doing with my SUV.) The bank called here today (and blocked Caller ID) and the guy reamed me out. I hung up on him and 2 minutes later he called me back and left a nasty voice mail. I wish I had a Viatalk.com phone. Then I could block all "unknown" or blocked phone #'s and give them a fake disconnect tone.

[fyi2]

gee it would have been great to have any kind of savings but I am at ROCK BOTTOM- no money- non zip- BK was the last thing possible to take care of debt but it still didn't help with money - i don't have more money now - i just don't (hopefully) have the worry of wage garnishment

hopefully i can get my car down to KBB that would be the only help to me now

[debtmonster]

If you have money for wage garnishment, then why can't you stop paying all bills and use that money to pay for a new car? Just keep the car you have for as long as possible until you are ordered to give it back. That's what I am doing. If I can have a vehicle for 6 to 12 months without a payment, I will have a nice sum of money for a new or slightly used car.

I saw a ton of used cars on AutoTrader today with under 15,000 miles and many way under $10,000. If I were really desperate, I'd have no problem buying one of these cars, even though my wife won't stop nagging me for another BMW. She gets all pissed off when I keep showing her Kia's and Hyundai's.

[fyi2]

I don't have money for wage garnishment, that is why i am in BK

we are the real deal- I do know we are not as bad off as some but we barely make our expenses of food and insurance and barely car payment haven't paid mortgage in 3 months and still don't have extra

we are going to be in BIG trouble if something doesn't change before our house forcloses and they give us the boot!

if i cant 722 then I will save the payment until they take the car and hopfully will have at least 1 or 2 months of payments

but we certaintly cannot save otherwise!

[debtmonster]

How much do you gross and net after taxes so we can get a better understanding? Are you netting like $1,000/mo. after your employer taxes out taxes?

[OhioFiler]

I don't appreciate you making threats. I never did anything to you and nobody is cheating anybody. I can only brag that I am not working W2 like 99% of the people out there. You chose to "work for the man". You reap what you sow.

Hey cupcake, those weren't threats.

I may "work for the man" but I won't invest my entire future in a "man" who claims, without any substantiation, I will be able to keep my car without paying for it for up to 3 years.

[OhioFiler]

I saw a ton of used cars on AutoTrader today with under 15,000 miles and many way under $10,000. If I were really desperate, I'd have no problem buying one of these cars, even though my wife won't stop nagging me for another BMW. She gets all pissed off when I keep showing her Kia's and Hyundai's.

I thought you were going to get her a Mercedes Benz....Smart Car!

[debtmonster]

Hey cupcake, those weren't threats.

I may "work for the man" but I won't invest my entire future in a "man" who claims, without any substantiation, I will be able to keep my car without paying for it for up to 3 years.

He didn't say "I" would be able to drive and not pay it for up to 3 years. He said one of his other clients did. When I inquired on myself, he estimated 6 to 8 months from the time I was filed (or longer). He said he would fight them for as long as he could.

Stop working for the man and be self-employed. You offend me by not being an entrepreneur. Stop offending me.

Thanks.

[debtmonster]

I thought you were going to get her a Mercedes Benz....Smart Car!

That's the plan... but not "her" plan. My plan is all about getting a cheap, brand new, German car that is super cheap to maintain (and this car is the absolute CHEAPEST.) I don't bring cars to dealers or quick lubes to maintain the car. I do it all myself. I can drive up to 50,000 miles or 2 years on only 7 bottles of oil and 2 filters for this car. How much cheaper do you want it?

I would love to get a BMW (even a used one), but down here, you never know if the car has been wrecked, even if it has a clean car fax. I just don't trust used cars. I don't mind buying one if it's only a few grand... but not when I am going to spend over $10,000. If I know the original owner in person, that's one thing. I am just real particular.

And if you've seen the many small and cramped parking spaces I see down here, a smart car makes all the sense in the world. Any BMW, Benz, Honda, etc. would get nothing but door dings parking down here.

[OhioFiler]

He didn't say "I" would be able to drive and not pay it for up to 3 years. He said one of his other clients did. When I inquired on myself, he estimated 6 to 7 months from the time I was filed.

Stop working for the man and be self-employed. You offend me by not being an entrepreneur. Stop offending me.

Thanks.

I am an entrepreneur as well as a "worker for the man". I got the best of both worlds! Sorry I offend you. Do I get a medal?

[debtmonster]

I am an entrepreneur as well as a "worker for the man". I got the best of both worlds! Sorry I offend you. Do I get a medal?

No, just keep working 1099 and file your Schedule C's and have tons of write-off's that you would not normally get working W2.