What happens if you DON'T file for bankrupcy?

[Flamingo]

It would clear in 7 years if you filed Chapter 13, 10 years if you filed Chapter 7, and 7 or more years if you don't pay at all but they can reage the debt during that time and you are also subject to judgments and in NC they can grab your state income tax refunds. Also you will probably be blacklisted permanently as to your creditors and not be able to get any kind of credit with them or associated financial networks again. While it may eventually go off credit reports (you will have a heck of a time clearning them up after 7 years), that information is permanently on the creditors records and easily called up if you ever apply there again for credit or even a job.

[drowning123]

Tobee, speaking of judgements. Assuming I get my discharge on November 23, what should I do with this one judgment I have against me? Should I file a motion to vacate?

[tobee43]

Tobee, speaking of judgements. Assuming I get my discharge on November 23, what should I do with this one judgment I have against me? Should I file a motion to vacate?

yes...after the discharge have your atty file the motion to vacate the judgment....it will cost you ...although i heard some atty's do not charge...FAT chance in the ny metro area they charge you for glass of city sewer water!!!

don't do it yourself...it's simply not worth the possible mistakes that could happen. this way the firm has to see it through for you. once submitted it takes a few weeks to a month and your get an signed order from the court which you will keep and also SCAN into your computer along with your discharge and other docs...OK....since there will be times and i promise in the further that someone may want a copy of those paperworks...

and YOU will be getting discharged ....it would nice if it was nov 23.....it's are grandson's birthday that day!!

[merime]

Gosh those last comments were helpful. No I earn the $710 a month working in a daycare. Maybe I should let Citi know that> Yes,it is impossible to save for the bankrupcy for me. THANK YOU

[beachchick]

A judgment is far worse than bankruptcy, it never goes away, with a bankruptcy you start over with a fresh slate, no bad debt to chase you around for the rest of your life, read Bankruptcy, How To Survive and Prosper, it talks about this very thing, you can get it at Amazon.com

[tobee43]

A judgment is far worse than bankruptcy, it never goes away, with a bankruptcy you start over with a fresh slate, no bad debt to chase you around for the rest of your life, read Bankruptcy, How To Survive and Prosper, it talks about this very thing, you can get it at Amazon.com

well it depends on what kind and where and when....

some states some types of judgments are good for 20 years....some forever and some for only 7 years. so it does vary....however, once you file and have a discharge many types are removable by filing a motion to vacate the judgment.

[merime]

I don't know though. My husband makes $84,000 , but none of the debt is his. Also, I am completly responsible for the children and household things. I just dont want to sink $500 into a retainers fee only to find out I do not qualify.We truly are married in name only, and if needed I would gladly file separation papers. The only reason I have not is because I am an only child, no relatives and need a roof over our heads. Thanks for the support.

[Pandora]

I just dont want to sink $500 into a retainers fee only to find out I do not qualify.

Until you make a decision on this and then commit to it - no one can help you. Its up to you on whether or not you want to continue to sink...or decide to swim. Consults are free in most cases and you've been given information on where to get assistance, if needed. Filing BK has nothing to do with your marriage issues at this point, they are 2 separate entities given you claim none of the debt is your husbands.

Again, sink or swim - its up to you. No one can give you a lifejacket until you decide.

[merime]

Yes, I know but saving $500 just for the retaining fee is very difficult. That is more almost as much as I make in a month. No, none of the credit cards have my husbands name on them. He was the reason I used credit to begin with. He gave me an allowance of $100 a week for 3 kids. My mom was helping me pay minimums , but they got too high. I want to file, but it will take me upto late Feb to gather the quoted $1,600 and $299 to file. I just hope I do not pay all that only to find that I do not qualify because of my husbands income, even if all he gives me is a roof overour heads. Thank you for the advice. I really do need a lot of it and appreciate it all. I have nobody to talk to about this. Thanks!!

[newbie2]

I don't know though. My husband makes $84,000 , but none of the debt is his. Also, I am completly responsible for the children and household things. I just dont want to sink $500 into a retainers fee only to find out I do not qualify.We truly are married in name only, and if needed I would gladly file separation papers. The only reason I have not is because I am an only child, no relatives and need a roof over our heads. Thanks for the support.

If your husband makes as much as you say, then you have other issues in regards to a bankruptcy. Merime, you need first to work on getting out on your own and supporting your own household before you think about filing for bankruptcy. With your husbands income (and the marriage issues) a successful bankruptcy discharge may not happen. Work on YOU first and then the financial end of things.

[merime]

Thats my problem I cant. With the amount I make , I cant even rent, much less pay for groceries for the children. I need a roof over our heads and thats the only way. Trust me it is like living in prison, and I know there is help, butI can't seem to find any. I called legal aid , and they charge $50 to walk in door. I have no choices. Thanks for the support, I know I am a complete mess.

[newbie2]

Merime, no one here can help you until you learn to help yourself. A full time job, shelter, etc should be first on your list. We've all tried to give you good solid advice, but you keep saying you "can't" to everything. You can. Once you start to believe in yourself you'll be able to move forward.

Good luck hon.

[merime]

I couldn't agree more. I tried, honest I did. Finding a part time job was difficult. I take on as many hours as I can. Yesterday my paycheck for 60 hours was $483. Thats still not enough for rent. Even if all my paychecks were like that, saving the $400 a month in order to file in late Feb is almost impossible. In order to save the $400 a month , I must default on the CC with BoA where our mortgage is. I have no idea how thats going to go. I tried calling crisis assistance. They wanted me to come in during the day. I can't , I work. I need that money. I tried legal aid for low income people and they want a $50 consultation fee. As far as a shelter, how would my kids go to school and me to work? I have no car and there school is about a 45 minute drive from the city as is my job. I would get a new job, but I feel blessed to have the one I have. I do not need transportation and I am doing an excellent job according to my boss. I could go back to school, but that costs money. I look in the classifieds every day, but most daycare teacher jobs start at minimum wage. Thank you for trying to help, but as you can see its not very easy for me to get out. With no family ,I really do have it bad. Thanks again!!

[merime]

Thank you, I may rife it out. I was planning to do yhat until Citi sued. Not sure how that may change things though.

[forgotten]

I couldn't agree more. I tried, honest I did. Finding a part time job was difficult. I take on as many hours as I can. Yesterday my paycheck for 60 hours was $483. Thats still not enough for rent. Even if all my paychecks were like that, saving the $400 a month in order to file in late Feb is almost impossible. In order to save the $400 a month , I must default on the CC with BoA where our mortgage is. I have no idea how thats going to go. I tried calling crisis assistance. They wanted me to come in during the day. I can't , I work. I need that money. I tried legal aid for low income people and they want a $50 consultation fee. As far as a shelter, how would my kids go to school and me to work? I have no car and there school is about a 45 minute drive from the city as is my job. I would get a new job, but I feel blessed to have the one I have. I do not need transportation and I am doing an excellent job according to my boss. I could go back to school, but that costs money. I look in the classifieds every day, but most daycare teacher jobs start at minimum wage. Thank you for trying to help, but as you can see its not very easy for me to get out. With no family ,I really do have it bad. Thanks again!!

My opinion (for what its worth), you need to get seperated/file for divorce, then go see a social worker for information on assistance. Once you are single with 3 kids there is all kinds of assistance in most states: child care, housing, food stamps, etc. Not to mention you could then get a child support order, since he makes good money, that will be a decent amount. My wife use to own a daycare, several of her employees were single moms making not much above minimum wage and were getting by on their own (with the above mentioned assistance, of course).

A bankruptcy isn't going to work out well in your situation. The trustee isn't going to buy the fact that you are "seperated" but living in the same household, too many people try to game the system that way.