Posted on: 19th Jul, 2012 01:29 am
Hi… I got injured in an accident but I am not at fault. The accident lawyer due to his case is pending with insurance. But I have leads of debts and also a judgment against me. In such a situation, should I file bankruptcy and don’t think about the other person?
hi semenya,
if you're facing problems in paying off your debts and don't have any other options to look out for, then you may consider filing bankruptcy. you won't have to worry about others.
thanks,
jerry
if you're facing problems in paying off your debts and don't have any other options to look out for, then you may consider filing bankruptcy. you won't have to worry about others.
thanks,
jerry
Welcome Semenya,
Know all about filing bankruptcy from the given page: http://www.mortgagefit.com/know-how/filebankruptcy.html
Know all about filing bankruptcy from the given page: http://www.mortgagefit.com/know-how/filebankruptcy.html
Semenya;
NO!! If you are in debt and behind due to an accident that has put you behind, and is a true medical issue..TALK TO YOUR DEBTORS...INDIVIDUALLY.. MOST IF NOT ALL WILL WORK WITH YOU ONCE YOU GO LATE ON YOUR PAYMENTS. TELL THEM WHAT YOU CAN AFFORD TO PAY...BUDGET THAT IN YOUR BILLS. If you have no means to pay right now..TELL THEM.. agrre ona new loan start date and pay what you can then once you are back on your feet and then submit paym
NO!! If you are in debt and behind due to an accident that has put you behind, and is a true medical issue..TALK TO YOUR DEBTORS...INDIVIDUALLY.. MOST IF NOT ALL WILL WORK WITH YOU ONCE YOU GO LATE ON YOUR PAYMENTS. TELL THEM WHAT YOU CAN AFFORD TO PAY...BUDGET THAT IN YOUR BILLS. If you have no means to pay right now..TELL THEM.. agrre ona new loan start date and pay what you can then once you are back on your feet and then submit paym
..(payments)..okay....adding this on in case it didnt go through. Just talk to your banks and lenders and let them know your situtaion. Rember: A bankruptcy stay on your record for 10 years now,,,,and you can get NO CREDIT in Chapter 13 (NONER..regardless of what lawyers say......NONE!!!) Even if you get it in Chapter 7.....your interest on loans will be 13-29%...forcing you into another bankruptcy later. If you talk to lenders and put up with the harrassing phone calls for a minute, you'll see a change in credit but itll go back up within 3 years. Bankruptcy also adversely affects application approvals at rental properties, utilities deposits, employment, mortgage applications, equity loans, auto loans,and even school loans. I paid on a chapter 13 for 4 years, after paying bills late, and ive been discharged for 18 months.....Here I am 6 years later...house poor with no one wanting to work with me in the banking industry without sawing my arms and legs off. I tried to pay my bills and got screwed for doing it. The banks want you to file chapter 7 so the government can back them on their loss (hyper inflated loss, mind you)....just don't do it..lawyers and bankers get rich and you get poorer......try to talk to lenders and have them send you written agreement on new loan procedures....pay what you can and ignore phone calls !!!!! you are welcome