I have a friend who filed bankruptcy and got thousands of dollars of credit card debt discharged?

red Asked:
I have a friend who filed bankruptcy and got thousands of dollars of credit card debt discharged?

What happened to all that debt?

Best answer:

Answer by discowu
Bankruptcy essentially means telling the court that you are absolutely unable to pay back the sums that you owe. The court either divides up your remaining assets to pay your creditors, or reorgnizes the debt to make it easier to pay. Debt that ends up being discharged basically means it is wiped out. Your friend will probably never have to pay it. However, the bankruptcy as a whole will reek havoc on his credit rating, making it near impossible to get loans for quite some years.

What do you think? Answer below!

Q&A: credit card judgement question?

g Asked:
credit card judgement question?

My husband has a credit card verdict against him, that we are monthly payments. We live in NC and sell our house. If this ruling to pay before we move? We were never told that we have a lien on the house. I’m just not sure whether to pay judgments before the home can be sold. The home is as cosignor in my study as primary and my husband.

Best answer:

Answer by p_borino
if there isn’t a lien on the house, you can move. But you must notify the credit card company of the change of address.

What do you think? Answer below!

what can credit card companies take if they get a judgement against you for unsecured debt?

jim s Asked:
what can credit card companies take if they get a judgement against you for unsecured debt?

My mom broke up Quite a bit of credit card debt is 75 years old and can not pay. What are their options?

Best answer:

Answer by Jelly Bean
Credit card companies can't take her social security for an unsecure line of credit even if they have a judgement. She really needs to file bankruptcy.

Know better? Leave your own answer in the comments!

Q&A: Can you rent a car with personal liability only??

babysteaks3 Asked:
Can you rent a automobile with individualized liability only??

I need to rent a automobile for a trip. I do not have full coverage on my own car. Can I just rent liability or do I buy the rental insurance?

Best answer:

Answer by Uncle Red
Even if you did not get their insurance your insurance doesn’t cover their car. If you use an American Express Gold automobile they will take care of the insurance you don’t need to buy it. Check with you credit card company to see if they wage coverage, some do.
You would need to buy their coverage for your own assurance that if you were in a collision you are covered.. If you feel lucky then don’t….Do you feel Lucky…Well.. Do ya….
“Harry Callahan”

Add your own answer in the comments!

Bankruptcy or Debt Negotiation ? What is Better ?

Outline: What Are You Looking For?
Bankruptcy Facts:
Avoid Foreclosure
Stop Wage Garnishing
Be Debt Free
Stop Creditors From Contacting You
Chapter 7 and 13 Optional
Alternative To Debt Relief
Helps To Stop Repossession
Interest-Free Debt Repayment Plan

Click here for Free Bankruptcy Evaluation

Debt Negotiation Facts:
Free No Hassle Quote
Reduce Credit Card Debt 40-60%
Debt Free in Less than 36 Months
One Easy Monthly Payment
Alternative To Bankruptcy
Save More Vs Credit Counseling
No Home Required
Credit Cards, Medical Bills, & Personal Loan Settlements

Click here for Free Debt Negotiation Evaluation

What is better, bankruptcy or debt negotiation?

Bankruptcy and debt negotiation are the two main ways that debtors use to get out of debt. If you file for bankruptcy, you will be fortified from your creditors, and might be healthy to get away from paying your debts. However, there are drawbacks. Firstly, if you have assets like real estate, these might be seized by creditors to pay off your debts. Next, you will receive a massive negative impact on your credit report in a bankruptcy. In a bankruptcy, the entire legal action will be recorded and consequently your credit report will be devastated. This means that you have no access to loans hereafter and it will take you many years before you can restore your credit ratings.

On the other hand, you discuss your dire financial circumstances to your creditors, in a  debt negotiation, convincing them than it is in their interest to accept a lesser amount as settlement since they will get nothing if you file for bankruptcy. Whether you succeed in negotiating your debt will depend very much on your negotiation capability or that of the professional counselor you hire. You could anticipate to eliminate 60% of your unsecured debt if the negotiation is executed well.

However, if you have a very massive debt, or a non dischargeable debt that causes so much stress that it interferes with your capability to work, parent, or sleep, then you should think about filing bankruptcy.

Bankruptcy or Debt Negotiation? Which is better?

Money Saving Tips for the hard times

There are plenty of money saving tips and ideas out there; from the coupon code to websites that give you the ideal deals through price comparison. The major problem with many of these types of websites is that they are interested in their commissions so, by urging you to purchase online, you might not be getting the ideal deals available.

I know that, for many of us, ecommerce (online shopping) is the eventual way to easily shop for what you want – no travel to 10 different stores to find the ideal deal on you LCD TV; simply point, click and pay. But what are we missing out on? Next time you are in town stop for a minute and look around. How many small, independent stores can you see? I guarantee that plenty of them have prices that are equal to and, in many cases, cheaper than the huge high street names. Even if you’re looking for massive items such as kitchen appliances, you might be healthy to get a reduction on delivery charges if you haggle.

Here’s 5 practical money saving tips; some still require you to spend money, others will not.

1.   Home utilities – how much are you paying for gas and electricity? Can you find another energy supplier that will give you the same for less? This is relatively easy to answer. There are plenty of price comparison websites that will list all of the pro’s and con’s of listed utilities companies so all you have to do is choose the one that gives you the ideal deal. Tip: with any energy money saving tips; always go to apiece suppliers website and check that there are no nasty surprises that might not be listed on the comparison site you use.

2.   Save money on credit cards – free and easy credit. It’s our Achilles heel. Got a massive debt to pay off and being hit for high APR? Switch you card to a 0% interest credit card. There are plenty of offers around so make you sure you pick the one that’s ideal for you.

3.   Give up those brand study buys – let’s grappling it, we pay a premium for buying a brand name. A easy way to save money is to pick a ‘stores own brand’ product. If you’re not sure of the quality, ask someone who knows and has used the product. Don’t be ashamed to ask – even mulit-millionaires are counting their pennies now so why shouldn’t you?

4.   Eat at home – do you really need to go out for a meal on a regular basis? Add up the cost of intake at your favourite restaurant and then compare the cost to the price of buying the ingredients for home preparation. Now, unless you take at a really cheap, fast food chain you will likely see a significant price difference between intake out and home cooking.

5.   Save money on your mortgage – the repayment costs of mortgages are now slowly falling so now is the time to take advantage of new offers. If you have money left in the bank at the end of apiece month why not grab one of the deals that lets you pay it off early; like the One Account?

Money Saving Tips for tough times

Can credit card judgement garnish content bank deposit box

Lisa T Asked:
Can credit card judgement garnish content bank deposit box

Best answer:

Answer by mister ed
well never heard of it but if they can speak a judge into it — it is very possible!!!

Give your answer to this question below!

How to avail the Credit Card Cash Advance and is it possible to get quick cash advance Online?

Rajat Bhakri Asked:
How to avail the Credit Card Cash Advance and is it doable to get swift cash advance Online?

I have to pay back my debts. I have heard that it is doable to get to $ 2500 cash advance in the form of Credit Advance. As the process is to avail the benefits? Is it doable to get swift cash in advance online or you to the bank officials?

Best answer:

Answer by anon
buy used coins at the us mint it it will NOT count as a credit card cash advance

Give your answer to this question below!

Which Debts Are Not Dischargeable Under Bankruptcy

A  key reason in filing for bankruptcy is to discharge your debts. When you file for bankruptcy certain debts are dischargeable and certain ones are not. The ones that are dischargeable means that you are free and clear from having to meet your obligations for them. Examples of debts that are usually not dischargeable are as follows:

If you have a substantial dollar amount of misdemeanor fines, these debts will usually not be discharged during a bankruptcy. People convicted of a misdemeanor are usually given a fine, a sentence in the local or county jail, or both. Examples of misdemeanor fines are traffic citations. So, if you have accumulated fines of 0, for instance, those fines are not dischargeable.

But what if you were to pay your 0 bill with a credit card or a cash advance from a card. If you were to do this and then file for bankruptcy, the credit card bill might very well be a dischargeable debt, depending on when you pay the fine. This illustrates the practical real life effects of bankruptcy on how you pay your debts.

If you have been fined for a Felony, in most cases those fines will not be eligible to be discharged – the same as misdemeanors. The difference in the two are the type of slammer that you will be sent to if you are force to serve slammer time. Under felony rules, you will be sent to a federal or say prison. Under misdemeanor rules, you will be sent to a country or local prison.

Property taxes are in a category of their own. Dependent on the circumstances, in some cases these debts will actually be discharged. This is usually the case where the taxes are more than a year old from the time you filed for bankruptcy. In practice, however, even where the property taxes are discharged, the effect on you is meaningless.

The reason for this is that you will continue to have a tax lien on your property. This means that the property won’t be healthy to be sold or transferred before somebody pays the taxes. In other words, as far at the taxes on your property are concerned, you are pretty much in the same place as you would be if you had never filed for bankruptcy.

Most people with large income tax debts don’t bother with bankruptcy because they believe that these debts aren’t dischargeable. And, mostly, that is true. But it really depends on the circumstances. For example, if the debt is old enough and certain other stipulation are met, you will be healthy to discharge your debt. But if the debt is more recent, you might not be healthy to.

Not only that, but contingent on the say in which you are making the bankruptcy filing, you might discover that the say taxes might or might not be dischargeable. In a bankruptcy where tax debts are involved, it is usually ideal to speak to a tax attorney and / or accountant.  One instance, however, in which they are never dischargeable is where you are involved in income tax fraud.

What debts under bankruptcy endorsement Dischargeable

Q&A: What happens when you recieve a credit card judgement?

Question by jd51196:
What happens if you get a credit card ruling?

Best answer:

Answer by Jennifer B
You now have Public Records on file and reporting to the three credit bureaus which will lower your credit scores.

Some lenders think about Public Record items an instant reason for denial.

Know better? Leave your own answer in the comments!

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