Tag Archives: Unsecured debt

Steps to avoid a filing a second bankruptcy

Recently on our legal forum a user asked, “I have filed bankruptcy in the past. I am sorry to say, however, that I seem to have gotten myself in another financial crisis. I don’t want to have to file a second bankruptcy, but I am at a loss as to my next steps. Do you have any advice for me to avoid filing bankruptcy a second time?”

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Three reasons not to file bankruptcy

Recently on our bankruptcy forum a user asked, “My spouse and I are having an argument. We currently owe $25,000 in credit card debt, $50,000 in medical bills, a $300,000 mortgage we cannot afford, and a $50,000 car loan we cannot pay. He seems to think that if we file for bankruptcy that all of our debts and problems will disappear. I feel like we got ourselves into this mess and we should get ourselves out. What is your advice?”

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Deficiency after foreclosure can the lender sue?

Recently on our bankruptcy forum a user asked, “I am about to lose my house through a bank foreclosure. If they end up selling my house but the sale price is less than the mortgage will I have to pay the difference? I have heard something about some states having anti-deficiency laws. What do I need to know about a deficiency?”

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Disability overpayment and Chapter 7 bankruptcy?

Recently on our legal forum a user asked, “I had a severe back condition, COPD, and depression for several years. I attempted to go back to work. I somehow generated about $10,000 in a disability overpayment. I tried to get the SSDI to waive the disability overpayment charges but was unsuccessful. My husband has also lost his job and we have about $30,000 of credit card debt. Can a bankruptcy discharge my disability overpayment?”

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Loan Company refuses to settle for less than the amount owed

Recently on our bankruptcy forum a user asked, “I took out a loan for $20,000. I lost my job and I have not been able to repay the loan company. I have tried contacting them and seeing if they will accept less than the amount owed, but they will not budge. Now they are threatening to take me to court. What are my options?”

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Can we file bankruptcy on mortgage debt?

It’s not unusual for a couple or family to purchase a home only to have the unexpected occur: illness, job loss, unexpected death. So what do you do when you have a home that you can no longer afford? Maybe you have tried to sell it but the market has fallen flat? Maybe you bought it only to lose your job a month or two later?

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Co-signer on loans is mom. What happens in Chapter 7?

Young adults, now more than ever, are facing difficult financial times. Whether it’s high college loans, unexpected medical bills, the high cost of living, or simply not being able to find a job, many young adults are considering filing for bankruptcy protection.

Recently on our bankruptcy forum a user asked, “I am a 28 year old living in New York City. I graduated from college a few years ago with over $50,000 in school loans and $20,000 on my credit cards. I also have several unsecured personal loans and my mother is a co-signer. What will happen if I file Chapter 7 and will my mom be forced to repay the personal loans?”

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Payday loans should I get one?

Despite what some have called an economic recovery, many individuals and families are struggling to make ends meet. Recently on our bankruptcy forum a user asked, “I lost my job last month and need money fast. I have heard about the dangers of getting payday loans, but I don’t see another option. I live in California. If I do decide to get a payday loan what do I need to know?”

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Credit card company can they sue me?

Although politicians may claim the great recession is over, there are still millions of Americans struggling to pay their bills, including credit card debts. Recently on our forum a debtor asked, “I received a summons and complaint from my credit card company, and they said they have filed a lawsuit against me. Is this legal and what are my options?”

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Bankruptcy lawyer won’t tell me what to do why?

If you are facing a financial crisis you need solutions and fast. Going to a bankruptcy lawyer can help. They can review your budget and expenses and offer a variety of financial options. Recently on our bankruptcy forum a user asked, “I went to talk to a bankruptcy lawyer but rather than telling me what I should do, he told me the decision was entirely up to me. What do I do next?”

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