No matter how much u make? Not an issue now but can happen.Been doing housing rentals not paying much but could get some home sales down the road.By the way,since u have helped me i have to tell u what happened to me Fri.i filed BK on my own Fri. I had left my phone in the car.When I entered my car I listened to the message. The one creditor I have been fighting left a messgage to settle.(We were set to go to trial May 14) I called and they said they would settle for just a $1,000($12,000 owed).I would not have filed if they had called earlier.Unreal! I have been thinking of opting for a voluntary dismissal since i only have 1 more creditor for $18,000 and one medical bill for $5,500.Would u suggest that or just go bk since it will still be a public rercord whether i voluntarily dismiss it or not.
But as far as getting employment it would look better if i did not actually go bk,right?On the other debt they have been sending a letter to settle the 18k for around 5k and if I fought them if they sue me i could get maybe get it down even more because apparently they really dont want to pay heavy legal fees to go to trial like my other creditor.In addition,the other creditor is approaching the statue of limit in about 5 months.Given this info,do u still feel that way about still going through bk.thx
Or would the voluntary bk dismissal really not make that much diff?
It is amazing if I had got that call 45 min earlier I would not have filed BK.What luck? Story of my life.Thx
But I am insolvent currently so I would not have to pay that as income correct?
what about insolveny does that counteract liabilty for taxable income.i will hit button upon r answer Thx for all r help
I think that is correct.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).