I have the following debts: 42,000 student loan (Feds)
I have the following debts:42,000 student loan (Feds)14,000 car loan12,000 signature loan26,000 credit cardsI've been unemployed 5 monthsAssets:22,000 in pension account600 in Series e savings bonds2000 in stock and bonds account3200 in 401k1000 cashI do receive 1,900 in unemployment benefits a month but that will run out in 2 monthsIs it as hopeless as I feel it is? Should I file for bancruptcy now?
I am 66 still working as an engineering contractor and
I am 66 still working as an engineering contractor and making very good money, however one or both of two events may occur which would leave me only with my wife's and my social security and $800 /mo in two small pensions. Our combined social security is 3600/month. We could pay our secured debt which consists of two cars and a mobile home out of this ok but not the payments on our unsecured debt. The events I mentioned are: at the end of december my contract assignment will be over( i had anticipated 2 more years, but business is down) and or my wife who has cancer has a checkup in december. If her cancer is back it is terminal I might not be able to get another contract job . I will look for work after this assignment ends but the market is down so no guarantees. I have about six month of expenses saved. Should i try to payoff one of my cars? What in general can i keep and what should i do in preparation. Also my zip is 77360. Are there any bankruptcy lawyers in this area?
My ex-wife has a student loan that she fails to make
Good afternoon,My ex-wife has a student loan that she fails to make payments on from time to time and I just so happen to be a co-signer. I have documents from the judge stating that she was responsible for the loan. However, I am still responsible to repay the federal student loan. Since she has had several late payments that I have had to also pay for, what is my best option for resolving this matter as she now has bad credit, can't find a new co-signer to remove me from the loan and I want this $32,000 loan @ 8.99%(v) loan to go away? I have enough money in my 401k to pay this amount off today but even if I get the legal documents written up, notarized and signed, will she be able to file for bankruptcy and no longer have to pay me? Please help, thanks..Dennis
Bankruptcy atty please. My mother died and I am going to
Bankruptcy atty please. My mother died and I am going to receive a disbursement from a family trust. I am also facing a chapter 11 in the near future. The disbursement is pretty large. If I have the disbursement go into an IRA or 401K and wait 120 days will the retirement account be protected ?
Bankruptcy & Retirement Fund Loan / PaymentsState is NJ.
Bankruptcy & Retirement Fund Loan / Payments.State is NJ. How bankruptcy treats retirement funds (401K, etc) loan and payments for this loan? Can payment be part of the mean test / a valid expense? Will this be a concern of the Trustee to notice how this loan was spent? If the loan is over a year old? I understand this loan is not discharged in either 7 /13 as this is loan and payment to oneself.
My name is ***** ***** I have debt situation to ask advise
Hi My name is ***** ***** I have debt situation to ask advise aboutJA: Thanks. Can you give me any more details about your issue?Customer: Of course and thanks in advance Here we go: I own the house that is worth about $950k and mortgage is $760k I recently lost my business and can not keep up with payments My wife makes about $100k but after taxes it is not enough to pay mortgage, cars, insurance etc Additionally I have about $70k in credit cards debt Also I own condo outright (1 bedroom), its worth about $80k no and i have a tenant Lastly , we have about $250k in retirement accounts (IRA and 401k) We have two children and I am searching for work for 2 months and can not find anything (I have BS in Electrical Engineering) So my options are : bankruptcy (but I would probably loose condo) foreclosure (but i will loose equity) sell the house (but i can not keep up with payments) Do nothing (it means foreclosure) Sale the house (it takes time and my payments will be delayed) And finaly I was thinking to borrow money from 401k, pay off credit cards, sell the house and hopefully return money to 401k from equity and then rent something..... I am badly Screwed.......Any advise?JA: OK got it. Last thing — Bankruptcy Lawyers generally expect a deposit of about $18 to help with your type of question (you only pay if satisfied). Now I'm going to take you to a page to place a secure deposit with JustAnswer. Don't worry, this chat is saved. After that, we will finish helping you.