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I am 35 years old and accumulated a bunch of debt for

I am 35 years old and accumulated a bunch of debt for various reasons and can't find a good answer to how to handle going forward. The bankruptcy attorneys I have talked to don't really tell me whether it's a good idea, they just want to charge me and file. A financial adviser is just there to manage wealth, debt settlers just want to consolidate your debt whether it's the best option or not and I am past credit counseling and consolidation at this point. Below are the points of my situation and questions.1. I am in the situation due to house issues, a salary decrease, and health issues so I do qualify for debt settlement. I don't want to do this because I could still get sued for the debt and I would like to just move forward with whatever the solution is.2. I would like to save for emergencies and retirement and can't do that now because I have so much debt and I would also like to buy another house at some point again in my lifetime.3. I make $110,000 a year in salary with about a $10,000 bonus.4. I own a house but can't sell it because I just purchased it in August and would have to bring thousands of dollars that I don't have to close. I can rent it but would still have to pay about $500 a month to make up for the gap between the rent and my mortgage. I do not want to keep it so could let it go in bankruptcy or do a deed in lieu of foreclosure. I don't think I can do a short sale as I don't think I can keep up with the payments as it can take a long time to sell and close.5. If I do bankruptcy, is using an attorney online sufficient or should I find another one local that can be a bit more hands on?6. I have a car that I owe about $25,000 on that I want to keep.7. What kind of financial information do I have to provide to prove I need to file bankruptcy?8. I have about $46,000 in student loans9. I have about $86,000 in personal loans10. I have about $21,000 in credit card debt.

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Terry L.

Partner

Doctoral Degree

2,934 satisfied customers
I ran into financial problems last year and accumulated

I ran into financial problems last year and accumulated nearly $30k in credit cards debt that was sent to collection agencies. Now, I have the money to pay all of it.What would be the best way to clear my credit? Is there a way, or I would have to wait 7 years for this negative information to disappear?

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NYCLAWYER

Attorney

Juris Doctor.

40,248 satisfied customers
NOT A DUPLICATE I asked a similar question earlier but am

NOT A DUPLICATEI asked a similar question earlier but am looking for a second opinion.When filing chapter 13 bankruptcy, is a credit card company that has obtained and perfected a judgment lien against the debtor considered a secured creditor? Should the credit card company's claim in this instance be considered secured?

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Phillips Esq.

Attorney

Juris Doctor

20,732 satisfied customers
I am a homeowner with close to $35,000 in credit card debt.

Good morning, I am a homeowner with close to $35,000 in credit card debt. I find myself in a deficit of about $250/mo paying mortgage, household expenses, and credit card payments. Would I be eligible for bankruptcy? Thank you,.

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Terry L.

Partner

Doctoral Degree

2,934 satisfied customers
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?

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mmdesq

Attorney

Doctoral Degree

1,066 satisfied customers
Credit Card debt. I'm in California my wife lives in France.

Credit Card debt.I'm in California my wife lives in France.IM filing for BK chapter 7. Separate from my wife.I stopped paying on a credit card in 2005. We got married in 2006.Cach LLC picked up the debt from BAnk of America and got a judgement in 2010 against me...will my wife be responsible for my debt if I BK.

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NYCLAWYER

Attorney

Juris Doctor.

40,248 satisfied customers
My brother and his wife declared chapter 13 bankruptcy in

My brother and his wife declared chapter 13 bankruptcy in April. They have a total of approx. 436K in secured claims against them and 197K in unsecured claims. The secured claims are their mortgage, IRS and NJ state taxes along with an auto loan. The unsecured claims are mostly credit card debt and a 70K business loan that I signed as a co-guarantor just before leaving the business to my my brother in May 2002. Between 2009 - 2015, he had used the entire business loan and had to close his business. During that time he leased automobiles and took trips that were not business related. After declaring bankruptcy, my brother and his wife decided to put their house up for sale thinking their house could more than cover the total of all claims. It's been on the market for 5 months and the asking price is less than the amount he owes in total. My question, at this time; since I was defrauded and left with the responsibility to pay back the business loan (I've paid monthly up to 15K to date since he filed), can the loan be changed to a secured claim so that it's guaranteed to be paid in full when he sells his house? He should get enough to cover just the secured loans.

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Roger

Litigation Attorney

Doctoral Degree

34,634 satisfied customers
My 87 year old mother has quite a bit of unsecured credit

My 87 year old mother has quite a bit of unsecured credit card debt with multiple creditors that she can't afford. I'd like to stop making payments and negotiate a debt settlement (20% of total). I understand this will damage her credit score and any debt written off could be considered income. If I'm offering a payment, can a creditor force my mother into bankruptcy or put a lien on her home?

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

51,236 satisfied customers
When filing for bankruptcy as a business, which is an llc.

When filing for bankruptcy as a business, which is an llc. How does it affect you personally? Credit, assets, etc.

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legalg

Juris Doctorate

16,302 satisfied customers
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