 Can a company send my name to the credit agencies even though the £76 I owe them was due to their error.? |
| A company said I owe them £76 for a contract that I signed. This amount came about due to their own fault such as saying that the staff I dealt with forgot to sent some paper work to their head ... |
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 Does negative credit ever "fall off" your credit report ie 5-10 yrs.? |
| Is there a limit to the time bad credit such as charge offs, unpaid medical bills, credit card bills are listed on your credit report? I think there is a limit on the collection time but what about ... |
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 What happens with credit card debts not paid in a long time say more than 6 months?? |
| i got sued by one credit card - but worked out a payment to stay out of court. can someone tell me worst case scenario? can they garnish my wages if we go to court?... |
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 How can I improve my credit rating? |
| I owe lots of money toward bills(such as utilities) and credit cards. I just got a nice chunk of change from my tax return. How do I get my credit rating up without going broke? Or is it wiser to ... |
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 Will canceling the credit cards that I dont use affect my credit? |
| I have about 10 credit cards that I dont use anymore they are activated but dont have any balances and I was just thinking of canceling them but dont know if I should would that affect my credit in ... |
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 How does a credit card work?? |
| I applied and received my first credit card this month and was first affraid to use it due to my sis being in so much debt from hers. I finally had my first "emergency" 2 days ago where I ... |
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 Can anyone tell my if this is legal and how to get it off my credit report? |
I have problems with Midland Credit Management. They have never validated anything and yet continue to make entries on my credit report. Here they are--check out the new dates!
Two E... |
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 Trying to find out my credit rating? |
| My partner and i are going to get a mortage and we want to find out if our credit is ok as we have had trouble with it in the past,i was told you could contact a company and they would send you all ... |
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 Where should I get an auto loan online? |
What are some good and reputable internet sites that offer auto loans?
Additional Details
NOT auto insurance.... |
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 If you get declined for a credit card, does that affect your credit score negatively? |
| I was wondering out of curiosity because I was declined a credit card for being "out of the service area." I heard that it will show that your credit was looked into, but it wont decrease ... |
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 How do I build better credit from bad credit? |
| I am trying to get out of my bad credit slump from when I was younger and just went crazy with my credit cards. Now that I am older I am trying to start over. I have about 4 or 5,000 in Credit card ... |
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| Is there a way to know your credit score? |
| Do you know a site that i can see my credit score w/o a fee?... |
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 Why are banks in america are going bankrupt?? ? |
| just read about Lehman bro's bankruptcy filing>> i do not have deep knowledge of economics...so could someone explain to me in simple terms about the issue i have written>>... |
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MrsMaltz | How much debt do you have to have to file bankruptcy? |
Is there a set amount of debt you owe in order to file bankruptcy? |
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Sam h
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The primary purpose of bankruptcy is: (1) to give an honest debtor a "fresh start" in life by relieving the debtor of most debts, and (2) to repay creditors in an orderly manner to the extent that the debtor has the means available for payment.
Bankruptcy allows debtors to be discharged from the legal obligation to pay most debts by submitting their non-exempt assets, if any, to the jurisidiction of the bankruptcy court for eventual distribution among their creditors. During the pendency of a bankruptcy proceeding the debtor is protected from most non-bankruptcy legal action by creditors through a legally imposed stay. Creditors cannot pursue lawsuits, garnish wages, or attempt to compel payment.
The rules for filing change from state to state.....but not real good for your credit rating. especially if you try to buy a house. |
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trustme_imascientist
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It totally depends on your income level. I know that some changes have occurred recently, but as of a year ago in Texas if you made less than the 'average income' for your county you were eligible to declare bankruptcy regardless of the total debt amount. If you made 'average income' or more, there was a complicated equation that took into account all of your income for the prior 6 months (after taxes), all of your bills, and reasonable 'daily living' expenses that anyone could expect to have. If it was determined by this equation that your debt far exceeded your income, you were eligible for bankruptcy.
There were some 'classes' we had to take prior to and after filing, and the paperwork was extremely complicated. I HIGHLY recommend paying an attorney to help you with the process. True, they are expensive but their service is invaluable -- and the cost of the attorney in most cases does not even come close to the cost of struggling to pay overwhelming debts off.
It is true that bankruptcy stays on your credit report for like 7 years, and now you can only file once every 8 years. However, these problems are not devastating as some information would have you believe. Every year you are out of bankruptcy while maintaining good credit since the discharge, the significance of the bankruptcy decreases. Besides, the relief and peace of mind you can gain from experiencing a 'fresh start' and a 'second chance' is definitely worth it! |
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Barry S
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I don't think there is a set amount - if you have so much debt that you are past the point where you can ever hope to pay it back then bankruptcy is your only answer.
That could be $5000 or $50000 dollars depending on your circumstances. |
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Zeltar
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No. A set amount doesn't exist. This would mean a poor person couldn't file, but a rich person could. Nope. Rather, the court looks at your ability to pay based on the income you can generate. Normally, something substatial happens to cause bankruptcy such as a medical condition, unemployment, divorce, or becoming a widow. Normally secured loans, like an auto or home do not cause backruptcy because you can get rid of the asset. Zero down loans have changed that to some degree recently. |
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tennessee
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any amount |
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anything answer
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Zero Dur |
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See Saw
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No set amount is required to file bankruptcy:
Information on Chapter 7 Bankrupt
http://get-out-of-the-debt-trap.com/category/Information-on-Chapter-7-Bankrupt.html
Information on Chapter 13 Bankrupt
http://get-out-of-the-debt-trap.com/category/Information-on-Chapter-13-Bankrupt.html |
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INACTIVE
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It is not as easy as you used to be. First of all you can file bankruptcy for $100 in debt if you are unable to repay it and you have no assets that can be used to repay. When you file bankruptcy your financial life is put into the hands of a trustee and you're only allowed so much equity in a house or car. Most trustees are now looking into debt repayment plans rather than totally discharged bankruptcies. The answer for whether or not you qualify will be up to a qualified attorney. Don't go with a storefront legal clinic for something like this. You need professional help and it's not cheap. Make sure you cannot repay the amount of debts that you have or you'll have to repay them PLUS the cost of the bankruptcy. Perhaps your first call should be to a legitimate credit counseling agency like Consumer Credit Counseling... |
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Vampir V
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Do you really think filing bankruptcy is a solution?
You have to pay back your debts. |
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kennethbyrd98
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There is no set amount you just have to show that you can not pay the money. I.E. your debt is $100 but you earn 1 cent while your cost of living is 2 cents, you can file. |
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