 Is 708 a decent credit score? |
| My credit score is 708. I would like to know if it is a decent score. Also, if it is, do you think that I could get a ten thousand dollar loan from a company that checks the experian credit agency. ... |
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 Can a credit card creditor place a lien on someone's home to collect a debt? |
| My wife and I are being harressed and threatened by a collection agency over the phone at my wife's work to place a lien on our house if we do not make good the debt. Can a lien be placed on a ... |
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 How do I build my credit if I don't have any? |
| I do not have any credit and would like to build it up. I am a student currently so my student loans will not show up until I graduate. Do I have to wait until then to build my credit. No credit card ... |
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| i have a checking acct that has a balance of negative 1 dollar. i checked my acct a week ago from an ATM, and thought that i had a dollar left, when actually i had a negative balance. I didnt realize ... |
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 What happens when Care Credit calls you at work and threatens to sue you? |
| They just called me at work, saying that they were going to file a complaint and then asked if I had an attorney. I told them that I didn't have the money for an attorney and that I didn't ... |
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 How long does it take for bad things on your credit report to get off? |
| I have an unpaid credit card from about 5 years ago. I was very irresponsible then, but now, I don't know which credit card it was or how to contact them. Does it ever go away and if so, how ... |
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 Canceling a credit card!? |
| I want to cancel my credit card but i need to write a letter to the company! Can you give some ideas to write this letter!? What things should i write!?... |
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 Cannot get credit card, need credit history? |
| I'm in college and have tried applying for credits cards over 50 times to build up a score and am always denied. I don't really want to use them a lot per se, I just need to build up a ... |
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 I have a question about collection agency/law firm? |
Hello,
last week i got a call from a very mean person asking for my wife. I told him that she was not here. This guy asked who i was i told him her husband. He then told me she is in big big ... |
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 Overdraft!!!!!!!? |
| If I wrote a check out for $600.00 and I only have $50 dollars in my checking account will it go ... |
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 I have 10,000 in cash and need a car but want to get a loan....? |
| to help my hideous credit. Will a bank loan me the 10,000 if I put my 10,000 cash up as colateral?... |
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 For people with bad credit? |
| How many negative items do you have on your credit report? I'm trying to find out how bad mine really is.... |
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 My credit score is 666? |
| What does this mean? What does the devil have in store for me and my finances?... |
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 I am just trying to figure out credit? |
| I just don't get it, I spent 15,000 to pay off everything on my credit. My score has rebounded some to about a 647 except for my trans union which went from a 630 to 599. I opened a credit card ... |
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| ok so there is this game on the computer and u can get credits to buy clothes but you have to buy them. and my parents probably would not buy me them. i want to take their credit card and use it. it ... |
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 Will opening a secured credit card improve my credit rating? |
| I have heard that applying for a secured credit card (setting my own account spending limit) will help improve my credit score. Is this true? And how does that make any sense?... |
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 How can I get a $15,000 loan if I have horrible credit?? |
| I own my home, have about $15,000 in credit card debt and I am DROWNING. I can't make my monthly payments and I really can't think of any ways to get any extra cash in order to pay them. I ... |
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sassycrazylame | When should a person consider filing bankruptcy? |
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DLeibowitz
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There are several indicators. First, debts exceed assets. Second, current cash flow is less than necessary to sustain living necessities and still pay one's debt in a reasonable time. By this, I mean that the person is unable to reduce one's credit card debt meaningfully, if not completely in a 3-5 year period.
Bankruptcy should be considered if you have a new and totally unmanageable debt which you might never be able to satisfy. This could be owing to illness, hospitalization, sustained unemployment, divorce, natural disaster, personal calamity. A big deficiency judgment after a foreclosure or eviction could also trigger the need for a bankruptcy.
Bankruptcy should certainly be considered if you are facing wage garnishment and would not be able to survive with the loss of disposable income. Bankruptcy should be considered if you are facing multiple lawsuits for collection.
Before you can file a bankruptcy, you must have credit counseling and after you file it, you must take a short financial training course. The credit counseling session will require you to consider non-bankruptcy options.
In general, if you can make a reasonable plan to satisfy your debt in a reasonable time period out of bankruptcy, you are better off not filing. Most people who get to this point find that such a plan is difficult, if not impossible. |
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Frank Castle
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Never. |
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Harley
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When you know for a fact that if you were to completely exhaust your resouces, and still couldn't get yourself at least on the way to being out of debt, then that would be a good time.
Your debt will only increase and become impossible to repair. |
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Studly
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There are so many reasons people file for bankruptcy....
Sudden medical bills, loss of job, way too many credit card debts, unforseen emergencies....
Bankruptcy is the last resort. You do not want to go there unless you have no other option.
With no other info I can't advise you.
First, take a look at the link below. It describes the new bankruptcy requirements. New laws passed last year make it harder and more expensive for people to file.
If you still feel it's necessary, contact a bankruptcy attorney and get his advice. Better yet, see if your community has any free financial advisers you can talk to. Many times if someone from the "outside" takes a look at your situation, they may have an idea on how to get you out of the situation.
But don't expect any magic bullet to save you. Your going to have to get on a very serious budget. Forget dining out, movies, and entertainment. Lose your cable tv and internet. It's going to be rough. |
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askmike
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well...if credit cards are what has you in a pinch your screwed thanks to new bankruptcy laws you cant file on credit cards..if you have medical bills and other things like that then filing will help..usually by the time someone files bankruptcy their credit is already in dire straits. and filing can only help. its the best thing we ever did. |
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jibbers4204
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If u can possible help it DONT! It ruins your chances of getting housing, other credit/loans (try to buy a car with bad credit) Bankruptcy isnt always the answer. Consolicate you debt and only spend what u need to spend. When u go shopping ask yourself can i do without this...is it important to have and most the times the answer will be no. Think real hard and long before u claim bankruptcy...it takes 7-10 years to have it erased from your credit history. |
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happydude
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when huge losses occur in business and when he really cant pay the amount |
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sarahluvssmarties
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When you have no other options, no family or really nice mates to help you out, and you have bailiffs literally taking your sofa and TV away. Everyone seems to take bankruptcy like its an easy option now but you can't have a bank account for like 3-4 years, and then you're only allowed a solo card which is like the crappiest card in the UK and everyone knows that, and you can't get a mortgage either. I've been in the middle of a bankruptcy and believe me its not the easy option, you go to court and have to pay to file for it in the first place! Go to a loan consolidator and just get all the help you can find, but if you can't see any other way out, then maybe it is better just to start from scratch, but it's not going to be easy, talk to your friends and family, and don't ever beat yourself up about it, there is always a way through these things. |
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God......
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Individuals fight out, you can and should start all over again, buy time from creditors to pay back and they would agree as it is better than let you declare bankrupt.
Companies should never go into liquidation by bankruptcy as long as they can be a going concern. Only debt trap can lead to bankruptcy, ensure you do not get into one. If the intentions are malafide then bankruptcy is a escape route.. |
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mikeec79
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When you have no assets (property, shares, investments etc) and no means to pay back your debts within a reasonable amount of time. Check www.insolvency.gov.uk for further advice on bankruptcy and other options which may be available. Go and see a specialist debt adviser (its what I do for a living) at your local Citizens Advice Bureau before committing to a specific course of action. Lastly, you should avoid approaching any companies that charge a fee for helping with debt problems.
By the way, "askmike" is talking rubbish. There has been no changes in bankruptcy legislation since the Enterprise Act 2002, and credit cards can be included in bankruptcy. The only debts which can't are student loans, benefit overpayments (sometimes), secured debts (like mortgages etc) and a few other rare types of non-consumer debt. |
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