Life Bankruptcy

mcan · 10-13-2009, 09:16 AM

Anybody here ever do it? What was your experience with it? I have a lot of very old credit card debt that I couldn't afford to keep paying on, and a lot of student loans that I have yet to really start on. Got my degree (in theater = dumb). I was teaching guitar lessons for cash through most of college and living off of student loans, then I was out of work for a while and now I'm living back home at the age of 29 (ouch). I did get a job on the production line of a fiberglass company for now, but the job isn't supposed to last past November. Got my summons a few weeks ago for a Discover Card debt. They want their money, and I don't blame them. But man, I really don't want to get my wages garnished and bank accounts frozen. This is a HUGE hole. Need out.

Any advice?

Demonpenz · 10-13-2009, 09:18 AM

Hang in there and remember It's not your fault

**Scorp** · 10-13-2009, 09:21 AM

Gun....bullets......nah just drink the poison under the sink.

mcan · 10-13-2009, 09:22 AM

Quote:

Originally Posted by Demonpenz

Hang in there and remember It's not your fault

Ha ha ha. (I assume that's sarcasm)

Seriously, I know I made this hole. Regardless of how I got here, I'm here. Now it's about what to DO.

Demonpenz · 10-13-2009, 09:23 AM

when i was having my credit problem i went to a self help group (which was surprisingly cheap 30 bucks a week or so). some of the steps were

1.) admitting that it wasn't your fault this happened. Credit companies use preditory tactics to seal your fate.
2.) trusting a higher power to get yourself out of debt
3.) Try to hold on to as many things you worked so hard to get.
4.) Reconize the kindness in others to help you get out or DON'T BE AFRAID TO ASK FOR HELP!

mcan · 10-13-2009, 09:24 AM

Quote:

Originally Posted by Scorp

Gun....bullets......nah just drink the poison under the sink.

It tastes like shit. I'd go buy some differently flavored poison, but it's precisely that kind of frivolous spending that got me here in the first place!

Brock · 10-13-2009, 09:24 AM

I don't think bankruptcy gets you off the hook for those student loans. I'd start working 2 jobs if I were you.

Demonpenz · 10-13-2009, 09:25 AM

in one of the lessons we learned to turn ourselves and credit over to a higher power. So I went to church and they put out a second collection for me. It wasn't enough to save my beloved sound system, but I was able to keep my bread maker.

MTG#10 · 10-13-2009, 09:26 AM

From what Ive heard if there has already been a court date set you're screwed, bankruptcy wont help you. And bankruptcy doesnt wipe out student loans either, you're still responsible for those no matter what.

Demonpenz · 10-13-2009, 09:26 AM

I would think about asking your parents for help, or pawning in someof their stuff. Good thing about parents they will love you no matter what, and when you do get the money back you can buy it cheap at the pawn shop

kstater · 10-13-2009, 09:28 AM

Quote:

Originally Posted by Demonpenz

Hang in there and remember It's not your fault

**Scorp** · 10-13-2009, 09:29 AM

Quote:

Originally Posted by Demonpenz

I would think about asking your parents for help, or pawning in someof their stuff. Good thing about parents they will love you no matter what, and when you do get the money back you can buy it cheap at the pawn shop

Don't listen to this crap. Society owes you. The American people will pay your debt off. Consult an attorney and file Chapter 7.

wild1 · 10-13-2009, 09:29 AM

Quote:

Originally Posted by Brock

I don't think bankruptcy gets you off the hook for those student loans. I'd start working 2 jobs if I were you.

You can no longer discharge student loans under any chapter of bankruptcy, unless you can credibly argue that you cannot repay them without undue hardship. This basically means that there's no chance for you to repay them and maintain a minimal standard of living. Since he's living at home and presumably could indefinitely I don't think he has an argument for undue hardship.

chief husker · 10-13-2009, 09:30 AM

Antifreeze

Mile High Mania · 10-13-2009, 09:30 AM

I don't want to kick you while you're down, but you waited a bit too long to act on this one... you need to seek professional help (many sites to view and places to call, just do a google search).

10-13-2009, 09:16 AM
mcan Apr 13,1949 – Dec 15, 2011 Join Date: Aug 2000 Location: Kansas City, MO Casino cash: $9996085	Bankruptcy Anybody here ever do it? What was your experience with it? I have a lot of very old credit card debt that I couldn't afford to keep paying on, and a lot of student loans that I have yet to really start on. Got my degree (in theater = dumb). I was teaching guitar lessons for cash through most of college and living off of student loans, then I was out of work for a while and now I'm living back home at the age of 29 (ouch). I did get a job on the production line of a fiberglass company for now, but the job isn't supposed to last past November. Got my summons a few weeks ago for a Discover Card debt. They want their money, and I don't blame them. But man, I really don't want to get my wages garnished and bank accounts frozen. This is a HUGE hole. Need out. Any advice?
Posts: 3,761

10-13-2009, 09:18 AM	#2
Demonpenz Woman should only make babies Join Date: Nov 2003 Location: Apartment "G UNIT!" Casino cash: $-423864	Hang in there and remember It's not your fault __________________
Posts: 54,957

10-13-2009, 09:21 AM	#3
Scorp Whiskey Tango Foxtrot OVER! Join Date: Dec 2003 Location: Hell Casino cash: $6629000	Gun....bullets......nah just drink the poison under the sink. __________________
Posts: 4,507

10-13-2009, 09:23 AM	#5
Demonpenz Woman should only make babies Join Date: Nov 2003 Location: Apartment "G UNIT!" Casino cash: $-423864	when i was having my credit problem i went to a self help group (which was surprisingly cheap 30 bucks a week or so). some of the steps were 1.) admitting that it wasn't your fault this happened. Credit companies use preditory tactics to seal your fate. 2.) trusting a higher power to get yourself out of debt 3.) Try to hold on to as many things you worked so hard to get. 4.) Reconize the kindness in others to help you get out or DON'T BE AFRAID TO ASK FOR HELP! __________________
Posts: 54,957

10-13-2009, 09:24 AM	#7
Brock Say hello to my little friend Join Date: Aug 2000 Location: Larryville Casino cash: $9598422	I don't think bankruptcy gets you off the hook for those student loans. I'd start working 2 jobs if I were you.
Posts: 47,314

10-13-2009, 09:25 AM	#8
Demonpenz Woman should only make babies Join Date: Nov 2003 Location: Apartment "G UNIT!" Casino cash: $-423864	in one of the lessons we learned to turn ourselves and credit over to a higher power. So I went to church and they put out a second collection for me. It wasn't enough to save my beloved sound system, but I was able to keep my bread maker. __________________
Posts: 54,957

10-13-2009, 09:26 AM	#9
MTG#10 Mammoth penis Join Date: May 2006 Location: Springfield Casino cash: $7014386	From what Ive heard if there has already been a court date set you're screwed, bankruptcy wont help you. And bankruptcy doesnt wipe out student loans either, you're still responsible for those no matter what.
Posts: 11,437

10-13-2009, 09:30 AM	#14
chief husker Safe As Kittens Join Date: Jan 2002 Location: Huskerland Casino cash: $9985960	Antifreeze
Posts: 1,608

10-13-2009, 09:30 AM	#15
Mile High Mania #triggering Join Date: Aug 2000 Location: Tejas Casino cash: $887229	I don't want to kick you while you're down, but you waited a bit too long to act on this one... you need to seek professional help (many sites to view and places to call, just do a google search). __________________
Posts: 30,911