Credit and Debit Cards

If you lost your job and have credit cards and 2 car payments that cannot be met is the best track to turn in one car and file bankruptcy?


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2011-09-12 22:05:24
2011-09-12 22:05:24

best track be to volunteer turn in one car, quit paying credit cards, once repo gets judgment against, file Bankrupsy? BEST track be to keep both cars, GET TWO JOBS, pay off cars & credit cards,live happy ever after in FL or PA or where ever the JOBS are. You CAN do it. The contract you are wanting out of didnt say anything about "wont pay if divorce,lose job,ect.", it said "I WILL pay X dollars for X number of months. It didnt say "I will pay as long as the sun is hing and the roses smell good."Why do I answer like this? Because you seemed to ask for the BEST track AND I believe YOU CAN DO IT. MERRY CHRISTMAS


Related Questions

One of the most common first steps to repairing poor credit after bankruptcy is to get a secured credit card. This is because a secured credit card needs a security deposit in case you don't make payments.

You need to notify the Credit company, once you've done that you may suspend payments.

To get credit cards after bankruptcy you can apply to credit companies that you haven't had previous experience with or go with your old company and get a card with a lower limit on it.

When going into bankruptcy, your credit card accounts will be cancelled as a result, so you will NEVER be able to use your credit cards if you go into bankruptcy. Depending on the type of bankruptcy, you will be able to apply for new credit cards (and other loans) after seven (7) or ten (10) years.

You can declare bankruptcy due to credit card debts, yes.

Yes, it is still possible to get a credit card after bankruptcy. "Secure" credit cards require you to place a security deposit down in the event of default, but they are a good way of rebuilding your credit.

Yes. If you declare bankruptcy you must declare all cards, loans, assets and debts.

Yes but it may not be the best choice for you so consult with an attorney first and consider your options. Whether or not you have late payments doesn't matter. If you have debt and your income cannot support your expenses, you can file.

Sometimes credit card charges are not included in bankruptcy. If they are then you will no longer be able to use them.

Chapter 7. The credit cards would be unsecured debts.

Yes if you are booking them online or by call they do accept payments by credit cards.

No, do not make any payments until told to to so. Then it will only be the secured debts ( house-car ) that you will be keeping.

When in bankruptcy it is not possible to have a credit card. Once the terms of the bankruptcy have been met, some credit card companies will consider issuing a credit card to some people.

People with bankruptcy can get credit cards from some companies that offer the option. While it is easy to get, interest rates and fees will be much higher as a result, until one can improve their credit score.

You cannot put IRS in with your bankruptcy. She still owes this bill. I am speaking from experience, I still owe them 5k after bankruptcy.

As far as credit cards/credit accounts, you will not have to make any payments and no interest will be added till said date.

No, just the opposite. Bankruptcy is the ultimate "train wreck" of a person's financial standing. Even after the ten year SOL there will be a public record, and the consumer will still be penalized for it. Bankruptcy, is not, as some are led to believe, the magic cure for debt problems.

No. I have no idea where you would have got this notion. Social Security cards are not credit cards and cannot be used as credit cards.

If your name is not on the account, and the account is not considered a "joint account" by the credit card company, then you should not be held liable for any debt on your wife's credit cards.

It is possible to recover from a bankruptcy. You should start by getting a secured credit card to rebuild credit. After about seven years you should be able to find a standard credit card that will allow you to get a card.

No, however once you have completed the 1 year term of bankruptcy you can then apply for a pre-paid credit card to begin rebuilding your credit.

Bankruptcy is the filing of a petition that claims your assets, and your inability to pay for them. Bankruptcy severely effects your credit, and is present on your credit for 7 years. During this time getting credit cards or loans can be very difficult.

You probably won't be able to get credit for the next seven years.

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