Consdiering something Ive looked down on for others doing but I may not have a choice. From what I understand its not worth doing as it all has to be paid back anyway; that and I somehow want my credit to stay in good standing.

Again I would do everything to avoid it but in the position Im in its either being on the street in a months time or surviving somehow til I can find employment. Cars wont sell, cant get the phone to ring with work or responses to reumes/apps. Lost the last job because I was too friggin broke to buy $1000 or so worth of attire and gear needed to complete the academy. I F#$%g give up.

Anyone have accurate info on this?



Note:
To those of you Im working on parts for that have given deposits Ill have them done by the months end. Anyone else I need to ship these items back to you as I wont have the ability to do them anymore.

-cuisinart

Man, that blows - job mojo!

Bankruptcy is for those with huge debts that have something worth wiping off the slate, so the benefits outweigh the impact on your credit.

I don't think you have enough debts or few enough assets to want to do it.

Anything will sell if you price it for what its worth and advertise accordingly. And obviously, what its worth is dictated by the buyers, not you. You complain about nobody wanting your Z, but you need to advertise it more.

Let me know when you want to trade the El Camino for my truck. You won't be able to buy the rest of the ignition and interior parts with foodstamps.


Why don't you have the ability to work on parts in your garage? That makes you money.

You need this guy. Give him a call
http://www.daveramsey.com/

Chapter 11 is to "wipe the slate clean". Chapter 13 is when you pay back those creditors that file for their money. It is usually a 3 year plan. You pay the court designee and they pay out the dough. I think you pay something like $.75 on the dollar owed. But the good thing is that there are no late fees or interest paid out. It doesn't take a real big hit on your credit as we were able to purchase two homes,refinance one, and buy three different cars even with it on there. Of course, you CANNOT apply for any type of loan or credit during your three years of paying if you do Ch. 13.

Ch 11 sounds better because who don't have to pay anything back, however you have to meet certain criteria like not making too much income. Plus, with secured loans that you default on, they can come and get whatever it was you used as collateral.

I was like you...I thought it is a person's own fault for getting in these situations, let him pay the price. BUt, you get to the point that you just can't survive anymore. No matter what you do the damn credit cards companies will not help you at all.

I don't like talking about our personal finances on a public forum but I will tell you this... We filed CH 13 almost 7 years ago and it was the BEST thing to ever happen to us. And I don't feel guilty because everyone got their money back so it was a win-win for everyone. Granted they didn't keep getting their late fees and over-balance fees, but hell they had already gotten enough from me and they part of the reason we got that way.

Ron, I'll give you a shout tonight!

How did it affect your credit score?

Mine is about 800 which is why it would kill me to do this.
I have always paid on time, never paid late no matter what it was. ANy debt I have right now is strictly survival stuff save for a few k spent on the 67...First $ Ive spent on that in years. Most of it I did through horsetrading/bartering/selling parts and a little cash to keep the hobby cheap.
In younger years I abused my credit and took over 10 yrs to straighten it out and get it to where it is now.
I guess if its shelter and food vs a score I know what Id probaly do though. Maybe I could be the first bum on the corner with good credit

Well mine dropped from about 760 to 680 now its back to 720. 2009 it is taken off of our credit and it should go back up.

Again, I didn't have ANY problem getting credit for things after the three years of payments were through.

I'm a little confused on dropping the job because of the uniform outlay? Seems you could have paid that back over the course of a year. I'm sure there is a little more to it like maybe the pay issue. Uniform expenses can be a tax write off. Usually, there is some kind of uniform allowance when it's a job requirement for a city, county, state or federal position. Your about due for something good. Here is some magic dust. Use it wisely. :wizard:

Hourly wasnt the issue.
I couldnt afford what they wanted me to have so thats it, youre booted.Theres no "fair" there, you do it or youre out no matter how unreasonable/last minute it seems. Seems minimal but its that bad $$ wise.To complete the class til first payday and support myself assuming I made it I would have needed over 6k minimum, cant swing it..

What kind of gear does this job require at $1K? Armani suits? Anyhow if you told me $1K was between you and a sure deal at a job, I would have just given you the money. It's not as if they're requiring all the applicants to buy uniforms and then sending half of them home.

Your excuses probably sound legit to someone that hasn't heard them before.

Youve obviously never been that hard up.

I was living off of $400 unemployment checks, paying interest on $12000 in credit debt, looking for a jobs at home depot or washing cars at a dealership, and agonizing about having to ask either of my parents to take me in.

Try sleeping in the park getting your azz beat at night, asking passersby if they want their windows washed for a buck. It will do a number on you....Btdt. Thats what I want to avoid and Im dangerously close....Hence the thread.

Enough of this sad crap, Im outta here.
Good youve stepped up in the world, CC.

I think bankruptcy has it's place, but is for pretty extreme unsecured debt. AFAIK you still have some assets (ie, vehicles) and although it pains you to sell them for less than you want (or they are worth), sometimes that's what needs to be done. It sucks about the other job, but keep looking and diggin and you'll find something. Even starting out low is better than not starting out at all, IMHO.

Good luck and keep us posted.

Matthew

Look into "debt negotiation". The interest stops and the total debt is cut in half and then payed off over three years. This is not "debt consolidation". And is easier on your credit.

A good friend is in that business. If your interested, PM me.

Ron, this was all over $1000? look, I'm not a rich guy but I don't see why we couldn't have helped out. If $1000 would have changed your life, I'm sure between all of us here we'd be able to come up with it. 20 people at $50 each, bfd. If it's not too late, I'm in for $100.. let us know how we can help. I can't see $1000 being a barrier to getting your feet under you. I am sure we can come up with it.

now John has an idea here.

That's a good one...

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Hey.....

John can I have $50 too?

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Have you been unemployed for a period of time, emptied you pensions, trying to get life back on track and only $1000 away from doing so?

If so, we'll talk. If $1000 would change your life for the long term and permanent basis, I'm in. But it's the last $50 you'd get.

Jesus Ron I told you a year ago if you needed a hand let me know............

You got my number!!!!!

Gary

Dude, this is killing me. What can we do to help?

Ya gotta a place to go? Or any plans?

Hell I dont know him other than from the forum here but I'll chip in to help a fellow. Somebody start collecting !

Thanks for the offers, thats real nice of you all but I try to carry my own weight, Im a grown man.

Got everything up on Ebay tonight, see how many Nigerian checks I can cash before they catch up with me.

Quote:

Fixed it for ya!

Tommy the scabs go away quicker than youd think! :thumbright:

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Ron, don't be shy Man, Everyone needs a helping hand now and again. Lord knows you have helped many members with your knowledge.

Maybe it's time for a little payback!!!

Your call Buddy
Gary